Do NOT invest in China stocks and china mutual funds. They are all FAKE! They do NOT have real companies back in China. And China stocks often advertise that they will give 10-15 percent return on your investments to Trick you. Don't fall for it. They are all Pyramid schemes. There are sooooooo many companies in HK, Taiwan, Japan, South korea, and Europe that lose all their money to China fake companies!!
Unbelievable hard work and no work life balance. Glad you're out of the this insanity and doing what you are now doing, sharing the reality behind the "glamour" and living creatively
Do NOT invest in China stocks and china mutual funds. They are all FAKE! They do NOT have real companies back in China. And China stocks often advertise that they will give 10-15 percent return on your investments to Trick you. Don't fall for it. They are all Pyramid schemes. There are sooooooo many companies in HK, Taiwan, Japan, South korea, and Europe that lose all their money to China fake companies!!
Hello Ben appreciate very much your channel. Question for you. What is the best way to keep abreast when a business want to sell one of their side business like the example you gave. I am a buyer.
@rareliquid the lbo, dcf, comps are just to get a baseline valuation internally, it will not be shared right? Also by presentation do you mean the CIM?
Can you just level up quicker? I wana hear where's the secret society parties? The lobbyist the political influence the market manipulation the juicy stuff the fun stuff 😂
Respect for saying it how it is and that we can and will have to learn a lot on the job even at big banks. Too many channels make you feel like shit and make it sound like you need to "know everything about everything" to even stand a chance of getting into IB at bulge bracket banks. You could have easily said the same and we young guys would believe you. So thanks a lot for giving us valuable insights about the reality.
Really interesting! Enjoyed the content! Would you know how helpful a CFA would be in your industry? Did you actually use such (rather) simple valuation models such as FCFF, Residual Income etc?
If you talk through deals, the construction of modeling, due diligence, and pitch materials you’ll definitely be distinct among the few dozen or so channels on UA-cam that mostly give vague or superfluous detail about banking, I know I’d watch more
I love the honest discussion on valuation. Buy side wants a "true intrinsic value" (with .01 added to discount rate) while the sell side wants no less than that. Refreshing to hear.
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LMAO on the deal model being an "art" rather than a "science". I've been there. If the bids come in too low then "we can't take that deal, it's too low" but if they come in above what the model is saying it's either "there is something wrong with our model and we need to fix it" or "let's massage those numbers a bit". Also, I've been fortunate enough to be on a couple of calls where my MD is negotiating (albeit MUCH smaller deals than this), and sometimes both parties try to be formal and civil but you can cut the tension with a knife, and other times they are just ruthless and "straight up" with each other.
Can you please explain some of the financing experience, both follow-on and convertible offerings in your next videos. This would be really insightful!
Was the Vice Chairman of JPM's Healthcare IB Group Brian Kinkead? I know he was there through September 2017. He was my first boss when I entered the Analyst Program at Morgan Stanley in 1992. He was a total workaholic. I broke almost every record for the number of hours worked for our department. My record for one week (not including my commute) was 128 hours. It was absolutely brutal.
Wow, pretty cool! When you say that the bank gets a cut of the sale price is that just the bank, do you get a percentage too, or does it work in a multiplier-esque manner where the more deals you do, the more likely you are to get promoted to manager positions and earn a higher salary? Sorry if you mentioned this in your banking salary video - I just can't remember! haha.
Man. This content is pure gold. Soooo interesting it’s really cool to get to know that part of the job. I’m in the process of getting a similar job in EY here in my country. Keep up the good vids!! 🙌🏻🙌🏻👊🏻
UA-cam randomly recommended this video to me and I enjoyed every single second of it! Tried to break into VC for 1 year now without any luck (not good enough I guess xD) but am actively investing as an angel investor. Please make more videos like this, very interesting! Liked and subscribed!
