Authors Joshua Rosenbaum and Joshua Pearl Talk "Investment Banking"

The demand for an educational guide that focused on the primary valuation methodologies used in investment banking inspired authors Rosenbaum and Pearl to write the second edition of their global-best-selling book Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions.


7 June 2013

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Wouldn’t it be nice to have a book that teaches you the solid technical foundation and practical skills needed to succeed on Wall Street? Well that’s just what authors Joshua Rosenbaum and Josh Pearl delivered.

The demand for an educational guide that focused on the primary valuation methodologies used in investment banking inspired authors Rosenbaum and Pearl to write the second edition of their global-best-selling book Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions.

“The need for a book on practical finance technical skills written by actual bankers motivated us to undertake the herculean effort to write, and recently update and add content to, our book,” said authors Rosenbaum and Pearl in a recent interview with Intralinks. “In short, Investment Banking is the book we wish we had when we were interviewing and starting on Wall Street—it is the ultimate Wall Street internship/job seekers guide,” the authors added.

Through our book partnership with Joshua Rosenbaum and Josh Pearl, we had the opportunity to interview the authors on the details of the new edition and the experiences they’ve encountered throughout their careers.
In part one of our interview, you’ll learn more about the book and what’s changed in the industry since the first edition of “Investment Banking” was released.

Intralinks: What fundamentals, methods or skills will readers gain from this book?

Rosenbaum and Pearl: A solid technical foundation is an essential tool for success for breaking into, succeeding and advancing in the fast-paced world of Wall Street. There is nothing else on the market that teaches the nuts-and-bolts of the pillars of investment banking–comparable companies, precedent transactions, DCF and LBO analysis, as well as M&A analysis–in such an accessible and effective manner. Using a step-by-step how-to approach for each methodology, our book builds a chronological knowledge base and defines key terms, financial concepts and processes.

In our book, we harnessed the ultimate blend of theory and practice, and filled the void that was missing in finance literature. The financial techniques and applications in Investment Banking reflect contributions from both academia and Wall Street. Throughout the writing and updating of our book we consulted with top bankers, private equity investors, hedge fund professionals, corporate lawyers, accountants and business school professors.

Intralinks: Why did you partner with Intralinks on the new edition of the book?

Rosenbaum and Pearl: We are very excited about our partnership with Intralinks. With over 20 years of experience in M&A, LBOs and capital markets transactions, we have used Intralinks extensively on our own transactions and know the value they bring to a deal. As the trusted virtual data room provider for every bulge bracket investment bank, more than 50 top boutique investment banks and numerous Global Fortune 1000 companies, Intralinks was a natural choice for a partner.

Our partnership with Intralinks provides a huge benefit for our readers. We have entire chapters dedicated to M&A and LBO sale process and highlight the importance of the due diligence process and data rooms. As the world’s leading data room provider. Intralinks is at the center of the due diligence process, which is critical for successfully executing M&A, LBO and capital markets transactions. Therefore, bankers need to understand the role of the Intralinks dataroom in the due diligence process, including how to use it effectively. Thus, our Intralinks partnership makes our ultra-practical book even more practical and relevant to real world transactions.

Intralinks: Since the first edition of the book, what has changed in the industry?

Rosenbaum and Pearl: A lot has happened since the first edition of our book. The first edition was published in 2009 during the depths of the financial crisis. This timing was actually beneficial as were able to incorporate the events of 2008 and the ‘new normal’ that ensued, especially in our LBO and leveraged finance chapters. Our timing for publishing the second edition in 2013 is also fortunate as we have captured the new “new normal” of the post-financial crisis world, which reflects more typical market conditions and behavior. Investors and companies are returning to the fundamentals of valuation and critical due diligence for M&A, capital markets and investment opportunities.

Our book emphasizes that while the fundamentals of valuation are timeless in the sense that mathematics and certain other scientific principles are enduring, their practical application is very timely as it needs to reflect prevailing market conditions, which can be highly volatile. The way we think about the book is that it provides you with the financial anchor that will allow you to weather any storm that the markets bring your way.

Stay tuned for part two, where you’ll gain personal advice from the authors on how to break into the industry and the challenges you could encounter along the way.



Meagan Parrish

Meagan Parrish

Meagan Parrish is the Senior Manager of Social Media at Intralinks. She is responsible for social media strategy development and the communications for Intralinks' online communities. Meagan has been creating social media strategies for a variety of companies across verticals for the past several years. She holds Bachelor degrees in Marketing and Finance, with a minor in English Literature.