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Sell side vs Buy side Analysts
 
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This video discusses the difference between sell-side analysts and buy-side analysts. Sell-side analysts typically work for a brokerage firm or an investment bank and follow one or more companies within a specific industry. They forecast a company's earnings per share, issue a price target for the stock, and provide buy/sell/hold recommendations in the hope that investors would find the information useful and choose to do business with their investment bank or brokerage firm. Buy-side analysts, on the other hand, typically work for a pension fund, charitable foundation, or other large investor. The buy-side analyst's job is to identify attractive investment opportunities for their employer. A pension fund with $100 million to invest would rely on buy-side analysts to determine the appropriate investment strategy. Buy-side analysts in turn may interact with and rely on the information provided by sell-side analysts. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 7100 Edspira
5. Buy Side vs Sell Side in an Investment Bank
 
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In this video on Buy Side vs Sell Side, we discuss the top differences between the Buy Side vs Sell Side. Also, we look at how Buy Side and Sell Side are related to the Investment banking firms. Sell Side - In the context of Investment banking, we firm to the equity research department as sell side and the analysts are called as sell-side analysts. They are called as sell side as equity research firms provide research reports to the investors and the investors take trading decisions based on the reports. The trading is facilitated through the investment bank, thereby earning them a commision. Buy Side - The opposite of sell side is buy side. Equity research firms provide research to investors on the Buy Side. Buy Side firms are large institutions investors like Mutual funds, Insurance firms, pension funds etc. The analysts who work for a buy-side is known as a Buy Side Analyst. For more details, you may refer to this indepth article on Buy Side vs Sell side - https://www.wallstreetmojo.com/sell-side-vs-buy-side/
Views: 1128 WallStreetMojo
Buy Side versus the Sell Side: Traders at Hedge Funds and Banks
 
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Buy Side versus the Sell Side: Traders at Hedge Funds & Banks. David Morrison comments. PLEASE LIKE AND SHARE so we can bring you more! Systematic versus Discretionary Traders Some common misconceptions about traders. Discuss each of the following: - Buy side versus sell side: traders at a hedge fund or prop firm taking on risk to maximize reward versus traders at an investment back that are trying to maximize flow by matching bids and offers. - Systematic versus discretionary: traders who write computer code for strategies that can be backtested versus traders who research particular theses to trade on that are not based on a model or cannot be backtested (or use their intuition). This is talking about institutions and the professional trades; knowing what they're up to is good for us private investors/traders. A sell side analyst or broker would go to institutions telling them that they ought to buy this and that. The buy side are the Proprietary traders who are taking positions on behalf of institutions and they are there to make money. The sell side are the salesmen, the buy side are the one who are really there to make money from proprietary trading. It has been argued that the investments banks have become little more than hedge funds and they should be more honest about it. A hedge funds isn't necessarily transparent in what its buying or selling but its very transparent in what its trying to do in that its trying to invest money for wealthy people in a bid to make more money. The banks today are themselves operating like hedge funds. Looking at Goldman Sachs or JB Morgan; they would go for a whole year without incurring a loss in their proprietary trading; how can that be possible? The only real difference between a hedge fund and a banking institution is that if a hedge fund blows up no one cares but if a bank then we are on the hook for it as taxpayers! So should the likes of Barclays or others be doing that kind of trading? About trading systems and automated trading systems. There are ways of building your own black box system and also making available to other people and earn money from it.
Views: 10211 UKspreadbetting
Sell-Side M&A – CH 6 Investment Banking Valuation Rosenbaum
 
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The sale of a company, division, business, or collection of assets is a major event for its owners, management, employees, and other stakeholders. It is an intense, time-consuming process with high stakes, usually spanning several months. The seller typically hires an investment bank and its team of trained professionals to ensure that key objectives are met and a favorable result is achieved. This video covers sell-side M&A from chapter 6 of the Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions textbook by Joshua Rosenbaum and Joshua Pearl. Questions answered in the video include? - What is a broad auction? - What is a targeted auction? - What is a negotiated sale? - What is the sell-side M&A process from start to finish? - What is the difference between a strategic and financial buyer? - What is a Confidential Information Memorandum (CIM)? - What is a letter of intent (LOI)? - One step vs two-step merger For those who are interested in buying the Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions by Joshua Rosenbaum and Joshua Pearl, follow the Amazon link below; https://www.amazon.ca/Investment-Banking-Valuation-Leveraged-Acquisitions/dp/1118656210 If you have any other questions, please comment below. If you enjoyed the video and found it helpful, please like and subscribe to FinanceKid for more videos soon! For those who may be interested in finance and investing, I suggest you check out my Seeking Alpha profile where I write about the market and different investment opportunities. I conduct a full analysis on companies and countries while also commenting on relevant news stories. http://seekingalpha.com/author/robert-bezede/articles#regular_articles
Views: 2152 FinanceKid
WST: Overview of Financial Mkts - Buy-Side vs Sell-Side
 
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Wall St. Training Self-Study Instructor, Hamilton Lin, CFA introduces the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview. This course is offered FREE for six months at: http://www.wstselfstudy.com Register for this course FREE at: http://www.wstselfstudy.com/register For more information of the video courses previewed here, go to: http://www.wstselfstudy.com/modules.html Over 80 hours of online, interactive Self-Study Videos! ***SPECIAL YOUTUBE OFFER*** Receive 20% off 5 month purchase at: http://www.wstselfstudy.com Use Discount code: youtube20 Wall St. Training Self-Study provides online, video-based, self-study financial modeling training solutions to Wall Street. Our interactive course modules are Excel-based and specialize in advanced and complex financial modeling, valuation modeling, investment banking, mergers & acquisitions and leveraged buyout training topics. Enhance your skills and master the content required by Wall Street investment banks, M&A, research, asset management, credit, and private equity firms.
Views: 22234 wstss
Sell-side vs. Buy-side
 
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For more information, visit www.wallstreetwannabe.com. If you have suggestions on what topics I should cover in future videos, please email me at [email protected] Thank you for watching.
Views: 3036 Wall Street Wannabe
What is SELL SIDE? What does SELL SIDE mean? SELL SIDE meaning, definition & explanation
 