@@ionconnor1991 still no luck with VC although trying a couple of avenue (no rush on this). portfolio startups are doing up rounds now so thats good. all in all happier than 10 months ago. Bless you my friend.
you did put together an IM? I thought what exactly where you checking with the model? Which purpose did it have exactly? Would love if somebody could get into more detail
It would be great if you could talk more about the specifics of the models. Maybe you could create "fake" names of the companies and numbers while keeping the principles the same
The Medtronic deal is already announced. Nothing he said was actually confidential, except maybe the valuation was on the high-end of Medtronic expectation.
I would definitely love to hear more details and insider secrets. Your content is much more realistic and useful than other investment banking channels
I thought Bankers only ger salary and annual bonus, so they also get fee percentage from dealing? and also does bankers use financial modeling daily? thx ben
When he talks about fees, he’s talking about bank revenue. This is the money the client (Medtronics) is paying to the bank (J.P. Morgan). The bankers themselves are paid salaries by the bank.
Dude.. I like your videos a lot man! I connected with you on LinkedIn recently and noticed we have a few small town mutuals, I hope we can connect further? I am eagerly looking to break into IB atm with only 2 round two interviews so far (JPM MS) with nothing after.. let me know when you’re free to chat, I’d like some tips on how to better prepare myself!
Please bore me with the details, its actually pretty interesting
Yes me too!
haha ok will try to add as much detail as I can
rareliquid your mail id pls
Do NOT invest in China stocks and china mutual funds. They are all FAKE! They do NOT have real companies back in China. And China stocks often advertise that they will give 10-15 percent return on your investments to Trick you. Don't fall for it. They are all Pyramid schemes. There are sooooooo many companies in HK, Taiwan, Japan, South korea, and Europe that lose all their money to China fake companies!!
@@jeffjohnson5053 I shorted k web my boy
Super interesting ! Thanks for sharing, would love more content regarding the transactions you worked on and your overall experience
Unbelievable hard work and no work life balance. Glad you're out of the this insanity and doing what you are now doing, sharing the reality behind the "glamour" and living creatively
THANK YOU for this vid!! You explain it all so well and it really helps me get the feel for the work
Glad it was helpful!
Do NOT invest in China stocks and china mutual funds. They are all FAKE! They do NOT have real companies back in China. And China stocks often advertise that they will give 10-15 percent return on your investments to Trick you. Don't fall for it. They are all Pyramid schemes. There are sooooooo many companies in HK, Taiwan, Japan, South korea, and Europe that lose all their money to China fake companies!!
Great content, would love to hear more about other deals you’ve worked on
Hoping the keywords in this title make this video go viral!!!! 🙏🙏🙏 Another Banger!!!
haha thanks richie
this video is so underrated!
Such an underrated UA-camr!
thank you cesar!
Quality as always! Keep up the good work
thank you!
Great video 👍🏾
Funny story I was on the team at Cardinal and Cardinal ended up regretting this decision and sold the asset
great video!
Hello Ben appreciate very much your channel. Question for you. What is the best way to keep abreast when a business want to sell one of their side business like the example you gave. I am a buyer.
@rareliquid the lbo, dcf, comps are just to get a baseline valuation internally, it will not be shared right? Also by presentation do you mean the CIM?
mind if you share your educational path?
What's your qualifications?
Actually sounds kinda fun, but i don't know, maybe it's the kind of work you have to live to tell
Can you just level up quicker? I wana hear where's the secret society parties? The lobbyist the political influence the market manipulation the juicy stuff the fun stuff 😂
giv us project name ser. 'project perseus'? anatoly likes ur shilling SOL
Love all the boring details lol please throw them to me
Yeah small fish analyst, 1 of 50 on a project like this
⏱Timestamps⏱
0:00 - Introduction
0:45 - Background Behind the Deal
2:28 - What I Did as an Analyst
8:04 - 3 Insider Secrets
Love these types of videos; I'm trying to go into finance myself and it's really nice hearing about your first hand experiences.
good to hear!
