Book Description
If you're looking for a job with an investment bank, commercial bank, mutualfund, or as a finance official at a corporation, you're bound to get technicalfinance questions during your interviews. The Vault Reports Guide to Finance Interviews is a must for anyone preparing for interviews. This 150-page guide is packed with key finance concepts and more than 80 sample questions to help you ace your interviews.
A few things you'll find in The Vault Reports Guide to Finance Interviews.
Valuation techniques Bonds and interest rates Stock, including stock splits, buybacks, and preferred stock Basic accounting concepts, including income statements, cash flow and balance sheets Mergers and acquisitions Currencies Option and derivatives Brainteasers, guesstimates, and other stress questions Skills and personality traits finance interviewers are looking for Key terms
And much more!
Excerpts from The Vault Reports Guide to Finance Interviews:
You say accretive, I say dilutive
A merger can be either accretive or dilutive. A merger is accretive when a firm with a higher price to earnings ratio (we'll call the company "Company 1," and label it's P/E ratio "P/E1") acquires a firm of a lower P/E ratio (which we will label P/E2). Why do we call the merger accretive?
The company's new earnings will be E1 + E2. Let's call this Enew. Usually, the new company will maintain the P/E ratio of the acquiring firm. Post-acquisition, it will be valued as P/E1 x earnings.
However, the amount that Company 1 had to pay was only PE2 x E2. Hence it paid a lower price when compared to the additional valuation it received from the market due to the increased earnings. (Mathematically, this can be represented by if P/E1 > P/E 2, then P/E 1(E1 + E2)> P/E1(E1) + P/E2(E2)) Hence the word accretive. A simple way to memorize this is: "Accrete is to add, add what?..value." So if I pay less and receive more value, it is accretive.
The reverse of this situation is a dilutive merger, and occurs when a company with a lower P/E ratio buys a firm with a higher P/E ratio. Here we use the term "buys" because the buying firm determines the final valuation multiple.
We'll look at a hypothetical example of a dilutive merger to make this clearer. Say Big Gun, a sporting goods store wants to buy a fast-growing chain called Ubershoe. Let's also say that Big Gun is valued at $500 million with earnings of $50 million, while Ubershoe is valued at $200 million with earnings of $10 million. Big Gun trades at a P/E ratio of 10/1; the combined company will also trade at this ratio. After the merger, the company will have earnings of $60 million, and will be valued at $600 million. This is a dilutive merger because previous to the deal, the combined valuation of the companies was $700 million.
Sample questions
1. Company A is considering acquiring Company B. Company A's P/E ratio is 55 times earnings, whereas Company B's P/E ratio is 30 times earnings. After Company A acquires Company B, will Company A's earnings per share rise, fall, or stay the same?
Company A's earnings-per-share will rise, because of the following rule: when a higher P/E company buys a lower P/E company, the acquirer's earnings-per-share will rise. The deal is said to be "accretive," as opposed to "dilutive," to the acquirer's earnings.
2. Describe a recent M&A transaction that you've read about.
If you are preparing for an I-banking interview, this is a must prepare question. Read the papers and have at least one transaction thoroughly prepared. You should be able to cover various aspects of the transactions. You should know what the structure of the transaction was. Who was buying whom, or was it a merger of equals? Was it an all-stock ransaction or was there cash involved?
For example, you could talk about America Online's acquisition of Netscape. In that transaction, a stock swap valued at $4.2 billion, AOL acquired Netscape. You should talk about how the acquisition was structured from a financial point of view, and the effect the acquisition is likely to have on AOL's earnings (both long-term and short-term).
3. What were the reasons behind that transaction? Does this transaction make sense?
Perhaps more important than understanding the nuts and bolts mechanics of transactions is understanding the factors that drive M&A activity. The America Online/Netscape deal is especially interesting in this regard because it involves heavy strategic planning in a fast-moving industry (as opposed to, say, the merger between Mobil and Exxon, through which the two giants simply hope to consolidate, save, and boost profits).
