Case Studies
The Mini-Seminars and Case segment has been introduced this year to provide participants with the opportunity to build upon the financial concepts presented during the Financial Credit Training Program and an opportunity to develop a greater understanding of specific topics. These one day mini-seminars will be conducted each week during April with specific dates for the topics to be determined. After each mini-seminar, a case will be assigned where applicable, to highlight and reinforce the material presented in the mini-seminar. These cases will be due and presented at the end of the week providing participants with the opportunity to prepare them on their own schedule with access to instructors if needed. While participants may elect to take this segment of the program only, it is strongly recommended that they attend the Financial Statement Analysis & Credit Metrics and Credit Risk Analysis Modules given their content and applicability to the mini-seminars outlined below.
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Mergers & Acquisitions – Mini Seminar
This mini seminar focuses on developing and enhancing corporate valuation skills including the requisite skill sets for the successful execution of a merger and acquisition. Integral valuation concepts such as Discounted Cash Flow, Price/Earnings Multiples, Market/Book, EV/EBITDA and Multiple of Revenues among other methods will be discussed and applied. Tools to support valuation techniques including Market Comps., Transaction Comps., and Accretion/Dilution Analysis will be presented and applied to assess the deal’s IRR and how the capital structure impacts these results. In addition, evaluation pitfalls arising from both missuses and abuses of analytical tools and financial accounting procedures, including use of ‘off balance sheet financing’, designed to enhance company valuations will be addressed.
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Real Estate Investment Trusts – REITs Mini - Seminar
This mini seminar focuses on the introduction and evolution of a security that invests in real estate through property or mortgages and often trades on stock exchanges like a stock. REITs provide investors with an extremely liquid stake in real estate and special tax considerations along with high dividend yields. REIT Companies afford investors the opportunity to pool their money to invest in a collection of properties or other real estate assets. While many REITs provide consistent returns for investors, there are considerable risks associated with them depending on whether they are an Equity REIT or a Mortgage REIT. The factors impacting these REITs along the requirements necessary to qualify as a REIT are highlighted.
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Debt Markets – Financial Products Mini - Seminar
This seminar focuses on the global debt markets and the plethora of products available to finance a multitude of clients including sovereign entities, corporations and individuals in a market which has experienced unusually low interest rates since the Great Recession. Highlighted in the seminar are not only the debt products and their key characteristics but the criteria utilized to select the products best suited to satisfy the needs of the borrower. Various types of debt along with their source including banks, direct market solicitations and private placements are discussed along with the benefits each source. In addition, debt funding vs equity funding are outlined along with the benefits and detriments of each.
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Investment Management Mini – Seminar
This seminar focuses on the challenges investors have in finding adequate yields for their portfolios without taking on outsized risks. With interest rates in major markets stuck at near zero levels as central banks continue to pump liquidity into fragile markets, it has become increasingly difficult to navigate this landscape for sufficient returns. While equity markets have responded well with many indices hitting all time highs, the fixed income market remains moribund as some countries continue to issue debt securities with negative yields. Highlighted in the seminar will be an overview of investment products along with their characteristics and impact on a portfolio.
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