Pitch the Perfect Investment: The Essential Guide to Winning on Wall Street (Wiley Finance)

Pitch the Perfect Investment: The Essential Guide to Winning on Wall Street (Wiley Finance)

Learn the overlooked skill that is essential to Wall Street success Pitch the Perfect Investment combines investment analysis with persuasion and sales to teach you the “soft skill” so crucial to success in the financial markets. Written by the leading authorities in investment pitching, this book shows you how to develop and exploit the essential, career-advancing skill of pitching value-creating ideas to win over clients and investors. You’ll gain world-class insight into search strategy, data collection and research, securities analysis, and risk assessment and management to help you uncover the perfect opportunity; you’ll then strengthen your critical thinking skills and draw on psychology, argumentation, and informal logic to craft the perfect pitch to showcase your perfect idea. The ability to effectively pitch an investment is essential to securing a job on Wall Street, where it immediately becomes a fundamental part of day-to-day business. This book gives you in-depth training along with access to complete online ancillaries and case studies so you can master the little skill that makes a big difference. It doesn’t matter how great your investment ideas are if you can’t convince anyone to actually invest. Ideas must come to fruition to be truly great, and this book gives you the tools and understanding you need to get it done. Persuade potential investors, clients, executives, and employers Source, analyze, value, and pitch your ideas for stocks and acquisitions Get hired, make money, expand your company, and win business Craft the perfect investment into the perfect pitch Money managers, analysts, bankers, executives, salespeople, students, and individual investors alike stand to gain massively by employing the techniques discussed here. If you’re serious about success and ready to start moving up, Pitch the Perfect Investment shows you how to make it happen.

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Description

Editorial Reviews

About the Author

Paul D. Sonkin is a portfolio manager. Sonkin has been researching companies for 25 years. Sonkin was the portfolio manager of The Hummingbird Value Fund for 14 years. Sonkin taught courses on security analysis and value investing at the Columbia University Graduate School of Business for 16 years. He was a member of the Executive Advisory Board of The Heilbrunn Center for Graham & Dodd Investing for over a decade. Sonkin is a co-author. From Graham to Buffett and Beyond is a book about value investing.

Paul Johnson runs Nicusa Investment Advisors, an advisory firm focused on helping CEOs and Boards of Directors deal with operational and financial strategy, capital allocation, shareholder value creation, and corporate communications. Johnson applies his 35 years of experience as an investment professional and 25 years as a business school professor to help senior managers address critical strategic issues. The commitment to excellence award was given to Johnson by the 2016 and 2017 Executive MBA graduating classes in recognition of his outstanding commitment to their educational experience. Howard Marks wrote The Most Important Thing Illuminated. Johnson is a co-author of The Gorilla Game. Johnson attended the Wharton School of the University of Pennsylvania and the University of California, Berkeley.

–This text refers to an out of print or unavailable edition of this title.

Review

Advance praise for Pitch the Perfect Investment
“It is rare that you get a book on finance that is fun to read, immensely informative and deeply insightful. Sonkin and Johnson have pulled off the trifecta in this book. Read it if you work in the investing business already, plan to work in it or want to make sense of an investment pitch made to you.” ? Aswath Damodaran Professor of Finance, New York University Stern School of Business and author of The Dark Side of Valuation, The Little Book of Valuation and Narrative and Numbers.

“My decades of experience have taught me that pitching is a vital skill one must master to succeed on Wall Street. Sonkin and Johnson’s book gives someone new to the industry a significant head?start in obtaining this skill.” ? Regina Pitaro, Head of Institutional Marketing ? GAMCO Asset Management, Inc. and author of Deals… Deals… and More Deals.
“On Wall Street, fortune favors the prepared mind. In Pitch the Perfect Investment , Sonkin and Johnson provide a novel framework for this preparation, enabling you to both select investments and convince others of your view. Their explanations of market efficiency, the wisdom of crowds, and security valuation set a benchmark for clarity and practicality. – Scott E Page, Leonid Hurwicz Collegiate Professor Complex Systems, Political Science, and Economics – The University of Michigan

“A successful investor has to say ‘no’ far more often than they say ‘yes.’The key is making it count when you find the right investment.  The first 30 seconds of your pitch are often the most important chance to win or lose your audience. Pitch the Perfect Investment provides the toolkit to build conviction in your analysis and effectively articulate how it should be implemented.  Sonkin and Johnson follow their own advice with concise and persuasive principles.  Their guidance will neutralize the intimidation factor in pitching a portfolio manager,and allow the analyst to shine.” – Bruce Geller, CEO of DGHM & Co., LLC

“To the active portfolio manager, beating the market is essential. Sonkin and Johnson explain how to identify and exploit mispricings to accomplish that goal. It’s refreshing to read a book that stresses the importance of fundamental research in stock analysis, especially when active portfolio management is under attack by ETFs and passive investment vehicles.” Nicholas Galluccio, CEO Teton Advisors, Inc.

