Venture Capital Masterclass
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Your Complete Guide to Navigating Venture Capital in the Real World
This job-focused training program teaches what firms look for, how to network effectively, how to interact with founders, and how to position your experience to stand out in a competitive recruiting environment.
Learn Directly From VC Practitioners
This course is designed for those pursuing a career in venture capital as well as founders and operators who want to understand how VC investors evaluate opportunities. You will learn how venture capitalists develop investment theses, assess markets, meet founders, and evaluate companies with the same investment frameworks used at top-tier firms.
Hands-On Training Across the Full VC Deal Process
You will learn through practical exercises in sourcing, due diligence, financial modeling, cap table analysis, and term sheet evaluation. Work through case studies including Uber’s fundraising history to understand how great companies are financed and how top firms like Sequoia, Benchmark, a16z, and Tiger Global make investment decisions.
Master VC Fund Strategy and Exit Outcomes
Understand the venture capital business model, how funds are structured, and how returns are measured using metrics like IRR, MOIC, TVPI, DPI, and RVPI. Learn how investors support companies after the deal through board involvement and governance, and how exits are structured across M&A and IPO scenarios.
Who Should Take This Course?
- Aspiring & Incoming VC Analysts
- VC Associates & Investors
- Entrepreneurs
- Start-up Employees & Execs
- MBAs & Business Undergrads
What You Will Learn
How Venture Capitalists Build Investment Conviction
Understand how professional investors form a differentiated point of view on markets and identify opportunities capable of venture-scale returns.
- Evaluating market structure, growth vectors and secular tailwinds
- Calculating TAM, SAM, and SOM using both top-down and bottom-up approaches, including the limitations of TAM as a predictive tool in venture capital
- Identifying compounding engines of value creation and early signals of breakout potential versus false positives
Founder Evaluation and Investor Alignment
Learn how top investors assess founders and early company quality when traditional financial data is insufficient.
- Founder-market fit and behavioral indicators of exceptional operators
- Aligning incentives between founders and investors to reduce long-term agency risk
Deal Sourcing and Proprietary Access
Study how elite investors create advantaged deal flow and secure allocations ahead of the broader market.
- Developing proprietary sourcing engines through outbound outreach, founder references and utilizing your network
- Building a high value network in a market known for its “co-opetition”
Deal Structuring and Term Sheet Economics
Learn how investment teams structure investments to align incentives and limit their downside risk throughout the full financing lifecycle.
- Modeling and managing cap tables to evaluate unpriced rounds (SAFEs and Convertible Notes) and priced rounds (Seed, Series A, Series B, etc.)
- Creating and analyzing term sheets - know the impact of liquidation preferences, participation rights, anti-dilution mechanics, and control provisions on your investments
Portfolio Support, Governance, and Outcome Management
Understand the responsibilities of investors post-investment and the mechanisms that drive value creation across a portfolio.
- Board management, corporate governance, and conflict resolution between investors and founders
- Operational value creation models and post-investment support structures
Fund Strategy, Portfolio Construction, and Return Distribution
Gain a sophisticated understanding of the “business of venture capital,” including how venture fund strategy shapes investment behavior and long-term performance.
- The VC fund legal structure, capital calls, co-investment strategy, and LP expectations
- Measuring fund performance through IRR, MOIC, TVPI, DPI, RVPI, and the power law distribution that drives portfolio construction decisions
Breaking Into Venture Capital
Develop a practical strategy for entering and succeeding within a competitive industry environment.
- Building credibility, developing a differentiated voice, and demonstrating proprietary insight
- Networking strategies that create real access to firms, founders, and LPs
- Preparing for interviews through thesis presentation, market analysis, and investment case articulation
This is the same training program Wall Street Prep delivers in-house to investment professionals at growth equity, private equity, and technology-focused investment firms evaluating venture-backed companies
Get the Venture Capital Masterclass Certification
VC Masterclass learners are eligible to earn Wall Street Prep's globally recognized Venture Capital Masterclass Certification. The certification is earned by successfully completing the final exam from each of the program's 7 courses. These online assessments can be taken any time after enrollment in the program.