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What is SELL SIDE? What does SELL SIDE mean? SELL SIDE meaning - SELL SIDE definition - SELL SIDE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Sell side is a term used in the financial services industry. The three main markets the sell side sells these entities on would be the stock, bond, and foreign exchange market.It is a general term that indicates a firm that sells investment services to asset management firms, typically referred to as the buy side, or corporate entities. One important note, the sell side and the buy side work hand in hand and each side could not exist without the other. These services encompass a broad range of activities, including broking/dealing, investment banking, advisory functions, and investment research. In the capacity of a broker-dealer, "sell side" refers to firms that take orders from buy side firms and then "work" the orders. This is typically achieved by splitting them into smaller orders which are then sent directly to an exchange or to other firms. Sell side firms are intermediaries whose task is to sell securities to investors (usually the buy side i.e. investing institutions such as mutual funds, pension funds and insurance firms). Sell side firms are paid through commissions charged on the sales price of the stock to its customers because the firm handles all the details of the trade on the customers behalf.Another source of money would be the idea of a spread. A spread is the difference when one sell side firm sells to a client and then goes on to sell the security to another client. Clients on the sell side can be high-net-worth individuals or institutions that include retirement funds for cities or states, as well as mutual funds. Sell side firms employ research analysts, traders and salespeople who collectively strive to generate ideas and execute trades for buy side firms, enticing them to do business. Sell side analysts have many roles. Sell side analysts rank stocks on a regular basis with three main options: buy, sell and hold. Part of the research analyst's job includes publishing research reports on public companies, these reports analyze their business and provide recommendations on the purchase or sale of the stock.Many times research analysts on the sell side cover an entire fund with a specific purpose or devoted to a specific sector. Sometimes a different approach is taken where by multiple committees are in charge of different parts of the investment making process. Sell side analysts generally get their information for their reports from a variety of sources including public and private sources. The research reports ultimately published contain earnings forecasts, future prospects and recommendations as previously mentioned. In addition to the aforementioned, sell side analysts have the responsibility to take time and develop relationships with their clients as well as the companies they are researching. There has been research into the relationship between the quality of the research and the amount of capital that the firm collectively raises for its many clients. Many research analysts focus on one particular sector or industry such as telecom, technology, healthcare, among many others. Sell side analysts are responsible for creating a pitch, usually in the form of a book, that are then presented to prospective clients usually for new stock. ...
Views: 703 The Audiopedia
CH 6 Questions - Sell-Side M&A, Investment Banking Valuation Rosenbaum
 
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Once you’ve watched the full CH6 video and learned about the sell-side M&A process, test your knowledge with these 15 questions! I walk through the examples and tie what we learned in the chapter video to these questions. So what did we learn? - What is a broad auction? - What is a targeted auction? - What is a negotiated sale? - What is the sell-side M&A process from start to finish? - What is the difference between a strategic and financial buyer? - What is a Confidential Information Memorandum (CIM)? - What is a letter of intent (LOI)? This video covers chapter 6 of the Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions textbook by Joshua Rosenbaum and Joshua Pearl. For those who are interested in buying the Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions by Joshua Rosenbaum and Joshua Pearl, follow the Amazon link below; https://www.amazon.ca/Investment-Banking-Valuation-Leveraged-Acquisitions/dp/1118656210 If you have any other questions, please comment below. If you enjoyed the video and found it helpful, please like and subscribe to FinanceKid for more videos soon! For those who may be interested in finance and investing, I suggest you check out my Seeking Alpha profile where I write about the market and different investment opportunities. I conduct a full analysis on companies and countries while also commenting on relevant news stories. http://seekingalpha.com/author/robert-bezede/articles#regular_articles
Views: 544 FinanceKid
What's the difference between investment banking and private equity?
 
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Sherjan Husainie, of Leaders Global Network, offers career workshops in ten major cities around the world. He has worked in both investment banking at Morgan Stanley and in private equity at Google Capital. For more info, visit http://www.leadersgn.com/
Views: 177485 Career Insider Business
Buy side vs sell side
 
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Sherjan Husainie, founder of Leaders Global Network, talks about the differences between working on the buy side and sell side. Visit his website at http://www.leadersgn.com/ Subscribe to this channel and like us on Facebook: https://www.facebook.com/careerinsiderbusiness/
Sell Side and Buy Side process of Investment Banking
 
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Please subscribe to the channel and leave a comment below. http://www.businessarin.com
What is Buy Side (Investing) ?
 
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Buy-side firms are those that comprise Wall Street’s investing institutions. They are mutual funds, pension funds, insurance firms and other institutional investors. They buy large portions of securities for their clients or themselves. The buy side is the opposite of Wall Street’s sell side, which is comprised of brokerage firms and investment banks. Sell-side firms provide individual investors and the general public with recommendations on upgrades, downgrades, target prices and other options. Usually, a buy-side analyst works in a non-brokerage firm, such as a mutual fund or a pension fund, and provides research and recommendations intended exclusively for the firm’s money managers. Their information is not for individual investors. Buy-side analysts are looking for a formula or approach that profits their firms. They look for promising investments that fit within their fund’s strategy. If they find one, they keep it secret from the public. The number of profitable recommendations buy-side analysts make determines their success. Those who provide the most are deemed the most talented. Read more: http://www.investopedia.com/video/play/buy-side/ Copyright © Investopedia.com
Views: 1031 Xargo
Buy Side vs Sell Side | Top 7 Differences | Compensation
 
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In this video on Buy Side vs Sell Side, we are going to discuss this topic in detail, including the infographics. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐒𝐞𝐥𝐥 𝐒𝐢𝐝𝐞? ------------------------------ Sell side includes the entities which facilitate the decision making of the buy side. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐁𝐮𝐲 𝐒𝐢𝐝𝐞? ------------------------------ Buy side includes entities that are involved in making the Investment Decisions. 𝐅𝐢𝐫𝐦𝐬 𝐈𝐧𝐯𝐨𝐥𝐯𝐞𝐝 𝐢𝐧 𝐒𝐞𝐥𝐥 𝐒𝐢𝐝𝐞 𝐚𝐧𝐝 𝐁𝐮𝐲 𝐒𝐢𝐝𝐞 --------------------------------------------------------------------- Sell Side includes firms like Commercial Banking, Market Makers, Investment Banking, Stock Brokers and other corporates. Buy Side includes Hedge Funds, Asset Managers, Retail Investors, Institutional Investors. 𝐖𝐡𝐚𝐭 𝐁𝐮𝐲 𝐒𝐢𝐝𝐞 𝐃𝐨? -------------------------------- Buy Side refer to the analysis or price given by the investment Banks (Sell Side) for taking their Investment decisions. They also have a pool of funds which is used for investing. 𝐖𝐡𝐚𝐭 𝐒𝐞𝐥𝐥 𝐒𝐢𝐝𝐞 𝐃𝐨? ------------------------------- Sell side companies closely keep track of the Stocks. Sell side essentially “sell ideas” to the clients and in most cases these ideas are communicated for free. Sell side work revolves around Financials & Annual reports which includes detailed analysis of the Quarterly results To know the more differences about Sell Side and Buy Side, you can go to this 𝐥𝐢𝐧𝐤 𝐡𝐞𝐫𝐞:
Views: 372 WallStreetMojo
Buy Side Sell Side Analyst, Job Description of Equity Research Analyst
 
