Books on investment banking are few and far between and mostly out of date.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
instead of written by someone straight from the ivory tower theoritizing the banking system or some unintellectual painting an exaggerated picture, this book correctly and thoroughly introduces the major functions and relationships of banks, PE, and HF. even I am in the industry for years, I still learnt something new.
good brand new book, as the teacher asked for in class, he only ask us to read several case study in the ending of the book.
but the words inside this book are hard to understand, I need to check the dictionary when I meet the difficult word.
but good though
I recommend this to native readers but not international students.
This book is a really great introduction and background to IB, Hedge Funds, and PE. I would definitely recommend it for anyone looking to get all the basics they need to know about these industries. The explanations are clear without being too technical, and the cases are great illustrations of the topics discussed.
This is an amazing book with a unique perspective on todays financial world on the aftermath of the 2007/2008 near-financial meltdown.
The book is tremendously well written and covers pretty much everything in finance from Investment Banking to Private Banking and Hedge Funds. The fact that Professor Stowell actually spent his entire career in the industry while at Goldman Sachs, J.P. Morgan and UBS doing some of the deals discussed in the book is the single most important differentiating factor to any other books on the same topic.
Basically the book is divided into three main chapters:
(1) The Investment Banking World: This chapter includes a profound view on the Investment Banking world, covering structure, fees, deals, etc.
(2) The Hedge Fund / Private Equity World: This chapter includes an in-depth view of Hedge funds - their investment strategies, examples, issues they face in the current world (post 2007/08), insights on the main hedge funds, etc - and an in-depth view of the Private Equity Industry - analysis of LBOs, specific deals, legislative background, issues they face, etc.
(3) Case Studies - several case studies on each of the topics, from the fall of Lehman and Bears, to the derivatives deal behind Porsche's effect on Volkswagen's price jump
Whether you are a finance student, a prospective banker, or just a market follower, I strongly recommend this book as great tool to understand how these industries really work.
Finance students and prospective bankers will benefit from great insights and will learn from a perspective not usually taught - the investment world explained from the inside, with a very pragmatic approach to the day-to-day business and key deals.
Happy to answer any comments with further questions about the book.
I definitely recommend this textbook for anyone interested in learning about investment banking, hedge funds and/or private equity. I never truly understand the financial crisis until reading this book. David Stowell has extensive knowledge in the industry and is very good at articulating the complex functions of each entity in such a way that the average undergraduate (like myself) could understand them. It was a huge help for interviews as well. This book is a must-read for anyone considering a job in any of these fields.
This book provides incredible insight into the Investment Banking, Hedge Fund, and Private Equity industries. David Stowell does an excellent job of breaking down very complex industries into a clear, concise narrative that is a must-read for industry vets, career changers, and all business school students. This book comes at an ideal time when the financial services industry has gone through incredible changes, which only someone with Stowell's experience could articulate for a wide audience. The book uses a combination of easy to read textbook chapters and real-world case studies to dig into the three industries. This is the most valuable textbook I have read at Kellogg, and I will undoubtedly reference it throughout my career!
This is one of the few (if not only) textbooks out there that provides a broad yet comprehensive overview of the world of investment banks, hedge funds, and private equity, and how these three worlds intersect. Written by a Kellogg professor who used to be an investment banker at JPM, GS and UBS, this books represents an ideal balance between academia and real-world applicability. The book was written post-financial crisis and so presents some of the most up-to-date analysis of one of the most transformative events in recent financial industry history. In addition, there are ten case studies (including those on the financial crisis) that accompany the text as well as Excel modeling exercises to further help the student apply what they've read in the text to real-world examples. This is a great book for anyone interesting in pursuing a career in the industry, or anyone who is already in the industry, but perhaps would like to gain a better understanding of all the other components and counterparts to their business.
This truly practical guide to the investment banking, hedge fund and private equity world is a long overdue gift to the industry. As a practitioner, I strongly recommend this book to others in the industry. Written by a seasoned professional with extensive experience in both industry and academia, this book has served as a great desk reference for me and my Wall Street colleagues. For students, it will serve as a great supplement to more theory-based corporate finance curriculum. Stowell's clear and concise language, coupled with real-world case studies and knowledge from other prominent experts (from "Training the Street" valuation coaches to senior bankers and asset managers) make this book refreshingly unique in its approach and practicality. This book should be required reading for any junior professional in industry! I hope that investment banks and other Wall Street firms incorporate this book in their analyst and associate training programs as an enormously valuable guide and resource.
I used this book as the textbook for an MBA-level investment banking class at Kellogg, and I found the text to be a highly readable introduction to IB/HF/PE. This book excels across most any relevant dimension that one may desire for an introductory text (breadth, depth, clarity, timeliness, etc.). The reader benefits from the author's considerable senior-level industry experience and expertise, which was honed over a long and successful career at several top institutions (Goldman, JPMorgan, UBS, O'Connor; experience in US and Asia#. Thus, explanations are clear, authoritative, and concise, with the appropriate level of supplementary diagrams #e.g. diagrams to illustrate different securities). Although the text is an introduction, Stowell delves deeply into each topic, including transaction and security details, which makes this text valuable for a broad range of readers; non-US markets are also given coverage. The 10 case studies presented at the end of the text link well with the text. Overall, I recommend this book highly to those interested in or preparing for a career in IB/HF/PE, as well as to those with industry knowledge who want a broader understanding. I have not found the same level of quality and quantity of information in a single text related to these fields.
There are so few books written on the topic of hedge funds, private equity and investment banking. As a leading professor at Kellogg, Stowell deciphers the complex world of hedge funds, private equity and investment banking while also providing the perfect framework for understanding the history and evolution of each of these topics. This book and the case studies eliminate any confusion often found with the strategy and terminology within these three disciplines. This text is a must-have reference for anyone considering a career within these areas of finance.
This book is a must-read if you are interested either in entering the field of investment banking, or want to enhance your critical reading skills for finance. I find the book succint, simple to understand, and relevant to today's financial environment. Written by a Kellogg professor with years of investment banking experience working in such firms as Goldman Sachs, JPMorgan, and UBS, this book does an excellent job of surveying the structure, regulations, transactions, and products of the investment banking industry. Reading this book has given me a much broader perspective beyond the technical valuations taught by most other investment banking books. I know I will have an edge in my banking internship this summer!
Product Details :
Hardcover: 592 pages
Publisher: Academic Press; 1 edition (March 2, 2010)
Language: English
ISBN-10: 0123745039
ISBN-13: 978-0123745033
Product Dimensions: 7.2 x 1.2 x 10.2 inches
Shipping Weight: 2.8 pounds
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