What's Included
ERC©ERC© 1: Equity Research Process
Module 1 of the Sell-side Equity Research Certification (ERC©) provides an overview of the equity re ...
Course TOC
ERC© 1: Equity Research Process
Module 1 of the Sell-side Equity Research Certification (ERC©) provides an overview of the equity research business and career. Students will learn how research fits into the investment banking industry, what a typical day for the equity researcher looks like, the coverage and initiation processes, ...
Module 1 of the Sell-side Equity Research Certification (ERC©) provides an overview of the equity research business and career. Students will learn how research fits into the investment banking industry, what a typical day for the equity researcher looks like, the coverage and initiation processes, among many other things
1. Instructor Introduction and Overview
8:55
2. Introduction to Equity Research
7:28
3. Course Downloads
Files
4. Sell-Side vs. Buy-Side Equity Research
4:51
5. How Sell-Side Research Adds Value
4:15
6. Hierarchy in Sell-Side Equity Research
7:22
7. Equity Research Associate Career Snapshot
2:43
8. A Day in the Life of an Equity Research Associate
5:18
9. Sectors and Coverage Universes
8:18
10. Choosing the Companies to Cover
3:45
11. Why the Earnings Cycle Matters
2:47
12. US Earnings Season Calendar
7:49
13. Pre-and Post-Earnings Process, Step by Step
11:27
ERC© 2: Financial Statement Analysis
Module 2 of the Sell-side Equity Research Certification (ERC©) dives deep into how to analyze the th ...
Course TOC
ERC© 2: Financial Statement Analysis
Module 2 of the Sell-side Equity Research Certification (ERC©) dives deep into how to analyze the three key financial statements. Here, we’ll learn about key metrics and ratios that can provide insights into how a company is performing, as well as how the financial statements connect to each other t ...
Module 2 of the Sell-side Equity Research Certification (ERC©) dives deep into how to analyze the three key financial statements. Here, we’ll learn about key metrics and ratios that can provide insights into how a company is performing, as well as how the financial statements connect to each other to provide a holistic view of the company’s financial position
1. Financial Statement Analysis Introduction
3:45
2. Course Downloads
Files
3. Income Statement Walk-Through
12:44
4. P&L Analysis Case Study Apple (Part 1)
9:43
5. P&L Analysis Case Study Apple (Part 2)
10:04
6. Income Statement Drivers Revenues to Opex
10:55
7. Income Statement Drivers Operating Profit to EPS
7:48
8. P&L Drivers Case Study Apple
10:36
9. How Ratios Should (and Shouldn’t) Be Used
3:52
10. Key Income Statement Ratios
3:19
11. Pitfalls Be Cautious Interpreting Ratios
3:46
12. Key Income Statement Ratios ROIC
3:14
13. ROIC Practice Exercise
6:37
14. ROIC Practice Exercise Solution
3:31
15. ROIC Practice Exercise Analytics
6:18
16. P&L Ratios Case Study Apple vs. Key Peers Exercise
2:48
17. ROE and ROIC Analytics Apple vs. Key Peers
8:29
18. ROA and ROS Analytics Apple vs. Key Peers
5:56
19. What Is the Balance Sheet
4:48
20. Balance Sheet Current and Long-Term Assets
4:38
21. Balance Sheet Liabilities and Equity
3:05
22. Case Study Apple’s Balance Sheet
11:07
23. Balance Sheet Drivers
11:24
24. Key Balance Sheet Ratios
1:47
25. Balance Sheet Ratios Case Study Apple vs. Key Peers Exercise
1:16
26. Debt-to-Asset, DSO and DPO Analytics Apple vs. Key Peers
5:32
27. Inventory Turnover and Current Ratio Analytics- Apple vs. Key Peers
2:45
28. Net Operating Cycle Apple vs. Key Peers
5:05
29. What Is the Cash Flow Statement
5:15
30. Cash Flow Statement Cash from Operations (CFOA)
2:49
31. CFOA Working Capital
4:08
32. Cash Flow Statement Cash from Investing and Financing
2:36
33. Case Study Apple’s Cash Flow Statement
6:44
34. Key Cash Flow Statement Metrics
2:19
35. Cash Flow Metrics Case Study Apple vs. Key Peers Exercise
1:00
36. Cash Flow Analytics Apple vs. Key Peers
6:01
37. ROE Application DuPont Analysis
4:13
38. DuPont Analysis Apple vs. Key Peers
5:18
ERC© 3: Thesis and Due Diligence
Module 3 of the Sell-side Equity Research Certification (ERC©) addresses one of the most important r ...