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For details, visit: http://www.financewalk.com Buy Side Sell Side Analyst, Job Description of Equity Research Analyst Sell Side Analysts and Buy Side Analysts So, after knowing the job description, working conditions and career development opportunities, you have decied to be an equity research analyst. Now, tell me- do you want to work on the buy side or the sell side? Confused? Don't know what's the sell side and what's the buy side? Let me explain.. All equity and credit analysts perform research in order to make buy and sell recommendations. The ultimate user of those recommendations and the clients who pay the bills determine if you are on the buy side or the sell side. Sell Side Analysts • Sell side analysts, also known as equity research analysts, are generally the analysts you see on financial news channels recommending stocks. They perform research and make recommendations that are sold to others to use -- this is why you see them on television. Sell side analysts do not use the research for their own portfolios, their goal is to sell their research to others to use in their portfolios. Generally, their research is sold to the buy side -- buy side analysts are the clients of sell side analysts. • Sell side analysts closely follow companies and issue research reports and earnings models for their coverage universe. Their coverage universe is usually focused on a specific niche or sector ( e.g. Telecom, Healthcare, Metal). If you've ever listened to a company's quarterly conference call, then you've listened to sell side analysts as they are typically on the calls asking questions of management. • One key difference between buy side and sell side analysts is the role of marketing. Sell side analysts spend a large amount of time talking to existing clients and potential new clients about their research. Their job is to convince institutional investors (i.e., buy side analysts) that their research is worth paying for --through trading commissions with their firm. • Backing up a bit, sell side analysts are typically employed by two types of firms: the large, bulge bracket brokerage houses and investment banks that are household names or smaller, boutique research shops that only provide research. The larger firms have trading desks, so a portion of the trading commissions generated are paid in exchange for access to that firms sell side research. For the smaller firms without trading desk, the research is typically paid through cash. • Another key difference between buy side analysts and sell side analysts applies to those sell side analysts at the large brokerage firms that have investment banks. One role of the investment bank is to raise capital for public companies -- the same public companies that its research analysts cover. This creates a serious conflict of interest because the investment bankers don't want its research analysts slapping SELL ratings on companies where they are trying to raise capital. Sarbanes-Oxley has rules that strengthened the Chinese walls between the research groups and the bankers, but the internal conflict is still there and evidenced by the very high percentage of BUY recommendations issued by analysts compared to an almost zero number of SELL ratings.
Views: 11697 Avadhut Nigudkar
Sell-side vs. Buy-side
 
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In this episode Dino breaks down the concepts of sell side vs buy side. For more information, visit www.wallstreetwannabe.com. If you have suggestions on what topics I should cover in future videos, please email me at [email protected]
Views: 842 Wall Street Wannabe
Bloomberg Terminal Stock Research: Sell Side Analyst
 
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Research of the Bloomberg Terminal Sell Side Analyst screens. How to best use the sell side analysts for Bloomberg
Views: 2051 Matthew Minnis
Sell Side Investment Banking - Advisory part
 
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http://www.qcfinance.in/ Course Link CFA L1/L2 FRM Part I/CQF - https://www.wiziq.com/course/77618-opt-your-choice-cfa-level-i-cfa-level-ii-frm-part-i-cqf
Views: 104 Satyadhar Joshi
How good is investment banking as a career
 
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How good is investment banking as a career Investment Bankers can work as buy-side or sell-side for equity and debt transactions Investment Banking is a preferred career choice owing to : a) Tonnes of money b) Great intellectually stimulating work c) Access to promoters and CFOs - thus networking d) Fast growth However the flipside is high work hours : 80-100 hours a week Playlists Random Reflections | GST | Career | Financial Planning | Inspiring Speeches https://www.youtube.com/user/poweryourpreparation/playlists #AnuragSingalYouTube
Views: 6324 Anurag Singal
What is the Buy Side?
 
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An introduction to the buy side. What is it? What do buy side analysts do? What skills do you need to succeed? - created at http://goanimate.com/
Views: 5493 BuySideBoundTV
6.  Sales And Trading in an Investment Bank
 
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In this video on Sales and Trading, we discuss What is Sales & Trading, Role of Sales Function in Investment Banking and role of Trading in Investment Banking Role of Sales and Trading in an Investment Bank The sales team are in touch with the clients like the Mutual Funds, Portfolio Managers, Insurance companies etc. Sales team appraise them about the industry knowledge, market movements, and recommendations of buy and sell. Since the sales team do not perform financial analysis, they rely on their equity research teams for inputs. Sales team scout for trading by their clients to earn commissions. Trading team in an Investment Bank Once the trade order is received from the Sales Team, the trading team executes the order in such a way that it is most beneficial to its clients (by way of lowest price for buy or highest price for sell) For more detail, please refer to https://www.wallstreetmojo.com/sales-and-trading-in-investment-banking/"
Views: 1225 WallStreetMojo
What is INVESTMENT BANK? What does INVESTMENT BANK mean? INVESTMENT BANK meaning
 
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What is INVESTMENT BANK? What does INVESTMENT BANK mean? INVESTMENT BANK meaning. An investment bank is a financial institution that assists individuals, corporations, and governments in raising financial capital by underwriting or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services (fixed income instruments, currencies, and commodities). Unlike commercial banks and retail banks, investment banks do not take deposits. From the passage of Glass–Steagall Act in 1933 until its repeal in 1999 by the Gramm–Leach–Bliley Act, the United States maintained a separation between investment banking and commercial banks. Other industrialized countries, including G7 countries, have historically not maintained such a separation. As part of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act of 2010), the Volcker Rule asserts full institutional separation of investment banking services from commercial banking. The two main lines of business in investment banking are called the sell side and the buy side. The "sell side" involves trading securities for cash or for other securities (e.g. facilitating transactions, market-making), or the promotion of securities (e.g. underwriting, research, etc.). The "buy side" involves the provision of advice to institutions that buy investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, and hedge funds are the most common types of buy-side entities. An investment bank can also be split into private and public functions with a Chinese wall separating the two to prevent information from crossing. The private areas of the bank deal with private insider information that may not be publicly disclosed, while the public areas, such as stock analysis, deal with public information. An advisor who provides investment banking services in the United States must be a licensed broker-dealer and subject to U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulation.
Views: 5992 The Audiopedia
Investment Banking vs Equity Research | Best Differences You Must Know!
 
