Investment Banking Insights

By Alex Mason

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Episodes: 316

Description

What information do you need to know as an aspiring investment banker? Join career-switcher and MBA student Alex Mason as we journey together to uncover the technical (including the famous "400 interview questions") and not-so-technical aspects of the investment banking profession. 

Episode Date
Where I’m Going This Summer
May 06, 2024
The 6 Levels Of Investment Banker Responsibility
Apr 24, 2024
The Investment Banking Landscape In The U.S.
Apr 23, 2024
Accounting Basics For Investment Bankers
Apr 18, 2024
Coverage VS Product Groups
Apr 15, 2024
From Non-Target To IB Success With Matthew Farquhar
Apr 11, 2024
Why Do You Want To Work Here?
Apr 08, 2024
Why Investment Banking?
Apr 04, 2024
Tell Me About Yourself (The Pitch)
Apr 01, 2024
Be An Asset Wherever You Go With Sandy Li
Mar 28, 2024
Five Reasons Not To Pursue Investment Banking
Mar 25, 2024
What Is Investment Banking?
Mar 21, 2024
Investment Banking Insights Is Now On YouTube!
Mar 18, 2024
Quick Update On The Show
Mar 14, 2024
The State Of Investment Banking 2024
Mar 12, 2024
The Myth Of Accretion
Mar 11, 2024
How To Network At Events
Mar 08, 2024
Determine Valuation From Precedents
Mar 07, 2024
Benchmark Comparable Deals
Mar 06, 2024
Thoughts On LBOs
Mar 05, 2024
Collar Provisions
Mar 01, 2024
Fixed and Floating Exchange Ratios
Feb 29, 2024
Spread Transaction Data
Feb 28, 2024
Finding Data For Private Transactions
Feb 27, 2024
Locate Deal-Related Info In Schedule TO And Other Docs
Feb 26, 2024
Locate Deal-Related Info In Proxy Statements
Feb 22, 2024
How Price Is Impacted In A Deal
Feb 21, 2024
Selecting Comparable Precedent Transactions
Feb 20, 2024
Precedent Transaction Analysis Overview
Feb 19, 2024
How Do I Network? (Q&A)
Feb 16, 2024
Measuring Credit Quality With Ratios
Feb 15, 2024
Measuring Return On Investment With Ratios
Feb 14, 2024
Adjusting The Income Statement
Feb 13, 2024
Pros And Cons Of A Comparable Companies Analysis
Feb 12, 2024
Determine The Valuation Range For The Target
Feb 09, 2024
Benchmark Comprables
Feb 08, 2024
Spreading Out Comparables
Feb 07, 2024
Where To Find Financial Info For Comparable Companies
Feb 06, 2024
What Are The Steps Involved In A Comparable Companies Analysis?
Feb 05, 2024
What Makes A Good Comp?
Feb 02, 2024
Diversity Processes For Investment Banking Recruiting
Feb 01, 2024
Alaska Airlines Acquires Hawaiian Airlines
Jan 31, 2024
Q&A: How To Approach Video Interviews
Jan 30, 2024
The Five Categories Of Behaviorals
Jan 29, 2024
Post Acquires JM Smucker Pet Food (Deal Pitch Practice)
Jan 26, 2024
BIP Acquires Triton International (Deal Pitch Practice)
Jan 25, 2024
Tell Me About A Deal
Jan 24, 2024
Q&A: Unlevered Vs Unlevered Difference For Firm Value
Jan 23, 2024
Get The Job, Then Be Great At The Job
Jan 22, 2024
Season 2 Is Coming January 22nd!
Jan 07, 2024
The Offer (Superday Prep Pt. 8)
Dec 26, 2023
The Superday (Superday Prep Pt. 7)
Dec 15, 2023
Quick Check-In
Dec 07, 2023
The Night Before Your Superday (Superday Prep Pt. 6)
Dec 04, 2023
Research The Bank (Superday Prep Pt. 5)
Dec 02, 2023
Review Niche Topics (Superday Prep Pt. 4)
Dec 01, 2023
Review Core Behaviorals (Superday Prep Pt. 3)
Nov 30, 2023
Review Core Technicals (Superday Prep Pt. 2)
Nov 29, 2023
The Superday Mindset (Superday Prep Pt. 1)
Nov 28, 2023
How Can Leverage Impact The IRR Of An LBO?