Course TOC
ERC© 3: Thesis and Due Diligence
Module 3 of the Sell-side Equity Research Certification (ERC©) addresses one of the most important responsibilities of an equity researcher: building an investment thesis from the ground up. Students will learn about the pillars of a strong thesis and how to navigate the whole process that ranges fr ...
Module 3 of the Sell-side Equity Research Certification (ERC©) addresses one of the most important responsibilities of an equity researcher: building an investment thesis from the ground up. Students will learn about the pillars of a strong thesis and how to navigate the whole process that ranges from learning about the business fundamentals to having a differentiated view on the stock.
1. Investment Thesis Introduction
9:05
2. Core Elements of the Thesis Results x Valuation
9:11
3. Course Downloads
Files
4. Key Drivers of Variant Financial Results
15:53
5. How the Market Values Financial Results
8:33
6. Key Valuation Expansion Drivers
6:04
7. Valuation Contraction and Expansion Apple and Tesla Cases
9:18
8. The Role of Growth in Value Perception
6:27
9. The Process of Building a Thesis
4:59
10. Critical Business Factors
6:27
11. Building a Thesis from the Bottom Up 4 Key Steps
3:03
12. Step 1 Understanding The Fundamentals of a Company
7:38
13. Step 2 Identifying the Hot Topics
5:41
14. Step 3 Visualizing the Business Opportunities
2:27
15. Step 3 Competitive Advantages
11:53
16. Step 4 What the Market Is Missing
6:46
17. Step 4 Meetings and Conferences
0:58
18. Step 4 Third-Party Research
6:19
19. Step 4 Proprietary Research
5:51
20. Macroeconomic Considerations Introduction
2:16
21. Economic Framework The 3 Cycles
8:23
22. Short-Term Cycle Key Metrics and Indicators
2:34
23. Macroeconomic Impact on the Thesis
2:51
24. Macroeconomic Considerations Sector Sensitivity
6:04
25. Macroeconomic Considerations Other Sensitivities
3:44
26. Catalysts Introduction
2:16
27. Examples of Catalysts Earnings to M&A
5:54
28. More Examples of Catalysts Management Teams to the Economy
5:32
29. In Summary Investment Thesis Quality
3:48
30. Investment Thesis vs. Efficient Markets
8:09
ERC© 4: Writing Research Reports
Module 4 of the Sell-side Equity Research Certification (ERC©) begins by exploring the types of rese ...
Course TOC
ERC© 4: Writing Research Reports
Module 4 of the Sell-side Equity Research Certification (ERC©) begins by exploring the types of research reports and how they fit into the earnings cycle. We’ll look closely at the anatomy of a report, identifying key sections and their purposes using real-life examples. Students will learn about wr ...
Module 4 of the Sell-side Equity Research Certification (ERC©) begins by exploring the types of research reports and how they fit into the earnings cycle. We’ll look closely at the anatomy of a report, identifying key sections and their purposes using real-life examples. Students will learn about writing best practices and be ready to build their own report from scratch. Finally, we discuss the editorial process and stock pitching.
