TTS Blogs - Training The Street - Financial Training, Finance Training, Investment Banking Training, Financial Modeling Training

14 Mar

What Happened To Silicon Valley Bank?

October 2, 2023
By Training The Street

Failure of Regulations or Regulator? By Matthew Parker Many words have already been written about the failure of Silicon Valley Bank (“SVB”): the causes, the implications, whether there should be a Government bailout, should Glass Steagall be reintroduced - even should the FDIC deposit insurance be increased from $250k to $20m! To add...

22 Aug

TTS Blogs

Choosing The Right Financial Training

May 11, 2023
By Training The Street

How to ensure you and your team obtain essential finance skills Financial training comes in all shapes and sizes so how does one decide which is the best option to obtain new functional finance skills? At Training The Street, we consider the knowledge and skills required to be a high-performing finance...

28 Jul

TTS Blogs

The Twitter Saga: Why Valuation Discipline Beats M&A Fever

May 11, 2023
By Training The Street

The story of Twitter and Elon Musk, after playing out in the media for months, is now headed to the courts. Regardless of the outcome, the case will have a major impact on deal-making for years to come, affecting the way due diligence is conducted, transactions are structured, merger agreements...

17 Feb

TTS Blogs

Adjusting Enterprise Value for Cash, Cash Equivalents, and Venereal Disease

May 11, 2023
By Training The Street

Charlie Munger, Buffett’s long-time partner, and chairman of Daily Journal Corporation (DJCO) was answering shareholder questions today when the subject of crypto came up. On being asked whether he was wrong about buying crypto, Charlie said, “I’m proud that I never invested in Crypto. It’s like venereal disease”. That’s nice Charlie. That’s...

01 Jun

TTS Blogs

HERTZ: 0-60 IN 100 YEARS. 60-0 IN 0.5

May 11, 2023
By Training The Street

The following three statements are all true: In November 2019, Hertz went out to investors asking for $750M. Investors, impressed with what they saw, gave the company $900M instead. In April 2020, four billion dollars of Hertz's debt was rated triple-A, the same rating that the US government gets for...

18 May

TTS Blogs

Neiman Marcus’ Last Call

May 11, 2023
By Training The Street

Neiman Marcus and J. Crew are the latest to join a list of growing retailers filing for bankruptcy and they both have something in common – enormous debt burdens from leveraged buyouts led by private equity firms. As the government rolls out trillions of dollars in stimulus funds, a push by...

21 Apr

TTS Blogs

Excel Mishaps: Why It Pays to Have Excel OCD

May 11, 2023
By Training The Street

Marks and Spencer - When they announced that sales had risen in the quarter but they had, in fact, fallen; mistake due to... an Excel summing error. JPMorgan Chase - When they had $6.2bn in trading losses in 2012 (the “London Whale” incident) due to... an Excel error. Fidelity’s Magellan...

16 Feb

TTS Blogs

Kraft: A fallen angel

August 15, 2023
By Training The Street

Last week, Kraft Heinz bonds were downgraded to junk status, making it one of the largest “fallen angels” to enter the junk-bond market since 2005! Here are some key points… What is a “fallen angel”? A company that gets downgraded and loses its investment grade rating. What is the impact...