Lighter Capital

JANUARY 11, 2022

Ready to arm yourself with knowledge that will help you make the best financing decisions to keep growing a healthy business? For example, the right to buy $X dollars worth of shares in your company (usually calculated as 1-5% of the loan). If your startup does well, the warrant can be worth a lot of money to the lender.

Debt Financing 52

Debt Financing Equity Finance Start-ups 52

ThomsonReuters

DECEMBER 7, 2022

companies are taking advantage of a perk available to them courtesy of the Foreign Trade Zones Act of 1934. What is a Foreign-Trade Zone? Foreign-Trade Zones (FTZs) are specially designated sites near U.S. In addition to customs deferrals and exemptions, FTZs can help companies save money in many other ways as well.

Compliance 59

Compliance Marketability 59

ThomsonReuters

MARCH 1, 2024

Some examples include—but are not limited to—the following: Business vehicle expenses Charitable donations Real-estate taxes Self-employment health insurance Marketing and advertising costs Salaries and employee benefits Business-related travel expenses Professional fees/organizational dues Training/education General business expenses (e.g.,

Start-ups 52

Start-ups Dividends Marketability 52

Lighter Capital

MAY 28, 2020

Here are some considerations to keep in mind as you evaluate the best financing options for your business—today, and in the long-run as you continue to reach for growth milestones. When you start to compare growth capital options, you’ll quickly learn that different lenders have vastly different terms.

Finance 52

Finance Debt Financing Start-ups Equity 52

Brian DeChesare

JANUARY 10, 2024

If you miss undergrad recruiting or change careers, you can also get into IB via lateral hiring or from a top MBA program , but these paths take more time (and money!), There’s less money to go around because the fees are lower, as most groups charge 0.5% – 1.0% and your odds are not spectacular. on assets under management.

Banking 59

Banking Start-ups Equity Corporate Finance 59

Brian DeChesare

APRIL 5, 2023

When you ask most people about their “career goals,” they sound something like this: Make a lot of money or gain power/prestige. Trade Surpluses – Some countries, like Singapore, are not rich in commodities but serve as trade hubs and generate significant revenue from these activities. Take little-to-no risk.

Equity 59

Equity Start-ups Private Equity Firm Banking 59

Brian DeChesare

JANUARY 31, 2024

Portfolio Structure: Unlike MM portfolios, SM portfolios do not have to be market–neutral or based on pair trades; many SM funds also tend to run much more concentrated portfolios (e.g., Think: “Hundreds of millions in AUM up to a few billion” – a lot of money, but tiny by the standards of the largest hedge funds and asset managers.

Start-ups 59

Start-ups Equity Marketability Banking 59

Cooley M&A

JANUARY 23, 2024

For example, in the biopharma space, AbbVie, Bristol Myers Squibb, AstraZeneca, and Roche each announced multiple big-ticket acquisitions in the fourth quarter – including Abbvie’s acquisition of ImmunoGen for $10.1 Moving into Q2 of 2023, roughly 29% of US public biotech companies traded below their cash value. billion, Mirati for $5.8

Marketability 52

Marketability Equity Private Equity Firm Finance 52

Reynolds Holding

SEPTEMBER 9, 2022

The Securities Act of 1933 was about companies raising money from the public. The basic idea was that the public deserves disclosure and protections not only when a security is initially issued, but also on an ongoing basis when the security is traded in the secondary markets. Congress knew the job still wasn’t done.

Marketability 49

Marketability Compliance Start-ups Banking 49

Audit Board

MAY 15, 2023

The timeline and potential advantages and disadvantages outlined in the article below will continue to be relevant, and companies should be aware as they weigh their options. companies that trade within the EU. This is a decision that each company needs to make in its best interest. trillion U.S.-EU but all U.S. data flows.

Compliance 52

Compliance Start-ups Technology 52

Brian DeChesare

DECEMBER 21, 2022

For example, what about NYU CAS or non-Wharton options at UPenn? Larger/established firms still care about brand names, but smaller/newer firms care more about performance than pedigree, similar to prop trading firms. do some networking for “Plan B” options afterward). Q: Does this new environment benefit anyone?

Banking 92

Banking Start-ups Finance EBITDA 92

Audit Board

MAY 18, 2023

companies that trade within the EU. This is a decision that each company needs to make in its best interest. For those weighing the options, the decision could come down to analyzing the time currently spent negotiating contracts and filling in transfer impact assessments and questionnaires. trillion U.S.-EU but all U.S.

