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are investment banks needed at all?

Not a financemo but They just seem like a nonessential middl...
spruce appetizing preventive strike
  10/27/18
who else would underwrite capital offerings? sounds like you...
Exciting address factory reset button
  10/27/18
I'm not buying it. And show a little fucking respect, maybe ...
spruce appetizing preventive strike
  10/31/18
...
Massive Titillating Digit Ratio Gas Station
  10/31/18
...
Splenetic community account goal in life
  10/31/18
...
trip vengeful range ceo
  10/31/18
We need to save naive grandmother-type F500 execs from getti...
cerebral kitchen
  11/01/18
Why do they need underwriters? There's this trustless thing ...
Tripping nursing home
  10/31/18
...
Tripping nursing home
  10/31/18
What exactly do you think underwriters do and how would that...
stimulating national idea he suggested
  11/01/18
cr. my thoughts exactly
vibrant trust fund bbw
  11/01/18
LOL
high-end ticket booth
  11/01/18
Good, this way you'll never see it coming
Tripping nursing home
  11/01/18
When moon.
Dark Medicated Indian Lodge
  11/01/18
In most ways investment banks behave just like car dealershi...
cerebral kitchen
  10/27/18
Best layman description in this thread.
Henna state halford
  10/31/18
(literally LTM)
Splenetic community account goal in life
  10/31/18
theyre called gas chambers
lemon confused tank crackhouse
  11/01/18
...
carmine water buffalo pervert
  11/01/18
for vanilla M&A or bond/equity deals, investment banks' ...
learning disabled step-uncle's house windowlicker
  10/27/18
this makes sense. so how much could we shave off of the enti...
spruce appetizing preventive strike
  10/31/18
most of it. a lot of F500s (esp. F10s, etc.) now have their ...
learning disabled step-uncle's house windowlicker
  10/31/18
*jjc detector goes off*
fiercely-loyal crusty theatre volcanic crater
  10/31/18
...
Dashing Citrine Rehab
  10/31/18
there's a nice legal framework built up that mandates their ...
Buff impertinent dopamine theater
  10/31/18
...
Dashing Citrine Rehab
  10/31/18
They have a lock-down on the M&A advisory and syndicatio...
poppy mewling masturbator
  10/31/18
astonishingly AZN poast
swollen nudist lay
  10/31/18
Lol OK. I guess we all live in a world where GCs of F500s...
poppy mewling masturbator
  10/31/18
rook. risten...
fiercely-loyal crusty theatre volcanic crater
  10/31/18
Hm extremely Asian poast again
Splenetic community account goal in life
  10/31/18
Xoxo 2018: Having to explain basic shit like specialization ...
poppy mewling masturbator
  11/01/18
(Guy who still doesn’t get why his poast is so asian)
stimulating national idea he suggested
  11/01/18
xoxo 2018: "yer poast sounds asian" is the default...
poppy mewling masturbator
  11/01/18
sup NYUUG. friendly reminder to the board that i am talki...
lemon confused tank crackhouse
  11/01/18
it's true that corps need to hire outside experts bc it's no...
Cracking stage fat ankles
  11/20/18
What's to stop this company from growing cash reserves throu...
Pearly House
  11/01/18
Private investment = issuing some form of equity or debt = s...
poppy mewling masturbator
  11/02/18
Pretty sure they all belong in gas chambers.
carmine water buffalo pervert
  11/01/18
for like 0.002% of shit
excitant frum bawdyhouse psychic
  11/01/18
Just have Jan from human resources structure the new secured...
Passionate trailer park
  11/01/18
Most of the people who post on xoxo these days either never ...
poppy mewling masturbator
  11/01/18
(guy desperate to make everyone believe that artificial conv...
Tripping nursing home
  11/01/18
...
carmine water buffalo pervert
  11/01/18
Go back to Tulane, you're done here.
poppy mewling masturbator
  11/02/18
(Xiuxiong "Frank" Chen)
opaque milk
  11/01/18
(Tulane grad working in a solo practice yet poasting on xoxo...
poppy mewling masturbator
  11/02/18
...
Dashing Citrine Rehab
  11/02/18
I agree with this take. It's true that it's not rocket sc...
Multi-colored orchestra pit
  11/01/18
For as long as investors have more money than they have idea...
Multi-colored orchestra pit
  11/01/18
one of the first deals i ever worked on involved selling the...
Cracking stage fat ankles
  11/20/18
...
Unhinged harsh ratface
  11/20/18


Poast new message in this thread



Reply Favorite

Date: October 27th, 2018 9:13 PM
Author: spruce appetizing preventive strike

Not a financemo but They just seem like a nonessential middleman “advising” and collecting “fees” to me (kinda like some other profession I know).

