Paperback: 384 pages
Publisher: For Dummies; 1 edition (February 10, 2014)
Language: English
ISBN-10: 1118615778
ISBN-13: 978-1118615775
Product Dimensions: 7.4 x 0.7 x 9.3 inches
Shipping Weight: 1.1 pounds (View shipping rates and policies)
Average Customer Review: 4.2 out of 5 stars See all reviews (8 customer reviews)
Best Sellers Rank: #49,776 in Books (See Top 100 in Books) #49 in Books > Business & Money > Economics > Banks & Banking #423 in Books > Business & Money > Investing
The first part of the book covers the functions involved in investment banking. It covers the differences between commercial and investment banking. It's very good on how investment bankers earn their money. It justifies their value to the business world. It's sparse on legislation and capital requirements. It's vague on what can constitute a bank asset, but I suppose that's realistically reflective of regulation uncertainty. There is nothing on the inordinate political power wielded by large investment banks. There is a section on corrupt practices, but banker bashing is not the purpose of the book.The second half contains cookbook formulas for risk investment written from a banking point of view that seeks to investigate potential operating improvement rather than emphasizing current value. The formulas don't include the important dividend coverage ratio. My guess is that's because it's important for dividend investors, but not so much for bankers interested in company valuation.There is history of success and failure of banking institutions like Goldman Sachs and Lehman. It cites LTCM as the first instance of a bailout on the basis of "too big to fail." There is a good section defining market sectors.While this book for "dummies" can be classified as a beginners guide it is very informative and far from trivial. One value of the book is that it can be read peace meal with a more careful reading deferred. It's a good reference for sources of data. It's a fine layman's introduction to investment banking functions. It's good background for understanding the plethora of books being written about the role of banking in recent recessions and past depressions. I don't think it contains adequate operating knowledge to enter the banking business; at least not with one's own money.
For someone who wants to know how an investment bank operates in as an easy read you should get this book. One thing that is great about this book as well is that it is not very technical and the writer finds ways to describes certain theories easily understandable
Easy and great read for aspiring Investment Bankers, and even those who are just interested in learning about more about the financial industry, specifically IB. Very straightforward and easy to comprehend before moving to more advanced stuff.
This is my second "for Dummies" purchase, and quite probably my last. I feel that a "for Dummies" book should be written in a crystal clear manner, and I don't feel that this was.
Investment Banking For Dummies The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking An Introduction to Investment Banking, M&A, Financial Modeling, Valuation + Business Best Practices The "Simple" Banking System: A concise look into life insurance as an investment tool Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions (Wiley Finance) Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions, 2nd Edition Investment Banking Workbook Leveraged Buyouts, + Website: A Practical Guide to Investment Banking and Private Equity Investment Banking Focus Notes Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions + Valuation Models Middle Market M & A: Handbook for Investment Banking and Business Consulting Investment Banking Workbook (Wiley Finance) Commercial and Investment Banking and the International Credit and Capital Markets: A Guide to the Global Finance Industry and its Governance Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity (Wiley Finance) Leveraged Buyouts: A Practical Guide to Investment Banking and Private Equity (Wiley Finance) Acing the Interview: Everything You Need to Know to Get an Investment Banking, Hedge Fund or Private Equity Job Distressed Investment Banking: To the Abyss and Back, 2nd Edition Big Data in Banking: With Applications in Finance, Investment, Wealth and Asset Management (The Wiley Finance Series)