Brian DeChesare

SEPTEMBER 14, 2022

The commonality is that they can be useful side doors into the finance industry, especially if you got started late , earned lower grades , or did not complete enough internships : What is a “Credit Analyst”? The same applies if you’re working in sales & trading on a fixed income trading desk, such as corporate bonds.

Finance 79

Finance Banking Corporate Finance Start-ups 79

Musings on Markets

JANUARY 12, 2021

I also start thinking about my passion, which is teaching, the spring semester to come, and the classes that I will be teaching, repeating a process that I have gone through every year since 1984, my first year as a teacher. Face up to uncertainty, rather than avoid or deny it : Uncertainty is a feature of investing/ business, not a bug.

Corporate Finance 52

Corporate Finance Start-ups Finance Marketability 52

Brian DeChesare

APRIL 20, 2022

But IB summer internship recruiting has become far more competitive, everything starts earlier, and full-time recruiting for non-interns is close to “endangered species” status. is more than a year before the internship start date, but it’s later in the U.K. Also, even within one level, some large banks might start very early (e.g.,

Banking 115

Banking Corporate Finance Finance Start-ups 115

Valutico

AUGUST 17, 2022

Valutico has once again made finance professional’s lives easier by announcing the launch of the Venture Capital (VC) method for valuing start-ups, available for the first time within its online platform. . One difficulty with valuing start-ups is that they have less financial history behind them.

Start-ups 52

Start-ups EBIT Weighted Average Cost of Capital Discounted Cash Flow 52

Reynolds Holding

DECEMBER 14, 2022

Top practitioners, judges, regulators, and scholars gathered at Columbia Law School on December 2 to offer their unique perspectives and cutting-edge insights on a variety of topics related to M&A and corporate governance. The day-long event started with a panel exploring current trends and trajectories in the M&A market.

Marketability 59

Marketability Start-ups Equity Corporate Finance 59

Mckinsey and Company

FEBRUARY 2, 2022

What it’s like to make the leap from ‘big food’ to a start-up, how market segmentation is evolving, and what the future of retail in an e-commerce world looks like.

Start-ups 68

Start-ups Marketability Corporate Finance Finance 68

Musings on Markets

JANUARY 30, 2023

If 2022 was an unsettling year for equities, as I noted in my second data post, it was an even more tumultuous year for the bond market. The rise in rates transmitted to corporate bond market rates, with a concurrent rise in default spreads exacerbating the damage to investors.

Treasury 74

Treasury Start-ups Risk Premium Equity 74

Brian DeChesare

JANUARY 18, 2023

Definitions: What is “Finance,” and What is a “Good Career”? And yes, it’s difficult to advance, but the rapid growth in compensation as you move up more than offsets that difficulty. The need for a sequence of internships/jobs , which heavily penalizes students who start late and professionals who want to change careers.

Finance 119

Finance Start-ups Banking Corporate Finance 119

Brian DeChesare

JANUARY 10, 2024

The Nature of the Work: Markets, Analysis, Sales, and Interpersonal Skills Wealth management (WM) requires broader knowledge of the financial markets since you may have to advise clients on everything from their portfolio allocations to upcoming tax changes. The truth is that both claims are correct but incomplete.

Banking 59

Banking Start-ups Equity Corporate Finance 59

Musings on Markets

DECEMBER 15, 2021

At the start of every semester for as long as I can remember, I have invited people to sit in informally on my classes at NYU or take the shorter online versions on my website. If you have a bigger budget, I would try to emulate Professor Andrew Lo , who described his astounding set up for teaching last year.)

Corporate Finance 56

Corporate Finance Finance Start-ups Technology 56

Musings on Markets

JANUARY 8, 2022

To start the year, I returned to a ritual that I have practiced for thirty years, and that is to take a look at not just market changes over the last year, but also to get measures of the financial standing and practices of companies around the world. Happy New Year, and I hope that 2022 brings you good tidings!

Risk Premium 91

Risk Premium Start-ups Market Capitalization Corporate Finance 91

Brian DeChesare

MARCH 27, 2024

Unfortunately, there’s a lot of “group think” here, driven by endless forum threads and student groups over-hyping and over-marketing the concept. Banks are also to blame because they now market spring weeks to students as young as 16. middle-market banks (Jefferies, Houlihan Lokey, etc.), They do not exist in the U.S.,

Banking 95

Banking Start-ups Finance Corporate Finance 95

IVSC

FEBRUARY 25, 2022

” Market demand for professionals accredited in business valuation is currently at an all-time high. The CBV has been the leading valuation credential here in Canada for half a century and is quite well respected in our market and beyond. Market demand for CBVs, and those working toward a CBV, is at an all-time high.