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In this video on Investment Banking vs Equity Research, we will see the conceptual differences between these two finance domains. along with examples and also what works and what doesn’t. What are the roles of an Investment Banker? ------------------------------------------------------------------------ Investment Bankers job is to do an extensive research on financial deals, They also co-ordinate with the deal makers to execute the major deals. They also act as an mediator between the investors and the the business which are need of financing. Hence, Investment Bankers are the major decision makers of the business. What are the roles of an Equity Researcher? --------------------------------------------------------------------- Their role is to create the valuation models. and also the research reports through which the major decisions are being made. They are expert in valuating the companies, financial modeling, financial statement analysis etc. Education required for Investment Banker ------------------------------------------------------------------ 1. CFA is a good option to opt for an Investment Banker 2. MBA also seems to be an better option too, as MBA offers an incredible opportunity to network which CFA never provide. Education required for Equity Researcher ----------------------------------------------------------------- 1. To become an Equity Research Analyst, CFA is right course to do. CFA is a affordable course with the comparison of MBA Course. BUt Compared to MBA, CFA is very hard to complete. It has three levels which are the must to do, if you want to get the certificate. 3 Important Skills required for an Investment Banker ----------------------------------------------------------------------------------- 1. They must have a ability to create great client relationships. 2. They must being able to manage both small and large transactions. 3. They must be able to negotiate a deal with huge success. Skills required for Equity Researcher --------------------------------------------------------- 1. Researching and Analysis skills are of vital importance for equity research analysts. 2. All the huge financial deals are done on the basis of their calculation and analysis For more information regarding this, you can go to:- https://www.wallstreetmojo.com/Investment-Banking-vs-Equity-Research/
Views: 407 WallStreetMojo
Basics of Equity Research Career, Pay, Salary
 
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For details, visit: http://www.financewalk.com Basics of Equity Research Career, Pay, Salary Equity research analysts work on both the sell side and the buy side. Sell-side researchers will work at an investment bank or independent research company, while the buy side typically indicates hedge funds, mutual funds or investment management. On the sell side, researchers develop earnings and cash-flow models of the companies they follow. The research is driven by stock performance: Is Infosys, for example, a good investment for a shareholder? A sell-side analyst will cover a specific group of companies and -know more about less- compared to a buy-side analyst. For example, an analyst might cover 10 Healthcare companies, write reports and make presentations to the clients, which may include investment managers like Fidelity and Morgan Stanley.. On the buy side, an analyst will follow 20 to 40 companies in two to three different sectors. The buy-side analyst focuses on suitability elements for the client involved. They don't publish their research like sell-side analysts do, but instead feed their insights to the portfolio managers who are managing money for the client. Reports can range from two to three pages after a company's earnings to 10 to 15 pages for a longer outlook piece. Not all analysts have to cover companies, however. Some analysts analyze macro trends across countries and for that you have to stay on top of current events. The Pay The pay includes salary + bonus. This bonus depends on the performance of the analyst The Lifestyle The hours required are less intensive than investment-banking hours. You need to put 10-12 hours every day. If you're working as an analyst on the sell side, arrive early. Sell side firms produce morning packages for the clients and so you need to come early. The position may offer greater flexibility than other finance jobs. At some equity research firms in Mumbai, analysts work 50 to 60 hours a week Your output is measured in terms of research and not the number of hours you put in.
Views: 16256 Avadhut Nigudkar
Wall Street Sell Side Analyst
 
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Never trust a sell side analyst.
Views: 401 scottab140
What's in an Equity Research Report?
 
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In this tutorial, you'll learn what goes into an equity research report, including how it differs from a stock pitch in terms of structure and argument, the main sections of the reports, and how you might write your own reports. http://www.mergersandinquisitions.com/equity-research-report/ Table of Contents: 1:43 Part 1: Stock Pitches vs. Equity Research Reports 6:00 Part 2: The 4 Main Differences in Research Reports 12:46 Part 3: Sample Reports and the Typical Sections 20:53 Recap and Summary Part 1: Stock Pitches vs. Equity Research Reports The main difference is that equity research reports are like "watered-down" stock pitches: you still recommend for or against investment in a public company, but your views are weaker, "Sell" recommendations are rare, and you spend a lot more time describing the company and its operations and financials. By contrast, in hedge fund stock pitches you take more extreme views and spend more time explaining how your views differ from those of the market as a whole. Part 2: The 4 Main Differences in Research Reports 1) There's More Emphasis on Recent Results and Announcements 2) Far-Outside-the-Mainstream Views Are Less Common 3) Research Reports Give "Target Prices" Rather Than Target Price Ranges 4) The Investment Thesis, Catalysts, and Risk Factors Are "Looser" Part 3: Sample Reports and the Typical Sections The main sections of a report are as follows: Page 1: Update, Rating, Price Target, and Recent Results The first page of an "Update" report states the bank's recommendation (Buy, Hold, or Sell, sometimes with slightly different terminology), and gives recent updates on the company. A specific "target price" must be based on specific multiples and specific assumptions in a DCF or DDM. So with Jazz, we explain that the $170.00 target is based on 20.7x and 15.3x EV/EBITDA multiples for the comps, and a discount rate of 8.07% and Terminal FCF growth rate of 0.3% in the DCF. Next: Operations and Financial Summary Next, you'll see a section with lots of graphs and charts detailing the company's financial performance, market share, and important metrics and ratios. For a pharmaceutical company like Jazz, you might see revenue by product, pricing and # of patients per product per year, and EBITDA margins. For a commercial bank like Shawbrook, you might see loan growth, interest rates, interest income and net income, and regulatory capital figures such as the Common Equity Tier 1 (CET 1) and Tangible Common Equity (TCE) ratios: This section of the report explains how the research analyst/associate forecast the company's performance and came up with the numbers used in the valuation. Valuation The valuation section is the one that's most similar in a research report and a stock pitch. In both fields, you explain how you arrived at the company's implied value, which usually involves pasting in a DCF or DDM analysis and comparable companies and transactions. The methodologies are the same, but the assumptions might differ substantially. In research, you're also more likely to point to specific multiples, such as the 75th percentile EV/EBITDA multiple, and explain why they are the most meaningful ones. Investment Thesis, Catalysts, and Risks This section is short, and it is more of an afterthought than anything else. We do give reasons for why these companies might be mispriced, but the reasoning isn't that detailed and it's not linked to specific share prices. Banks present Investment Risks mostly so they can say, "Well, we warned you there were risks and that our recommendation might be wrong." http://www.mergersandinquisitions.com/equity-research-report/
Learn About All the Steps in an M&A Deal | Corporate Finance Institute
 