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37108845)



Reply Favorite

Date: October 27th, 2018 9:20 PM
Author: Exciting address factory reset button

who else would underwrite capital offerings? sounds like your not just "not a financemo" but also perhaps a retard.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37108880)



Reply Favorite

Date: October 31st, 2018 10:11 AM
Author: spruce appetizing preventive strike

I'm not buying it. And show a little fucking respect, maybe if you poast better I'll let you have a moniker (seriously, why the fuck dont you have a moniker?). Anyways, "underwrite capital offerings" I mean come on man. do we really need a million bankers soaking up insane amounts of rent to "underwrite capital offerings" fuck man,do you really believe this? Could we maybe get by just fine with say 10% of this entire industry?



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131330)



Reply Favorite

Date: October 31st, 2018 10:14 AM
Author: Massive Titillating Digit Ratio Gas Station



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131351)



Reply Favorite

Date: October 31st, 2018 10:21 AM
Author: Splenetic community account goal in life



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131392)



Reply Favorite

Date: October 31st, 2018 10:24 AM
Author: trip vengeful range ceo



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131410)



Reply Favorite

Date: November 1st, 2018 12:26 AM
Author: cerebral kitchen

We need to save naive grandmother-type F500 execs from getting exploited by hand-rubbing chad i-bankers in an openly competitive marketplace? I'm not seeing the problem with their services besides people believe they make too much money and don't really understand how or why so they assume they need to be shut down. If someone can come up with an alternative service that is cheaper and same or superior quality they will instantly win the marketplace.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136306)



Reply Favorite

Date: October 31st, 2018 11:03 AM
Author: Tripping nursing home

Why do they need underwriters? There's this trustless thing called blockchain and smart contracts

Ethereum's biggest potential use case is open finance, it's happening

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131619)



Reply Favorite

Date: October 31st, 2018 1:44 PM
Author: Tripping nursing home



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37132556)



Reply Favorite

Date: November 1st, 2018 12:17 AM
Author: stimulating national idea he suggested

What exactly do you think underwriters do and how would that be replaced by blockchain?

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136263)



Reply Favorite

Date: November 1st, 2018 12:20 AM
Author: vibrant trust fund bbw

cr. my thoughts exactly

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136280)



Reply Favorite

Date: November 1st, 2018 11:13 AM
Author: high-end ticket booth

LOL

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138241)



Reply Favorite

Date: November 1st, 2018 1:02 PM
Author: Tripping nursing home

Good, this way you'll never see it coming

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138822)



Reply Favorite

Date: November 1st, 2018 1:03 PM
Author: Dark Medicated Indian Lodge

When moon.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138830)



Reply Favorite

Date: October 27th, 2018 9:23 PM
Author: cerebral kitchen

In most ways investment banks behave just like car dealerships or auction houses or realtors... they connect buyers and sellers of expensive assets and take a not-insubstantial chunk out of the transaction. People have suspected for a long time that there should be a way around these middlemen, but we haven't found it yet.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37108901)



Reply Favorite

Date: October 31st, 2018 10:17 AM
Author: Henna state halford

Best layman description in this thread.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131369)



Reply Favorite

Date: October 31st, 2018 10:22 AM
Author: Splenetic community account goal in life

(literally LTM)

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131397)



Reply Favorite

Date: November 1st, 2018 12:19 AM
Author: lemon confused tank crackhouse

theyre called gas chambers

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136273)



Reply Favorite

Date: November 1st, 2018 12:19 AM
Author: carmine water buffalo pervert



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136278)



Reply Favorite

Date: October 27th, 2018 9:24 PM
Author: learning disabled step-uncle's house windowlicker

for vanilla M&A or bond/equity deals, investment banks' 'value add' is usually just providing cheap loans in the past (bulge brackets like citi, baml, etc.) that they leverage to run these sort of deals for the fees

elite boutique banks OTOH actually provide more valuable advice for corporate takeovers and such that birdbrained Chad CEOs cant figure out on their own

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37108902)



Reply Favorite

Date: October 31st, 2018 10:12 AM
Author: spruce appetizing preventive strike

this makes sense. so how much could we shave off of the entire finance industry and still keep the same amount of professional expertise?