Nov 27, 2023
Thanksgiving Episode
Nov 23, 2023
Is It Possible For Debt To Return More Than Equity In An LBO?
Nov 22, 2023
Adjusting The Income Statement In An LBO
Nov 21, 2023
How Are Revolvers Used In An LBO?
Nov 20, 2023
How Do Optional Debt Repayments Work In An LBO?
Nov 19, 2023
Transaction Structure For LBOs
Nov 18, 2023
Give Examples Of Maintenance And Incurrence Covenants
Nov 17, 2023
Explain PIK Interest
Nov 16, 2023
How Do Management Option Pools Work In LBOs?
Nov 15, 2023
How To Calculate IRR For Debt Investors
Nov 14, 2023
How To Adjust The Balance Sheet In An LBO
Nov 13, 2023
Review Of Debt Financing
Nov 12, 2023
What Is Mezzanine Debt?
Nov 11, 2023
What Are Subordinated Notes?
Nov 10, 2023
What Are Senior Notes?
Nov 09, 2023
What Types Of Conventional Debt Can You Use In An LBO? Part 2
Nov 08, 2023
What Types Of Conventional Debt Can You Use In An LBO? Part 1
Nov 07, 2023
How Do You Account For Miscellaneous Costs In A Merger Model?
Nov 06, 2023
What Is A Contribution Analysis?
Nov 05, 2023
Would A Company Prefer A Stock Or Asset Purchase?
Nov 04, 2023
What Are The Main Three Transaction Structures You Can Use To Acquire A Business?
Nov 03, 2023
How Do You Handle Dilutive Securities In A Merger Model?
Nov 02, 2023
Combining All Three Statements In A Merger Model
Nov 01, 2023
What Are Break-Even Synergies And Why Are They Important?
Oct 31, 2023
How Does Accretion Or Dilution Differ For A Private Seller?
Oct 30, 2023
What Is An Earnout And Why Would A Buyer Offer It To A Seller?
Oct 29, 2023
Walk Me Through A Purchase Agreement
Oct 28, 2023
What Is An Exchange Ratio And When Would You Use It?
Oct 28, 2023
Explain IRS Section 338(h)(10) And Why It Matters
Oct 26, 2023
Why Write Down A Seller's Existing DTA In A Deal?
Oct 25, 2023
Explain The Complete Goodwill Formula
Oct 24, 2023
How Do You Account For DTLs In Forward Projections In A Merger Model?
Oct 23, 2023
Can You Get DTLs or DTAs In An Asset Purchase?
Oct 23, 2023
How Do Deals With DTAs Affect The Balance Sheet?
Oct 21, 2023
How Do Deals With DTLs Affect The Balance Sheet?
Oct 21, 2023
Why Do Deferred Tax Liabilities And Deferred Tax Assets Get Created In Deals?
Oct 19, 2023
How Do You Take Into Account Net Operating Losses In A Deal?
Oct 18, 2023
Walk Me Through A Calculation Of Cost Synergies
Oct 17, 2023
Walk Me Through A Calculation Of Revenue Synergies
Oct 16, 2023
What's The Difference Between Purchase Accounting And Pooling Accounting?
Oct 15, 2023
How Do You Adjust Your DCF For A Company's Future Purchase, And What Is The New Enterprise Value?
Oct 14, 2023
Do You Count Convertible Debt As Debt When Calculating Levered Beta?
Oct 13, 2023
Walk Me Through A Dividend Discount Model For Financial Institutions
Oct 12, 2023
How Do You Calculate Per-Share Value Of A Public Company In A DCF?
Oct 11, 2023
How Does The Terminal Value Calculation Change When We Use The Mid-Year Convention?