1. Research Reports Introduction
2:27
2. Course Downloads
Files
3. The Anatomy of a Research Report
9:26
4. Types of Equity Research Reports
4:30
5. Reports and the Research Cycle
5:28
6. The Key Components of a Research Report
2:55
7. Apple Earnings Review Case Study Introduction
3:22
8. RBC’s Earnings Review Report on AAPL, Page 1
8:18
9. RBC’s Earnings Review Report on AAPL, Page 2
4:40
10. RBC’s Earnings Review Report on AAPL, Closing Sections
5:46
11. DA Davidson’s Earnings Review Report on AAPL, Pages 1 and 2
6:08
12. DA Davidson’s Earnings Review Report on AAPL, Closing Sections
4:04
13. Wedbush’s Flash Note on TSLA
8:26
14. Writing Best Practices Introduction
2:28
15. Writing Must Do #1- Outline
1:34
16. Writing Must Do #2 Don’t Overwrite
2:58
17. Writing Must Do #3 Vary Sentence Length
2:32
18. Writing Must Do #4 Understand the Audience
3:59
19. Writing Must Do #5 Rewrite and Edit
4:34
20. Research Reports Message Structure
3:41
21. Research Reports 3 Main Sessions
6:37
22. Research Reports Scope
1:23
23. Research Reports Language Quirks
8:11
24. Writing Case Study Upgrade Report, Page 1
10:46
25. Writing Case Study Upgrade Report, Other Pages
3:03
26. Report Writing Exercise Introduction
3:13
27. Report Writing Exercise Parameters
6:45
28. Report Writing Exercise Earnings Release
3:35
29. Report Writing Exercise Data and Financial Statements
7:22
30. Report Writing Exercise Drafting the Structure
4:17
31. Report Writing Exercise Establishing the Key Points
3:20
32. Report Writing Exercise Summary
4:51
33. Report Writing Exercise Fleshing Out Key Point #1
7:49
34. Report Writing Exercise Fleshing Out Key Point #2
5:00
35. Report Writing Exercise Fleshing Out Key Point #3
4:17
36. Report Writing Exercise Title
1:13
37. Report Writing Exercise Chart
3:26
38. Report Writing Exercise Wrap Up
2:02
ERC© 5: Financial Statement Modeling
Module 5 of the Sell-side Equity Research Certification (ERC©) is about building an entire equity re ...
Course TOC
ERC© 5: Financial Statement Modeling
Module 5 of the Sell-side Equity Research Certification (ERC©) is about building an entire equity research-specific, three-statement model starting from a simple Excel template and using it as a tool to support the investmen thesis. Students will learn about historical data and how to source it; con ...
Module 5 of the Sell-side Equity Research Certification (ERC©) is about building an entire equity research-specific, three-statement model starting from a simple Excel template and using it as a tool to support the investmen thesis. Students will learn about historical data and how to source it; consensus-based projections; variant-view projections; the crucial non-GAAP adjustments; and more complex revenue and cost builds.