Business Valuation 130

Business Valuation Intangible Assets Corporate Finance Marketability 130

IT Valuations

DECEMBER 21, 2021

Most of us business owners did not go to school to start a business. Rather, we followed our interests and our passions, and then only later did we end up starting our own companies. To get this knowledge, we recommend taking free (or paid) courses from the Corporate Finance Institute (CFI). Listen, I get it.

Corporate Finance 40

Corporate Finance Start-ups Business Valuation Finance 40

Musings on Markets

JANUARY 24, 2024

As we start 2024, the interest rate prognosticators who misread the bond markets so badly in 2023 are back to making their 2024 forecasts, and they show no evidence of having learned any lessons from the last year. The Fed Effect: Where's the beef?

Treasury 52

Treasury Risk Premium Start-ups Risk-free Rate 52

Brian DeChesare

APRIL 24, 2024

But then recruiting moved up, the MBA process became more structured, and now we have 4-year-olds aiming for “Target Kindergartens” so they can eventually get into investment banking ~15 years in the future. I’ll answer these questions, but, as usual, we need to start with some descriptions: Table Of Contents What is a Pre-MBA Internship?

Start-ups 59

Start-ups Banking Finance Equity 59

Brian DeChesare

SEPTEMBER 29, 2022

Although there are some advantages to IB in Canada, it’s almost always better to start a finance career in the U.S. But when you consider the recruiting landscape, compensation, and exit opportunities, Canada comes up short in most areas. Canada is significantly smaller than the U.S. Canada is significantly smaller than the U.S.

Banking 94

Banking Start-ups Private Equity Firm Equity 94

Brian DeChesare

MARCH 22, 2023

it’s starting to feel a lot like 2008. Before delving in, though, I want to start with the elephant in the room: I was partially wrong ~5 months ago when I wrote about Credit Suisse, UBS, and Deutsche Bank, and whether they would become Lehman Brothers 2.0. OK, But What Was the Catalyst for the Run on Credit Suisse?

Banking 90

Banking Start-ups Corporate Finance Marketability 90

Brian DeChesare

MARCH 8, 2023

If you want to work in the most cyclical role in the finance industry, it’s hard to beat commodity hedge funds. But a few related areas, such as commodity desks at banks, commodity trading advisors (CTAs), and physical commodity trading shops could put up a good fight for that “most cyclical” title. per bushel.

Finance 110

Finance Start-ups Banking Alpha 110

Brian DeChesare

NOVEMBER 15, 2023

But earlier in 2023, the CFA Institute announced the biggest changes to the program since it started. Financial Modeling or Python / Data Science / AI: Starting in 2024, you must complete a “Practical Skill Module” on one of these topics for Levels I and II of the exam. The huge time commitment required to pass the exams.

Banking 59

Banking Start-ups Finance Private Equity Firm 59

Brian DeChesare

AUGUST 23, 2023

All the large investment banks – bulge brackets , elite boutiques , and middle-market firms – use internships as a recruiting tool for Analysts and Associates. If you perform well and the bank has enough spots, you’ll get a “return offer,” which means you can start working full-time at the bank the following year after graduation.

Banking 52

Banking Start-ups Finance Marketability 52

Brian DeChesare

FEBRUARY 15, 2023

The Big 4 Australian banks – ANZ, Commonwealth, NAB, and Westpac – are also very active, but primarily in debt capital markets , where they do more volume than the international banks mentioned above. Many “ In-Between-a-Banks ,” such as RBC and HSBC, also have a presence in Australia, but more on the capital markets side than M&A.

Banking 94

Banking Finance Equity Start-ups 94

Brian DeChesare

JUNE 15, 2022

The debate about the front office, middle office, and back office in the finance industry is one of the sillier and more exhausting ones. If you look online, you’ll find many threads, articles, and blog posts saying that back office (BO) and middle office (MO) jobs are “the worst” and that if you end up there, your career is over.

Banking 94

Banking Treasury Start-ups Finance 94

Brian DeChesare

MAY 11, 2022

If you have more than 2 – 3 years of full-time work experience after university , it will be very difficult to get in at the Analyst level (estimated age cut-off of 25 , but it may be more like 27 – 28 depending on when you started the degree). but not different ages. You’ll probably need a top MBA at this stage.

Banking 98

Banking Start-ups Finance Private Equity Firm 98

Reynolds Holding

MAY 18, 2022

The Gold Standard of Capital Markets. These statutes created requirements and regulations around disclosure, registration, exchanges, and broker-dealers, and established the SEC to oversee the markets. laws became the gold standard for capital markets around the world. More retail investors than ever are accessing our markets.

