Posts Tagged ‘education’

Private Equity Skills

admin | Thursday, September 24th, 2009 | No Comments »

Private Equity Skills

What Skills Students Should Learn for Private Equity

I’ve been traveling for the last three weeks and during the flights I have been going through some white papers that I’d been meaning to read. One particularly interesting paper is by a professor at Stetson University titled “Understanding the Skills Needed for Careers in Private Equity Investing.” The research identifies a major disconnect between general finance education and that needed for investing in private equity.

Although many professionals receive a general business school education and work one or two years at an investment bank or other finance firm, it would be great if an MBA included a more focused study on private equity to prepare graduates for a very unique field. There are signs of a shift toward educating students on private equity is the Tuck School of Business’s Center for Private Equity and Entrepreneurship as well as the University of North Carolina’s Kenan-Flagler Private Equity Fund which is largely run by students. I hope that more research is done to show how students and business schools would benefit from a curriculum with a strong focus on private equity.

It’s crucial that students at least have a basic understanding of how to value companies, structure a deal, complete accurate due diligence, manage a portfolio and negotiate with investors and keep them satisfied. The price for on-the-job training for a venture capitalist could be millions of dollars from your investors, so it’s important to have a curriculum that addresses specific skills necessary for working in private equity. The skills that private equity professionals should have beyond the existing MBA and finance degree curriculum are:

Being able to realistically value businesses in an illiquid start-up context
Contractually structuring the investment
Maintaining an effective personal network to both ensure adequate deal flow, and also assist portfolio companies in securing critical resources
Possess the negotiating skills associated with both purchasing and selling an investment
Be able to coordinating thorough and effective due diligence

If you have not developed these skills or your business school has not addressed these needs, the author prescribes ways to improve these crucial areas:

Do not rely on the “general business requirements” to meet these skills.
Some of these skills are process skills, meaning that they are developed by practice – not merely through understanding the process.
Due diligence is on virtually no one’s curriculum. There are great books available and free resources online to give you at least a surface knowledge of this area.
A course in private equity investing can be demonstrated to accomplish the purposes of the business capstone class, and might be offered in lieu of Strategic Management, for example.

To read the full white paper, see here.

See our private equity career guide for more information on what you need to succeed in private equity

Ethical Behaviour: Most Significant Risks and Costs of Unethical Behavior in Business

admin | Sunday, August 2nd, 2009 | No Comments »

“The government is requiring more and more businesses to comply with on-going education and yet we see that amongst these tests are tests in every industry on ethics. One might ask what the government knows about ethics, yet this is not the topic that came up in discussion recently in our think tank, instead we discussed that on these ongoing education tests on ethics it is impossible to get 100% correct, because one question is always impossible to get right, there is No right answer?

Well it there is no right answer and the test indicates there is then there is a problem with Trickery questions and is that really ethical? No of course not. It is nearly impossible to understand all the verbose rules and regulations, ambiguous definitions and intent of the laws sometimes, and all this is a clear sign of over regulation, over regulation is unethical, because it is like saying there is a problem in an industry that does not actually exist.

Even if you know the Letter of the law, over time the case Law is inconsistent with any sort of real ethics. Regulations are most often used as tools, like the regulators who write the legislation in order to attack a competitor in the market place. Of course, once attacked from a government agency, no matter why or who instituted the investigation, fine or finding; it costs hundreds of thousands of dollars to defend and slows the progress of the company in question in the market place.

Thus most of our regulations are not made to help consumers, rather they are made so one business can get the upper hand of another. One has to ask why the government takes sides and why the government cannot practice what it preaches with regards to ethics or listen to the warnings of Adam Smith. So, if we really wish to discuss ethics, it is time to clean up the government’s hand in it, from the on-going education tests to the actual market place extortion. Think on this.

“”Lance Winslow” – Online ThinkTank forum board. If you have innovative thoughts and unique perspectives, come think with Lance. Lance is an online writer in retirement.

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Tags: unethical, ethics, question, government, education

Tags: Business, education, Ethics, government, question, unethical
Posted in Business

Raife Neuman of Bonner & Partners Family Office

admin | Wednesday, July 8th, 2009 | No Comments »

Raife Neuman of Bonner & Partners

Below is some commentary on the US educational system from Raife Neuman of Bonner & Partners Family Office:

Raife Neuman, of Bonner & Partners Family office, continues his campaign on the injustices of the American education system.

