Boutique DCF Valuation 
Mergers and Inquisitions
DECEMBER 20, 2023
Internships at regional boutique banks. Big 4 or independent valuation firm internships. You should also start learning the technical side (accounting, valuation, and basic M&A and LBO concepts) and begin networking with alumni. Internships at local venture capital or private equity firms. Wealth management.
Mergers and Inquisitions
MARCH 13, 2024
Valuations are high, the returns depend on future growth, and deals are for primary capital , i.e., new cash the business needs. Financial Modeling: Like private equity, 3-statement models are common, as are valuations and DCF models , but LBO models are less common since not all deals use debt.
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Mergers and Inquisitions
APRIL 19, 2023
Valuation , such as the different multiples used for mining companies and the NAV model in place of the DCF (see below). Valuation – Since many people perceive gold as a stable, irreplaceable store of value, gold miners often trade at higher multiples than base metal miners (see the examples below).
Mergers and Inquisitions
OCTOBER 18, 2023
You’ll also have to spend time learning/reviewing the technical questions, as the day-to-day work in ECM and DCM is far removed from subjects like Equity Value vs. Enterprise Value or a DCF model. Yes, ECM/DCM beats options such as the Big 4 firms, small PE/VC firms, corporate banking, corporate finance, valuation firms, etc.
Mergers and Inquisitions
JANUARY 22, 2025
At the junior levels , entry-level professionals in both fields spend a lot of time in Excel working on models, valuations, and documents such as equity research reports and investment banking pitch books. Equity research at the senior levels does require sales skills, but its more about being a conduit than a closer.
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