1. Financial Statement Modeling The 3 Statements
3:03
2. FSM Importance In Equity Research
3:41
3. Course Downloads
Files
4. FSM Necessary Skills
4:10
5. FSM Excel and Accounting
2:11
6. Introducing the Apple Case
7:13
7. Where Do We Begin
4:33
8. An Overview of the AAPL Model
5:02
9. The Structure of the Model
5:34
10. Populating P&L Historical Data
10:29
11. Reviewing the P&L Historical Entries
6:41
12. Populating Balance Sheet Historical Data Assets
6:43
13. Populating Balance Sheet Historical Data Liabilities and Equity
3:30
14. Populating Cash Flow Statement Historical Data CFOA
6:14
15. Populating Cash Flow Statement Historical Data CFI and CFF
9:48
16. Reviewing the Cash Flow Statement Historical Entries
1:28
17. Revisiting P&L Historical Data D&A, SBC, and Interest
7:18
18. Introduction to Forecasting the P&L Setup
6:07
19. Forecasting the P&L Drivers
7:53
20. Forecasting the P&L Revenues and COGS Formulas
4:53
21. Forecasting the P&L Opex and Tax Expense Formulas
3:22
22. Forecasting the P&L SBC Formulas
1:53
23. Introduction to Forecasting the Balance Sheet Setup
11:51
24. Forecasting the Balance Sheet Total Assets Formulas
4:23
25. Forecasting the Balance Sheet Liabilities Formulas
4:36
26. Forecasting the Balance Sheet Equity Formulas
3:56
27. Introduction to Forecasting the CF Statement Setup
4:21
28. Deriving the CF Statement Net Income and SBC Formulas
2:23
29. Deriving the CF Statement Working Capital Formulas
7:52
30. Deriving the CF Statement Other CFOA Formulas
5:21
31. Deriving the CF Statement CFI and CFF Formulas
5:31
32. Introduction to FSM Schedules Setup
2:45
33. Schedules Shares Outstanding Historical Data
7:53
34. Schedules Projecting Shares Issued and Purchased
8:05
35. Schedules Projecting Basic and Diluted Shares Outstanding
3:43
36. Schedules PP&E and Capex Historical Data
4:31
37. Schedules Depreciation Historical Data
5:39
38. Schedules Forecasting Capital Expenditures
1:48
39. Schedules Forecasting Depreciation
3:58
40. Schedules PP&E Roll-Forward
3:03
41. Schedules Amortization Historical Data
2:11
42. Schedules Forecasting Amortization
4:19
43. Introduction to Other Non-Current Assets Setup
2:41
44. Schedules Other Non-Current Assets Historical Data and Forecast
2:32
45. Schedules The Relevance of Additions to ONCA
3:27
46. Introduction to Retained Earnings Setup
3:09
47. Schedules Retained Earnings Roll-Forward Formulas
9:19
48. Schedules Projecting Dividends and Others
5:17
49. Linking Retained Earnings Schedule to the Three Statements
3:30
50. Linking Cash and Equivalents to Cash Flow Statement
2:52
51. Introduction to Revolver Setup
2:40
52. Schedules- Cash Needs Analysis
7:04
53. Schedules Forecasting the Revolver
6:39
54. Linking the Revolver Schedule to the Three Statements
5:29
55. Introduction to Interest Expense Setup
2:05
56. Schedules Short-Term Interest Expenses, Historical Data and Drivers
9:16
57. Schedules Forecasting Short-Term Interest Expenses
3:13
58. Schedules Long-Term Interest Expenses, Historical Data and Drivers
4:59
59. Schedules Forecasting Long-Term Interest Expenses
2:28
60. Linking Interest Expense Schedule to the P&L
1:12
61. Schedules Interest Income, Historical Data and Drivers
4:31
62. Schedules Forecasting Interest Income
4:02
63. Forecasting Other Income and Expense
3:21
64. Working Capital Schedule Exercise
5:08
65. Working Capital Schedule Solution and Discussion
8:00
66. Broken Model Exercise Introduction
4:32
67. Broken Model Exercise Focusing on the Balance Sheet
2:26
68. Broken Model Exercise Focusing on the CF Statement
3:31
69. Broken Model Exercise Solution
7:32
70. Broken Model Exercise the “Cheat Code”
10:19
71. Introduction to Variant View in Forecasting
9:06
72. The 10-Step Framework to Forecasting Steps 1-5
7:54
73. The 10-Step Framework to Forecasting Steps 6-10
9:37
74. 10-Step Framework Apple Case, Steps 1-5
9:52
75. 10-Step Framework Apple Case, Steps 6-10
6:43
76. Variant-View Forecasting Beyond Revenues Other P&L
7:17
77. Variant-View Forecasting Beyond Revenues Tesla COGS Case