Oct 10, 2023
How Do You Account For Stub Periods In A DCF?
Oct 09, 2023
Explain Why We Would Use The Mid-Year Convention In A DCF
Oct 08, 2023
How To Value A Real Estate Investment Trust
Oct 07, 2023
How To Value An Oil And Gas Company
Oct 06, 2023
Comparing Companies With Different EBITDA Margins And Multiples
Oct 05, 2023
How Far Back And Forward To Go For Comparable And Precedent Transaction Multiples?
Oct 04, 2023
How To Find Missing Numbers From Precedent Transactions
Oct 03, 2023
Using Equity Research Projections For Public Comparables
Oct 02, 2023
How Do You Value Net Operating Losses?
Oct 01, 2023
Walk Me Through A Sum-Of-The-Parts Analysis
Sep 30, 2023
I Got The Offer!
Sep 29, 2023
Difference Between M&A Premiums Analysis And Precedent Transactions
Sep 28, 2023
Walk Me Through A Future Share Price Analysis
Sep 27, 2023
Walk Me Through An M&A Premiums Analysis
Sep 26, 2023
Calendarize Partial Financials To Show Trailing Twelve Months
Sep 25, 2023
Walk Me Through An IPO Valuation For A Company About To Go Public
Sep 23, 2023
How Are Financial Institutions Valued Differently Than Other Companies?
Sep 22, 2023
How Much Is Too Much Equity Dilution?
Sep 21, 2023
When Calculating Enterprise Value, Should You Use Book Or Market Value?
Sep 20, 2023
What Is Wrong With The Enterprise Value Equation?
Sep 19, 2023
Why Would Depreciation And Amortization Be Different On The Income Statement Vs Cash Flow Statement?
Sep 18, 2023
Finance Leases Vs Operating Leases
Sep 17, 2023
How Do Net Operating Losses Affect The Three Statements?
Sep 16, 2023
How To Project Balance Sheet Items In A Three-Statement Model
Sep 15, 2023
Non-Recurring Charges Examples To Add Back To EBITDA
Sep 14, 2023
What Is The Statement Of Shareholder's Equity?
Sep 13, 2023
Walk Me Through What Flows Into Additional Paid-In Capital
Sep 12, 2023
Walk Me Through What Flows Into Retained Earnings
Sep 11, 2023
Walk Me Through The Major Items For Shareholder's Equity
Sep 10, 2023
How Do We Create Revenue And Expense Models Without Much Info?
Sep 09, 2023
Walk Me Through An Expense Model
Sep 09, 2023
Walk Me Through A Revenue Model
Sep 07, 2023
What Are Deferred Tax Assets And Liabilities?
Sep 06, 2023
GAAP Vs Tax Accounting
Sep 05, 2023
Labor Day
Sep 02, 2023
If I Gave You An Offer Now, Would You Take It?
Sep 01, 2023
Tell Me A Time You Failed To Meet A Committment
Sep 01, 2023
How Do I Know You'll Stay?
Aug 31, 2023
What Other Banks Are You Considering?
Aug 31, 2023
You've Already Been So Successful, Why Come Here?
Aug 30, 2023
Why Not Consulting?
Aug 30, 2023
Can You Handle These Working Hours?
Aug 29, 2023
Why Switch Careers To Investment Banking?
Aug 29, 2023
What Was Your Favorite Class In School?
Aug 28, 2023
What Do You Do For Fun?
Aug 28, 2023
Why Did You Choose Your Major?
Aug 27, 2023
Why Did You Choose Your School?
Aug 27, 2023
Tell Me About A Time When You Presented To Many People
Aug 26, 2023
How Well Can You Multi-Task?
Aug 26, 2023
What's The Most Number Of Classes You've Taken?
Aug 25, 2023
Tell Me About A Careless Mistake You've Made
Aug 25, 2023
What Initiative Have You Taken To Learn More About Finance?
