Investing in Stocks Today with the Trump Backdrop

by Matt - April 12, 2018April 12, 20180

After a steady, low volatility rise in markets buoyed by the perception of a pro-business Trump government, promises of government driven infrastructure spend and large corporate tax cuts being effected. As covered extensively in the market news media, stock prices have been expensive and are amidst one of the longest bull

Buying Property as an Investment for Young Professionals

by Matt - April 11, 2018April 11, 20180

Sell Side Handbook regularly advocates for young professionals to invest their savings in the stock market as it is the best way to grow wealth. Cash in a savings account is stagnant and erodes in value over time due to price inflation over time. Investing spare funds ensures that money

Is Investment Banking As Lucrative or Prestigious As It Was In the Past?

Career

by Matt - April 8, 2018April 9, 20180

Investment banking has changed a lot in the last 5, 10 and 20 years. In a few posts, we will look at how it has changed. For most aspiring bankers, the reasons to become an investment banking analyst were straightforward. The job pays a lot and you can tell your

Canadian M&A Roundup Q1 2018

Mergers & Acquisitions

by Chris - April 3, 2018April 11, 20180

After an active year for Canadian M&A in 2017, the first quarter of 2018 has slowed down slightly. Total value of deals for domestic and cross-border announced transactions fell from CAD $62B in Q1 2017 to $27B in Q1 2018 but has kept pace with last quarters total of $32B. M&A

Global Oil Supply and Inventory Primer

by Matt - March 19, 20180

Global Oil Supply Oil supply is driven by OPEC, geopolitics and new technology. Oil demand is driven by consumption (driving, transportation), where China and other Emerging Markets make up a large percentage of incremental growth. Oil and Gas Price Equilibrium Overview The US$ price of oil itself has been in the news lately,

Types of Mining Methods

Metals & Mining

by Prithvi - March 9, 2018March 11, 20180

For an introduction to metals and mining, please read the following sections for an overview to the industry: Metals & Mining Basic Materials Selecting a Mining Method Selecting which mining method to use is one of the important decisions a mining company has to make. The mining method selected should maximize cost recovery and

Thoughts on Trump’s Steel & Aluminum Tariffs

Basic Materials

by Karl - March 9, 2018March 9, 20180

Last week, President Trump announced steel and aluminum import tariffs (of 25% and 10% respectively) on "national security" grounds (Section 232 of the Trade Expansion Act). He signed the orders to impose the tariffs today, with some amendments from his previous hard line position. The announcement follows tariffs on solar panels

Acquisition Finance: Equity Consideration

by Matt - March 6, 2018March 18, 20180

Should debt be completely tapped out or corporates want to stay within their investment grade credit rating (for some names, they may want to stay at a specific credit rating – for example A-), issuing equity or capital with high equity content is an option when a company requires funding

Acquisition Finance: Bullet Debt

by Matt - March 4, 2018March 5, 20180

Acquisition Financing – Investment Grade Bonds, Private Placements, Term Loan B, High Yield Debt Bonds, notes and term loans for institutional investors are otherwise seen as much more permanent capital than bank debt and is not meant to be paid down opportunistically. Fixed income investors – which are a distinct group

Acquisition Finance: Bank Debt

by Matt - March 3, 2018March 6, 20180

Forms of Acquisition Finance When people think about investment bankers, the first thing that comes to mind is usually is mergers & acquisitions. However, beyond the strategy and advisory component to effecting a merger, full service investment banks are eager to win acquisition finance mandates – that is providing the funds