2:02
78. Variant-View Forecasting Beyond Revenues BS and CFS
3:35
79. What Is Non-GAAP Reporting
7:17
80. Non-GAAP Reconciliation Table
4:13
81. Prevalence of Non-GAAP Reporting in the US
3:06
82. Non-GAAP Impact on Guidance or Outlook
1:05
83. Non-Recurring Items Restructuring, Write Downs, and Others
4:44
84. Mapping Non-GAAP Adjustments to the P&L
1:36
85. Non-GAAP Stock-Based Compensation
4:26
86. Non-GAAP Workday Case
1:59
87. Introduction to Wabtec Non-GAAP Exercise
6:13
88. Wabtec Exercise Solution and Discussion GAAP Results
3:36
89. Wabtec Exercise Solution and Discussion 4Q’22 Non-GAAP Adjustments
7:54
90. Wabtec Exercise Solution and Discussion 4Q’21 Non-GAAP Adjustments
5:32
91. Introduction to Revenue Build Units x Price
6:24
92. United Airlines Revenue Exercise Introduction
1:49
93. United Airlines Revenue Exercise Earnings Release
3:10
94. United Airlines Revenue Exercise Key Operating Metrics
5:40
95. United Airlines Revenue Exercise Passenger Revenue Model
4:07
96. United Airlines Revenue Exercise Cargo Revenue Model
3:12
97. United Airlines Revenue Exercise Solution and Discussion
4:46
98. United Airlines COGS Exercise Introduction
2:31
99. United Airlines COGS Exercise Earnings Release
4:27
100. United Airlines COGS Exercise Model
5:50
101. United Airlines COGS Exercise Solution and Discussion
7:14
102. Revenue Build Apple Model Challenges
4:47
103. Revenue Build Modeling Without Reliable Historical Data
7:41
104. Revenue Build Forecasting Without Reliable Historical Data
4:50
105. “Flip the Quarter” Exercise Introduction
2:05
106. Creating a Quarter Analysis Table Actuals and Estimates
9:49
107. Creating a Quarter Analysis Table Variances
6:51
108. “Flip the Quarter” Exercise Updating 1Q’23 P&L
8:01
109. “Flip the Quarter” Exercise Updating 1Q’23 Balance Sheet
3:59
110. “Flip the Quarter” Exercise Updating 1Q’23 Cash Flow Statement
8:09
111. “Flip the Quarter” Exercise Variance Analysis
6:05
ERC© 6: Relative Valuation
Module 6 of the Sell-side Equity Research Certification (ERC©) dives deep into the art and science o ...
Course TOC
ERC© 6: Relative Valuation
Module 6 of the Sell-side Equity Research Certification (ERC©) dives deep into the art and science of valuing a company and stock using the relative valuation method. We’ll focus on how to best use comps or multiples, exploring the fundamental reasons why a stock may trade at a rich or a discounted ...
Module 6 of the Sell-side Equity Research Certification (ERC©) dives deep into the art and science of valuing a company and stock using the relative valuation method. We’ll focus on how to best use comps or multiples, exploring the fundamental reasons why a stock may trade at a rich or a discounted price.
1. Overview of Valuation
5:33
2. Course Downloads
Files
3. Valuing a Stock Fundamental Unit of Value and Other Considerations
2:03
4. Comparable Company Analysis
6:12
5. Relative Valuation Key Multiples
9:37
6. Relative Valuation Factors to Consider
3:20
7. Forward vs. Trailing PE Apple Example
2:55
8. Relative Valuation Analysis Three-Step Framework
1:59
9. What Valuation Multiple to Pick Apple vs. Raytheon
4:30
10. Three-Step Framework in the Real World
5:16
11. Key Drivers of PE Growth, Risk, and Reinvestment Needs
7:21
12. Breaking Down PE Amazon vs. Ford
3:23
13. Why Companies Trade at a High or Low Multiple
7:00
14. Apple Comps Sheet Exercise Setup
6:15
15. Apple Comps Sheet Exercise- Peer Group Selection, Sector Approach
3:57
16. Apple Comps Sheet Exercise Peer Group Selection, Fundamentals Approach
4:48
17. Apple Comps Sheet Exercise Analyzing the Multiples
2:43
18. Apple Comps Sheet Exercise Solution and Discussion, Peer Group
2:12
19. Apple Comps Sheet Exercise Solution and Discussion, Multiple
5:48
20. Apple Comps Sheet Exercise Solution and Discussion, Digging Deeper
1:31
21. Apple Comps Sheet Exercise Solution and Discussion, Conclusion
5:05
ERC© 7: Intrinsic Valuation
Module 7 of the Sell-side Equity Research Certification (ERC©) shifts gears to discounted cash flow, ...
