Hello guys, I'll be starting as a pe analyst position at MF in a few months, very happy & stressed about it
I was wondering if you have any book recommendations that I could read before entering the position to become a better analyst? Any insights (even-non book related) would be greatly appreciated
Thanks in advance financebrooos
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Practice Excel. You will be spending 70% of your time in that.
What would you do? Are there any resources you would recommend that go into sufficient depth? As I have a lot of time on my hands, really looking to hone my skills
Get quick at building LBOs from scratch, get familiar with all their variations: stub periods, bolt-on acquisitions inside the model, multiple debt tranches, MIPs and equity plans/structures, all types of ebitdas (pre IFRS, post IFRS, with capitalized R&D and without, etc) and a lot of sensitivities/bridges graphs
I did an off-cycle internship at a MM PE where there were no analysts (I was the defacto analyst) and my experience was something like this: every other week a senior would come up with some financials from a potential target and would ask me to run an LBO using the financials provided and standard assumptions, and would expect a first draft before the end of the day or even before, then they would ask for different sensitivity analyses/cases during the week, before deciding whether to bring this or not to the IC. Also my output had to be well formatted as these were seniors, so on top of being quick with the modelling, I had to be quick with the formatting
In short, you have to be quick enough to handle unstandardized company data, different types of ebitda/financials and put this into a lbo model, and be ready to make quick changes when requested.
Oh wow, it sounds like you've had quite an experience, it must have been very stimulating! How did you learn all this, was it more on the job or did you have resources to help you? if you have resources, could you provide the ones that helped you the most?
Straight from my Goodreads reading list. Godspeed
That's very useful, thank you!
One that were surprisingly relevant and that I can highly recommend:
- Lessons from the Titans (Davis, Copeland, Wertheimer) has a particular focus on industrials-type businesses.
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