Aug 24, 2023
Tell Me About Your Quantitative Skills
Aug 24, 2023
How To Approach Behavioral Questions
Aug 23, 2023
The Magic Ingredient For Great Behaviorals
Aug 23, 2023
Basic LBO Questions Summary
Aug 22, 2023
Basic M&A Questions Summary
Aug 22, 2023
Basic DCF Questions Summary
Aug 21, 2023
Basic Valuation Questions Summary
Aug 21, 2023
Basic Enterprise And Equity Value Questions Summary
Aug 20, 2023
Basic Accounting Questions Summary
Aug 20, 2023
How Would A Dividend Recap Impact The Financial Statements?
Aug 19, 2023
What Is A Dividend Recapitalization?
Aug 19, 2023
What Is An LBO Tax Shield?
Aug 18, 2023
The Five Ways To Increase LBO Returns
Aug 18, 2023
Why Do An LBO In A Risky Industry?
Aug 17, 2023
Bank Debt Vs High-Yield Debt
Aug 17, 2023
What Are Reasonable Leverage Ratios In An LBO?
Aug 16, 2023
How Many Tranches Of Debt In An LBO?
Aug 16, 2023
Do You Need To Project All Three Statements In An LBO Model?
Aug 15, 2023
Debt Vs Cash When Acquired By PE Vs Strategic
Aug 15, 2023
Explain How The Balance Sheet Is Adjusted In An LBO Model
Aug 14, 2023
Give An Example Of A Real Life LBO
Aug 14, 2023
Ideal LBO Candidates
Aug 13, 2023
How To Choose LBO Purchase And Exit Multiples
Aug 13, 2023
What Variables Impact An LBO Model The Most?
Aug 12, 2023
Why Use Leverage To Buy A Company?
Aug 12, 2023
Walk Me Through A LBO Model
Aug 11, 2023
What Types Of Sensitivities Would You Look At In A Merger Model?
Aug 11, 2023
What Role Does A Merger Model Play In Most Deal Negotiations?
Aug 10, 2023
Why Do Mergers And Acquisitions Fail?
Aug 10, 2023
What Are The Impacts Of The Market On An All-Stock Transaction?
Aug 09, 2023
What Happens When A Company Overpays?
Aug 09, 2023
How Do You Determine M&A Purchase Price?
Aug 08, 2023
How Much Debt Could A Company Use For An Acquisition?
Aug 08, 2023
Cash, Debt, Or Stock For An Acquisition?
Aug 07, 2023
Are Revenue Or Cost Synergies More Important?
Aug 07, 2023
How Are Synergies Used In Merger Models?
Aug 06, 2023
What Are Synergies?
Aug 06, 2023
Other Intangible Effects Of Acquisitions
Aug 05, 2023
What Is The Difference Between Goodwill And Other Intangible Assets?
Aug 05, 2023
Why Does A Strategic Typically Pay More Than A PE Firm?
Aug 04, 2023
Why Would A Company Not Pay 100% Cash?
Aug 04, 2023
What Are The Effects Of An Acquisition?
Aug 03, 2023
Accretive VS Dilutive Rules Of Thumb
Aug 03, 2023
Why Would An Acquisition Be Dilutive?
Aug 02, 2023
Why Would A Company Want To Make An Acquisition?
Aug 02, 2023
What’s The Difference Between A Merger And An Acquisition?
Aug 01, 2023
Walk Me Through A Merger Model
Aug 01, 2023
How To Account For High Debt Load And Debt Payoff In A DCF?
Jul 31, 2023
What Types Of Sensitivity Analyses Would We Perform In A DCF?
Jul 31, 2023
Why Would You Not Use A DCF For Financial Institutions?
Jul 30, 2023
What Should You Do If Management’s DCF Looks Unrealistic?
Jul 30, 2023
How Do You Calculate WACC For A Private Company?
Jul 29, 2023
Greater Change In DCF Valuation, Revenue Or Discount Rate?
Jul 29, 2023
Companies With And Without Debt, Which Has Higher WACC?