Course TOC
ERC© 7: Intrinsic Valuation
Module 7 of the Sell-side Equity Research Certification (ERC©) shifts gears to discounted cash flow, or DCF. Student’s will start with the basics of time value of money, then quickly progress to more advanced topics like weighted average cost of capital (WACC) and a discussion about the most impactf ...
Module 7 of the Sell-side Equity Research Certification (ERC©) shifts gears to discounted cash flow, or DCF. Student’s will start with the basics of time value of money, then quickly progress to more advanced topics like weighted average cost of capital (WACC) and a discussion about the most impactful drivers of value in DCF analysis.
1. Discounted Cash Flow Time Value of Money
5:45
2. Discounted Cash Flow Simple Exercise
1:07
3. Course Downloads
Files
4. Discounted Cash Flow Simple Exercise, Solution
2:04
5. Discounted Cash Flow CFs in Perpetuity
3:23
6. Discounted Cash Flow Perpetuity Exercise Solution
3:43
7. Enterprise Value vs. Equity Value
3:46
8. EV = Net Debt + Equity Value
2:55
9. Enterprise Value Introducing Net Operating Assets
2:52
10. Two-Stage DCF Model
2:21
11. Two-Stage DCF Hot Dog Stand Exercise
2:34
12. Two-Stage DCF Hot Dog Stand Exercise, Solution
4:11
13. DCF Valuation Pros and Cons
5:27
14. Steps to Building a Two-Stage DCF Model
5:27
15. Step 1 Unlevered Free Cash Flow (UFCF) Formula
4:21
16. Step 2 Calculating the Terminal Value
4:36
17. Step 3 Weighted Average Cost of Capital (WACC)
6:45
18. Steps 4 and 5 Plus Cash, Minus Debt
3:36
19. Step 6 Calculate Shares Outstanding
2:25
20. Apple DCF Model Introducing Stage 1
4:52
21. Apple DCF Model Introducing Stage 2 and Fair Equity Value
3:21
22. Apple DCF Model Linking Inputs from the FS Model
3:37
23. Apple DCF Model Analyzing Net Working Capital
2:07
24. Apple DCF Model Discounting Stage 1 CFs to Present Value
11:20
25. Apple DCF Model Stage 2, Perpetuity Approach
8:20
26. Apple DCF Model Stage 2, EBITDA Multiple Approach
4:58
27. Apple DCF Model Stage 2, Which Approach to Choose
3:06
28. Apple DCF Model Net Debt
8:56
29. Apple DCF Model WACC
5:05
30. Apple DCF Model Summary Table
2:00
ERC© 8: Professional Soft Skills
Module 8 of the Sell-side Equity Research Certification (ERC™) addresses the crucial, yet underappre ...
Course TOC
ERC© 8: Professional Soft Skills
Module 8 of the Sell-side Equity Research Certification (ERC™) addresses the crucial, yet underappreciated topic of soft skills in equity research. Here, we’ll explain what it means to act professionally in a banking environment; the importance of the analyst-associate relationship; dealing with str ...
Module 8 of the Sell-side Equity Research Certification (ERC™) addresses the crucial, yet underappreciated topic of soft skills in equity research. Here, we’ll explain what it means to act professionally in a banking environment; the importance of the analyst-associate relationship; dealing with stress in the office and the long hours that are often required of an equity researcher.