America Online is a content-driven company with more than 14 million subscribers. Netscape has kick-ass software, in the form of a popular browser and tools for businesses to pursue e-commerce. However, Netscape has seen its browser market share fall as Microsoft, with its immense distribution strength (and questionable pairing of browser with operating system) has elbowed its way into the category. And despite America Online's undisputed lead in market share as an Internet service provider, it had not moved aggressively into what many consider to be the golden road of the Internet - e-commerce.
This deal partners AOL and Netscape with Sun Microsystems, which is a hardware company that boasts strong hardware products and sales and support staff. The partners envision a world in which companies use the e-commerce tools developed by Netscape, hawk their wares on America Online (lured by the audience AOL can deliver), and are supported in their hardware and service needs by Sun. Synergy for the 21st century.
Customer Reviews:
Not bad, but..........2001-12-07
this book is best for newbies still in awe of bulge bracket names.
Excellent, excellent, excellent!.......2001-09-09
in my opinion, don't interview for finance or investment banking jobs without first reading this book.
Essential resource.......1999-03-10
After reading this guide, I don't see how anyone could walk into a finance or I-banking interview without knowing the concepts in this book. It's FUll of actual Wall Street questions...I got a lot of 'em in my interviews.
Book Description
Cruising on a small boat is a continuous learning experience. Sometimes you discover answers on your own, but more often the best lessons come from casual conversations with other cruisers. Why Didn't I Think of That? brings together the lessons learned, the tested advice, and the ingenious solutions of more than 200 sailors from around the world. Here you'll find nearly 1,200 tips on everything from anchors to bilge pumps, refrigeration to communication, food preparation to handy gadgets, finding just the right tool to weathering the weather, and cruising with children to making your boat a secure and comfortable home. Whether you're new to cruising or a full-time liveaboard, this book belongs on board.
Customer Reviews:
A great book.......2007-09-27
This book is about things that are simple and the "why did'n I think of that" exclamation. There is so much solution to various and simple improvement or problems. It is very good. That will be the second book you should have onboard.
I DID think of that.......2006-06-12
This book had maybe 4 or 5 interesting tips, so I can't recommend it, but I do have a tip for you:
If you are thinking of getting this book, my bet is you will NEVER go cruising. Most of you are just fantasizing. Put the darn books down and go sailing in your boat. Forget the cute ideas. Get your rig repaired (not improved), change your engine oil and coolant, oil your teak, BUY SOME NEW SAILS FOR CRYING OUT LOUD, and then go USE your boat. Don't waste your money on modifying the boat. Just get out there and sail it. That's what you bought it for in the first place. Did you know that 90% of all water-makers sold NEVER make a passage?
So, don't worry about a better way to store winch handles or a double bed for your cockpit or even a cockpit awning--if your sails are rags! You shouldn't even be thinking about improving your boat--if your teak is deteriorating. Clean it, repair it, and oil it first.
Thinking about changing your cockpit grating? Don't do it if you haven't changed your engine oil, oil filter, and secondary fuel filter this year. How about the coolant, when was that last changed? How about your halyards, what kind of shape are THEY in?
Go to any marina and see that 10% of the boats are usable, and 90% are deteriorating from lack of maintenance and use. But plenty of them have been "fixed up for cruising!" It is sickening. And then a book like this comes along and throws gasoline on the fire.
Sorry, if this review seems insulting to the 222 sailors on 120 Boats from 9 countries, I don't mean to seem unfriendly, but the title is just too much. The tips aren't that helpful, most of them are things anyone would have thought of, and most of the people who will buy this book should be doing something better with their time, like sailing their boats and doing the minimum necessary maintenance.
I love boats, and I love sailing, and I hate to see them deteriorate, and especially become live-aboard nightmares. Boats should be sailed. If your not sailing your boat, please give it to someone who will.
Why didn't I think of that!.......2000-11-14
This is a useful book. As a boat owner, there are of hundreds of little things which would make my boat safer, more fun, more convenient. This book gives me tips, tips,tips, for a better boat and a better time. Some I knew, but its good to see them and start another check list.
