REGISTRATION AND PAYMENT

   Value at Risk (VaR) Modeling for Different Asset Classes: Mar 7-8, 2012 (2 days)

2 days $ 1,350.00

Analyze and model various Value at Risk (VaR) approaches for a wide array of financial assets including stocks, bonds, forward contracts, futures contracts, swaps and options.

In this course, you will:
- Explore the statistical foundations and methodology of the VaR framework in Excel and gain insight into how the assumptions of VaR are violated in practice.
- Learn the Delta-Normal, Delta-Gamma and Full Valuation approaches to compute VaR for bonds, stocks and linear and non-linear derivative securities, such as forwards, futures and swaps, as well as calls and puts.
- Understand how changes in the composition of a portfolio affect VaR and implement VaR sensitivities in a portfolio: marginal, incremental and component VaR.
- Comprehend extensions of VaR and how VaR may be implemented with non-normal distributions, such as the Generalized Pareto Distribution (GPD), which can better capture the tail behavior of financial returns.
- Utilize Excel's advanced statistical and mathematical functions, from basics of random numbers to implementing probability distributions (including normal distribution) to Excel’s specialized matrix algebra operations.

Register by 10 days prior to course for $105 off! Use discount code: NYC105

   Credit Risk Modeling in Excel and VBA: Apr 25-26, 2012 (2 days)

2 days $ 1,350.00

In this post-credit crisis and tough regulatory environment, it is more essential than ever to understand and quantify the risk of your portfolio. Understand the role of default risk and prepayment assumptions in quantifying your portfolio structure. Enhance your understanding of credit risk in Excel and VBA, including: techniques for modeling credit transition matrices, statistical approaches to modeling default probabilities and correlations, methodologies for modeling credit portfolio risk, prepayment models for pooled securities, and others.

In this course, you will:
- Implement statistical foundations, including Monte Carlo Simulation using built-in native Excel functions and tools.
- Understand the structure of a credit ratings transition matrix and estimate using the cohort approach and the hazard rate approach.
- Estimate default probabilities and correlations, using Merton’s model of credit risk, linear and Poisson regression analysis, the asset value approach (method of moments and maximum likelihood approaches).
- Simulate and model prepayment rates, incorporating the structure of MBS and related derivatives, including IO and PO strips.
- Model different measures of prepayment speed, such as Single Monthly Mortality (SMM), Conditional Prepayment Rate (CPR) and Absolute Prepayment Speed (ABS).
- Utilize Excel’s specialized functions, including advanced statistical techniques, and Excel’s built-in optimization tools.
- Code in Excel VBA: Learn the fundamental programming structures and how it can be used to extend Excel’s capabilities in credit risk modeling.

Register by 10 days prior to course for $105 off! Use discount code: NYC105

   Volatility/Correlation Modeling and Risk Management: May 9-10, 2012 (2 Days)

2 days $ 1,350.00

Analyze and model various Value at Risk (VaR) approaches for a wide array of financial assets including stocks, bonds, forward contracts, futures contracts, swaps and options.

In this course, you will:
- Examine possible model outcomes and the occurrence probability using the @RISK simulation program, an add-in to Excel.
- Learn to model various financial applications and run a Monte Carlo Simulation to determine an optimal strategy.
- Explore the many functions and features of @RISK using financial examples.
- Examine option pricing.
- Find the value at risk of a portfolio.
- Evaluate an investment strategy in the stock market.
- Investigate hedging with futures.
- Compare retirement investment strategies.

Register by 10 days prior to course for $105 off! Use discount code: NYC105

   Interest Rate Derivatives Modeling and Term Structure of Rates: June 27-28, 2012 (2 Days)

2 days $ 1,350.00

In this course, you will:
- Learn insurance financial statement terminology and drivers, and the differences between insurance and reinsurance, property and casualty insurance, and life and health insurance.
- Differentiate between the different types of premiums (direct, ceded, net, written, earned) on the income statement and understand loss triangles and the main differences between statutory vs. GAAP accounting.
- Understand insurance valuation parameters, key insurance multiples, and why and how they are different from valuation of “regular” companies.
- Review key assets’ line items (premiums receivable, reinsurance recoverable, prepaid reinsurance premiums) on the balance sheet as well as the liabilities (loss and loss adjustment, expense reserve, unearned premium reserve).
- Build a quick, simplified insurance model to summarize logic and crystallize selected key items.

