Corporate and Credit Securities
This course analyzes corporate finance and valuation with the tools, perspectives, and insights ofasset pricing and portfolio management. It covers issues in corporate finance and financial strategy,with a primary focus on valuation. This is applied to Mergers and Acquisitions (M&A), Initial PublicOfferings (IPOs), Private Equity (PE), Venture Capital (VC), Leveraged Buy-Outs (LBOs) and variousilliquid assets, including private debt and real estate.
Tools include staples from corporate finance including discounted cash-flow analysis, financialstatements, cost of capital, and financial ratios. We also develop tools useful for real options,distressed assets, and private valuation.
Additional attention is given to how quantitative-based investing strategies can make use of theseconcepts and tools, in the form of long-short equity trades, debt analysis, event strategies, and so-called "quantamental" strategies.