As we all know, often the better you do the more the government wants to penalize your success. Families and college students often pay exorbitant costs for education. And, as I wrote last week, students who go on to get a professional degree are often saddled with loads of debt – creating a new class of indentured servants. You’d think the IRS could cut them a bit of a break. But you’d be wrong.The tax code says “all or part” of a scholarship or fellowship “may be tax free.” The emphasis should be on “may” because you have to meet these strict conditions to avoid taxes Read more..,

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Posted in Business

Lack of Ethics and Integrity and lack of Education and Training

admin | Monday, July 6th, 2009 | No Comments »

There is a lot being written about these days regarding the “”fall-out”" in the mortgage industry, specifically in the subprime arena.

Quite a bit of commentary as to the effects and affects of the related markets. I think that the answer to the question “”What happened?”" is a lot more simple than analysis of various economic indicators. Greed is what happened. That is the one word answer to which everything ultimately boils down. However, I know that I need to qualify that broad brush stroke with some evidence and specifics.

I am sure that one could argue that there are a number of facets involved in the so-called, collapse of the subprime market. As a brief aside, the subprime market has not in any way collapsed. However, there are several companies within the subprime arena that have indeed collapsed. At any rate, I think Paretto’s Principle applies here as it so often does in most situations. The fact is that at least 80% of the problem had to do with Greed, Irresponsibility, Lack of Ethics and Integrity and lack of Education and Training.

What happened? Loan officers around the country knowingly put borrowers in harm’s way. Loan officers helped scheme and package so called “”stated”" loans where income verification was waived allowing loan officers to inflate income on the application to keep the balance of debt to income (or DTI ratio as it is known in the business) within underwriting guidelines.

In plain English? Loan officers were involved in lying about how much money a borrower really made so they could be approved for a home loan. Reminder: A loan, that if the underwriters actually knew what the income was….would decline the loan! Here is the real problem, by the way. It’s not the poor lender, who ultimately was lied to….it is the borrower, who with the help of or
at the advice of…got a loan that greatly exceeded their ability to repay. They were doomed the minute they signed the application.

In many cases the loan officer knew that there was no way that this borrower or this family would ever really “”survive”" the loan…but hey, the borrower wanted it….so they got it! So integrity and ethics were
sacrificed for the commission from a loan that likely will be the stranglehold that chokes the life out of the family’s finances. In some instances the loan officer just didn’t know any better. That simply
attests to the lack of training so many in our business get. Can you imagine? It is estimated that as many as 78% of all of the loan officers in the business today, has less than 3 years experience!

This is not so much a Subprime issue as it is a “”Stated Loan”" issue. Certainly, the fact that these borrowers credit suggested that they already struggled financially (and that…by the way is really what bad
credit means for most people….that at some point, or currently, they struggle to pay all the bills on time…or at all.) certainly adds fuel to the fire. But it is important to distinguish what the problem really
was or is in order to avoid making the same mistake again…but furthermore not to tarnish the subprime borrower or lender for the wrong reasons. The problem lays much less with FICO score for most of these defaulting loans than it does with generous DTI (debt to income) guidelines or low or “”no-doc”" income or asset documentation. Some of these loans allowed for the stated DTI to be as high as 60 or 65%. This means that even if the income on the application was legit…and was not inflated (as so many were)….that 65% of the GROSS INCOME was being devoted to the housing payment!! If the income was indeed inflated then many of these loans were extended to people that were likely carrying debt to income ratios more like 70-80%. You do not have to be a Certified Financial Planner to know that you cannot possibly dedicate three quarters of your GROSS income to just your mortgage.

The fact that seems to be forgotten somewhere along the line is that the reason that there is an application in the first place is not to say “”yes”" but rather to say “”no”" when someone does not meet the guidelines that protect BOTH parties.

As experts it is responsibility of the loan officer to advise people what they can and cannot afford…NOT to simply be a conduit to approvals for debt hungry borrowers. Loan officers that can see the forest through the trees recognize that by helping their clients stay solvent in the long run they keep a client for life. For if they ultimately lose their home, they are of no use to that loan officer anymore.

The mortgage industry presents one of the most wonderful opportunities in the professional world today: An opportunity to serve, to help and to profit. For those who forgot about the first two, shall know what it is like to do without the third.

Born in Montreal Canada, raised in New Jersey and a graduate of Rutgers University, Stefan Lubinski is a nationally known trainer, speaker and consultant in the residential mortgage industry.

Prior to becoming a Professional Speaker Stefan’s diverse professional background included: Restaurant Management, Executive Recruiting, Corporate Sales & Marketing and Residential Real Estate Finance.

His unique combination of humor, “”hands-on”" industry knowledge, and ability to make complex ideas simple to understand put him in a class of his own!

Stefan is a proud member of the National Association of Mortgage Brokers, the Association of Coaching and Consulting Professionals on the Web, and The National Speakers Association. He is also a certified Mortgage Planning Specialist.

