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About Paul Pignataro
Since its publication, "Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity" has been ranked #1 on Amazon.com in Finance Hot New Releases and #1 Valuation Bestsellers.
The New York School of Finance is a semester-long program, based in New York and geared towards helping business students from top tier and lower tier business schools prepare for jobs at the top firms on Wall Street.
At AnEx Training, Paul continues to participate on the training team, actively providing training at bulge bracket banks and for M&A teams at corporations, and has personally trained personnel at funds catering to high net worth individuals worth billions of dollars. AnEx continues to train at over 50 locations worldwide, and Paul travels extensively on a monthly basis training at sovereign funds and investment banks overseas.
Prior to his entrepreneurial endeavors, Mr. Pignataro worked at TH Lee Putnam Ventures, a $1 billion private equity firm affiliated with buyout giant Thomas H. Lee Partners. Before that, he was at Morgan Stanley, where he worked on various transactions in the technology, energy, transportation, and business services industries. Some of the transactions included the $33.3 billion merger of BP Amoco and ARCO, the $7.6 billion sale of American Water Works to RWE (a German water company), the sale of two subsidiaries of Citizens Communications (a $3.0 billion communications company), and the sale of a $100 million propane distribution subsidiary of a $3 billion electric utility.
Paul continues to consult on Private Equity and M&A Advisory transactions, having most recently closed a leveraged buyout of a $30MM medical device business. He is also actively working on several M&A assignments for Fortune 500 companies.
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Written by the Founder and CEO of the prestigious New York School of Finance, this book schools you in the fundamental tools for accurately assessing the soundness of a stock investment. Built around a full-length case study of Wal-Mart, it shows you how to perform an in-depth analysis of that company's financial standing, walking you through all the steps of developing a sophisticated financial model as done by professional Wall Street analysts. You will construct a full scale financial model and valuation step-by-step as you page through the book.
When we ran this analysis in January of 2012, we estimated the stock was undervalued. Since the first run of the analysis, the stock has increased 35 percent. Re-evaluating Wal-Mart 9months later, we will step through the techniques utilized by Wall Street analysts to build models on and properly value business entities.
- Step-by-step financial modeling - taught using downloadable Wall Street models, you will construct the model step by step as you page through the book.
- Hot keys and explicit Excel instructions aid even the novice excel modeler.
- Model built complete with Income Statement, Cash Flow Statement, Balance Sheet, Balance Sheet Balancing Techniques, Depreciation Schedule (complete with accelerating depreciation and deferring taxes), working capital schedule, debt schedule, handling circular references, and automatic debt pay downs.
- Illustrative concepts including detailing model flows help aid in conceptual understanding.
- Concepts are reiterated and honed, perfect for a novice yet detailed enough for a professional.
- Model built direct from Wal-Mart public filings, searching through notes, performing research, and illustrating techniques to formulate projections.
- Includes in-depth coverage of valuation techniques commonly used by Wall Street professionals.
- Illustrative comparable company analyses - built the right way, direct from historical financials, calculating LTM (Last Twelve Month) data, calendarization, and properly smoothing EBITDA and Net Income.
- Precedent transactions analysis - detailing how to extract proper metrics from relevant proxy statements
- Discounted cash flow analysis - simplifying and illustrating how a DCF is utilized, how unlevered free cash flow is derived, and the meaning of weighted average cost of capital (WACC)
- Step-by-step we will come up with a valuation on Wal-Mart
- Chapter end questions, practice models, additional case studies and common interview questions (found in the companion website) help solidify the techniques honed in the book; ideal for universities or business students looking to break into the investment banking field.
The private equity industry has grown dramatically over the past twenty years. Such investing requires a strong technical know-how in order to turn private investments into successful enterprises. That is why Paul Pignataro has created Leveraged Buyouts + Website: A Practical Guide to Investment Banking and Private Equity.
Engaging and informative, this book skillfully shows how to identify a private company, takes you through the analysis behind bringing such an investment to profitability—and further create high returns for the private equity funds. It includes an informative leveraged buyout overview, touching on everything from LBO modeling, accounting, and value creation theory to leveraged buyout concepts and mechanics.
- Provides an in-depth analysis of how to identify a private company, bring such an investment to profitability, and create high returns for the private equity funds
- Includes an informative LBO model and case study as well as private company valuation
- Written by Paul Pignataro, founder and CEO of the New York School of Finance
If you're looking for the best way to hone your skills in this field, look no further than this book.
Paul Pignataro reveals the secrets behind growth through M&Ain his new book, Mergers, Acquisitions, Divestitures, and OtherRestructurings + Website. Through market shifts and regulatorychanges, M&A has served as a solid approach to growth. Creatingvalue through mergers and acquisitions is a highly covetedstrategy, and Wall Street has long sought a clear technicalunderstanding of the components of M&A as a key driver ofgrowth. In this book, the author provides that understanding,covering all essential aspects of accounting and modeling for theM&A process.
With over a decade of experience aiding billion-dollarrestructuring deals, Paul Pignataro is in an excellent position tobreak down M&A from a finance standpoint. Mergers,Acquisitions, Divestitures, and Other Restructurings covers thefinancial accounting and modeling behind several M&Astructures. Using the merger of Office Depot and Office Max, Mr.Pignataro fully addresses the entire integration, explains EBITDA,and other crucial performance measures. This text is for financepractitioners who want to explore every corner of the M&Aprocess.
- Learn accounting for asset acquisitions, asset divestitures,and corporate mergers
- Explore modeling methods including mini-merger modeling andfully consolidated merger modeling
- Read case studies demonstrating the practical success oftheoretical models
- Understand EBITDA, cash flow, capital structure, and theirimpact on M&A success and value creation
This new text from the CEO and founder of the New York School ofFinance is key for understanding how restructuring leads to growthand value creation. The importance of M&A shows no signs ofslowing, meaning that finance professionals need to be able toaccurately analyze the prospects and impacts of restructuringmoves. Mergers, Acquisitions, Divestitures, and OtherRestructurings + Website is the authoritative resource fordoing just that.
The Complete, Technical Interview Guide to Investment Banking is the aspiring investment banker's guide to acing the interview and beginning your journey to the top. By merging a 'study guide' to the field with a forecast of the interview, this book helps you prepare for both content and structure; you'll brush up on important topics while getting a preview of the questions your interviewers are likely to ask. Covering financial statements, valuation, mergers and acquisitions, and leveraged buyouts, the discussion provides the answers to common technical questions while refreshing your understanding of the core technical analyses behind core models and analyses. Each chapter includes a list of the questions you will almost certainly be asked—along with the answers that interviewers want to hear—from the basic Q&A to the advanced technical analyses and case studies. This guide will reinforce your knowledge and give you the confidence to handle anything they can throw at you.
You will receive an expert synopsis of the major points you need to know, to ensure your understanding and ability to handle the multitude of questions in each area.
- Double-check your conceptual grasp of core finance topics
- Plan your responses to common technical and analysis questions
- Understand how to analyze and solve technical analyses and cases
- Gain insight into what interviewers want to hear from potential hires
- Become the candidate they can't turn away
You've positioned yourself as a competitive candidate, and the right job right now can chart your entire career's trajectory. Now you just have to win the recruiting race. The Complete, Technical Interview Guide to Investment Banking is the ultimate preparation guide to getting the job you want.