Learning Technical aspect of IB
I have recently secured an interview at an IB Boutique, but even without that, if I am ever to work at a BB technical skill will be critical.
As a person who knows little/nothing about the technical aspect of Investment Banking, where could one go to learn?
I need a resource that begins with the very basics and then goes into greater detail.
I have learned what I can from free resources online; as I am about to spend some cash to get the information I need, I'd like to know where my money would go farthest.
I assume that for the sake of internship interviews a person doesn't need to know everything, so what are the most critical things?
I thank you all for your time.
Hi, I recommend AMT Midnight Manuals (you can buy these books online). Actually these books are more than enough. Alternatively you could also read Rosenbaum or do the online BIW Good luck!
Read Rosenbaum. Assuming you have at least taken an accounting class (if not then I don't know why you're trying to go into finance)
Accounting foundations-->WSP-->TTS-->BIWS-->Rosenbaum's book. You can also use macabacus for templates and streetsofwalls for some general tips.
Rather than trying to memorize what goes into a valuation model, you have to understand the components and why each account is used. That's why fundamental accounting knowledge is critical.
Breaking Into Wall Street is perhaps the best out there. They start very basic and go pretty deep into concepts. Also, actual case studies instead of constant theory.
I learned accounting and basic finance stuff through classes at college (I'm not a finance/business major) just to learn. Everything through basic finance, corporate finance, classes on equity and fixed income, and then a class on modeling/valuing companies and transaction (super relevant). I also read Rosenbaum as people have mentioned, and have read through the vault guide for investment banking as well as M&I's 400 investment banking interview questions. I'd say that the technicals and a relevant part of my resume are my strong point because I have a pretty crappy gpa in a very technical, but non-business major. I'm sure once you've read through one of those guides, you'd probably be alright, but if you are non-finance you should probably expect more technical questions.
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