Investment Banks, Hedge Funds, and Private Equity

ISBN-13: 9780124158207 / Angielski / Twarda / 2012 / 672 str.

David Stowell

Opis

The dynamic environment of investment banks, hedge funds, and private equity firms comes to life in David Stowell's introduction to the ways they challenge and sustain each other. Capturing their reshaped business plans in the wake of the 2007-2009 global meltdown, his book reveals their key functions, compensation systems, unique roles in wealth creation and risk management, and epic battles for investor funds and corporate influence. Its combination of perspectives--drawn from his industry and academic backgrounds--delivers insights that illuminate the post-2009 reinvention and acclimation processes. Through a broad view of the ways these financial institutions affect corporations, governments, and individuals, Professor Stowell shows us how and why they will continue to project their power and influence.

• Emphasizes the needs for capital, sources of capital, and the process of getting capital to those who need it.
• Integrates into the chapters ten cases about recent transactions, along with case notes and questions
• Accompanies cases with spreadsheets for readers to create their own analytical frameworks and consider choices and opportunities.

Recenzje

"A comprehensive introduction to Investment Banking and Private Equity. Loaded with intricate details, it contains a unique frame of reference on best practices on both subjects. The book defines diverse concepts in clear and concise terms, and readers will benefit from valuable insights and expertise to vet opportunities that meet risk and reward objectives." --Viney Sawhney, Boston National Capital Partners and Harvard University

"It is the best on the subject that I have found, and I have been teaching for fifteen years. As long as Professor Stowell keeps it current it will be a valuable source of information on these three topics." --Charles Murphy, New York University

"In the first edition David Stowell gave students and accessible way to develop a deep understanding of financial firms. The new version smoothly and successfully integrates the lessons from the financial crisis and how the industry has evolved." --Jonathan Brogaard, University of Washington

"Books on investment banking are few and far between and mostly out of date. Usually they are very academic or written by lawyers rather than by someone who understands the business. This one, written by a former practitioner, gives students of investment banking just the insights they need into the nexus of investment banking, private equity and hedge funds." --Brian Scott-Quinn, Chair in Investment Banking, ICMA Centre, Henley Business School, University of Reading

"Investment banking is in permanent change. This new book on investment banking describes the most recent trends that have taken place in the industry, in particular the interaction between investment banking and the hedge funds and private equity businesses. This is an exhaustive and up-to-date guide to the major banking activities. The different themes covered in the book are illustrated by fascinating real life cases. The book by David Stowell will become the new reference on investment banking." --Pierre Hillion, INSEAD

"A clearly written account of several popular segments of the global financial services industry. Students who wish to enhance their understanding of the banking system would benefit from reading this book." --Sanjay Gupta, Swiss Finance Academy

Spis treści

Section One: Investment Banking1. Overview of Investment Banking2. Regulation of the Securities Industry3. Financings4. Mergers and Acquisitions5. Trading6. Asset Management, Wealth Management and Research7. Credit Rating Agencies, Exchanges and Clearing and Settlement8. International Banking9. Convertible Securities and Wall Street Innovation10. Investment Banking Career Opportunities and Trends

Section Two: Hedge Funds and Private Equity11. Overview of Hedge Funds12. Hedge Fund Investment Strategies13. Shareholder Activism and Impact on Corporations14. Risk, Regulation and Organizational Structure15. Hedge Fund Issues and Performance16. Overview of Private Equity 17. LBO Financial Model18. Private Equity Impact on Corporations19. Organization, Compensation, Regulation and Limited Partners20. Issues and Opportunities

Section Three: Case Studies21. Investment Banking in 2008 (A): Rise and Fall of the Bear22. Investment Banking in 2008 (B): A Brave New World23. Freeport-McMoRan: Financing an Acquisition24. The Best Deal Gillette Could Get? Procter & Gamble's Acquisition of Gillette25. A Tale of Two Hedge Funds: Magnetar, Peloton, CDOs, and the 2008 Financial Crisis26. Kmart, Sears, and ESL: How a Hedge Fund Became One of the World's Largest Retailers27. McDonald's, Wendy's, and Hedge Funds: Hamburger Hedging? Hedge Fund Activism and Impact on Corporate Governance28. Porsche, Volkswagen and CSX: Cars, Trains and Derivatives29. The Toys "R" Us LBO30. Cerberus and the U.S. Auto Industry

O autorze

David P. Stowell is a professor of finance at Northwestern University's Kellogg School of Management, where he teaches classes that focus on investment banking, hedge funds and private equity. He also teaches undergraduate courses on these topics at Northwestern University, University of Utah, and Utah State University.

Prior to joining Northwestern in 2005, he was managing director at JP Morgan, working in Chicago with responsibility for part of the firm's mid-west investment backing business. In addition, he worked in investment banking at UBS as managing director and co-head of U.S. equity capital markets, and at Goldman Sachs, where he managed an equity derivatives business and worked in corporate finance in New York and Tokyo. He was also a managing director at O'Connor Partners, a hedge fund based in Chicago.

He graduated from Utah State University with a BA in Economics and from Columbia University's Graduate School of Business with an MBA in Finance. In addition to his current teaching responsibilities, he manages Paradigm Partners, a boutique investment bank that provided M&A and capital raising services and general advice in investment banking, hedge fund, and private equity activities to selected clients.