“The job of a venture associate is to bring great investment opportunities to the general partners they support.  The models and frameworks in Pitch the Perfect Investment, although aimed at public stock investing, translate easily to venture capital, where young analysts make the same mistakes in pitching their recommendation to senior VCs.The authors present their ideas is a straight-forward, fun manner. Much heartache will be avoided and faster decisions will be reached by any VC organization that adopts these recommendations.”- Geoffrey Moore, author Crossing the Chasm and Zone to Win
“While Pitch the Perfect Investment might appear to be written for the equity investor, it also provides the credit or distressed debt investor with critical insights to gain an edge – especially through the authors’ discussion of risk and uncertainty. In the credit markets, finding mispriced investments with an asymmetrical return is extremely valuable. Sonkin and Johnson provide a rigorous framework to properly identify and vet these situations. In addition to investing, my other passion is teaching. As an educator of analysts and MBA students, I am surprised it has taken so long for someone to write a book like this one. Sonkin and Johnson have finally corrected the problem.” – Michael Gatto, Partner Silver Point Capital and Adjunct Professor Columbia Business School.

“I wish I had this book when I started in the business. Having recently retired from a successful 43 year career on the sell side, I remember my early days being characterized by a lot of hits and misses. Pitch the Perfect Investment provides the newcomer with valuable shortcuts so they can experience more ‘hits’ and fewer ‘misses.’ Sonkin and Johnson translate serious financial concepts into an easy to understand, enjoyable read.” – Arnie Ursaner, Founder and Former President, CJS Securities.

Pitch a Perfect Investment It is difficult to wrap your brain around a set of concepts. There are many myths about how the investment management industry works, Sonkin and Johnson do a great job of explaining what’s really happening in this world. – Leigh Drogen, Founder and CEO, Estimize Inc.

“Communicating investment research in a thoughtful manner is both art and science, which Sonkin and Johnson masterfully teach in Pitch the Perfect Investment. I found their work wonderfully illuminating and I’m sure eager students, of all backgrounds and ages, will as well .” – John Mihaljevic Managing Editor, The Manual of Ideas

The book written by Sonkin and Johnson is excellent for investors. Their insights are relevant and timeless. I discuss it in my book. There are a lot of lessons for entrepreneurs. A venture capitalist tries to buy long-dated, deeply-out-of-the-money call options that are a bargain. A profitable exit is required for a successful venture investment. The perfect investment is pitched. Valuable tools to evaluate a company’s long-term competitive advantage, calculate the value of growth, and understand how investors think about value are provided. Their framework explains critical elements that maximize exit valuations. – The author of Charlie Munger: The Complete Investor and A Dozen Lessons for Entrepreneurs is a senior director at Microsoft.
“I always get asked the question – ‘If I want work for a money manager or a hedge fund, what should I do?’ While I have a condensed answer, it still takes hours just to get to explain basics. Now I can simply tell people you MUST read The Perfect Investment . The book does a great job at its mission – preparing analysts (or potential ones) for the job.” – Jacob Wolinsky, founder,ValueWalk.com

Pitch the Perfect Investment is a must read for anyone who, having formulated an investment idea, must “sell” the idea to a harried portfolio manager who is beseeched with ideas from numerous sources. The authors, highly regarded Wall Street veterans, share with the reader invaluable insights regarding not only the development of an investment theme,but, more importantly, how to market the idea in the most efficient manner. I’m highly confident that every young Wall Street analyst will reap immeasurable benefits from this highly readable book whose conversational style makes the information in the book readily accessible.” ? Robert Willens, President Robert Willens, LLC


“Pitch the Perfect Investment
is a game changer. Whether you are an experienced investor or new to the industry this book serves as both a reminder and primer for what you need to know to stand-out in the crowd and apart from the competition. The book systematically challenges prevailing beliefs regarding market efficiency and outlines key rules for valuing stocks and presenting your ideas. More importantly, from the perspective of job search and career management, Sonkin and Johnson tell you how to create a differential advantage so that your ideas get the attention they deserve and you are viewed as a rockstar. The authors provide powerful insights in an industry where first impressions either resonate immediately with your audience or eliminate you and your ideas from the outset. And, these insights apply to virtually everyone in the food chain – from experienced professionals to undergrads seeking their first Wall Street internship.” – Roy Cohen, Career Coach and best-selling author of The Wall Street Professional’s Survival Guide
“Farnam Street’s mission is to help investors add to their mental toolbox, expand their knowledge and improve their thinking. Through its clear prose and interesting examples, Pitch the Perfect Investment offers thought-provoking views on many investing-related topics. Specifically, Sonkin and Johnson’s discussion of risk and uncertainty expanded my thinking on these concepts.” Shane Parrish, Editor and Blogger, Farnam Street Media, Inc.