Respect for saying it how it is and that we can and will have to learn a lot on the job even at big banks. Too many channels make you feel like shit and make it sound like you need to "know everything about everything" to even stand a chance of getting into IB at bulge bracket banks.
You could have easily said the same and we young guys would believe you. So thanks a lot for giving us valuable insights about the reality.
Really interesting! Enjoyed the content! Would you know how helpful a CFA would be in your industry? Did you actually use such (rather) simple valuation models such as FCFF, Residual Income etc?
Not really helpful. Most people are recruited into IB in their sophomore years of college.
If you talk through deals, the construction of modeling, due diligence, and pitch materials you’ll definitely be distinct among the few dozen or so channels on UA-cam that mostly give vague or superfluous detail about banking, I know I’d watch more
Thank you for sharing! How many days approximately did you take to finish the first draft of financial modelling/valuation/teaser/information memo?
Bro you would have signed deal specific NDA before starting to work on deal....u r disclosing deal specifics
I love the honest discussion on valuation. Buy side wants a "true intrinsic value" (with .01 added to discount rate) while the sell side wants no less than that. Refreshing to hear.
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►www.fe.training/product/online-courses/corporate-finance/the-investment-banker/
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LMAO on the deal model being an "art" rather than a "science". I've been there. If the bids come in too low then "we can't take that deal, it's too low" but if they come in above what the model is saying it's either "there is something wrong with our model and we need to fix it" or "let's massage those numbers a bit". Also, I've been fortunate enough to be on a couple of calls where my MD is negotiating (albeit MUCH smaller deals than this), and sometimes both parties try to be formal and civil but you can cut the tension with a knife, and other times they are just ruthless and "straight up" with each other.
you get it haha
Bro. You’re the first genuine IB I’ve ever seen. You seem to be at peace with yourself.
Can you please explain some of the financing experience, both follow-on and convertible offerings in your next videos. This would be really insightful!
Was the Vice Chairman of JPM's Healthcare IB Group Brian Kinkead? I know he was there through September 2017. He was my first boss when I entered the Analyst Program at Morgan Stanley in 1992. He was a total workaholic. I broke almost every record for the number of hours worked for our department. My record for one week (not including my commute) was 128 hours. It was absolutely brutal.
Would be interesting to have more videos on other deals, also on the buy side or
got it!
Wow, pretty cool! When you say that the bank gets a cut of the sale price is that just the bank, do you get a percentage too, or does it work in a multiplier-esque manner where the more deals you do, the more likely you are to get promoted to manager positions and earn a higher salary? Sorry if you mentioned this in your banking salary video - I just can't remember! haha.
Great video! I was wondering if any iteration of the presentations you worked on for this deal made it into the SEC filings for MDT?
Man. This content is pure gold. Soooo interesting it’s really cool to get to know that part of the job.
I’m in the process of getting a similar job in EY here in my country.
Keep up the good vids!!
🙌🏻🙌🏻👊🏻
pls, tell us more about the M&A trasactions that u dealt with
Love your channel, keep up the good work. Sending support from NYC. 😁
Thanks so much!!
Thanks for the insightful videos :) really learning a lot and hoping someday I can be an investment banker!
Please make more of these videos!!!
Awesome vid! Please share more details with us if you can, so dam interesting!
UA-cam randomly recommended this video to me and I enjoyed every single second of it! Tried to break into VC for 1 year now without any luck (not good enough I guess xD) but am actively investing as an angel investor. Please make more videos like this, very interesting! Liked and subscribed!
How is your career going my guy
@@ionconnor1991 still no luck with VC although trying a couple of avenue (no rush on this). portfolio startups are doing up rounds now so thats good. all in all happier than 10 months ago. Bless you my friend.
