PCC 201 Boston University Investment Banking Discussion The link for the resource to read is here: https://access-vault-com.ezproxy.snhu.edu/best-job… a

PCC 201 Boston University Investment Banking Discussion The link for the resource to read is here: https://access-vault-com.ezproxy.snhu.edu/best-job…

and if you don’t have permission to access the video. the content of the person saids is in the file name: Resource

Basicly read the resource and answer the question

Introduction / Overview (Who did you talk to and why?)

Briefly discuss what event you attended, and why.

Summary and Highlights (What did you learn?)

Include a summary of the event and main highlights of the event. Consider the following:

Were there any highlights from the activity that stood out to you?
What did you learn? What insights shared are the most valuable to you?
What were your key takeaways from attending this event?
How will the information you learned help to design your own life?
How has the activity impacted your decision-making process?

Reactions and Conclusions (How are you going to use this information to help you achieve your personal or professional goals?)

Include your reactions to the interview.Consider the following questions: DAVID
HOU: My name is David Hou. I’m an analyst at Bryant Park Capital. I look at companies
to be exact. When we get a new client come in, I analyze the company. I analyze, I do d
ue diligence on the company. I help with the valuation of the company which includes th
e financial analysis and financial modeling. So when
an investor submit their terms, basically, I analyze those terms and I portray that inform
ation to our clients in an organized fashion.
I support the Deal Team on a day-today basis regarding the various types of engagements we’re involved in. This goes any
where from managing a contact list, creating a pitch book, creating slides for manageme
nt presentation, assisting on ad hoc projects from my associates and vice presidents. A
nd in general, I assist with the duties that help the client complete their transaction.
The way I got started
with my career was I first went to Georgia Tech for a bachelor’s in business administrati
on with a concentration in finance. From there, I decided that I wanted to do something
more financial services related- looking at companies, looking at corporations, looking at financial products.
I started with a company called CB Richard Ellis. They are the world’s largest real estate
company. I started
in their capital markets division which was investment sales, sale leaseback financing, a
nd syndicate leases, and all the different corporation related type of services. With that,
I was in their sale leaseback financing division which I helped corporations look at their r
eal estate solutions. Basically some companies will be too asset heavy on real estate. A
nd they would sell it and lease it back to create financing.
With that job I looked a
lot at company financial statements, looked at a
lot
of company’s overview of the company, how their financial statements worked, and the
different ways we can create those leases so that it wouldn’t affect their bottomline as m
uch as if they went out for corporate debt.
From there, I really enjoyed looking at corporations. And I realized that I wanted to do s
omething where I get to value companies, look at companies, do due diligence on comp
anies on a daily basis, and still wanted to be in a transaction type of role which is why in
vestment banking fits so perfectly. I was always very interested in investment banking.
And I wanted to be more part of the mergers, acquisitions, and debt capital raising, and
equity capital raising process where I get to look at companies, where I get to speak wit
h company management about how they run their businesses and how they look at their
companies from a financial perspective. And that’s how I got to investment baking.
I believe the two key things to succeed in this field is hard work and detail orientation. Li
ke all fields to succeed you need hard work in order to become successful in your field.
But investment banking has a little more- sometimes hours tend to get long. Sometimes the work tends to get more difficult, but
you always have to work hard. And you have to keep that mindset that you’re going to p
ut the best work out regardless of the situation.
Detail orientation is because whatever you do, whatever you put together, it needs to be
perfect in my opinion, because it’s always getting showcased
to the client. That’s why being detail oriented is very important. From creating financial
models, because you have
to make sure every number is right or it can mess up the whole financial model. From p
utting together presentations, because sometimes like various other fields, messing up
on key aspects could distract from the point of the presentation. Let’s say you forget a p
eriod here or the spacing is incorrect there. It could make the whole presentation throw i
t out of whack, basically.