Compliance 52

Compliance Start-ups Technology 52

Brian DeChesare

JANUARY 19, 2022

Business Model – Unlike financial institutions such as brokerages, exchanges, and investment banks, financial sponsors invest directly in companies and assets and profit or lose money from those investments; they don’t earn money from commissions charged on trades or deals. There are many other differences as well.

Private Equity Firm 84

Private Equity Firm Banking Equity Finance 84

Brian DeChesare

FEBRUARY 16, 2022

For example: Goldman Sachs – Includes “Public Sector and Infrastructure” as an industry group within investment banking. Also, many municipal bond issuers have large derivatives portfolios, adding to the complexity and explaining why public finance is sometimes grouped within fixed income trading. Industry Trends, Drivers, and Updates.

Finance 66

Finance Banking Equity Marketability 66

Brian DeChesare

SEPTEMBER 14, 2022

For example, if you work in Debt Capital Markets or Leveraged Finance or a closely related area such as corporate banking , technically, you are a “credit analyst.”. The same applies if you’re working in sales & trading on a fixed income trading desk, such as corporate bonds. The Credit Analyst Career Path.

Finance 87

Finance Banking Corporate Finance Start-ups 87

Brian DeChesare

FEBRUARY 22, 2023

Sell-Side Definition: In the finance industry, “buy-side firms” raise money from institutions and wealthy individuals and invest on their behalf, profiting from management fees, performance fees, or both; “sell-side firms” earn money from commissions charged to facilitate deals and to sell, market, and trade equity, debt, and other securities.

Finance 129

Finance Marketability Banking Corporate Finance 129

ThomsonReuters

AUGUST 24, 2023

In general, businesses are not able to deduct in one year the full cost of property they produced, purchased, or improved upon and placed into use either in their trade, or business, or income-producing activity if the property is a capital expenditure. equipment, vehicles, and machines ), this method may be the best fit.

Start-ups 87

Start-ups Marketability 87

Brian DeChesare

AUGUST 10, 2022

For example, Morgan Stanley has an “Energy” group that includes oil & gas, while Goldman Sachs and BofA both put it in “Natural Resources.”. And regardless of your experience, you do need a demonstrated interest in the industry to have the best shot at getting in. Different banks classify their oil & gas groups differently.

Banking 94

Banking EBITDA Dividends Equity 94

Brian DeChesare

SEPTEMBER 13, 2023

Distressed Debt Hedge Funds Definition: Distressed debt hedge funds buy and sell debt that is trading at a steep discount to face value, such as 40%+, and make money by betting on changes in the price of this debt or using it to gain influence in a restructuring or bankruptcy process.

Equity 96

Equity Banking EBITDA Start-ups 96

Brian DeChesare

NOVEMBER 30, 2022

So, as with every other career, it’s important to understand your exit options. For example, maybe you have to do a lot of “sourcing” (cold calling), which you dislike. And while the salary + bonus + carried interest levels are high, you probably don’t want to stay in a job you dislike for 10+ years just to make money.

Equity 95

Equity Banking Start-ups Marketability 95

Musings on Markets

JUNE 9, 2021

In the last three years, SPACs (special purpose acquisition companies) have given traditional IPOs a run for their money, and in this post, I look at whether they offer a better way to go public or are more of a stop on the road to a better way to go public. What is a SPAC? Going Public?

Start-ups 52

Start-ups Marketability Banking Corporate Finance 52

Brian DeChesare

MAY 24, 2023

I’ll do a deep dive into the entire space in this article, including the top funds, example trades, recruiting, exit opportunities, and more. It’s the best of both worlds because they can analyze deals and put money behind their views without grinding through deal processes or forcing changes. revenue and 11.5x

Equity 64

Equity Start-ups EBITDA Banking 64

Brian DeChesare

JULY 27, 2022

Anyone who’s ever traded stocks can understand long/short equity , and even simple global macro trades are easy to explain to the average person. This definition already feels difficult to understand, so a quick example might help. You might also look at this trade and say, “Wait a minute.

Equity 52

Equity Start-ups Private Equity Firm Beta 52

Musings on Markets

JANUARY 5, 2024

In this, the first of the data posts for this year, I will describe my data, in terms of geographic spread and industrial breakdown, the variables that I estimate and report on, the choices I make when I analyze data, as well as caveats on best uses and biggest misuses of the data. will reflect the most recent quarterly accounting filing.

Dividends 98

Dividends Risk Premium Equity Book Value 98

Brian DeChesare

MARCH 16, 2022

You’ll even have an advantage over public markets professionals ( sales & trading , asset management , other hedge funds , etc.) That said, I’m not convinced that merger arbitrage – betting on M&A deals closing – is necessarily the “best” type of fund for bankers to target.

