ISBN: 0262024829
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Avg Cusomer Rating: 5
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Summary: Develop Advanced Financial Modeling Skills
As a university teacher of strategic corporate finance and optimal investment, I have watched the financial industry analytics transcend hand calculation with financial calculators to financial modeling with spreadsheet software. Depending on whether the financial specialty is in corporate or banking/brokerage, the job skills requirement can range from corporate cost control to optimal portfolio design. Thus, modeling skills services both company research and financial planning.
Whenever I travel in my business, this reference book goes with me; additionally, in both Russia and Germany, it was the book used by the corresponding McKinsey consultants. If you are comfortable with financial principles, purchase this book. If, however, you need to review financial fundamentals, then first purchase Dr. Benninga's textbook, Principles of Finance with Excel (see my review).
Statement: Learning this skill will keep you from selling electronic appliances at a discount retailer, cold calling for a debt shop, or writing contracts on leased vehicles, as your first "out-of-college" job. If you are already out of college, learning this skill might keep you from being stuck in a dead-end position.
INVESTMENTS:
The study of equity and capital markets is fundamental to anyone specializing in finance. Potential development from studying this book is the possibly dramatic extension to your financial skill set by adding the ability to analyze and then model optimal investment portfolios using Excel. Most analyses in business will be completed using spreadsheets, or other software, and not by hand calculation. In fact, much of your time as a financial specialist, in any capacity, will be building spreadsheets to solve complex financial problems. The sequence of spreadsheets used in investments analytics have become increasingly sophisticated: From complex financial models in asset valuation to detailed derivative payoff structures. With the skills developed in studying advanced business analysis techniques in Dr. Benninga's textbooks, investors, and advisors, can locate efficiently run companies to be included in optimally diversified portfolios.
In watching the financial industry analytics transcend hand calculation with financial calculators to financial modeling with spreadsheet software, I have repeatedly witnessed students with financial modeling skills obtain jobs that are typically reserved for specialists holding advanced degrees or having multiple years of experience. Both brokerages and banks in the investment side of the financial industry are increasing requiring knowledge and skills in designing optimal portfolio design. Put simply, it is the ability to strategically design a "real time" investor's portfolio that is driving the demand for Excel modeling skills by financial firms. In order to design optimal portfolios, skills in corporate financial modeling are necessary. The ability to recognize well run companies is the ability to compile a diversified and optimal portfolio: The company seeks tools to help run operations and financing efficiently, and the investor seeks tools to help find efficiently managed companies. While most company's financial models are designed based on revenue analytics, the investor's model is a portfolio consisting of the various potentially profitable investments. For investors, the stocks being held in the investor's portfolio will be those of efficient companies exhibiting the investment characteristics required by the investor. From the business viewpoint, those who truly gain from knowing these analysis techniques are the businesspeople that use them to run efficient companies; from the investment viewpoint, those who truly gain are the individuals who use the tools to find those efficiently managed companies worthy of investment. It is important to realize that the skills needed by an investor are no different from the skills needed by good managers. When evaluating a company for investment, an investor will often use the same models that business executives use in their financial and operational management and forecasting. Once an individual learns how to analyze and value cash flows, the viewpoint can be either that of a business evaluating a potential project, or an individual evaluating a potential investment. The point in all of this, with either company financial planning, or investment planning, making the needed modifications to a changing, and rapidly more global, world in Excel is easy.
In using Dr. Benninga's books, you can expand beyond the capital market basics in your financial knowledge to include spreadsheet modeling; furthermore, in this process, develop highly marketable financial modeling skills that will boost your ability to advance your career.
Summary: amazing!!!!!!!!!!!
Amazing, these kind of tools are basic for anyone interested in a financial career. Its an excellent book, an it is easy to read and very dynamic and useful
Summary: A useful handbook for financial modeling
This is a quite useful handbook for its easy understanding excel sheets and graphs demonstration. The CD-Rom attached is very helpful for practicing financial modeling problems.
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