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Learn About All the Steps in an M&A Deal | Corporate Finance Institute Learn about all the steps in a typical M&A deal from start to finish. This tutorial on the mergers and acquisitions process is a chapter from our full Corporate Finance Course. Enroll in the full course to earn a certificate: http://courses.corporatefinanceinstitute.com/courses/introduction-to-corporate-finance -- FREE COURSES & CERTIFICATES -- Enroll in our FREE online courses and earn industry-recognized certificates to advance your career: ► Introduction to Corporate Finance: https://courses.corporatefinanceinstitute.com/courses/introduction-to-corporate-finance ► Excel Crash Course: https://courses.corporatefinanceinstitute.com/courses/free-excel-crash-course-for-finance ► Accounting Fundamentals: https://courses.corporatefinanceinstitute.com/courses/learn-accounting-fundamentals-corporate-finance ► Reading Financial Statements: https://courses.corporatefinanceinstitute.com/courses/learn-to-read-financial-statements-free-course ► Fixed Income Fundamentals: https://courses.corporatefinanceinstitute.com/courses/introduction-to-fixed-income -- ABOUT CORPORATE FINANCE INSTITUTE -- CFI is a leading global provider of online financial modeling and valuation courses for financial analysts. Our programs and certifications have been delivered to thousands of individuals at the top universities, investment banks, accounting firms and operating companies in the world. By taking our courses you can expect to learn industry-leading best practices from professional Wall Street trainers. Our courses are extremely practical with step-by-step instructions to help you become a first class financial analyst. Explore CFI courses: https://courses.corporatefinanceinstitute.com/collections -- JOIN US ON SOCIAL MEDIA -- LinkedIn: https://www.linkedin.com/company/corporate-finance-institute-cfi- Facebook: https://www.facebook.com/corporatefinanceinstitute.cfi Instagram: https://www.instagram.com/corporatefinanceinstitute Google+: https://plus.google.com/+Corporatefinanceinstitute-CFI YouTube: https://www.youtube.com/c/Corporatefinanceinstitute-CFI
WST: Overview of Financial Mkts - Sales & Trading Explained
 
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Wall St. Training Self-Study Instructor, Hamilton Lin, CFA introduces the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview. This course is offered FREE for six months at: http://www.wstselfstudy.com Register for this course FREE at: http://www.wstselfstudy.com/register For more information of the video courses previewed here, go to: http://www.wstselfstudy.com/modules.html Over 80 hours of online, interactive Self-Study Videos! ***SPECIAL YOUTUBE OFFER*** Receive 20% off 5 month purchase at: http://www.wstselfstudy.com Use Discount code: youtube20 Wall St. Training Self-Study provides online, video-based, self-study financial modeling training solutions to Wall Street. Our interactive course modules are Excel-based and specialize in advanced and complex financial modeling, valuation modeling, investment banking, mergers & acquisitions and leveraged buyout training topics. Enhance your skills and master the content required by Wall Street investment banks, M&A, research, asset management, credit, and private equity firms.
Views: 26460 wstss
What Is Sell Side Equity Research?
 
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What Is Sell Side Equity Research?. Part of the series: Personal Finance Tips. If you're going to be spending a lot of time in the world of investing you should familiarize yourself with terms like "sell side equity research." Find out about sell side equity research with help from the manager at an independent investment advisory firm in this free video clip. Read more: http://www.ehow.com/video_12199675_sell-side-equity-research.html
Views: 1796 ehowfinance
What is Investment Banking? What do Investment Bankers Do?
 
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★★★★★ Enroll in this course for just $9.99 (30 day 100% money back guarantee): https://www.udemy.com/the-complete-financial-analyst-training-and-investing-course/?couponCode=YT72218 Course Description: ★★★★★ #1 Best Selling Investing Course on Udemy! Welcome to The COMPLETE Financial Analyst Training and Investing Course by the author of the best selling business course on Udemy, an award winning professor, Columbia MBA graduate, former Goldman, hedge fund founder, venture capitalist, TEDx Talk speaker, author & entrepreneur featured in Forbes, Business Insider, Wired and Venture Beat. I guarantee that this is THE most thorough financial analyst course available ANYWHERE on the market - or your money back. This is the most thorough and longest course I have ever made and anyone can take it and see remarkable improvements in how competitive they are in the finance industry as a financial analyst or as an investor. This course is taught by Chris Haroun who also went through the Goldman Sachs financial analyst training program as well as the new hire training programs of other top finance companies. Chris has also started his own hedge fund and venture capital firms and is an award winning MBA school professor. He teaches based on real life practical experience. Do you have what it takes to complete this 22+ hour comprehensive finance training program? I'll see you on the other side. What Will You Learn in this Finance Bootcamp Course? How to pick stocks. Become an expert in Excel for financial analysts. How an IPO works. How to manage a portfolio. How to build financial models. How to get hired and promoted as a financial analyst. How risk management works. How to use technical analysis. How to value companies. Use and create Excel based templates developed by Chris to help you create financial statements from scratch (meaning income statements, balance sheets, cash flow statements and more). Use and create Excel based templates developed by Chris to help you value companies using several different valuation methodologies, including P/E, P/R and Discounted Cash Flow (DCF). Use and create Excel based templates developed by Chris to help you manage a portfolio. How Monetary Policy works. How Fiscal Policy works. How interest rates are changed and why this is crucial to understand for successful financial analysts. How to pitch long and short ideas to portfolio managers. How to find great venture capital investment ideas. How to come up with mutual fund investment ideas (longs - meaning buys) using an easy to understand top down and bottoms up research process. How to come up with hedge fund investment ideas (longs and shorts) using an easy to understand top down and bottoms up research process. Identify crucial catalysts (timed events) in order to know when the optimal time is to buy or short a stock. Understand how investment banks (the 'Sell Side') can help you be more successful in a hedge fund or mutual fund career. Analyze and understand an income statement (even if you have no experience with income statements). Analyze and understand a balance sheet (even if you have no experience with balance sheets). Analyze and understand a cash flow statement (even if you have no experience with cash flow statements). Understand and use modeling best practices so you can create financial models. Know where to get data in order to build a financial model (in depth understanding of identifying and using/navigating the best free websites and sources to build your financial model)! Create a financial model (projecting the future) for an income statement. Create a financial model (projecting the future) for a balance sheet. Create a financial model (projecting the future) for a cash flow statement. Understand valuation best practices so you can create target prices based on your financial models. How to use Discounted Cash Flow (DCF) and how to create the Weighted Average Cost of Capital and Terminal values in order to pick target prices. How to use P/E in order to pick target prices. How to use P/R in order to pick target prices. Other valuation methodologies, including EV/Sales, EV/EBITDA, P/B, EV/FCF, etc. Come up with a target price based on an average of several different valuation methodologies. Learn about 14 different Financial Analyst jobs and how they overlap and work together (including Investment Banking, Venture Capital, Private Equity, Private Wealth Management etc.). Enroll in this course for just $9.99 (30 day 100% money back guarantee): https://www.udemy.com/the-complete-financial-analyst-training-and-investing-course/?couponCode=YT72218
Investment Banks
 