Marketability 59

Marketability Finance Corporate Finance Technology 59

Brian DeChesare

DECEMBER 21, 2022

Just look at the financial markets, the crypto meltdown, deal volume at banks, inflation, energy prices, Russia/Ukraine, supply chains, and the hiring environment in tech and finance. But let’s start with my favorite topic: “ranking” banks, schools, and maybe a TV series or three. Bank, School, Dragon, and TV Rankings.

Banking 85

Banking Start-ups Finance EBITDA 85

Brian DeChesare

DECEMBER 14, 2022

For example, if a school hasn’t placed well in the past 2-3 years but still has thousands of alumni in the finance industry, should it be a “target”? It’s still useful to look at the numbers, but they should only be a starting point. It starts a bit later in Europe and Asia, so the dates might be slightly delayed there.

Banking 52

Banking Finance Start-ups Corporate Finance 52

Musings on Markets

FEBRUARY 27, 2023

That may reflect the concern that once a person or entity starts borrowing to fund its needs, it is easy to overuse debt, and risk its wellbeing in the process. Even government-owned businesses fall under its umbrella, with the key difference being that equity is provided by the taxpayers.

Equity 52

Equity EBITDA Start-ups Net Debt 52

Brian DeChesare

APRIL 13, 2022

It seems like a simple strategy: buy a stock if you think it’s going up and sell or short a stock if you think it’s going down. The market underestimated the revenue potential of its replacement drug Xywav, acquired drugs Epidiolex, Zepzelca, and a few Phase 2 and 3 trial drugs.

Equity 91

Equity Start-ups Banking Marketability 91

Musings on Markets

FEBRUARY 27, 2022

In this post, I will look at corporate profitability, in all its different dimensions, and how companies across the globe, and across industries, measured up in the most recent years. IFRS and GAAP now treat as leases as debt, but that is still not the case in many other markets that are not covered by either standard).

Start-ups 80

Start-ups Equity Book Value Marketability 80

Brian DeChesare

AUGUST 31, 2022

But before delving into the best candidates for these roles, typical trades, careers, and more, let’s start with the basic definitions: What is a Convertible Arbitrage Hedge Fund? But with convertible arbitrage and other relative value strategies, the overall market’s results do not matter (to the same degree).

Banking 67

Banking Risk-free Rate Equity Start-ups 67

Brian DeChesare

NOVEMBER 2, 2022

On the other hand, some have raised questions about the future of finance in the U.K. We’ll address these points here, but let’s start with a quick industry overview: Investment Banking in London: Top Banks and Industries. Below them are the Big 4 corporate finance teams and smaller U.K. Mediobanca in Italy and France).

Banking 79

Banking Start-ups Finance Equity 79

Reynolds Holding

JANUARY 22, 2024

Alan’s legacy and work at the Commission staff still resonates on the securities industry and market participants today. Alan served as Director of the Division of Corporation Finance (“CorpFin”) from 1970 to 1976. 10] If we were starting from scratch, consideration should be given to streamlining the number of exemptions.

Start-ups 45

Start-ups Marketability Price to Earnings Finance 45

Reynolds Holding

APRIL 3, 2024

Let me start by reminding you that my views are my own as a Commissioner and not necessarily those of the Securities and Exchange Commission (“SEC”) or my fellow Commissioners. Since I gave that speech, a particularly pernicious weed has sprung up in the secret garden: Staff Accounting Bulletin (“SAB”) 121 and related guidance. [2]

Start-ups 45

Start-ups Banking Marketability Compliance 45

ThomsonReuters

JULY 8, 2021

Pavlo Boyko, a global solutions architect for TMF Group, helps clients develop solutions for multi-country finance and tax process outsourcing. During the podcast, Boyko noted a strong consensus among corporate finance leaders regarding the importance of centralization. That’s our guiding principle.

Technology 98

Technology Finance Compliance Corporate Finance 98

Brian DeChesare

SEPTEMBER 13, 2023

Distressed debt investing offers advantages over other hedge fund strategies , but the marketing often oversells the benefits. These percentages mean the market is pricing in a high likelihood of creditor losses in a restructuring or bankruptcy. “Distressed assets offer non-correlated returns, similar to global macro.”

Equity 88

Equity Banking EBITDA Start-ups 88

ThomsonReuters

AUGUST 2, 2021

After a SPAC goes public, it can take up to two years for it to pick and announce the company that it wants to acquire or merge with, a move that marks the start of the de-SPAC process. Units of a SPAC’s IPO are registered under the Securities Act on?a a Form S-1 registration statement. Confusion around safe-harbor statements.

Corporate Finance 52

Corporate Finance Equity Finance Compliance 52