Distressed Investing & Distressed Financial Modeling with Wall Street Training (Ended)
Morning Program Description - Distressed Investing:
Learn how to analyze and value distressed companies and securities undergoing restructuring or bankruptcy process. First, appreciate and understand the historical perspective and context of the distressed market. Then, explore various opportunities in distressed investing from securities types to investment strategies. Properly identify and isolate the true sources and drivers of returns from supply & demand to operational changes to market rebound to recapitalizations. Quantify and comprehend the dramatic changes to a distressed firm's capital structure and the implications on the valuation process and realignment of economics. Understand the reorganization and bankruptcy process, including DIP (debtor-in-possession) financing, Section 363 sales (stalking horse), Chapter 11 reorganization, and Chapter 7 liquidation. Fully comprehend the key critical covenants required involved in distressed securities as well as the entire turnaround & restructuring process by identifying key parameters for successful business plan implementation.
Afternoon Program Description - Distressed Financial Modeling:
Learn how to model and value distressed companies and securities undergoing restructuring or bankruptcy process. Build upon our Distressed Investing Overview course by quantifying the dramatic changes to a distressed firm's capital structure and the implications on the valuation process and realignment of economics. Build robust distressed sensitivity financial model.
Date, Time, and Location:
Tues., April 9, 2013
9:00 am - 5:00 pm
Union League Club, 65 W. Jackson Blvd., Chicago, IL 60604
Register Online TodayYou will:
- Understand distressed investing, different investment strategies & valuation and bankruptcy process
- Comprehend capital structure pre- and post-petition, significant of identifying fulcrum security
- Comprehend the complexities and nuances involved with distressed analysis
- Model out sample distressed company on a standalone basis, with and without restructuring
- Incorporate detailed valuation sensitivity to identify key value drivers in a distressed situation
- Analyze the fulcrum security based on various valuation and leverage scenarios
- Accounting & Financial Statements Integration
- Corporate Valuation Methodologies
- Basic Financial Modeling
Members - $495
Non-Members - $595
Student-Members - $125 (Limited seats available)
(payable by cash, check or credit card - NO FUNCTION TICKETS)*
CFA Institute Qualified Activity: Eligible for 7 credit hours
Attire: Business Casual
Menu: Chef's Choice (Vegetarian meal available upon request)
Registration: Register online below
Hosted by: Education Advisory Group
8:30 am - 9:00 am: Registration
9:00 am - 5:00 pm: Seminar
Bring your PC laptop with Microsoft Excel installed and a working USB port. (Macs with Office 2008 will not be as effective).
NOTE: Laptops will not be provided.
Distressed Financial Modeling
- Summarize pre-petition capital structure of distressed situation & determine normalized valuation
- Construct standalone Income Statement project of distressed company
- Layer on various restructuring and turnaround scenarios
- Evaluate & analyze decision to restructure and understand financial implications on valuation
- Construct super-dynamic and flexible model to automate new vs. old cash flow capital structure
Distressed Financial Modeling & Sensitivity Analysis
- Construct robust sensitivity analysis to determine ultimate recovery to capital structure classes
- Sensitize distressed model based on leverage, valuation, new pro forma capital structure
- Analyze what constitutes a "bad" deal and its implications for the distressed investor
- Understand and appreciate various financial stakeholders and inherent conflicts of interest
- Quantify and evaluate the importance of determining the right fulcrum security
Instructor: Hamilton Lin, CFA
President and Founder - Wall Street Training
Hamilton Lin, CFA, President and Founder of Wall St. Training, has a broad background in investment banking and mergers and acquisitions. His responsibilities have included analyzing, structuring and negotiating mergers & acquisitions. Lin custom-builds and develops all of the financial and merger models that he uses which have become corporate and departmental standards. Lin has closed over two dozen transactions and has diverse industry experience ranging from oil & gas to insurance to asset management and related sectors.
About Wall St. Training:
Wall St. Training provides professional financial training solutions to Wall Street through hands-on classroom training and customized corporate training programs for financial analysis which take a hands-on, interactive, practical, non-theoretical approach. Wall Street Training's clients include Bank of America/Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank, Fidelity, GE, Goldman Sachs, JPMorgan, Morgan Stanley, TPG, and many others. For more information:
www.wallst-training.com and www.wstselfstudy.com.
*Special Notes Regarding Fees:
Student rate only available to students approved as a Student-Member of CFA Chicago for 2012-2013. Credit card is required to guarantee ALL reservations. Day-of-event registrations accepted on-site only if applicable and space available. There is a $10 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00pm, April 4.
Members of any CFA society may attend at the CFA Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.
CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.
Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.