@@jakewjt I wish you the best on your journey bro
Keep going
Good luck bro
Please talk more about your previous projects :) love it how you explained it
Can you show video how to do LBO model
People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in bitcoin
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I want to know more about the other deals you were apart of!
you did put together an IM? I thought what exactly where you checking with the model? Which purpose did it have exactly? Would love if somebody could get into more detail
It would be great if you could talk more about the specifics of the models. Maybe you could create "fake" names of the companies and numbers while keeping the principles the same
Can you do a video on best excel and PowerPoint shortcuts to use in IB?
will keep this in mind but i do have a lot of other ideas right now in the content pipeline
Awesome video
Keep up the great work!!!
This video is fucking gold
Brilliant Video! Subscribed!
Side Note - Please make more videos such as this one.
I just wanna say taking online courses does not help. Graduating from a target school for investing banks helps in every country.
Very interesting. If you could share more deals with more details of the workflow, deal cycle that would be great
Awesome video. Please do make more videos of deals you have done, the process, strategy and did you enjoy them or not.
Thanks for sharing! :)
Is it worth it being on a team that works on larger deal all the time? I’m thinking wlb
Do you have a video showing what exactly investment banker do in the program used?
Is CIB CRG department at JP Morgan mid office ?
Thanks
Waiting for your vids on chinese tech stocks
coming soon~
Please share more
Did the company want you to filter out their competitors from the buyers?
More Deals please !
I'm just curious. How can you disclose M&A information? Don't you have sign NDA? Is this public information? Sorry, I'm new to all of this.
The Medtronic deal is already announced. Nothing he said was actually confidential, except maybe the valuation was on the high-end of Medtronic expectation.
sheeeeeeshhhh
Swagmode
cardinal health executives watching this vid -_-
Really appreciate your content man. Please talk about more transactions on future videos.
Shoutout from Indonesia!
Your video is great😁
Awesome video thank you, kinda want to break into sales and trading instead of ibd now b/cof all the hours worked per week 😩
Wanna know more about details! Thanks!
Besides changing font color and font size.
What would you advise for graduate student to get in buy or sell side. Is very tough to get into and what your name by the way.
thank you justin!
Genuine question, how much caffeine did you have to consume to work those hours?
none just drink water
Great vid
thanks!
now I’m ready, thanks!
lets goo
MD1, MD2, MDX models still in use?
I would definitely love to hear more details and insider secrets. Your content is much more realistic and useful than other investment banking channels
I thought Bankers only ger salary and annual bonus, so they also get fee percentage from dealing? and also does bankers use financial modeling daily? thx ben
When he talks about fees, he’s talking about bank revenue. This is the money the client (Medtronics) is paying to the bank (J.P. Morgan). The bankers themselves are paid salaries by the bank.
@@dougpolk4518 I do believe bankers get some commision, said www.mergersandinquisitions.com/investment-bankers-make-money/.. wdyt ?
@@vinabaska620 Only senior staff like partners and MDs get a commission. Junior staff get only a salary and bonus
Ben good video.could you do a video for experienced hire (30+ years old) who wants to change career and break into IB
answer is simply MBA there's really no other good way unfortunately
@@rareliquid yeah I got.shunned for being too old and have too many irrelevant experience in other fields...
first!
almost~ haha
Did you do a video on LBO?
Nice
nice~
very interesting, thanks for sharing!
More!
will do~
🔥🔥🔥🔥
Which degree you did to become investment banker
bachelor's i recruited out of undergrad
pls fix thx
5!
noice
THANK YOU SO MUCH FOR THIS!
No problem 😊
Dude.. I like your videos a lot man! I connected with you on LinkedIn recently and noticed we have a few small town mutuals, I hope we can connect further? I am eagerly looking to break into IB atm with only 2 round two interviews so far (JPM MS) with nothing after.. let me know when you’re free to chat, I’d like some tips on how to better prepare myself!
really enjoyed thanks
:O
Chipotle valuation please?
perhaps in the distant future haha
Your videos are so interesting, such a unique perspective and very well put together videos. You're going places
thank you raymond!
Whoa, such valuable content!!! Would definitely like hear more about the other deals and what you learned from them!
👍