1. The Importance of Soft Skills
4:35
2. Professionalism in the Office
4:03
3. Course Downloads
Files
4. Professionalism Communication
5:02
5. Professionalism Punctuality
3:10
6. Professionalism Dress Code
1:25
7. Professionalism Hierarchy
2:02
8. Interacting with Management Teams and Clients
4:55
9. Broken Thesis How to Handle the Inevitable
9:42
10. Long Hours in the Office What to Expect
2:47
11. Long Hours in the Office Busy Season
3:26
12. How to Deal with Long Hours in the Office
2:47
13. Multitasking Common Case and How to Handle
6:10
14. Dealing with Ambiguity
3:57
15. The Analyst-Associate Work Dynamic
6:04
ERC© Bonus: Breaking Into Research
Breaking into equity research can be very hard, but an aspiring ER professional can gain an advantag ...
Course TOC
ERC© Bonus: Breaking Into Research
Breaking into equity research can be very hard, but an aspiring ER professional can gain an advantage by using the right tools and strategies. In this bonus module, we’ll see how an “application package” and the most effective LinkedIn tactics can help a college/MBA graduate or career switcher land ...
Breaking into equity research can be very hard, but an aspiring ER professional can gain an advantage by using the right tools and strategies. In this bonus module, we’ll see how an “application package” and the most effective LinkedIn tactics can help a college/MBA graduate or career switcher land a desirable job in equity research.
1. Interview Questions for Equity Research Candidates
4:19
2. Course Downloads
Files
3. Recruiting Preparing an “Application Package”
7:51
4. Writing a Strong Resume 5 General Tips
5:01
5. Equity Research-Specific Skills, Abilities, and Interests
5:41
6. LinkedIn as an Application Portfolio
2:58
7. How Recruiters Find You on LinkedIn
4:39
8. Optimizing Your Home Page on LinkedIn
10:11
9. Filtering for ER Opportunities Outside LinkedIn
5:25
10. Marketing Yourself on LinkedIn “Apply and Wait” Approach
4:05
11. Marketing Yourself on LinkedIn “Tap the Network” Approach
4:35
12. Marketing Yourself on LinkedIn “Cold Call” Approach
4:00
Venture Capital Masterclass Highlights
Intuitive, Practical, and Built for the Real VC Workflow
Wall Street Prep’s Venture Capital Masterclass is designed to be intuitive, self-paced, and deeply practical. The program walks learners through the full venture capital investment lifecycle, from sourcing and thesis development to diligence, deal execution, and portfolio support. Using real-world case studies including Uber’s fundraising history, learners engage with authentic VC workflows such as market sizing, founder evaluation, cap table modeling, and term sheet analysis. The course emphasizes how venture capital decisions are actually made inside top firms and what it takes to think and operate like a professional VC investor.
Expert-Led Support Center
Upon enrollment, students receive free and unlimited access to Wall Street Prep’s Online Support Center. Learners can ask questions, download updated resources, and receive guidance from a dedicated support team made up of experienced finance and investing professionals. This ensures clarity on complex venture topics such as fund economics, term sheet mechanics, valuation tradeoffs, and portfolio construction, helping learners confidently apply concepts to real investment scenarios.
Private Online Tutoring (Additional Fee Applies)
For those seeking personalized guidance, live one-on-one online tutoring is available for an additional fee. Sessions are conducted via video chat and allow students to work directly with experienced professionals on venture-specific topics such as investment thesis development, cap table modeling, or interview preparation. Tutors and students can collaborate in real time using shared models, a virtual whiteboard, and integrated file sharing to deepen understanding and accelerate learning outcomes.
Prerequisites
The program assumes a basic introductory knowledge of accounting (e.g. interaction of balance sheet, cash flow, and income statement) and proficiency in Excel. Students with no prior background in Accounting should enroll in the Accounting Crash Course. Students with limited experience using Excel should enroll in the Excel Crash Course.
Earn CPE Credits with WSP Online Courses
Wall Street Prep is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The Wall Street Prep Quicklesson Series
7 Free Financial Modeling Lessons
Get instant access to video lessons taught by experienced investment bankers. Learn financial statement modeling, DCF, M&A, LBO, Comps and Excel shortcuts.