Stefan lives with his wife Shelley and his son Carter (his four dogs and one horse) in Pleasanton, California. Although, most of the time, you will find him in the training rooms of some of the best companies across the country.

Visit his website here.

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Tags: education, training, ethical, integrity, course

Tags: Business, course, education, ethical, integrity, Training
Posted in Business

CFA Study Guide Materials – Exclusive Advice & Notes

admin | Monday, September 22nd, 2008 | No Comments »

CFA Study Guide

CFA Study Guide – Exclusive Notes

I have been receiving dozens of emails regarding the Chartered Financial Analyst (CFA), Certified Hedge Fund Professional (CHP), and Chartered Alternative Investment Analyst (CAIA) designations so I’ve had a guest blogger put together this one page CFA study guide for those looking for straight and simple answers on this topic. Hope this helps:
____________________________________

The CFA institute does not specifically provide a CFA Study Guide; the study information for each exam of the CFA, including study sessions, assigned readings, and practice problems, are included in the program curriculum. The CFA also provides additional study materials for the candidate.

The study material for each level of the CFA exam comes from the Candidate Book of Knowledge (CBOK). The CBOK’s content comes from real world practice; thousands of current CFA professionals weigh in on the skills needed to succeed within the investment world. The surveys the CFA collects from these charter holders provide the framework for the study material and for the exams.

The curriculum for the study material for each level of the CFA exam is divided in multiple sections. Each section will contain assigned readings drawn from textbooks, journals, cases, and analyst reports. Learning Outcome Statements (LOS) are also another section of the study material for each level of the exam. A LOS is a description of knowledge, skills, and abilities (KSA) that each candidate should master before taking the CFA examination.

The main purpose of not having a CFA Study Guide is to teach each CFA candidate that the value of the test lies in its application to real world scenarios. The CBOK is drawn from surveys of charter holders to determine the knowledge, skill sets, and abilities, which are most relevant to the profession. These surveys also help determine what the appropriate weighting for each topic on the examination should be. A committee of practicing charter holders along with the CFA institute designs the curriculum for each level of the exam. The exams themselves are also written by charter holders, which further emphasizes the amount of study time that should be devoted to the practical application of the knowledge learned from the assigned readings and LOS’s.

The CFA does provide candidates with various tools to help their course of study for the examinations. These tools include sample questions, CBOK topic outlines, exam topic area weights, and the curriculum itself. Within the Curriculum, there are the learning outcome statements as well as sample and mock exams. For a more traditional CFA study guide, a candidate can use an outside study source such as Kaplan or Schweser, which will provide a more traditional approach to preparing for the examinations.

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Posted in Business

Public Relations Programs: 7 Things To Have a Great Press Release

admin | Tuesday, June 24th, 2008 | No Comments »

Here’s the dilemma: you want to advertise your business. You know that the key to effective advertising is repetition. The kind of repetition it takes to get results you can measure by increased sales requires a minimum of four figures in the advertising column of your budget. The cold, hard truth is that your advertising budget just barely squeaks past the three-figure threshold. Before you head for Main Street draped in despair and a sandwich board emblazoned with your web address, read on.

Here are the facts: advertising is expensive, often difficult to track, largely ineffective (excluding a few highly targeted methods), and a necessary part of any marketing budget. So how do small business owners with baby budgets get the most bang for their advertising buck?

The secret to maximizing your advertising dollars is in learning how to write an irresistible press release. A well written release, coupled with a few carefully sprinkled advertising dollars spent in well targeted locations, will go a long way towards increasing the chances of your press release earning space.

You want maximum exposure with minimum investment and editors want content their readers will enjoy and find useful. If you learn to master the art of writing a press release that is educational, informative, inspiring and grammatically correct, you will enjoy seeing yourself promoted in print, time and time again.

Here’s the recipe for cooking up a stellar press release:

1. Make sure it doesn’t read like a thinly veiled advertisement! The slightest hint of a sales pitch in the text will earn your document a speedy, non stop flight to the trash.

2. Start with the meat of the matter. Your opening paragraph should deliver the five “W”s: who, what, when, where, why.

3. The next paragraph should elaborate on the first, offering a few juicy details designed to entice the reader to want to know more.

4. If the topic includes reference to an expert of some sort, offer some compelling biographical information about that person next.

5. If you really want to dazzle, add a journalistic feel by including a quote, as though the document were the result of an interview. For example, “We are delighted to have such an accomplished speaker for our event,” reports Executive Director Lisa Almeida.