Register by 10 days prior to course for $105 off! Use discount code: NYC105

   Portfolio Optimization and Efficient Frontier Modeling: Jul 24-25, 2012 (2 days)

2 days $ 1,350.00

Current tough market conditions require an understanding of how to maximize your portfolio returns. Explore and model portfolio optimization techniques in the effi cient frontier and risk/reward trade-off.

In this course, you will:
- Extend the fundamentals of CAPM to the foundations of portfolio math, such as standard deviation, correlation and covariance, as well as optimization techniques.
- Learn how to easily implement Markowitz’s effi cient frontier methodology using Excel's matrix algebra functions and array tools to quickly calculate correlations amongst almost infi nite set of securities.
- Understand and quantify the concept and benefi ts of diversification and how risk can be reduced with a portfolio of assets.
- Start with raw return data for equity securities and construct an optimal stock portfolio in Excel; then layer on different asset classes including cash, fi xed income and options.
- Sensitize and quantify the effect of specifi c securities in the context of the overall portfolio: For instance, a stock may optimize the stock portfolio but not the overall diversifi ed portfolio.
- Utilize Excel to optimize portfolio construction based on maximizing returns and minimum variance mix of securities, using advanced statistical and mathematical functions.

Register by 10 days prior to course for $105 off! Use discount code: NYC105

Accounting & Financial Integration

6 month(s) $ 0.00

Course Goals & Overview:
This is not an Accounting class, but rather, is a perfect course for those needing a refresher or those desiring a financial statements crash course as it relates to financial analysis. Learn the most important and relevant areas of financial statements for financial modeling.

This program covers the basics of financial accounting including the major financial statements (Income Statement, Balance Sheet and Cash Flow) and the most important components of each as it relates to financial analysis. Concentration is placed on the integration of the financial statements and provides a full integrated grasp of accounting from a finance perspective.

Course Sections:
Financial Statement Analysis
- Income Statement, Balance Sheet, Cash Flow Statement defined and importance of
- Comprehensive Financial Statement review
- Components of each major financial statement
- IS: Revenue and expense items, EBITDA defined and discussed
- BS: Assets, Liabilities, and Shareholders' Equity
- CF: Cash Flow from Operations, Investing Activities and Financing
- Understand how financial statements are inter-related to each other
- Relationship between the Income Statement and Cash Flow Statement
- Explanation of Accrued Expenses, Receivables and Payables and how they tie together

Key Ratios
- Overview and explanation of major financial ratios, including: liquidity, asset management, debt management, profitability, and market value ratios

Hands-on Exercise
- Interactive group project break-out to analyze, compare and contrast financial statements of various companies; discussion and recommendation of which companies are more attractive

Video Length / Estimated Total Course Time:
2.5 hours / 4 hours

How to Analyze a 10K

6 month(s) $ 0.00

Course Goals & Overview:
"How to Analyze a 10K" builds upon basic accounting and financial statements concepts to focus on the major components of a 10K SEC filing, including the Management Discussion & Analysis, Financial Condition and Results and how to analyze the myriad of footnotes.

It’s simply not enough to merely analyze the financial statements, but especially critical to plow through and understand the footnotes and the management discussion & analysis, where the most of the qualitative information is contained. The challenge is that there are a myriad of footnotes and figuring out which are the important and relevant ones is no small feat. This course provides the overview and analysis for most major common footnotes and gives you a starting point to plow in deeper when we build our financial models. The irony is that in the process of crunching numbers and building numbers, reading comprehension, particularly on the 10K is probably even more important in terms of getting the right inputs.

Course Sections:
Overview & Analysis
- What is a 10K and how is it different from an Annual Report?
- Major components of a 10K filing
- Detailed discussion on the MD&A section (Management Discussion & Analysis)
- Detailed discussion of all major footnotes and how to analyze and interpret major categories of footnotes: general footnotes, Balance Sheet footnotes, contingencies footnotes, Income Statement footnotes, Capital Structure footnotes, many other footnotes
- Brief discussion of Proxy statement and its utility
- Brief discussion and introduction to differences between US and International GAAP

Hands-on Exercise
- Interactive group project break-out to analyze, compare and contrast 10K's of various companies
- Concentration on: revenue terminology differences, balance sheet analysis, cash flow analysis, analysis and comparison of footnote, MD&A / segment breakdown and discussion

Video Length / Estimated Total Course Time:
2 hours / 3 hours

Finance 101 - Introduction to Finance

6 month(s) $ 0.00

Course Goals & Overview:
Learn the basic finance concepts that are the backbone of any financial analysis. An understanding of these basic core tools is absolutely critical to mastering any Wall Street analysis. Topics covered include risk / return trade-offs, time value of money, cost of capital, Gordon growth model and basic valuation theories.

