Customer Reviews

The Business of Investment Banking: A Comprehensive Overview

5 star:		(11)
4 star:		(5)
3 star:		(1)
2 star:		(3)
1 star:		(2)

 

 

This is an excellent book for anyone wondering what Investment Banking is all about, but who doesn't want to learn how to price a company. It describes in sufficient detail, for the reader to understand, the concepts underlying Investment Banking and what they really do in the Investment Banking world as well as explaining in easy (relatively) terms the jargon that is used in the business.

If you want the theoretical underpinnings of the financial world, this book is not for you. If, on the other hand, you're an aspiring Investment Banker that wants to know what it is all abour or if you're just curious about what the Investment Banking business is about: buy this book as a primer/introduction and if you find it interesting, search for a more theoretical book.

My biggest problem with this book is that it contains much misleading information on investment banking -- particularly with respect to securities law. As a former corporate and securities attorney and now investment banker, I found that at many points Liaw was at best half right and at worst completely wrong with respect to some of the finer points of the financing process. The book also contains numerous grammatical mistakes that are extremely distracting. (I would have expected more from John Wiley & Sons. Next time please hire a proofreader!) Is that too much to ask for an $80 book? In fairness, I did not get past the first 3 chapters of the book so perhaps the book gets much better later on, but I sincerely doubt it. In short, this book is not worth the money.

I was disappointed that I could not get any discount, but I bought it anyway. I wanted to get an understanding of this particular business segment. After reading several chapters of the book, I have to say that I am glad I purchased this title. It's an excellent reading for business school students and for those interested in this business. The book does not cover everything under the sun, but it does cover many of the major business areas very well. Nice and easy reading, no nonsense mathmatical equations. A good book.

This book is very well written and very easy to understand. It touches on most of the various aspects of the business without over-focusing or under-focusing on any particular area. A definate business school quality textbook, or an excellent reference source. Real life examples are given to further your hands-on understanding. I emailed the author, and my email was quickly responded to in a very friendly manner. I highly recommend this book for anyone wanting to learn the business of investment banking.

If you are a teenager or student in your early 20s and are fascinated with the big mysterious world of I-Banking, this book is for you. It starts from ground zero and provides a cursory explanation of what investment banking is, along with some guidance on career paths in the field.

If you are anyone else, forget it. As I struggled to maintain interest, I couldn't help but be reminded of a scene from the movie "Back to School", where Paxton Whitehead plays a B-school professor lecturing his class on how to start a business and Rodney Dangerfield plays a veteran businessman with no formal education. As Whitehead's character is pontificating about the nuances of how global interest rates affect the construction costs that a hypnothetical business will incur, Dangerfield's character can't help but blurt out "Why in the world would you build when you can rent in this market for half a buck a square foot and let someone else have the headaches of property management?". It quickly becomes apparent that the real-world experience of Dangerfield's character is far more useful than the off-topic theoretical knowledge of the professor. This author reminds me of Whitehead's character: Thoroughly vetted in academia and obviously having zero experience in the real world, and thus having zero useful real-world insight to share with his readers.

The most-cited references in the chapter bibliographies are the annual reports of the big I-banks, and the rest of the book is written at the same naieve, glossy-overview level.

In summary, if you want to know what it's like to serve in the Navy, you can get yourself a copy of the Navy's glossy brochure on what Navy careers are supposed to be like, or you can find a vet who's been in the Navy to tell you what it's really like. Reading this book is like reading the Navy's glossy brochure.

I am an MBA student at USC looking to get into the I Banking field and this book has really been helpful. It has been consistent with the terms and concepts I've learned in school and through networking with people.

Once I start interviewing, I feel confident that I will have a good inside perspective of the profession as a result of this book. Understandably, it leans toward the bulge bracket firms, but doesn't ignore the niche players.

Definitely a good read for anyone looking to learn more about Investment Banking.

What exactly do the Masters of the Universe do between weekends at their Hamptons estates? While most of us have a vague idea of what investment banking is, businesspeople need a clear understanding of what goes on behind the Wall Street curtain. This book pulls that curtain aside with a systematic explanation of the businesses, strategies and tools of the major investment banks. Parental advisory: The book features a technically complex subject being addressed by a professor in finance. Some colorful anecdotes or engaging examples might have lightened the mood, but this isn't exactly Oprah territory here, and we [...] heartily recommend this solid book. Writing with expertise, Thomas Liaw breaks down the current business of investment banking and examines the changes that are blending the profession with commercial banking and insurance, a process that could reduce the Masters to mere mortal servants of global financial services supermarkets.

While comprehensive in its coverage of investment banking activities, this book provides very little detail, less analysis and no insight. The actual relevant information this book provides would be summed up an introductory chapter of a better book. An example of a better book would be "Global Banking" by Ingo Walter and Roy Smith.

This is a great book for those trying to undertstand what investment banking is all about. The author has made an excellent choice of various industries within IB and is very articulate. Some background knowledge on basic IB terms would help you get through the book much quicker. But it's extremely suited even for people who have no prior knowledge about IB. I loved it, even though a lot of facts in the book have changed since the AIG and Wall Street meltdown of 2008-09.

So far this is a great read... recommended for anyone either in or looking to get into the very exciting and highly lucrative business that is Investment Banking and Investment Finance.