Most entry level investment banking positions require you to have a bachelor’s degree o
f some sort. It doesn’t necessarily have to be in finance. Beyond that, after you start inve
stment banking, it depends on the bank you work at. They might require you
to have some more financial modeling skills. So at some boutiques where they have les
s of a training program, they require you to be able to hit the ground running, the best
way to say
it. So they will give you some tests in financial modeling and putting three statement ana
lysis together or discount cash flow analysis.
Once you start investment banking, to actually start practicing as an investment banking
representative, you have to get licensed with FINRA. And this includes the Series 79 an
d a Series 63. This is so that you can practice nationally as
an investment banking representative. And also you have to be registered in your state
with a 63. FINRA is basically the self-
regulatory body of financial institutions and investment banks. When you take those exa
ms, what those exams teach you is what not to do you, how you
should respect different financial laws, like insider trading, or mergers and acquisitions h
ow you look at it, like the Hart-Scott-Rodino Act which is to prevent monopolies.
So generally what I do every day is every morning I wake up and I read The Wall Street
Journal. And I look at the different articles of The Wall Street Journal, try to understand
what’s going on in the financial world, what’s going on in the world in general. And beyo
nd that, I actually, on
my own personal time, I go out there and read up on different valuation books, look at di
fferent financial books. I look at different memos from various hedge fund managers on
how they look at the world.
At Bryant Park, our workplace atmosphere is very friendly. We’re all like one small famil
y. But that’s also because we are a boutique. We know each other very well. It’s not ver
y heirarched. Our MDs are like right next to us and we can always go ask them question
s. I don’t have to go through various levels of associate, vice presidents, and directors to
get to the MDs. It’s a very flat organization.
And the hours vary. It depends on the type of assignment and when
the assignment comes in. We’re a client servicing organization. So our hours depends o
n our client’s demands. If a client needs a report tomorrow, yes, we do put in long hours
to get that report completed. But in most cases, our hours are generally quite balanced.
And travel depends on client demand as well. Occasionally I’ll go up to New York to me
et with a client for client meetings. But that all depends on a client.
For somebody who’s in college, a junior or senior entering this profession, I would tell yo
u to focus more on your accounting courses and on
your business writing courses. Try to get more experience on financial valuation. I know
in college you learn more theory on official market hypothesis and all the different types
of economic theories, but I would try to give yourself more of a handson experience with case studies and financial models to get yourself comfortable with a
ccounting and different accounting treatments and ways to look at accounting. And
on the writing perspective, I would try to take
more courses on business writing, because you will be writing a lot in this profession.
For people who are starting their career, it’s true investment banking has a very steep le
arning curve. At first you’ll feel like so much is coming towards you and you’re trying to d
o a lot at the same time. You might feel a little overwhelmed. But the thing I’ve learned i
s that you just basically take little pieces at
a time, little bit-sized chunks at
a time and try to move both as efficient as possible to get to the finish line. And that way
you’ll be able to take on the bigger tasks and still complete them.
I would get in around 8:30. I
would grab a cup of coffee. Come in. I would already be reading my Wall Street Journal
on my phone. Check to see any emails that I
have received
from my associates or clients. From there I would check in with my vice president and a
ssociate to see if they have any additional work for me. If not, I will continue working on
my previous day’s engagements such as pitch books, company presentations, or workin
g on a couple of financial aspects of the models.
We usually have one or two client meetings where
we’re speaking with clients, discussing, updating them on the deals. For some cases, I p
rovide a process update which showcases how the deal has been progressing, what ha
ve investors talked about regarding the deal.
And from there, we move on and I will either get some more work from a certain type of
deal. Either we’re looking at a company a different way, from a valuation perspective, w
here we
need
to work on some financial aspects. Or we’re working on different various ways to look at
the terms sheets
that
are submitted. Terms sheets are terms that are provided by investors. Or we’re formatti
ng a book where I am trying to make everything look nice, look presentable to investors.