6. The big finish. Wrap up with a quick review of the details and a name, number or web site for further information.

7. Before sending it off, be sure to take the time to find out the submission preferences of each publication or posting site. You’ll want to know the proper individual or department to submit to along with preferred method of submission; fax, email, PDF, Word document etc. as well as desired lead time and deadlines.

Don’t be discouraged if your first attempts don’t make it into print. If you are diligent about following submission rules and you keep honing your content and structure, you’ll eventually find the sweet spot. And how sweet it is when you see your business being promoted and you know it won’t be followed by an invoice!

Lisa Almeida is a small business Results Technician and owner of Planit Production. She helps small business owners get from where they are, to where they want to be. If you are in the market for strategies that can deliver the profit you need to get the results you want then visit here today. Because success doesn’t just happen, you have to planit! Are you ready to planit?

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Tags: public, relations, program, services, education

Tags: Business, education, program, public, relations, services
Posted in Business

Online Educational Systems Public Relations

admin | Thursday, January 24th, 2008 | No Comments »

Traditional public relations and community goodwill efforts for online education assistance is somewhat difficult because the online educational system helps those that participate in the virtual world as opposed to an educational facility. This fact should not deter a public relations specialist who works on online educational programs or systems because they need to contact those people who are not online and perhaps might like to look at online education systems as another option.

Many people cannot attend class due to transportation issues or human mobility issues. Many folks are stay-at-home parents and they cannot attend class either, but a need to get an online degree or participate in an online education system to get the skills they need to earn a living.

What types of ways can you promote an online educational system? Of course the best way is through word-of-mouth advertising. However, it is not always so easy to get to those people who are in their homes all day and sometimes it makes sense to use public service announcements on the radio or a little radio advertising. Other times direct mail can work.

The best thing is a front-page article in the newspaper of the success story of someone who used the online educational system to get an advanced degree or a good job. It is these sorts of public relations and publicity programs that make online educational systems more newsworthy. Perhaps you will consider some of this in 2006.

“Lance Winslow” – Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance’s Web. Lance is an online writer in retirement.

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Tags: online, public relations, systems, education, program

Tags: education, online, program, Public Relations, systems
Posted in Public Relations

Public Relations for Ongoing Education Courses

admin | Wednesday, January 16th, 2008 | No Comments »

Ongoing education courses are required in most industries, which have licenses or in those industries where the government supervises the industry somehow. Some of these rules, laws and regulations are put into effect to help the consumer, investor, patient or the homeowner. Each person who is in the industry must go to ongoing education classes to show that they are competent and follow the rules of the industry.

Sometimes this works and sometimes it just slows down the industry and naturally ends up hurting the investor, consumer, homeowner or patient. It often adds costs to those who buy the services or products of that industry and that is truly unfortunate. Worse off for ongoing education courses and companies that offer that service most of the people in the industry hate them.

They know that they are necessary but they hate the ongoing education courses, mostly because they are mandatory and have nothing to do with the actual ongoing nature of the business or industry they are in. With all this said how can an ongoing education course or company that offers such services participate in positive public relations and industry goodwill programs in order to attract those participants in the industry to buy their ongoing education services to get the required credit to continue their profession?

It is not easy but one way is to hold free seminars or Tele seminars and give some of the education away for free in advance in hopes of signing up students. Please consider all this in 2006.

“Lance Winslow” – Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance. Lance is an online writer in retirement.

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Tags: public relations, education, company, course, service

Tags: education, Public Relations, service
Posted in Public Relations

Public Relations for Education Establishments: Child Learning Centers

admin | Thursday, January 10th, 2008 | No Comments »

Child learning centers are very important and they can supplement our school system and education system. Sometimes school districts and teachers unions get upset with Child learning centers, while other teachers often recommend them to help students whose parents want them to excel faster than the student is able in the regular classroom.

Child learning centers need to promote themselves and find unique ways to attract publicity and get into the news. When other people read about this they will want to bring their children to the child learning centers also and that creates word-of-mouth advertising and it makes kids smarter.

Smarter children means smarter adults and that is great for our society and civilization. But, public relations and community goodwill for Child learning centers is not in easy thing to market. Sometimes it takes a little extra besides just advertising and marketing to promote a child learning Center.

It is recommended that all child learning centers hire a publicist or a public relations company to help them stay in the news and promote community goodwill. Child Learning Centers should have open houses and also allow other nonprofit groups to use their facilities for things like silent auctions and this brings more people to tour the child learning center and perhaps learn more about it. Please be thinking on all of this in 2006.

“Lance Winslow” – Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance. Lance is an online writer in retirement.

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Tags: child, learning, center, education, public relations

Tags: education, learning, Public Relations
Posted in Public Relations

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Posts Tagged ‘education’