I am a long time forum member, and over the year+ I've been here, I've definitely learned a few things about finance. Now I'm finally taking finance courses at my school. Well... I can't understand the book for shit. I go to the questions section, and basically off what I learned myself/WSO was able to do most of them.
Why the fuck are textbooks so overpriced, worthless, and nonsensical? I have a code for the supplemental website that helps learn the stuff, and my god isthe site worthless as well. Nothing makes much sense, and will explain 3 topics from a chapter containing 20+
I know people will say "if you can't pass a finance course you'll never survive ibanking" but that's not the point. I'll hopefully surive this class, but shit, can textbooks ever explain things?
better start working on the lsat before its too late
touche.
I hate to say it, but the type of finance jobs this forum is about (investment banking, VC, hedge funds, private equity, etc.) require large amounts of brain power, if for no other reason than your peers are, for the most part, incredibly smart. I ran into this at my first job (IB analyst) where my peers were almost entirely Ivy League graduates or graduates of other elite universities. If you struggle in finance classes, consider a different career path--you won't regret it. There are other well-paying, fulfilling career paths out there.
Not attacking you or being hyper aggressive as most people are when they disagree, but am wondering, in particular, how you can quantify your last 2 sentences?
None of the stuff you do as an analyst in investment banking is rocket science; it's more valuable to learn accounting and excel than finance. In my fund (levered debt fund) and all my buddies who work at PE shops do simple models and spend their time testing whether sales and cost assumptions are plausible rather than using multiple valuation tools which are largely flawed anyway.
OP, please do not get freaked if you don't excel in 1 course, I didn't take 1 finance course in univ and worked for UBS and now am working for a leading debt fund. However, it is different in Europe, fine, but the skill set needed unless you're going to get a phd and do prop trading does not mean you need to be a financial wizz.
Again... I'm not struggling in it, I damn near know all the questions asked at the end of the chapter. It's the books explanations that are a migraine. If you've read my posts, you can see that finance is the career path for me and no worthless textbook will stop that. This is nothing more than a rant, if you relate, you feel my pain, if not, consider yourself lucky.
dude get a diff book
It's a coursebook. I guess I may have to resort to some sort of supplement, hopefully it'll follow along with my book.
Any recommendations for books? the class is intro to finance, the book is corporate finance.
What is it? Brealey Myers? Ross Westerfield Jordan?
megginson/smart
If it makes you feel any better, my Modern Algebra book is so incredibly illegible that I would have a better chance learning the subject from an instruction manual for MindSweep (The overly addicting desktop computer game).
Is this your first finance course?
This is my first finance course taken in school. I've done independent studying on my own, if you were implying something.
I once had a terrible math textbook....it was just awful and none of the questions made any sense. Even the other students agreed with me. I ended up getting a tutor. Helped a lot.
********"Babies don't cost money, they MAKE money." - Jerri Blank********
If I could find a tutor for this course certainly would. I'll try, but not even my school provides tutoring for this...
Yeah I know the feeling. I once had an Intermediate Microeconomics course where, IMO, the textbook required a fuckiing PhD to understand....It was sooo horriblly written that EVEN THE TEACHER ADVISED US AGAINST USING IT and just gave course notes. Finance on the other hand....if you're doing the questions at the back of the chapter easily, you shouldn't be complaining. However, if you do run into trouble, I personally like Ross' books.
Good luck!
^Thanks. I'm not running into trouble yet. Keyword is yet. As the stuff gets tougher I'm sure I'll have to actually learn it. Luckily I picked up a few things myself throughought the past few years, but I don't know the book info cold.
Can get a link to Ross' book? Is there a "complete idiots" sort of book for a class like this?
Not implying anything. Since this is your first finance course and about 2 weeks into the semester, what you are doing now is probably very very basic. Thats the reason you probably understand everything right now. Trust me, classes will get much harder. If you are having trouble with the book, your best bet is to go to your professor's office hours. One-on-one with the prof will teach you more than any textbook can.
i can't understand why your professor didn't assign a classic textbook. Well to re-assure you, I can't understand most finance text books, but I still got a job at a BB and I passed my CFA level I. It's rare to find a good textbook, I like Brealey Myers, and for Derivatives (since thats my life) I take my bible pretty seriously (Hull).
Get a different text book if you don't like the one you have, I always did.
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Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend
What book are you studying from now, maybe someone has better suggestions for comparable books and have been in your place.
********"Babies don't cost money, they MAKE money." - Jerri Blank********
^As I stated above
megginson/smart Intro to Corporate Finance.
I understand a DCF better than this book's explanation of a freakin ROA/ROE
ROSS / FUNDAMENTALS OF CORPORATE FINANCE (I took this for my intro class)
BOOTH / INTRODUCTION TO CORPORATE FINANCE
Like I said, I prefer Ross. Im currently going through his more advanced corp. fin. book and its fantastic.
Sounds like you need Damodaran
Are those textbooks? Because I really don't want to buy another large, $200 textbook. Was really hoping something like a 30 dollar guide was around, just explaining the concepts in a legible manner.
There is info on this in another thread. Get Practitioners Guide to iB, M&A, Corf Fin published by Scoopbooks. Comes up in google if you key in scoop books practitioners guide. Fantastic guide for giving you a grounding in the practical basics. But you need to refer to something like Westerfield/Jordan and Damodaran thereafter to get to grips with the details. It is about USD100 i think
www.damodaran.com
His book on Valuation is there. For free.
Damodaran is the man, it's a shame I missed his class by one semester.
This is the best way to go and by the way and I banks also preach him. I interned at Citi as a SA and before my interview they told me to go through his book even though I was finance major.
Awesome link dacarez, the chapters are out of order compred to mine, but that isn't even an issue. I really appreciate that link. Looks like some of the intro to corp. fin. is actually free too.
And thanks hayabusa as well, but I'm not spending an extra 100 for a book unelss I'm 100% sure it'd help me.
I spoke too soon, most of the stuff is limited to Stern students... damnit...
http://pages.stern.nyu.edu/~adamodar/
click on books link thereafter. The two that I think are his best for analysts are Damodaran on Valuation (2nd Ed) and Investment Valuation (2nd Ed). Full text manuscripts for both are available at the above link. Easy way for me was to download all into one folder, type up a chapter TOC and print out 2 pages to a sheet double sided and bind both. And you've saved at least USD250. Voila. Then of course, you have to plough through the material; but he writes well and intuitively.
"God takes care of old folks and fools, while the Devil takes care of makin all the rules", P.E. 1998
I think he took them down. I bookmarked the link to the Valuation book on his site. It doesnt work anymore. HOWEVER, the directory is still there so here it is :)
http://pages.stern.nyu.edu/~adamodar/pdfiles/valn2ed/
Thanks a lot. That will definitely come in handy.
I haven't bought a textbook since sophomore year (I'm a senior). If you need to do problem sets, just work with other people and use their books for homework - learn the material in class (pay attention and take good notes) or with other people. I can't stand working alone, you learn less and it takes longer. Just my two cents, for what it's worth. Keep in mind I'm an aero/mechanical engineering major, though, not finance.
Essentials of Investments by bodie, kane, and marcus. read it
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