Or I’ll be helping crafting a slide on this industry or on this company.
Towards the end of the day, the MDs might have more assignments for me or there mig
ht be some
more
a research project or some more financial analysis I will need to do. Before I leave, I go
through all the emails that– because sometimes when you are concentrating on your
work, you don’t respond to a couple of emails. I try to respond as soon as I can, but whe
n I’m usually focused on a project, I leave a couple of emails stacked up. And I would go
through all my emails, categorize them, make sure they’re organized, also make sure th
ey’re addressed, and take down a couple of notes on what I need to do tomorrow.
Investment banking in
general is to advise corporations and assist them in acquiring financing in the form of eq
uity or debt. For example, if a company is looking to sell themselves, an investment ban
ker’s role would be to advise the company on the various possible methods of selling th
emselves. They could sell themselves to a strategic firm, which is like a competitor or so
mebody in the same industry, or to a private equity firm. Some of the main products incl
ude mergers
and acquisitions, which we help
a company sell themselves or we help another corporation buy a company, debt capital
raising, which we help them raise debt, get loans from banks, and sales and trading as
well, which we help, basically, after a company goes public, we help trade their stock. T
his usually involves hedge funds and institutional capital as well.
One of the biggest issues investment banking is facing is automation. I believe, like all i
ndustries, disruptive technologies are affecting the way the industry operates. And it will
slowly start changing the way we approach this industry. There’s more of an art. It’s not j
ust a science. It’s a bit of
an art as well to investment banking
to how to portray a
company, to the how to sell a deal, right?
It’s not just these various numbers become this valuation. That’s just not true. Proven by
the inefficiencies in the financial market where you can’t just say a couple of variables c
ome together to become one key valuation point. Right? Sometimes it’s more of like a g
ut feeling. You have
to
look at various variables. And you’ve got to figure out- and then you believe they could lean more towards this way than towards this end of t
he valuation range. While computer would just basically take probabilities and say that
it will probably end up here, which will lead to sometimes erroneous valuations.
I believe as we move forward everything will be way more automated where sometimes
you, at
a press of
a button, you can gather a lot of the information you need instead of having to dig throu
gh all these documents, because you
will have computers who are able to read these documents, making the industry actually
more efficient, in my opinion. A lot of the type of work and the type of things that you wo
uld waste hours and hours on, things like formatting, or reading through a document to l
ook for one variable, those all might eventually disappear where a computer is able to d
o it. And you’re able to process more transactions, engage in more transactions. am inv
estment banker would be able to manage more transactions, represent more clients, be
cause of these technologies.
Choose Your Own Activity and Reflection
PCC 201
Assignment Information
Career Activities are part of the prototyping process and must connect you with professionals or subject matter
experts in the field you are considering.
Introduction / Overview (Who did you talk to and why?)
Briefly discuss what event you attended, and why.
Summary and Highlights (What did you learn?)
Include a summary of the event and main highlights of the event. Consider the following:
• Were there any highlights from the activity that stood out to you?
• What did you learn? What insights shared are the most valuable to you?
Reactions and Conclusions (How are you going to use this information to help you achieve your personal or
professional goals?)
Include your reactions to the interview. Consider the following questions:
• What were your key takeaways from attending this event?
• How will the information you learned help to design your own life?
• How has the activity impacted your decision-making process?
Grading
Your reflection will be graded based on the quality, depth of thought, and completeness of the required
sections. The rubric below will be used to grade your journal:
Points
Possible
PCC 201 Networking Career Event Activity Reflection Rubric
CONTENT / Reflection
90 points for the quality, depth of thought, and completeness of each of the required sections
90
____ Introduction / Overview (20)
____ Summary and Highlights (25)
____ Reactions and Conclusions (45)
Grammar & spelling
5 points possible for accuracy and quality of each (0 = needs much improvement; 5 = excellent):
? Grammar:
0 1 2 3 4 5
? Spelling:
0 1 2 3 4 5
10
TOTAL
1
100

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