Solid Tips--Even If You Have Heard Them Before........1999-12-29
Why Didn't I Think of That contains many good tips--and some that can be found in other cruising books and publications. It's value is that they are all in one place and reasonably well organized. The author's writing style, layout and illustrations make for easy reading. It is worth reading and will be a handy reference.
Some helpful hints... Some not so helpful..........1998-09-25
I was a little disappointed in the quality of "hints". Some seem as though they were included just to fill up space on the page.
Book Description
Why Didn't I Think of That? A Personal and Professional Guide to Better Ideas and Decision Making
In about one hour you will learn 10 tools to help you become deliberately creative, develop more options, work more effectively in teams and evaluate the ideas of others without idea slaughtering.
Customer Reviews:
Creativity is a key to success!.......2000-03-31
This book focuses on how creativity, or the lack of it, can impact a business. This short book is easy to read. It offers practical examples that make comprehension a breeze. After reading the book, you are able to walk away with simple, concrete ways to prevent you, and your company, from falling into a creativity trap.
This book is similar to "Who Moved My Cheese? as it tells a story with characters that can relate to most business settings. The method in which it was written helps to relay the concept of Creativity very clearly.
If you are looking to expand your knowledge on the concepts offered in this book, I recommend also reading "Leading on the Creative Edge", by Dr. Rodger Firestien.
Book Description
Awaken creativity and ignite new standards of thinking to enhance your mental dexterity
Critical thinking, proactive decision-making, and dynamic creativity are thinking skills essential to success in all business and personal endeavors. Many of us, however, are not accustomed to using these skills when attempting to make balanced decisions. Why Didn't I Think of That? provides readers with the precise steps to follow when making decisions requiring observation, accuracy, and analysis to determine the most favorable outcome, such as:
* Outsmarting the competition that holds the market share
* Agreeing on a financial investment
* Working with a deceptive colleague
* Persuading a stubborn relative
Including self-tests designed to develop progressively better judgement for balanced decision-making, each chapter challenges readers to apply techniques for generating creative ideas and methods for making optimal choices. Within hours, readers will learn to seize opportunities, capitalize on original ideas, recognize the significance of subtle, yet important events, protect against deception, and ultimately avoid having to say, "Why didn't I think of that?"
Why Didn't I Think of That? is indispensable reading for professionals at all levels of business, teachers, students and anyone interested in gaining thinking skills that will prove invaluable in their careers and their personal lives. It is the quickest guide to improving performance IQ.
Customer Reviews:
Nice title, but..........2004-12-20
...falls short of delivering. First, the book does not cover creative thinking, or creative greatness. You better look for other great books on building creative thinking like "Cracking Creativity". Second, every page confirms the writer's background of a lawyer. While thinking, especially the unthinkable is undeniably very important in the court, the writer is kind of trapped in a "black/white" world. True vs. lie with topics such as "concentrate on crucial facts" or "always make sure..". Well, that might work in the court, but helps one little in thinking out of the box / thinking creatively. Thus, worst rating possible.
If you have momentous decisions to make, study this book!.......2003-12-29
How should you think, according to this book? You should think perceptively, deliberately, systematically and empathetically. Also, you must control the quality of your thinking, use your imagination, listen to your inner voice and look before you leap. You can get a lot from this book because it provides you with a comprehensive toolkit for making better decisions. It comes replete with examples to illustrate the application of the various methods the author expounds. Some are so well chosen that they help remind the reader of the methods themselves. There are examples of statesmanship (Franklin, Johnson, Churchill, Gandhi), judges in action (Solomon, Learned Hand and the author), marketing strategy (Intel vs Motorola, Coke vs Pepsi, Ford vs GM), productivity enhancement (Ford again), military strategy (from WWII and Vietnam, mostly, but also "The Charge of the Light Brigade" from the Crimean War), space exploration (three Apollo missions) and environmental disasters (the Exxon Valdez oil spill in Alaska and the Chernobyl nuclear reactor meltdown in Ukraine). The book contains firsthand account of court cases the author has been involved with, both as a lawyer and as a judge. The author even details to us some errors he made and learned from. And he provides exercises to allow us to do the same with ours and to plan ahead. This is one of the most interesting features of this book for me, because I have made errors too and I sure wish to avoid falling into the same rut again. The book also contains interesting mind stretchers. Solutions to the exercises are provided at the end of chapters and some alternate solutions are given at the end of the book. Practice will improve your decision making skills.