Jul 28, 2023
Calculate Cost Of Equity Without Using CAPM
Jul 28, 2023
Should Dividend Payments Be Factored Into Cost Of Equity?
Jul 27, 2023
What Is The Relationship Between Debt And Cost Of Equity?
Jul 27, 2023
Checking In And Celebrating 100 Episodes!
Jul 26, 2023
Which WACC Should Be Higher, $5B Or $500MM Market Cap?
Jul 26, 2023
Which Cost Of Equity Should Be Higher, $5B Or $500MM Market Cap?
Jul 25, 2023
How Do You Know If Your DCF Is Too Dependent On Future Assumptions?
Jul 25, 2023
Flaw With Using Public Company Comparables For Terminal Multiples
Jul 24, 2023
What Terminal Value Method Gives A Higher Valuation?
Jul 24, 2023
What Exit Multiple When Calculating Terminal Value?
Jul 23, 2023
Growth Rate For Calculating Terminal Value?
Jul 23, 2023
How Do You Calculate Terminal Value?
Jul 22, 2023
Discount Rate When Using Levered FCF
Jul 22, 2023
Levered VS Unlevered FCF In Your DCF
Jul 21, 2023
Tech VS Manufacturing Company, Which Has Higher Beta?
Jul 21, 2023
How Do You Get Beta In The Cost Of Equity Calculation?
Jul 20, 2023
How Do You Calculate Cost Of Equity?
Jul 20, 2023
How Do You Calculate The Discount Rate (WACC)?
Jul 19, 2023
Why Do You Use 5 Or 10 Years In DCF Projections?
Jul 19, 2023
What’s An Alternative Way To Get To Free Cash Flow?
Jul 18, 2023
How Do You Go From Revenue To FCF?
Jul 18, 2023
Walk Me Through A DCF
Jul 17, 2023
When Does Goodwill Increase?
Jul 17, 2023
What Is Goodwill Impairment And What Causes It?
Jul 16, 2023
Positive EBITDA But Still Bankrupt?
Jul 16, 2023
Why Do Companies Report GAAP And Non-GAAP Earnings?
Jul 15, 2023
How Do You Know When To Capitalize Or Expense A Purchase?
Jul 15, 2023
How Does Cash-Based VS Accrual Accounting Affect The Financial Statements?
Jul 14, 2023
What's The Difference Between Accounts Receivable And Deferred Revenue?
Jul 14, 2023
If Cash Is Not Recorded As Revenue, What Happens To It?
Jul 13, 2023
Why Would A Company Collect Cash And Not Record It As Revenue?
Jul 13, 2023
Walk Through A $100 Equity Bailout Of A Company
Jul 12, 2023
What Happens With A Write-Down Of $100 Of Debt?
Jul 12, 2023
What Happens With A Write-Down Of $100 Of Assets?
Jul 11, 2023
What Is Working Capital And How Is It Used?
Jul 11, 2023
Is Negative Shareholder's Equity Possible?
Jul 10, 2023
Company Sells A Product For $20, At A Cost Of $10
Jul 10, 2023
Company Buys A Factory With Debt (Years 1,2,3)
Jul 09, 2023
What Happens When Inventory Goes Up By $10?
Jul 09, 2023
How Do You Value A Private Company And Use Them In Valuations?
Jul 08, 2023
Vending Machine Question
Jul 08, 2023
What's The Difference Between EV/EBIT, EV/EBITDA, And P/E Multiples?
Jul 07, 2023
Why Does Warren Buffet Prefer EBIT Multiples Over EBITDA Multiples?
Jul 07, 2023
Why Would An Acquirer Pay Twice The EBITDA Multiple For One Company Than Another?
Jul 06, 2023
What's The Difference Between EV/EBIT, EV/EBITDA, And P/E Multiples?
Jul 06, 2023
Precedent Transactions Exceptions And Flaws
Jul 06, 2023
How Do You Account For Competitive Advantage In A Company's Valuation?
Jul 05, 2023
The Flaws Of Public Company Comparables
Jul 05, 2023
Why Would Two Comparable Companies Be Valued Differently?
