BOOKS AND COURSES
BY JOSHUA PEARL
The Little Book of Investing Like the Pros
Stock investing is more prevalent than ever, whether directly or indirectly through brokerage accounts, exchange-traded funds, mutual funds, or retirement plans. Despite this, the vast majority of individual investors have no training on how to pick stocks. And, until now, there hasn’t been a truly accessible, easy-to-understand resource available to help them. The Little Book of Investing Like the Pros was written to fill this void. We believe the simplicity and accessibility of our stock picking framework is truly unique. Using real-world examples and actual Wall Street models used by the pros, we teach you how to pick stocks in an easily approachable, step-by-step manner. Our goal is straightforward—to impart the skills necessary for finding high-quality stocks while protecting your portfolio with risk management best practices. Our practical approach is designed to help demystify the investing process, which can be intimidating. This training will help set you apart from others who are largely flying blind.
Investment Banking: Valuation, LBOs, M&A, and IPOs
Investment Banking: Valuation, LBOs, M&A, and IPOs is a highly accessible and authoritative book written by investment bankers that explains how to perform the valuation work at the core of the financial world—comparable companies, precedent transactions, DCF, LBO, and M&A analysis . . . and now IPO analysis. Using a step-by-step, how-to approach for each methodology, the authors build a chronological knowledge base and define key terms, financial concepts, and processes throughout the book. In 2020, the global best-selling book on investment banking and valuation received a timely update. The new 3rd edition reflects valuable contributions from Nasdaq, the leading U.S. exchange and technology provider for IPOs and new listings, and global law firm Latham & Watkins LLP. Now, over 10 years after the release of the first edition, the book is more relevant and topical than ever. It is used in over 200 universities globally and has become a go-to resource for investment banks, private equity firms, and corporations undertaking M&A transactions, LBOs, IPOs, restructurings, and investment decisions.
Investment Banking, University Edition
Investment Banking, UNIVERSITY EDITION introduces readers to the primary valuation methodologies currently employed on Wall Street using a step-by-step how-to approach for each methodology and builds a chronological knowledge base along the way. It also provides critical instruction on IPOs and equity capital markets, including valuation, terms, and structure. The content is specifically designed and sequenced to teach readers everything they need to know to land their dream jobs on Wall Street. Written by actual practicing bankers and investors, Investment Banking, UNIVERSITY EDITION focuses on practical application to ensure readers master the answers to the technical questions that have become standard in Wall Street interviews.
Investment Banking Workbook
Investment Banking WORKBOOK is the ideal complement to Investment Banking, UNIVERSITY EDITION—enabling readers to truly master and refine the core skills at the center of the world of finance. The WORKBOOK, which parallels the main book chapter by chapter, contains over 500 questions and detailed answers. Topics reviewed include valuation and its various forms of analysis, leveraged buyouts, M&A sell-side tools and techniques, M&A buy-side strategy and analysis, and IPOs, including valuation, structure, and process, as well as SPACs and direct listings. The WORKBOOK provides a mix of multi-step problem set exercises, as well as multiple-choice and essay questions with a comprehensive answer key that aims to truly teach and explain. This unique layout is designed to ensure mastery of key modeling conventions and financial calculations and is meant to be an indispensable learning tool for current and aspiring investment bankers, students, career changers, private equity and hedge fund professionals, sell-side research analysts, corporate lawyers, and finance professionals at corporations.
Investment Banking Focus Notes
Investment Banking FOCUS NOTES provides a comprehensive, yet streamlined, review of the basic skills and concepts discussed in Investment Banking: Valuation, LBOs, M&A, and IPOs. The focus notes are designed for use both as a companion to the book, as well as on a standalone basis. Investment Banking focuses on the primary valuation methodologies currently used on Wall Street―namely, comparable companies analysis, precedent transactions analysis, DCF analysis, and LBO analysis―as well as detailed M&A analysis from both a sell-side and buy-side perspective. Our focus notes seek to help solidify knowledge of these core financial topics as true mastery must be tested, honed, and retested over time.
Investment Banking Online Prep Course
In the evolving world of finance, a solid technical foundation is essential for success. Launch your career on Wall Street and become a successful seasoned pro with Wiley’s comprehensive, online investment banking prep course – ideal for busy people with real-world schedules. This course includes the #1 best-selling book on investment banking by Joshua Rosenbaum and Joshua Pearl. Plug in your completion date and you’ll have a study schedule in seconds. Learn with 20 hours of pre-recorded lecture videos and in-depth study guide. Then, reinforce your understanding, sharpen your knowledge and apply your skills to ace the interview and build your confidence for a high-flying career with more than 500+ practice questions and powerful performance metrics that track your progress.
TESTIMONIALS
The Little Book of Investing Like the Pros
"Simply put, I have never before seen a book that provides the same complete and thoughtful orientation to the process of investing. The Little Book is clear, logical and well-organized, a concise survey course in what investors need to know. It starts at the beginning, with identifying candidates for investment and screening them for potential."
— Howard Marks, Co-Chairman and Co-Founder, Oaktree Capital Management
“Pearl and Rosenbaum have written a book that any serious investor, or anyone aspiring to be one, will want to read. Investing in stocks sounds easy. It's not. Emotion surrounding equities and money too often impedes clear and methodical thinking, which is the key to long-term success in the stock market. This volume provides a framework that will help you stay on track.”