Start-ups 59

Start-ups Equity Marketability Banking 59

Reynolds Holding

NOVEMBER 15, 2022

Money ordered in SEC actions, comprising civil penalties, disgorgement, and pre-judgment interest, totaled $6.439 billion, the most on record in SEC history and up from $3.852 billion in fiscal year 2021. Of the total money ordered, civil penalties, at $4.194 billion, were also the highest on record. “A billion, including a record $4.2

Compliance 45

Compliance Marketability Technology Alpha 45

Brian DeChesare

MAY 18, 2022

Some global macro trade ideas are so simple that the average person who knows nothing about finance could understand them. But the execution is extremely difficult, which explains why some of the largest trading losses in history have come from macro-oriented ideas (“short nickel,” European index futures, oil and gas futures, etc.).

Banking 52

Banking Equity Marketability Finance 52

Brian DeChesare

FEBRUARY 15, 2023

The two best-known firms are Barrenjoey and Jarden , both of which were formed by former UBS bankers (among others). As in these other regions, you still need previous finance-related internships to have a good shot, and you should intern at a large bank and convert it into a full-time role for the best chance of breaking in.

Banking 97

Banking Finance Equity Start-ups 97

Reynolds Holding

AUGUST 10, 2023

Harvard Law School Professor John Coates, for example, said pass-through voting’s implementation costs would far outweigh its potential benefits. But why, when fund managers have a fiduciary duty to act in the best interests of the fund, would investors what to do that? The answer lies in the differing definitions of best interests.

Start-ups 52

Start-ups 52

Reynolds Holding

OCTOBER 19, 2022

Legislative and Regulatory Definitions and Examples in the Privacy Context. Colorado and Connecticut law use the same definition, with Connecticut adding that a dark pattern “includes, but is not limited to, any practice the Federal Trade Commission refers to as a ‘dark pattern’.”. Enforcement Trends. Regulatory Guidance.

Marketability 45

Marketability 45

Brian DeChesare

JUNE 1, 2022

The “classification tree” is simple because this sector is quite narrow: Of these verticals, electricity is easily the most important one; ~90% of publicly traded utility companies are involved in electricity in some way. For example, is the birth rate rising or falling? Recruiting into Power & Utilities Investment Banking.

Banking 98

Banking Equity Book Value Capital Structure 98

Musings on Markets

DECEMBER 10, 2023

In this section, I will start with the practices used by appraisers to try to adjust the pricing of businesses for the presence or potential loss of a key person and then move on to how markets react to the loss of key personnel at publicly traded companies.

Key Person Discount 113

Key Person Discount Start-ups Price to Book Marketability 113

Audit Board

JUNE 8, 2023

Let’s take the Sarbanes-Oxley (SOX) Act as an example. These are an example of the types of questions you can expect to be asked in a compliance audit. Publicly traded companies have their financial statements audited on an annual basis, incorporating the stipulations of the Sarbanes-Oxley Act (SOX). What type of evidence?

Compliance 52

Compliance Start-ups Technology Accounting Firms 52

ThomsonReuters

FEBRUARY 8, 2024

For example, business deductions can be claimed as capital expenditures which are subtracted from the LLC’s gross income. Business meals/entertainment Travel Uncollected debts Medical/healthcare expenses Property/rent Tools and technology Self-employment taxes Tip : Don’t just throw receipts in a shoebox and hope for the best.

Start-ups 52

Start-ups Dividends Technology Marketability 52

Brian DeChesare

NOVEMBER 2, 2022

It might be the best place to gain diverse deal experience based on region, industry, and transaction type. For example, an offer in Restructuring at PJT Partners in London – the top team there – is very different from an offer in an industry group. So, is London the best place to be an investment banker after New York?

Banking 87

Banking Start-ups Finance Equity 87

Reynolds Holding

APRIL 11, 2022

Moreover, the Securities and Exchange Commission (SEC) reiterated in light of the COVID-19 crisis the importance of maintaining market integrity and adhering to corporate controls and procedures, particularly with respect to material nonpublic information (MNPI) and insider trading.

Banking 45

Banking Marketability Equity Compliance 45

Reynolds Holding

OCTOBER 5, 2022

On June 30, 2022, in a 6-3 split decision, the Supreme Court held that the Environmental Protection Agency (“EPA”) lacks the authority to change the Clean Air Act’s definition of “best system of emission reduction.” West Virginia v. Environmental Protection Agency , 142 S. 2587, 2610 (2022). Next, the court considered Blasius.

Start-ups 72

Start-ups Marketability Equity Compliance 72