Jul 04, 2023
How Do You Actually Get A Company's Value And What Do You Use It For?
Jul 04, 2023
How Do You Select Comparable Companies and Precedent Transactions?
Jul 03, 2023
Would You Compare Free Cash Flow With Equity Or Enterprise Value
Jul 03, 2023
How Do You Value A Company With No Revenue?
Jul 02, 2023
When Would Liquidation Value Produce The Highest Value?
Jul 02, 2023
Why Can't You Use Equity Value / EBITDA Instead of EV / EBITDA?
Jul 01, 2023
How Would You Value An Apple Tree?
Jul 01, 2023
How Do You Present Valuation Methodologies To A Client?
Jun 30, 2023
Would An LBO Or DCF Give A Higher Valuation?
Jun 30, 2023
Industry-Specific Multiples
Jun 29, 2023
Multiples You Should Know
Jun 29, 2023
Other Valuation Methodologies
Jun 28, 2023
The Three Major Valuation Methologies
Jun 28, 2023
Equity Value vs Shareholder's Equity
Jun 27, 2023
Convertible Bond Dilution Example
Jun 27, 2023
Accounting For Convertible Bonds When Calculating EV?
Jun 26, 2023
Is Negative Enterprise Value or Negative Equity Value Possible?
Jun 26, 2023
Is It Always Accurate To Add Debt To Equity Value To Calculate EV?
Jun 25, 2023
Why Subtract Cash To Calculate Enterprise Value?
Jun 25, 2023
How Do You Calculate Fully Diluted Shares?
Jun 24, 2023
What Are Fully Diluted Shares?
Jun 24, 2023
Enterprise Value Formula
Jun 23, 2023
Enterprise Value vs Equity Value
Jun 23, 2023
What Happens When Accrued Compensation Goes Up By $10?
Jun 22, 2023
Depreciation and the Income Statement
Jun 22, 2023
If Depreciation Is A Non-Cash Expense, Why Does It Affect The Cash Balance?
Jun 21, 2023
Walk Me Through How $10 Of Depreciation Affects The Financial Statements
Jun 21, 2023
If I Could Only Pick Two Financial Statements, Which Would I Choose?
Jun 20, 2023
If I Was Stranded On A Desert Island, Which One Financial Statement Would I Choose?
Jun 20, 2023
How Do The Three Statements Links Together?
Jun 19, 2023
What Are Some Major Line Items On Financial Statements?
Jun 19, 2023
Walk Me Through The Three Financial Statements
Jun 16, 2023
Financial Statement Connections Summary (and Other Notes)
Jun 15, 2023
Connections - Depreciation and Amortization
Jun 14, 2023
Connections - Borrowing Money and Selling Stock
Jun 13, 2023
Connections - Paying Expenses
Jun 12, 2023
Connections - Making A Sale
Jun 09, 2023
Connections - The Balance Sheet Must Balance
Jun 08, 2023
Welcome To Investment Banking Insights
Jun 07, 2023
Cash Flow Statement Basics - Part 2
Jun 07, 2023
Cash Flow Statement Basics - Part 1
Jun 06, 2023
Income Statement Basics - Part 3
Jun 05, 2023
Income Statement Basics - Part 2
Jun 02, 2023
Income Statement Basics - Part 1
Jun 01, 2023
Balance Sheet Basics - Part 3
May 31, 2023
Balance Sheet Basics - Part 2
May 30, 2023
Balance Sheet Basics - Part 1
May 29, 2023
The Basic Equation of Accounting
May 27, 2023
Basic Accounting Principles
May 25, 2023
The Four Inevitable Questions Part 3
May 24, 2023
The Four Inevitable Questions Part 2
May 23, 2023
The Four Inevitable Questions Part 1
May 22, 2023
Recruiting Process for MBAs
May 16, 2023
An Overview Of The Industry
May 15, 2023
What Is Investment Banking?
May 12, 2023
Let's Learn Investment Banking!
May 12, 2023