Great Writing, Great Ideas, Great Reading.......2003-12-13
I've read this book in a short couple of weeks and was so captured by it's ideas that I couldn't put it down. Everything is so real. As a scientist, engineer, (six sigma) master black belt, and research department manager, I found McCoy's insightful historical examples very meaningful and can't wait to apply the concepts to improve my own critical thinking skills. The tests and quizzes throughout the chapters on "Why didn't I..." were great entertainment, and a few kept me thinking for days for the solution. I highly recommend this book for anyone looking to improve their grasp of facts!
Why don't I review that...........2003-07-21
I really enjoyed this book. It's a publication that sits somewhere between the likes of Gelb, Buzan and co - nothing really taxing, no great epiphanies but some simple, experiental advice on how we can all avoid some of the most common thinking problems.
What I always enjoy is providing some solid examples of each type of thinking as an introduction to each theme. Mr McCoy does just that and they serve as solid real life examples (a blessed relief from 'out of the box' thinking puzzles.)
There aren't too many books on this topic that I find 'hard to put down.' But this one was close - fun, educational and stimulating. Bingo!
Improve Your Thinking.......2003-03-23
WHY DIDN'T I THINK OF THAT: THINK THE UNTHINKABLE AND ACHIEVE CREATIVE GREATNESS by Charles W. McCoy, Jr.
Reviewer: Dr. Bob Krone, Emeritus Professor, University of Southern
California, USA.
In drafting an essay for the American society for Quality on "Quality Thinking," Judge Charles W. McCoy, Jr.'s 2002 book title captured my attention. It turned a Los Angeles to Frankfurt flight into extremely valuable "Thinking Lessons."
The major problem with thinking in today's world of complexity, uncertainty, adversity and 15-second information media-bits is that we lose the ability to think rationally about thinking. Those of us in education leadership positions have the advantage of being continually challenged to think about the theories, concepts, judgments, assertions and ideas of our colleagues and students. Even with that requirement the dynamics of living and working force us to shortcut the "evidence-to-conclusions-and- recommendations" cycle we traverse frequently every day. Sometimes those shortcuts lead to "costly errors" as Judge McCoy points out in his Imtroduction (p. x).
Here's is why I recommend Why didn't I think of that ... to you, whatever your professional and personal roles involve:
* We all must solve problems daily .. whether it is freeway driving or
a decision on a heart surgery .... We cannot avoid the requirement
To think.
* Judge McCoy leads us to a systems approach to thinking that takes
inputs from all our senses: seeing, concentrating, asking penetrating questions,
using logic, analysis and imagination, listening, double-checking facts, and considering intuition, but cross-checking first impressions and feelings.
* And he does it with an impressive array of illustrative examples from his
own experience and his research.
* He advises us to "lead with your mind, follow with your heart" (p.33).
* He cautions us to "understand before judging" (53). ... that sounds
very logical but most of us fail to fully understand at some critical
decision points in our lives.
* Asking the right questions is a very special skill. Judge McCoy ends
each section with a set of critical questions to help you improve the
quality of your thinking.
* Being also a university professor he includes "learning from failures"
in our thinking. It's a fact that we think more about failures than
successes.
* Study the thinking processes of others and how they react to you
and thinking the unthinkable are valuable inclusions.