–This text refers to an alternate kindle_edition edition.

From the Back Cover

It’s important to respect and fear the old men. Men die young in a profession.

It’s a dark art to pitch stocks. seduction begins with thorough research, cold and rational analysis, and clear judgement. They explain this in great detail. Nothing is as important to landing your first job, and then thriving there, as pitching the perfect investment. Jeff Gramm. Portfolio Manager and author. There have been boardroom battles and the rise of shareholder activism.

A book on finance that is fun to read, immensely informative, and deeply insightful is rare. There are three things that Sonkin and Johnson have done in this book. Aswath Damodaran. Professor of Finance and author of a book. Investment valuation. And. There is a narrative and numbers.

My decades of experience have taught me that pitching is a vital skill one must master to succeed on Wall Street. The book by Sonkin and Johnson gives someone new to the industry a head start. Regina Pitaro. GAMCO Asset Management, Inc.’s head of institutional marketing is an author. There are more deals.

Sonkin and Johnson’s explanations of market efficiency, the wisdom of crowds, and security valuation set a benchmark for clarity and practicality. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it Scott E. Page. The University of Michigan has a Professor of Complex Systems, Political Science, and Economics. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it And author of books. The difference is different. And. There is a diversity bonus.

The perfect investment is pitched. The toolkit can be used to build conviction in your analysis and articulate how it should be implemented. Sonkin and Johnson follow their own advice. The analyst will be able to shine because of their guidance. Bruce Geller. The CEO of the company is.

Communication of investment research in a thoughtful manner is both art and science, which Sonkin and Johnson masterfully teach. It’s time to pitch the perfect investment. John Mihaljevic. The Managing Editor. There is a manual of ideas. The text refers to an alternate edition.

From the Inside Flap

Wall Street investors spend their careers analyzing companies and honing their investment strategies. They had to start somewhere.

The lack of training for research analysts on Wall Street leads to a baptism by fire that forces the new analyst to develop expertise on their own through trial and error. To overcome this deficiency, Sonkin and Johnson have written the ultimate survival guide for someone embarking on a career as an investment professional. I wish I had this book when I started in the business, said Arnie Ursaner, a sell side veteran who retired after 43 years on Wall Street. My early days were characterized by a lot of misses and hits. This book can be used to experience more hits and less misses.

Having knowledge is the most important element in survival, as knowledge makes you less afraid, and on Wall Street, fortune favors the prepared mind. The perfect investment is pitched. The faster the learning process, the better the student’s chances of succeeding, whether they are pitching a stock idea in a job interview, in a stock pitch competition, or for a student-run investment fund. Aswath Damodaran, a prolific author of over 20 books on valuation and award-winning professor at New York University, said, This is a book that most of my students would have loved to have had before their first interview and job.

Sonkin and Johnson want to push the open-minded, seasoned investment professional out of their comfort zone and challenge them to think about familiar concepts differently. Even the most successful veterans have to worry about younger managers snapping at their heels. The perfect investment is pitched. New tools will enable the Chief Investment Officer or Director of Research to tighten their analytical process and improve communication and efficiency throughout their organization. According to the author of several highly-acclaimed strategy books in the technology industry, Much heartache will be avoided and faster decisions will be reached by any organization that adopts Sonkin and Johnson’s recommendations.

In this era of hyper-competition on Wall Street, active portfolio management is under attack by passive investment vehicles. Even the smallest edge can make the difference between success and failure in this new environment, and beating the market is even more essential to the active portfolio manager. The perfect investment is pitched. The professional investor will get that edge.

A single resource will give students, money managers, analysts, bankers, executives, salespeople, and individual investors a faster way to improve their performance. The perfect investment is pitched. This text refers to an alternate edition of the book.

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Additional information

Best Sellers Rank

#334,350 in Kindle Store (See Top 100 in Kindle Store) #44 in Financial Services #136 in Financial Services Industry #506 in Sales & Selling (Kindle Store)

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