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An investment bank is a financial institution that assists individuals, corporations, and governments in raising capital by underwriting or acting as the client's agent in the issuance of securities (or both). An investment bank may also assist companies involved in mergers and acquisitions and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services (fixed income instruments, currencies, and commodities). There are two main lines of business in investment banking. Trading securities for cash or for other securities (e.g. facilitating transactions, market-making), or the promotion of securities (e.g. underwriting, research, etc.) is the "sell side", while buy side is a term used to refer to advising institutions concerned with buying investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, and hedge funds are the most common types of buy side entities.
Views: 93 Mind Trader
WST: Overview of Financial Mkts - Investment Bank Hierarchy
 
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Wall St. Training Self-Study Instructor, Hamilton Lin, CFA introduces the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview. This course is offered FREE for six months at: http://www.wstselfstudy.com Register for this course FREE at: http://www.wstselfstudy.com/register For more information of the video courses previewed here, go to: http://www.wstselfstudy.com/modules.html Over 80 hours of online, interactive Self-Study Videos! ***SPECIAL YOUTUBE OFFER*** Receive 20% off 5 month purchase at: http://www.wstselfstudy.com Use Discount code: youtube20 Wall St. Training Self-Study provides online, video-based, self-study financial modeling training solutions to Wall Street. Our interactive course modules are Excel-based and specialize in advanced and complex financial modeling, valuation modeling, investment banking, mergers & acquisitions and leveraged buyout training topics. Enhance your skills and master the content required by Wall Street investment banks, M&A, research, asset management, credit, and private equity firms.
Views: 15771 wstss
How to Become an Investment Banker Methodology - Investment Banking University
 
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First, you are going to want to clarify whether you would like to work on the sell side for a few years or pursue a career in investment banking. The skills that you will need to get started in investment banking are different than those that you will need to have a long and successful career in investment banking. The role in investment banking transforms from one that is research, financial modeling & valuation based into one focused on origination and facilitating the M&A process. M&A (Mergers & Acquisitions) is the core product of investment banking, and the other products, advisory & capital-raising, simply support this. We founded Investment Banking University (www.InvestmentBankingU.com) to answer that very question and prepare students for both bulge bracket and middle market investment banking career opportunities. The following is a short free workshop presentation that we give to our prospective students that will help to answer your question. How to Become an Investment Banker Methodology: Coverage Index building Vertical report Vertical newsletter Target screen & origination Mandate/target matching Deal structuring Buyer/seller meeting logistics Adjusted EBITDA calculation Valuation Offer analysis Purchase agreement drafting/structuring Due diligence data room Closing & flow of funds
The Role of Analysts
 
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This video discusses the role of analysts in financial markets. Analysts serve as financial intermediaries, which means they examine the disclosures made by firms and issue a report summarizing their findings. Analysts closely scrutinize company's financial statements, ask company executives questions during conference calls, and may even visit the company before preparing their reports and issuing recommendations. Other market participants rely on the reports and recommendations made by analysts to make investing and lending decisions. There are two types of analysts: sell-side analysts and buy-side analysts. While both types of analysts perform the activities mentioned above, there are some important differences. Sell-side analysts typically work for a brokerage firm or an investment bank. They forecast a company's earnings per share, issue a price target for the stock, and provide buy/sell/hold recommendations in the hope that investors would find the information useful and choose to do business with their investment bank or brokerage firm. Buy-side analysts, on the other hand, typically work for a pension fund, charitable foundation, or other large investor. The buy-side analyst's job is to identify attractive investment opportunities for their employer. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 2257 Edspira
BNP Paribas CIB - Trading Day
 
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Over a one day period we give you a snapshot into life trading on our London Floor.
Views: 392934 BNPParibasCIBStudent
WST: Overview of Financial Mkts - Asset Management Explained
 
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Wall St. Training Self-Study Instructor, Hamilton Lin, CFA introduces the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview. This course is offered FREE for six months at: http://www.wstselfstudy.com Register for this course FREE at: http://www.wstselfstudy.com/register For more information of the video courses previewed here, go to: http://www.wstselfstudy.com/modules.html Over 80 hours of online, interactive Self-Study Videos! ***SPECIAL YOUTUBE OFFER*** Receive 20% off 5 month purchase at: http://www.wstselfstudy.com Use Discount code: youtube20 Wall St. Training Self-Study provides online, video-based, self-study financial modeling training solutions to Wall Street. Our interactive course modules are Excel-based and specialize in advanced and complex financial modeling, valuation modeling, investment banking, mergers & acquisitions and leveraged buyout training topics. Enhance your skills and master the content required by Wall Street investment banks, M&A, research, asset management, credit, and private equity firms.
Views: 39007 wstss
Overview of Financial Markets - Investment Banking Explained
 
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Wall St. Training Self-Study Instructor, Hamilton Lin, CFA introduces the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview. This course is offered FREE for six months at: http://www.wstselfstudy.com Register for this course FREE at: http://www.wstselfstudy.com/register
Views: 86673 wstss
Investment Banking Course Video 1 - Investment Banking University
 
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There are many investment banking texts out there that claim that financial modeling and valuation is the core work of the investment banker. This is simply not the truth. The core work of the investment banker is origination, mandate/target matching, and deal structuring. It should follow that a text/course on investment banking should be based upon the same. It is the good fortune that the reader has encountered such a book/course. Investment Banking: M&A Origination, Execution, Financial Modeling & Valuation explains origination, mandate/target matching, and deal structuring (i.e. how investment bankers actually make their money). For those new to investment banking you are first going to want to clarify whether you would like to work on the sell side for a few years or pursue a career in investment banking. The skills that you will need to get started in investment banking are different than those that you will need to have a long and successful career in investment banking. The role in investment banking transforms from one that is research, financial modeling & valuation based into one focused on origination and facilitating the M&A process. M&A (Mergers & Acquisitions) is the core product of investment banking, and the other products, advisory & capital-raising, simply support this. We founded Investment Banking University (www.InvestmentBankingU.com) to prepare students for both bulge bracket and middle market investment banking career opportunities. We see a paradigm shift occurring in the field of investment banking. The idea that you need to spend three years of your life as an analyst doing 80+ hour workweeks building financial models to become an investment banker is a faulty paradigm. The real value add of an investment banker is not financial modeling & valuation, but rather origination, mandate/target matching, and deal structuring. You don’t need Goldman Sachs’ permission to be an investment banker just like you don’t need McKinsey’s permission to be a consultant. Investment banking for private companies in the middle market is a great way to build your initial coverage and career as an investment banker without sacrificing a family life or your health.
What is BUY SIDE? What does BUY SIDE mean? BUY SIDE meaning, definition & explanation
 