Having had considerable experience with book reviews I will end with a comment about the Frank LaForge review of this book also here in Amazon.com. The purposes of a book review are to accurately summarize what the author has done to help prospective readers make their own decisions about the book purchase and to help the author with constructive criticism. LaForge's personal attack on Charles McCoy and the other reviewers of his book fails to meet either of those purposes. I recommend discounting his review.
Book Description
Ben & Jerry originally wanted to start a bagel business, but they couldn't afford the bagel-making machine?
* The Slinky(r) toy was born aboard a World War II battleship?
* Band-Aids(r) were invented by a husband to help his accident-prone wife dress her own cuts and bruises at home?
* The idea for Velcro(r) came from cockleburs that got stuck on an engineer's wool trousers and in his dog's fur?
Ever wonder how anyone came up with the idea for a product you couldn't imagine living without? Familiar products like Velcro(r) ,disposable diapers, Post-It Notes(r) ,and coffee filters. Read this book and you'll discover - once more - that truth is indeed often stranger than fiction. You'll also see that coming up with a million-dollar idea isn't as difficult as you think. This collection of entrepreneurs ranges from housewives to PhDs.
Filled with wacky and fascinating facts, awe-inspiring success statistics, and rags-to-riches stories, Why Didn't I Think of That? chronicles the odd origins behind 50 famous inventions and reveals the business side of each product's actual production, marketing, and distribution. You'll discover how inventors from all walks of life struck it rich with unlikely contraptions that range from the practical (like Tampax(r) and Tupperware(r) ) to the curiously inane (like the Barbie(r) doll and Silly Putty(r) ).
Inspirational, detailed, and always quirky, this delightful book captures all of the drama and colorful history of products like Heinz(r) ketchup, The Club(r) , Jell-O(r) ,Hallmark(r) cards, Trojan(r) condoms, Vaseline(r) , Rollerblades(r) , Kitty Litter(r) , the Swiss Army(r) Knife, Bic(r) pens, Dirt Devil(r) , Pampers(r) , S.O.S(r) pads, and many more.
Customer Reviews:
Fun book.......2006-08-06
The origins of lots of products made in America is in this book. Short pieces that take only about 5 to 10 minutes to read. I found it fun to read about how people came up with the ideas of such products as Tootsie Roll, Slinky, Silly Putty, Thermos, Tupperware, etc. Not useful information but just fun to learn about. How people come up with ideas for products that are part of everyday life now. Anyone who likes trivia will enjoy this book.
Fast and Fun.......2001-03-29
Forget what some negative reviewer wrote; this book is fast, fun and full of interesting factoids. The language is breezy and the 50 chapters move along at an interesting pace. My entire family really enjoyed this book and we learned a lot of interesting knowledge.
Cute - but oh so shallow.......2000-10-06
Every entry in this collection is a good start on the subject - but that's it. As soon as it gets interesting, the authors move on to the next factlet. This may be fun for "Hey, did you know that..." type of conversations, but as soon as someone wants more information, you're out of this book's depth. After a while, it gets frustrating to read - in fact, it's the only book of this type I had to force myself to finish. Plus, the authors' adherence to an apparent 5th grade reading level, with no order or clear chronology even within each entry, makes it even more annoying.
If you want an outline of interesting tidbits, or if you're not yet in high school, you may enjoy this book (in fact, it wouldn't be a bad gift for some little inventor you may know, up to about age 13). But if you want depth, insight, and a touch of adult-level irreverance and humor, go elsewhere (personally, I'm a BIG fan of Cecil Adams).
Nice chapter on the yo-yo........1999-06-01
This book has a small chapter on the yo-yo, which was well done. Lucky Meisenheimer M.D. author of "Lucky's Collectors Guide to 20th Century Yo-Yos...History and Values.
Fun. Interesting. Great trivia. Humorous........1998-10-30
A light interesting recounting of how products were discovered and marketed. Easy to read. Lots of fun. Good for the person thinking of going into business.