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131338)



Reply Favorite

Date: October 31st, 2018 10:48 AM
Author: learning disabled step-uncle's house windowlicker

most of it. a lot of F500s (esp. F10s, etc.) now have their own in house corporate development teams (former bankers) to run most of the valuation analysis that banks provide. they usually get a bank and let them provide their 'advisory analysis' just to access their capital markets services to underwrite new debt/equity they need to buy X company or whatever

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131532)



Reply Favorite

Date: October 31st, 2018 12:28 PM
Author: fiercely-loyal crusty theatre volcanic crater

*jjc detector goes off*

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37132079)



Reply Favorite

Date: October 31st, 2018 10:12 AM
Author: Dashing Citrine Rehab



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131336)



Reply Favorite

Date: October 31st, 2018 11:01 AM
Author: Buff impertinent dopamine theater

there's a nice legal framework built up that mandates their existence because pre-FDR companies were going buckwild selling all sorts of fraud securities to people. but yes as with most fields there is an incredible amount of waste, fraud, and abuse.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131612)



Reply Favorite

Date: October 31st, 2018 12:03 PM
Author: Dashing Citrine Rehab



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37131941)



Reply Favorite

Date: October 31st, 2018 12:25 PM
Author: poppy mewling masturbator

They have a lock-down on the M&A advisory and syndication racket. So yes, they are needed.

Joe Blow from XYZ Inc. in Kansas isn't going to have access to investors, let alone undertake an offering of securities anywhere in compliance with all the different offering restrictions. They have to go through a broker.

M&A it's all about the brokering of deals, and again, bankers use their network to make this work and do valuation. It makes life a lot easier for corporates, but costs a ton in fees.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37132060)



Reply Favorite

Date: October 31st, 2018 12:27 PM
Author: swollen nudist lay

astonishingly AZN poast

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37132076)



Reply Favorite

Date: October 31st, 2018 12:50 PM
Author: poppy mewling masturbator

Lol OK.

I guess we all live in a world where GCs of F500s are stupid dumbasses who enjoy paying out of their asses for pointless inconsequential "service providers" like bankers when they could just do it "in house" at a fraction of the cost.

These corps are paying for IB because they are busy doing shit like making cars or selling GC shit to wagecucks like you, and don't have the time or capability to market to pension funds located halfway around the world who may not even speak English or find a buyer for their shit subsidiary located in OshKosh Oklahoma. It's just the way it is.

The alternative is to hire a whole lot more people which will end up being more expensive in the long run and create a bunch of headaches because you have to do BS training and logistics for these new drones you just hired and pay for their healthcare and shit. Bankers you just use and dump once they've done their job.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37132196)



Reply Favorite

Date: October 31st, 2018 1:11 PM
Author: fiercely-loyal crusty theatre volcanic crater

rook. risten...

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37132338)



Reply Favorite

Date: October 31st, 2018 1:33 PM
Author: Splenetic community account goal in life

Hm extremely Asian poast again

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37132463)



Reply Favorite

Date: November 1st, 2018 12:15 AM
Author: poppy mewling masturbator

Xoxo 2018: Having to explain basic shit like specialization of labor to literal retards.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136251)



Reply Favorite

Date: November 1st, 2018 12:20 AM
Author: stimulating national idea he suggested

(Guy who still doesn’t get why his poast is so asian)

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136282)



Reply Favorite

Date: November 1st, 2018 11:00 AM
Author: poppy mewling masturbator

xoxo 2018: "yer poast sounds asian" is the default insult

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138141)



Reply Favorite

Date: November 1st, 2018 12:20 AM
Author: lemon confused tank crackhouse

sup NYUUG.