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What is BUY SIDE? What does BUY SIDE mean? BUY SIDE meaning - BUY SIDE definition - BUY SIDE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Buy-side is a term used in investment banking to refer to advising institutions concerned with buying investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, hedge funds, and pension funds are the most common types of buy side entities. In sales and trading, the split between the buy side and sell side should be viewed from the perspective of securities exchange services. The investing community must use those services to trade securities. The "Buy Side" are the buyers of those services; the "Sell Side", also called "prime brokers", are the sellers of those services. Sell side brokerages are registered members of a stock exchange, and required to be market makers in a given security. Buy side firms usually take speculative positions or make relative value trades. Buy side firms participate in a smaller number of overall transactions, and aim to profit from market movements and accruals rather than through risk management and the bid-offer spread. The 2010 Thomson Reuters Extel/UKSIF Survey shows that buy-side firms are placing more emphasis on sustainability issues in the research and advisory services they receive from brokers. Typically buy side firms do not provide custody services. Buy side can also refer to real estate. There is a sell side and a buy side in every transaction. While most real estate technology currently focuses on the sell side, there are a few companies that are developing tools for the buy-side.
Views: 804 The Audiopedia
What Is Investment Banking Services?
 
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An investment bank is typically a private company that provides various financial-related and other services to individuals, corporations, and governments such as raising financial capital by underwriting or acting as the clients agent in the issuance of securities. A global leader, we deliver strategic advice and solutions, including capital raising, risk management, trade finance services to our advisory raising are recognized as among the best in rely on morgan stanley's reputation a leader investment banking its business, credit suisse offers securities products financial corporations, governments institutional aug 1, 1998 tips! get started with learn how bank can help offer complete array of corporate for companies all sizes, across industries. Googleusercontent search. Suntrust robinson humphrey. Morgan products and services may not be available in certain regions. Please consult your j. Asp url? Q webcache. Investment banking financial definition of investment bankingmorganmorgan. Investment banking is a specific division of related to the creation capital for other financial intermediary that performs variety services an investment bank typically private company provides various and individuals, corporations, governments such as raising by underwriting or acting client's agent in issuance securities institution assists wealthy retail commercial. Definition of 'investment banking' the economic timescorporate and investment banking. Buy' side operations include services such as securities trading jun 21, 2011 investment banks facilitate flows of funds and allocations capital. The sell side typically refers to selling shares of newly issued ipos, placing definition investment banking is a special segment operation that they provide various types financial services, such as proprietary trading or our teams full suite advisory and financing solutions, from transa ctional products services team provides range institution variety for clients. Investment banking & capital markets morgan stanleyintroduction to investment bank services and. What is investment banking? How the banking industry goldman sachs our divisions bankingwall street oasis bank definition & example bank? The balance. Investing approachinvestment banking investopediainvestment faq wall street prep. What services can investment bankers provide, and how senior jan 1, 2017 many banks offer both buy side sell. Supporting a broad range of some j. After the repeal of glass steagall in 1999, investment banks now offer traditionally off limits services like commercial banking division (ibd) is at front end goldman sachs' client our industrial group provides and depth working division, you will be helping clients solve some their team approach to service enables bankers play an large global typically all three services, with smaller usually focusing more on side covering advisory this respect, operate along two main lines a 'buy' 'sell'. Among the services of an investment bank are underwriting, facilitating transactions, assisting banking. Investment banking investopedia terms i investment.
What is BOUTIQUE INVESTMENT BANK? What does BOUTIQUE INVESTMENT BANK mean?
 
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What is BOUTIQUE INVESTMENT BANK? What does BOUTIQUE INVESTMENT BANK mean? BOUTIQUE INVESTMENT BANK meaning - BOUTIQUE INVESTMENT BANK definition - BOUTIQUE INVESTMENT BANK explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ A boutique investment bank is a non-full service investment bank that specializes in at least one aspect of investment banking, generally corporate finance, although some banks are retail in nature, such as Charles Schwab. Of those involved in corporate finance, capital raising, mergers and acquisitions and restructuring and reorganizations are their primary activities. Due to their smaller size, capital raising engagements are usually done on a best-efforts basis. Boutique investment banks generally work on smaller deals involving middle-market companies, typically less than a billion dollars in revenues, and usually assist on the sell-side in mergers and acquisitions transactions. In addition, they sometimes specialize in certain industries such as media, health care, industrials, technology or energy. Some banks may specialize in certain types of transactions, such as capital raising or mergers and acquisitions, or restructuring and reorganization. Typically, boutique investment may have a limited number of offices and may specialize in certain geographic regions, thus the moniker, 'regional investment bank'. During 2014, The Financial Times New York Times, and The Economist all published favorable articles regarding the growing trend of corporations to hire boutique investment banks. Reasons cited included their absence of conflicts, independence, and skill of one or a relative few individuals. The discrediting of traditionally conflicted Wall Street Investment Banking firms, especially those listed as Full-Service or Conglomerates on the List of Investment Banks, due to their role in the creation or exacerbation of the Great Financial Crisis is cited as a primary reason for the ascendancy of these boutique firms. However, advances in technology which permit the outsourcing of all non-core aspects of the firm have also been cited as a cause of this David versus Goliath phenomenon. Working at boutique investment banks generally requires working fewer hours than at larger banks, even though the majority of boutiques are founded and led by former partners at large banks. As larger investment banks were hit hard by the Great Recession of the 2000s, many senior bankers left to join boutiques, some of which largely resemble the partnerships that ruled Wall Street in the 1970s and 1980s. Boutique investment banks took a greater share of the M&A and advising market at the same time. There are many boutique investment banks, both in the U.S. and internationally. Large, prestigious boutique firms include The Blackstone Group, Brown Brothers Harriman, and Piper Jaffray. While these may be national in scale, they are not international and full-service as are the so-called 'bulge bracket firms'. Smaller boutiques are commonly not household names, but within their niche may be quite well known.
Views: 428 The Audiopedia
WST: Overview of Financial Mkts - Alternatives & Hedge Funds
 
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Wall St. Training Self-Study Instructor, Hamilton Lin, CFA introduces the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview. This course is offered FREE for six months at: http://www.wstselfstudy.com Register for this course FREE at: http://www.wstselfstudy.com/register Wall St. Training Self-Study Instructor, Hamilton Lin, CFA introduces the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview. This course is offered FREE for six months at: http://www.wstselfstudy.com Register for this course FREE at: http://www.wstselfstudy.com/register
Views: 5112 wstss
Reggie Middleton Delves Deeper Into Wall Street Brokerage & Investment Banking Business Model
 