— David Abrams, Founder, Abrams Capital Management
“Contrary to what many believe, investing need not be a random walk. For would-be stock pickers who want to beat the market, The Little Book of Investing Like the Pros articulates a process which will greatly assist them in achieving that goal.”
— Stanley Druckenmiller, Founder & CIO, Duquesne Family Office
“Josh was among the first investors outside of the cable universe to understand and believe in what we could do with Charter. The tools and techniques contained in this book were crucial in uncovering this story, which continues to unfold.”
— Thomas Rutledge, Chairman & CEO, Charter Communications
“This book is a valuable guide for investors learning to select securities and build portfolios in a thoughtful, professional manner. The authors provide an easy-to-follow approach which begins with idea generation and moves through the critical steps for analyzing company performance, security valuation, and potential risks.”
— Abby Joseph Cohen, CFA, Advisory Director and Senior Investment Strategist, Goldman Sachs
“The two Joshes have produced a succinct investment guide. They have distilled some of the most complex investing concepts into an easily digestible and accessible framework.”
— Nelson Peltz, CEO & Founding Partner, Trian Fund Management
“When we did our roadshow, many investors felt our story was too good to be true. Those that didn't invest missed out on a tremendous ride. This book may have helped them make a different decision.”
— Rodney O’Neal, Retired President and CEO, Delphi Automotive
Investment Banking: Valuation, LBOs, M&A, and IPOs
"For me personally, it’s exciting to see Joshua Rosenbaum and Joshua Pearl take the lead in training a new generation of investment bankers. Their work in documenting valuation and deal process in an accessible manner is a particularly important contribution as many aspects of investment banking cannot be taught, even in the world’s greatest universities and business schools."
— Joseph R. Perella, Chairman and CEO, Perella Weinberg Partners
"It gives me great confidence that many from the new generation of future financial leaders learned their corporate finance fundamentals with the help of Rosenbaum and Pearl and their best-selling book, Investment Banking. Rosenbaum and Pearl have created a comprehensive, yet highly accessible, written guide to the core skills of the successful investment professional, with a particular emphasis on valuation analysis."
— Joshua Harris, Co-Founder and Senior Managing Director, Apollo Global Management
"This book will surely become an indispensable guide to the art of buyout and M&A valuation, for the experienced investment practitioner as well as for the non-professional seeking to learn the mysteries of valuation."
— David M. Rubenstein, Co-Founder and Co-Executive Chairman, The Carlyle Group
"The two Joshes present corporate finance in a broad, yet detailed framework for understanding valuation, balance sheets, and business combinations. As such, their book is an essential resource for understanding complex businesses and capital structures whether you are on the buy-side or sell-side."
— Mitchell R. Julis, Co-Chairman and Co-CEO, Canyon Partners, LLC
"Investment Banking provides a highly practical and relevant guide to the valuation analysis at the core of investment banking, private equity, and corporate finance. Mastery of these essential skills is fundamental for any role in transaction-related finance. This book will become a fixture on every finance professional's bookshelf."
— Thomas H. Lee, President, Lee Equity Partners, LLC Founder, Thomas H. Lee Capital Management, LLC
"As a pioneer in public equities, Nasdaq is excited to be partnering with Rosenbaum and Pearl on Investment Banking as they break new ground on content related to IPOs, direct listings, and SPACs. We recommend the book for any shareholder and senior executive looking to take a company public, as well as their bankers and lawyers."
— Adena Friedman, President and CEO, Nasdaq
"Valuation is the key to any transaction. Investment Banking provides specific step-by-step valuation procedures for LBO and M&A transactions, with lots of diagrams and numerical examples."
— Roger G. Ibbotson, Professor in the Practice of Finance, Yale School of Management Chairman and CIO, Zebra Capital Management, LLC Founder, Ibbotson Associates
"Investment banking requires a skill set that combines both art and science. While numerous textbooks provide students with the core principles of financial economics, the rich institutional considerations that are essential on Wall Street are not well documented. This book represents an important step in filling this gap."
— Josh Lerner, Jacob H. Schiff Professor of Investment Banking, Harvard Business School Co-author, Venture Capital and Private Equity: A Casebook
"Investment Banking provides fresh insight and perspective to valuation analysis, the basis for every great trade and winning deal on Wall Street. The book is written from the perspective of practitioners, setting it apart from other texts."
— Gregory Zuckerman, Special Writer, The Wall Street Journal Author, The Greatest Trade Ever
"As a new generation of students prepare to enter Wall Street, a sound technical foundation is more essential now than ever. Rosenbaum and Pearl have drawn from their broad deal experience and extensive network to create the best valuation and deal guidebook in the world."
— Alan C. "Ace" Greenberg, Former CEO and Chairman of the Board, Bear Stearns
“Investment Banking is the best resource for helping bridge students from the academic world of finance to the real world of Wall Street. It is core reading material for all my finance courses and a must-read for students looking to break into the ultra-competitive world of professional finance.”
— David Haeberle, Peterson Faculty Fellow in Investment Banking, Indiana University, Kelley School of Business
"Navigating the treacherous waters around Wall Street has never been easy. That is especially true in the wake of the recent financial crisis. But thanks to the two Joshes, aspiring bankers can get all their questions answered right here!"
— William D. Cohan, Columnist, Author of Money and Power and House of Cards