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Valuation Techniques for Hedge Funds
Valuation Techniques for Hedge Funds
Accounting and Finance
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Training
Provided by Fintuition
This two-day course teaches the skills and tools required to value companies, including quantitative methods of investment analysis, sources of risk and return, specials situations and strategic analysis. Financial modelling techniques using Excel will be explained, with ample exercises and opportunities to apply these skills in practice.
| This is primarily ilt training |  | This class may be available at a classroom in London, Greater London,
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| Course Level: | introductory | | Duration: | 2 days | | Training Presented in: | English |
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Valuation Techniques for Hedge Funds
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Valuation Techniques for Hedge Funds - London
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Fee: £1,995 + VAT
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This two-day course teaches the skills and tools required to value companies, including quantitative methods of investment analysis, sources of risk and return, specials situations and strategic analysis. Financial modelling techniques using Excel will be explained, with ample exercises and opportunities to apply these skills in practice.
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11 - 12 September 2008
| 1 Berkeley Street, London W1 |
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Course Director(s)
Michael Eisenbeis |
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| What You Will Learn |
Is This Course Right For You? |
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| In this course you will learn quantitative methods of investment analysis from basic discounted cash flow modelling to more advanced valuation techniques that are extremely helpful in the alternative investment universe. Special situations
will be explored, including business combinations, convertible bond arbitrage, financial distress and cross-border investments. The training relies heavily on case studies and interactive training techniques to add to the learning experience.
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Overview |
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Quantitative Methods of Investment Analysis
Introduction: how do you price an investment (equity vs. bonds)? Time value of money: a review of the fundamentals (market value vs. intrinsic value).
Market Value (Multiples Analysis)
Overview of trading and transaction multiples to identify the relative value potential of a stock-listed peer or target company; pros and cons of multiple analysis.
Case Study
Delegates will review the multiples of three peer companies (automotive) to develop a long/short strategy.
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Intrinsic Value (DCF & EVA Analysis)
Review of the Discounted Cash Flow and Economic Value Added methodologies and current trends; sources and measures of risk: systematic vs. unsystematic; WACC calculation with CAPM and alternative methods in different environments; optimal capital structures; free cash flow and EVA cyclicality; terminal value modelling using the NOPAT formulas.
Case Study
Delegates analyse a company both by the DCF and EVA method.
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Special Situations Analysis I (M&A, LBO, Divestures)
Intercorporate investments; business combinations (M&A, LBOs, divestures); cross-border investments; techniques to support quick decision-making.
Case Study
Delegates will value an international M&A transaction and discuss the stock price reaction.
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Special Situations Analysis II (Distress)
Reasons of distress; financial distress valuation (collateral analysis); developing value strategies.
Exercise:
Delegates analyse a distress situation and develop value generation strategies.
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Special Situations Analysis III (Convertible Bonds)
Definition of convertible bonds arbitrage; valuation of bonds, embedded option and equity.
Exercise:
Delegates calculate and compare the price of GM bonds with the equity value of the company.
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Financial Modelling in Excel
Fundamentals of modelling in Excel; how to understand and interpret complex financial earnings models; financial calculations: calculating the cost of capital; financial statement models for valuation; financial analysis modelling. The ideas and concepts supplied will stimulate delegates to make their own variations and designs.
Troubleshooting
Avoidance of bugs in models, eliminating common errors, sensitivity modelling.
Exercise
Application of formulas in a real modeling case.
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About The Training Provider: Fintuition
Fintuition - FinTuition is an international training company based in London specialising in the securities finance business: securities lending, equity finance, hedge funds, prime brokerage, repo and collateral management.
We offer a regular schedule of open-enrolment courses from introductory to advanced levels as well as on-site training.
FinTuition training relies heavily on exercises, role plays...
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