Tag Archives: finance

Ent Finance over

Almost as soon as it begun it is over. The Ent Finance module was one of the best courses that WBS has put on; it throughly deserved its standing ovation at the end.  The professor was visably moved at the recieption and feedback recieved and you could tell the sense of achievement that he felt having moved us all on so far in such a short time.  The course alumni event in London was equally good and a chance to meet with UCLA and WBS former graduates.  In Nick Bates language, this production was simple awesome.

Ent Finance

latenightneonsignIts another late night and the group are taking a break for some fresh air (read cigarette!)

The learning and volume of work that we have been getting through is great. When we read about the module beforehand, you have no idea of what effort is really involved, and then when you do and you achieve it all, there is immense satisfaction.  

The teaching is infectious and everyone can’t help but be absorbed by this experience.  Not once have I heard anyone moaning about any part; staggering really as this module is making us work harder than any other – it is like a mini MBA all in itself.

To do an MBA and come out without having had this teaching will put those without at a disadvantage; taking a moment to reflect it is quite amazing how far we have all come in such a short time – talking about Balance Sheets, PnL accounts, Cash flows, Senior Debt, Convertiable debentures, Equity, Stock, Puts and Calls etc quite naturally and fluently!

How great!

Entrepreneurial Finance begins …

cartoon4The long awaited entrepreneurial finance course begins tomorrow.  We have our seating plan and have had a good go at all the pre-reading and case reviews.  The work was hard to fit in around the other commitments but I enjoyed it.

Updates to follow on whether the course is as good as I have been told.

Hope everyone had a great break over Easter.  Summer is on the way and chilli progress is promising …

Corporate Finance

corpfinanceThe exam week is upon us and even though I was well prepared today, the nerves are always there.

Those chilling words “and you may now turn over your papers and begin” echoed around the (different) basketball court (again) as a few hundred of us got our heads down and calculators out.

The exam format was such that there was a multiple choice, two long numerical questions and an essay question to answer in the time.  Counterintuitively, by far the most difficult section is always the multiple choice.  The reason for this are that you can only be right or wrong (no method marks!), there is little time (only 3mins on average) and because, the lecturers are super worried about people saying it is easy, I recon make it super tricky.

For example:

Which of the following statements is true?
a) The beta of a simple portfolio consisting of only two assets does not
depend on the correlation coefficient between the returns of the assets.
b) According to the CAPM, firms with the same beta will earn the same
expected return, irrespective of how large or small the firms are.
c) Other things being equal, the higher the covariance between the returns
of an asset and the returns of the market, the higher the asset’s beta.
d) All of the above.
e) None of the above.


The MacDonald family are considering the following retirement plan: for the next 30
years, they will pay a fixed amount each month into a fund. Thereafter, they will
withdraw £2,500 each month for the following 20 years. If the fund earns a return of
6% per annum, how much (approximately) must they pay into the fund each month
for the first 30 years to finance their withdrawals for the remaining 20 years?
a) £347
b) £363
c) £755
d) £935
e) None of the above.

It is those killer choices at the end ‘All/None of the above’ that make questions like this so tricky.  Rather like the GMAT for those reading this who have been through that boot camp of a test.

Happily I think the exam went well regardless so now have my head down for the next three, that are all in quick succession Wednesday through Thursday.