Average customer rating:
|
Why Didn't I Think of That
Patricia Williams , and
Zenobia Verner
Manufacturer: Good Year Books
ProductGroup: Book
Binding: Paperback
 General
| Education
| Nonfiction
| Subjects
| Books
Pedagogy
| Education
| Nonfiction
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| Books
General
| Education
| Professional & Technical
| Subjects
| Books
ASIN: 0673182479 |
Book Description
"More than 60 activities show you how to use newspapers, magazines, catalogs, and even junk mail as a never-ending source of activities for developing reading comprehension skills. Great for ESL/ELL too."
Average customer rating:
- Waking up and smelling the coffeet!
|
Why Didn't I Think of That? (Ami How-To)
Lee Towe
Manufacturer: American Media Publishing
ProductGroup: Book
Binding: Paperback
General
| Business Life
| Business & Investing
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General
| Business & Investing
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Human Resources & Personnel Management
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Management
| Management & Leadership
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Vocational Guidance
| Job Hunting & Careers
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Creativity
| Self-Help
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General
| Psychology & Counseling
| Health, Mind & Body
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ASIN: 1884926371 |
Book Description
Unleash your creative potential! Many of the activities you do everyday require creativity. Why Didn't I Think of That? Is a great book that will help you initiate remedies to overcome the barriers that block your creativity the most. And by practicing the six creative-thinking skills and techniques, you will strengthen your everyday problem-solving skills.
Customer Reviews:
Waking up and smelling the coffeet!.......2000-07-07
This book was an eventful and enlightening foray into human thought. I learned a lot about creativity and was able to translate that inforamtion into a class for a client. I will use this book as a part of my source materials from here on out. The author offered many useful techniques and activities to stimulate and sustain creative thought. It was a real pleasure to read and use.
Average customer rating:
|
Discovery WORKBOOK: Why Didn't I Think of That
Richard V. Eastman
Manufacturer: AuthorHouse
ProductGroup: Book
Binding: Paperback
Job Hunting & Careers
| Business & Investing
| Subjects
| Books
| General
| Guides
| Interviewing
| Job Hunting
| Job Markets & Advice
| Resumes
| Vocational Guidance
| Volunteer Work
General
| Self-Help
| Health, Mind & Body
| Subjects
| Books
Success
| Self-Help
| Health, Mind & Body
| Subjects
| Books
ASIN: 1418420735 |
Book Description
This workbook is an opportunity for you to learn what you want at your own pace. Its purpose is to help you discover and believe that, "Every problem has a solution." John W. Gardner has the right idea, He said, "The ultimate goal of the educational system is to shift to the individual the burden of pursuing his own education." We learn to cook by cooking, sing by singing, paint by painting; so life can become doing what we are good at, and what we enjoy. H.G. Wells said, "Our educational system seems to have developed a community of faith and obedience. It should be replaced with knowledge and the will to make a difference." This workbook suggests that you focus on powerful words that improve your social and communication skills. You will find when you pick, choose and design, at least part of your education you will begin to believe, "1 can do anything I set my mind to." I believe you are capable of learning more than you realize, and at a speed that will surprise you. Practice with these education tools will give you: "I can do this attitude."
Books:
- Vault Guide to the Top Financial Services Employers, 2007 Edition (Vault Guide to the Top Financial Services Employers)
- West Federal Taxation 2005: Advanced Business Entities
- Wiley CIA Exam Review (4-Volume Set)
- Working Papers, Volume 1, Chapters 1-14 for use with Financial & Managerial Accounting: A Basis for Business Decisions
- Working Papers, Volume 1, Chapters 1-14 to accompany Financial Accounting 13e, and Financial & Managerial Accounting 14e
- 2000 Financial Accounting Research System Fars
- 2004 Statement of Concepts (Accounting Standards Statements of Financial Accounting Concepts)
- 4 Volume Set, Wiley CPA Examination Review, 1999 Edition
- Accounting and Finance for Insurance Professionals
- Accounting and Reporting Taxation, Managerial, Governmental, and Not-For-Profit Organizations (Wiley CPA Examination Review 2003)
Books Index
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