Moving beyond the accounting and 10K analysis, this course provides an introduction to the major concepts in finance that many people take for granted. Understanding financial modeling, valuation, and the capital markets in general would be difficult without a full grasp of these fundamental concepts.

Course Sections:
- Risk / Return: Calculating returns and measuring risk, benefits of diversification (systematic and unsystematic risk, total risk, market risk and firm-specific risk), security market line, capital asset pricing model, beta
- Time Value of Money: present and future values, net present value, internal rate of return, compounding, discounting, uneven cash flow streams, simple vs. effective rates, periodic rates, CAGR (Compound Annual Growth Rates)
- Basic Valuation Theories: value of any asset, dividend discount model (theory only!), Gordon growth model, growing perpetuity
- Cost of Capital: sources of capital, component costs, weighted average cost of capital

Video Length / Estimated Total Course Time:
1.5 hours / 2 hours

Company Profiles

6 month(s) $ 0.00

Course Goals & Overview:
Company profiles are the most basic overview and descriptions of a company being analyzed. Profiles supply the most basic and fundamental, yet probably the most important aspects of a company. Gain an introduction and explanation of the major components of a profile for a publicly traded company.

Course Sections:
- Summary business description and financial summary and trading analysis
- Stock price charts: price / volume graphs, indexed stock price history, moving averages, shares traded at various prices, forward PE history, historical EBITDA multiple valuation trends, beta and volatility, management and Board of Directors biographies, ownership analysis

Video Length / Estimated Total Course Time:
1 hour / 1 hour

Company Overview

6 month(s) $ 0.00

Course Goals & Overview:
Build very quick financial summary and trading statistics exhibit using historical results, analyst estimates & basic assumptions in Excel. This course will allow you to understand basic structure of building an analysis in Excel and navigating through and becoming efficient in Excel.

Course Sections:
Financial Summary
- Build a very simple financial overview exhibit by inputting historical results, analyst estimates and basic projections.

Trading Statistics
- Build trading statistics exhibit displaying standard market valuation multiples.

Video Length / Estimated Total Course Time:
1.5 hours / 2 hours

Overview of Financial Markets

6 month(s) $ 0.00

Course Goals & Overview:
Introduction to the major jargon and finance terminology in finance. What exactly is the sell-side and the buy-side and do they affect the capital markets and why do they have a symbiotic relationship? What exactly is investment banking, sales & trading and research? How is it that asset management is the flip opposite and yet very similar at the same time? Put those questions to rest with this Overview of Financial Markets overview.

Course Sections:
- Overview of the Sell-Side Process: Investment banking (products / services, deal process, role of professional, industry trends, buzzwords, bulge bracket vs. boutique middle market), equity research, commercial banking, sales & trading (prime brokerage, proprietary trading)
- Overview of the Buy-Side Process: Asset management (products / services, role of professional, industry trends, buzzwords, private client services, private wealth management, portfolio management ), alternatives (hedge funds, private equity, fund of funds)

Video Length / Estimated Total Course Time:
1 hour / 1 hour

Supplementary Video Exhibits

6 month(s) $ 0.00

Treasury Options: - Explanation of how to account for diluted shares outstanding using the treasury method of adjustment

Depreciation in Future: - Full tutorial on the concepts of depreciation vs. capital expenditures in the long run
- Full explanation on the concepts working capital and importance of

Share Repurchase: - Step-by-step walk-through of whether or not share repurchases add value

Circular Reference: - Explanation of how and why circular references are created in a financial model - Our various financial modeling courses explain how to avoid circular references

Excel Iterations: - Detailed explanation of how Excel's iterations function works when you cannot avoid circular reference

Gray Background: - Tutorial of how to change your background to gray when using white cells and white shading

WST Excel Add-in Instructions: - How to properly install Wall St. Training's Excel add-in macros & toolbars

Increase / Decrease Decimal Instructions: - How to automate increase and decrease decimals without the mouse and really customize Excel to the next level

Video Length / Estimated Total Course Time:
1 hour / 1.5 hours

Youtube Clips

6 month(s) $ 0.00

A sampling of selected extracts – self-contained video clips - from our courses and packages. For full access to our courses, click on Order More Courses. Enjoy!