friendly reminder to the board that i am talking to myself right now

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136279)



Reply Favorite

Date: November 20th, 2018 2:57 AM
Author: Cracking stage fat ankles

it's true that corps need to hire outside experts bc it's not economical to have the necessary expertise in-house. it's also true that no corp is going to operate its own bond desks. lol at ford or caesar's or something directly selling securities to investors.

otoh IBs are no smarter than anyone else when out of their wheelhouse -- look at how bad they fucked up on CDO valuation and trading, causing ITE. it's reasonable to ask why IBs have such wild comp and fees; presumably you can run an advanced economy without paying howie hubler $25m to lose $9b.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37268539)



Reply Favorite

Date: November 1st, 2018 6:36 PM
Author: Pearly House

What's to stop this company from growing cash reserves through private investment until cash flow positive, then doing a Spotify type direct listing to access the capital markets?

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37140906)



Reply Favorite

Date: November 2nd, 2018 12:04 AM
Author: poppy mewling masturbator

Private investment = issuing some form of equity or debt = securitie = pwnd.

Issuers can't directly access capital markets without an intermediary, unless they want to be directly subject to all sorts of crazy regulations and lawsuits.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37142723)



Reply Favorite

Date: November 1st, 2018 12:18 AM
Author: carmine water buffalo pervert

Pretty sure they all belong in gas chambers.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136269)



Reply Favorite

Date: November 1st, 2018 12:27 AM
Author: excitant frum bawdyhouse psychic

for like 0.002% of shit

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136314)



Reply Favorite

Date: November 1st, 2018 12:28 AM
Author: Passionate trailer park

Just have Jan from human resources structure the new secured airplane leasing offering and draft all the required disclosure documents. She's sharp - I'm sure she'll figure it out if we all pitch in and get her a Dunkin gift card!

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37136317)



Reply Favorite

Date: November 1st, 2018 11:13 AM
Author: poppy mewling masturbator

Most of the people who post on xoxo these days either never went to law school or went to some TTT and never worked biglaw so we have retarded threads like this.

"bbbbut it's just copy and paste!" said the pea brain.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138231)



Reply Favorite

Date: November 1st, 2018 1:03 PM
Author: Tripping nursing home

(guy desperate to make everyone believe that artificial convolution makes him essential)

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138832)



Reply Favorite

Date: November 1st, 2018 1:03 PM
Author: carmine water buffalo pervert



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138834)



Reply Favorite

Date: November 2nd, 2018 12:05 AM
Author: poppy mewling masturbator

Go back to Tulane, you're done here.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37142726)



Reply Favorite

Date: November 1st, 2018 1:10 PM
Author: opaque milk

(Xiuxiong "Frank" Chen)

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138862)



Reply Favorite

Date: November 2nd, 2018 12:05 AM
Author: poppy mewling masturbator

(Tulane grad working in a solo practice yet poasting on xoxo)

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37142731)



Reply Favorite

Date: November 2nd, 2018 2:54 PM
Author: Dashing Citrine Rehab



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37145677)



Reply Favorite

Date: November 1st, 2018 1:17 PM
Author: Multi-colored orchestra pit

I agree with this take.

It's true that it's not rocket science, but the "basic" shit that good bankers can do they can do so fucking fast it will make your head spin.

I suspect the reason many "scholarly" types don't get this is because they don't understand the significant portion of the world that is run by "numbers" people.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138902)



Reply Favorite

Date: November 1st, 2018 1:08 PM
Author: Multi-colored orchestra pit

For as long as investors have more money than they have ideas on how to spend it, there will be men to sell them those ideas.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37138858)



Reply Favorite

Date: November 20th, 2018 3:00 AM
Author: Cracking stage fat ankles

one of the first deals i ever worked on involved selling the residual on an auto ABS deal to PE investors, HFs and a teacher's union in a poor southern state. that's when i learned that some ppl need to make a return, aren't very sophisticated, and will invest in assets they don't understand, not once, but every day for their entire careers. it's a fucked up world.

(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37268544)



Reply Favorite

Date: November 20th, 2018 3:01 AM
Author: Unhinged harsh ratface



(http://www.autoadmit.com/thread.php?thread_id=4116955&forum_id=2#37268547)