July 17, 2009

The Shadow Banking System That Operated In Broad Daylight: Part I - The Atlantic Business Channel

The Shadow Banking System That Operated In Broad Daylight: Part I - The Atlantic Business Channel

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Think Again: Asia's Rise - By Minxin Pei | Foreign Policy

Think Again: Asia's Rise - By Minxin Pei | Foreign Policy

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The Debate Over Private Equity In Banking - Dealbreaker - A Wall Street Tabloid - Business News Headlines and Financial Gossip

The Debate Over Private Equity In Banking - Dealbreaker - A Wall Street Tabloid - Business News Headlines and Financial Gossip

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Top 1000 world banks 2009 - The Banker

Top 1000 world banks 2009 - The Banker

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The rise of dark pools: Attack of the clones | The Economist

The rise of dark pools: Attack of the clones | The Economist

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Economics: What went wrong with economics | The Economist

Economics: What went wrong with economics | The Economist

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South Africa ETF - Nowhere to Go but Up? -- Seeking Alpha

South Africa ETF - Nowhere to Go but Up? -- Seeking Alpha

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Get Real: Earnings Have Been Horrific

Get Real: Earnings Have Been Horrific

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June 27, 2009

Fee Bonanza Spells More Trouble for Banks by Alexander Smith













Alexander Smith is a Reuters columnist. The views expressed are his own –

Investment banks are going to have a lot of explaining to do. After the lows of 2008, and despite the mauling they’ve had from politicians and the public, 2009 is going to be a bumper year for those that lived to tell the tale. The banks have pocketed an incredible $16 billion in fees in the second quarter, according to Thomson Reuters first half data on deals and fee income, released on Friday. Click here for related news.

Capital Markets Save Dealmakers’ Fees as M&A Wilts

Dealmakers saw business pick up again in the second quarter as they helped companies raise cash in capital markets, but lucrative mergers and acquisitions languished, Reuters said.

Worldwide combined capital markets and M&A fees rose for the first time in a year, Thomson Reuters data showed on Friday, up 29 percent from the first quarter, with share sales — like rights offerings — the most buoyant....(New York Times article)

Private Equity Valuation Model report

This private equity valuation model report emphasizes the significance of Volatility and Return on Invested Capital for private equity.The objective of this report is to document the intricacies of the valuation process private equity firms may sometimes overlook when considering a number of acquisition targets. Also, my objective is to shed light on an overlooked metric called Return on Invested Capital (ROIC) in relation to cost of capital. Through my current and past work with commercial banks and private equity firms, what I have noticed is that the basic discounted cash flow and pure play comparables may not be enough to determine the proper value of a company.