Misc
What's the cutoff of IG and HY (Give both)
Moody’s Baa3 (ba1 is top HY)
S&P BBB- (BB+ is top HY)
Oct PPI (Headline & Core - less food & energy)
Headline: 0.2%
Core: 0.3%
Worst performing Sector in our portfolio?
Energy
What’s 1 divided by 8?
0.125
1st Sem: Walk me through a DCF (Interview Answer)
- “Values a company on the PV of its Cash Flows and the PV of its Terminal Value”
- Project with assumptions about revenue, expenses, WC
- EBIT, - Tax, =EBIAT
- Add D&A, Less WC changes, CapX - UFCF
- WACC
- TV (2)
- TVPV + FCFPV
- EV - Net Debt = Equity Value, Divide by DCO
Name a deal that closed within the last month: acquirer and acquiree, price (bonus: multiple)
Will google in room tbh
Current 10-Year Yield
4.386 - 4.483%
Cast of MEF Website Walkthrough
- Tori
- Noah
- Trevor
3 cats can catch 3 mice in 3 hours. How many cats are needed to catch 100 mice in 100 hours?
100 cats
B: 1 Rfr: 4.44%
ERM: 9%
Mkt Cap: 12,000
WAIR: 4% Int Exp: $120
Tax: 21%
WACC: 7.70%
Inflationary Environment: 5Guys uses FIFO, McDicks uses LIFO, they report identical Operating Results (EBIT). 5Guys switches to LIFO. Who will report a higher NI going forward?
McDicks
ECB Overnight Rate?
3.25%
MEF Founding Fathers & Year?
Mike Schiraga, Candice Lo, Drew Schwarz
2007
CJ, Mike, Miller, and Ram are trying to cross a bridge. Only two people can cross the bridge at the same time and every trip must have the lone flashlight cross. They have 17 minutes total. CJ can cross in 10 minutes, Mike in 5, Miller in 2, and Ram in 1. How can this be done within 17 Minutes?
1 & 2 cross = 2
1 return = 3
5 & 10 = 13
2 return = 15
1 & 2 = 17
Par: 100
Coup: 6%
Rate: 15%
10y bond
PV Coupons: 30.5835
PV Bond:23.5413
=54.13
What is the formula for additional paid in capital?
Old APIC + Stock Based Compensation + Value of stock created by Option Exercises.
(The value of new stock created when employees exercise their options).
Name 3 Fed Board Members
1. JP
2. Philip Jeff
3. Mike Barr
4. Mich Bowman
5. Lisa Cook
6. Adriana Kug
7. Chris Waller
Leadership Team & Role (2019-2022)
2022
- PDil; PM
- Veda; Chair
- Yesha; DoR
- Tori; Pres
2021
- Trev; Pres
- Daddio; Chair
- Isaac; PM
2020
- Nast; Chair
- Aik; PM
2019
- Dan; Chair
- Edden; Pres
- Goetz; PM
There is a magical waffle in a storage locker. Every minute, each waffle undergoes mitosis and turns into two waffles, at the end of an hour the storage locker is full,at what minute is the locker 25% full.
58th minute = ¼
59th = ½
60th = 1
EBITDA: 40M, EV/EBITDA: 5x, Cash: $10M, Senior Secured Debt: $150M
Unsecured Debt: $100M Where would the unsecured debt trade in pure recovery?
60%
EV: 200M
Total for Recovery: 210M
- 150M = 60M
60M/100M = .6
What is JP Brennans middle name.
David
Data being released tomorrow?
U.S. retail sales, import prices, export prices, industrial production, manufacturing & trade inventories,
Name 4 MEF placement that no longer exist
SVB, Credit Suisse, Piper Jaffray, Miller Buckfire, Columbia Management
What is FCF Yield?
= FCF/Share / Mkt Cap/Share
If a company has negative WC, and you value it on EV - is it over or understated.
EV-based valuation may not fully reflect the value generated by the company's working capital dynamics, leading to an understatement of its true value