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Reggie Middleton answers the question: "Why hasn't anyone became wealthy trading Wall Street investment advice?" We believe Reggie Middleton and his team at the BoomBust bests ALL of Wall Street's sell side research. Since the inception of his BoomBustBlog, he has established an outstanding track record, including but not limited to, the fall of.... The housing market crash in the spring of 2006 and publicly in September of 2007 The collapse of Bear Stearns in January 2008 (2 months before Bear Stearns fell, while trading in the $100s and still had buy ratings and investment grade AA or better from the ratings agencies). The warning of Lehman Brothers before anyone had a clue!!! (February through May 2008). The fall of commercial real estate in general (September of 2007) and the collapse of General Growth Properties [nation's 2nd largest mall owner] in particular (November 2007). The collapse of state and municipal finances, with California in particular (May 2008). The collapse of the regional banks (32 of them, actually) in May 2008 as well as the fall of Countrywide and Washington Mutual The collapse of the monoline insurers, Ambac and MBIA in late 2007 & 2008. The overvaluation of Goldman Sachs from June 2008 to present) The ENTIRE Pan-European Sovereign Debt Crisis (potentially soon to be the Global Sovereign Debt Crisis) starting in January of 2009 and explicit detail as of January 2010: The Pan-European Sovereign Debt Crisis Ireland austerity and the disguised sink hole of debt and non-performing assets that is the Irish banking system. The mobile computing paradigm shift, May 2010.
Views: 3570 Reggie Middleton
Why pursue a career in investment banking?
 
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Leaders in Investment Banking founder and investment banking analyst Sherjan Husainie talks about why business students should consider a career in investment banking. Visit his website at http://www.leadersinib.com/Leaders_in_Investment_Banking/Welcome.html. Join us on Facebook (http://tinyurl.com/cibusinessfacebook) and follow us on Twitter (https://twitter.com/CIBusiness).
Views: 121224 Career Insider Business
Sell Side
 
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An Easy Overview Of Sell Side
Views: 2122 Christopher Hunt
Fantastic Sell Side Trading In The Market That Made For A Big Day!
 
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http://www.BecomeABetterTrader.com Rob is one of the most sought after professional traders available to the public. Sign up for his free daily trading strategy and market videos at www.becomeabettertrader.com and check the Upcoming Events section of our website for many more events with Rob. Important disclaimer and reminder for all Traders and Investors! These videos are for educational purposes only. Equities, Futures, Options, and Currency Trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Absolutely do not trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell equities, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this channel. The past performance of any trading system or methodology is not necessarily indicative of future results. Absolutely consult your Registered Financial Adviser and your Risk Trading Plan before ever investing or trading any financial instrument!
Who are involved in M&A transactions and what do they do?
 
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This video explains who are involved in M&A transactions and what they do. For an M&A deal to exist, we need a party to sell something and at least another one interested in buying it. These two main players are the seller and the buyer. As we explained at the beginning of this section, M&A transactions are generally very intense and time-consuming. That is why each of these main parties, the seller and the buyer, usually hire a team of well-trained professionals, M&A advisors, to manage the process from the beginning until the end. A sell-side M&A advisor runs the deal process on behalf of and along with the seller and is responsible of coordinating and managing the other sell-side advisors – if there is any – involved in the transaction. As you can see in here, and not surprisingly, the seller and the sell-side advisor stay in the process from the origination until the end. The buyers and the buy-side M&A advisors get into the picture at the marketing stage of the process when the seller and its advisors distributes the marketing documents to inform the potential buyers regarding the transaction. Usually, the buyer hires a buy-side M&A advisor once it is informed about the deal. The buy-side M&A advisor does pretty much everything we mentioned the sell-side advisors do, except the marketing work. In addition to the M&A advisor, the Seller might hire a legal M&A advisor to advice on the M&A related legal issues throughout the transaction including preparation and execution of the SPAs and SHAs. You may ask yourself but the seller, considering that it is a well-established business, should have an army of lawyer under its payroll right? Well, yes but the Seller’s in- house legal counsel – meaning its own employees – are usually not very experienced in M&A transactions which requires a totally different skillset and experience. So the Sellers usually prefers to give M&A related issues to a 3rd party advisor specialized in this kind of transactions while all other legal issues including providing the due-diligence requests and explaining the Seller’s important legal matters to the in-house legal counsel. If hired, the sell-side legal M&A advisor usually gets into the picture at the preparation stage. The buyer, for exactly the same reasons we just mentioned, usually hire a legal M&A advisor as well. In addition to the jobs of the sell-side legal M&A advisor, the buy-side legal M&A advisors also run the legal due-diligence process. The aim here is to assess the risk of Seller’s business from a legal standpoint. At the end of the due-diligence process, the buy-side legal M&A advisor issues a legal DD report with legal red flag issues – if there is any. The red flag issues are warnings that may impose a great risk to the buyer in case of an acquisition. For instance, the seller might have legal issues with unions or an important ongoing legal case that may affect its business activities negatively. The buy-side legal advisor gets into the picture at the due-diligence stage. The buy-side financial and tax advisor. These guys do an important job for the buyer by checking the accuracy of the Seller’s financial information and weighing its tax related risks. At the end of the due-diligence process, the buy-side financial and tax advisors issue a financial and tax DD report with red flag issues – if there is any. These report acts as a guidance for the buyer in adjusting its valuation of the Seller’s business. For instance, a one-off item which previously was considered as a recurring income can be found in Seller’s financials. That leads the Buyer to adjust its valuation of the Seller and thus its binding-offer downwards. The buy-side financial and tax advisors are hired for the purpose of due-diligence so they get into the picture at DD stage. And lastly, the buy-side technical advisor. Technical advisors can be considered as industry experts. These firms usually have expertise in a niche areas such as aviation, pharmaceuticals, biotechnology, port management, software development, cyber security, mining, petrochemicals etc. Technical advisor is responsible of assessing the conditions and accuracy of the Seller’s business from a technical and a commercial point of view. Consider a private equity fund bidding for an oil exploration business. The seller has some technical studies showing geothermal maps and other scientific evidence about its oil fields and claiming very rich reserves. Since you are fund, you probably don’t know about this stuff – you look at those maps and say aaaah yeah. So what do you do? You go and hire a technical advisor who can run a study on the findings and report back to you. Well, the buy side technical advisors is also hired for the purpose of due-diligence.
Views: 1295 M&A Analyst

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