Search Results for: SE

“Diversification is protection against ignorance. It makes little sense if you know what you are doing.” – Warren Buffett

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In any asset management class, students are taught that diversification is a key to unlock mathematically optimal risk-adjusted returns. However, Warren Buffett, one of the world’s most successful investors, would beg to disagree: to him, “diversification is protection against ignorance. It makes little sense if you know what you are doing.” In this article, Hadrien … Read more

April 2026: Inflation – Monthly Selection from the SimTrade blog

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Most Read Articles about Inflation on the SimTrade Blog This monthly selection highlights key articles on inflation, chosen based on their pedagogical value, practical relevance, and readership engagement. Inflation has been selected as a central theme due to its critical role in shaping monetary policy, asset pricing, and investment strategies in the current macro-financial environment. … Read more

February 2026: Derivatives – Monthly Selection from the SimTrade blog

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Most Read Articles about Derivatives on the SimTrade Blog This monthly selection highlights key articles on derivatives, chosen based on their pedagogical value, practical relevance, and readership engagement.    ▶ Jayati WALIA Brownian Motion in Finance    ▶ Akshit GUPTA Option Greeks – Vega    ▶ Shengyu ZHENG Pricing barrier options with analytical formulas    ▶ Tianyi WANG Understanding … Read more

Client Segmentation and Private Banking: Marketing Strategy or Risk Shield?

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In this article, Mathis HOUROU (ESSEC Business School, Global Bachelor in Business Administration (GBBA) 2022-2026) explains why Private Banking’s client segmentation is not just about sales, but also a crucial risk management tool for banks. Introduction In business school, we learn that client segmentation is a commercial tool. In Private Banking, it is used to … Read more

Beyond price: The wisdom of Warren Buffett and Napoleon Hill on investment and self-growth

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In this article, Mathilde JANIK (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025) comments on two quotes that bridge the gap between financial philosophy and personal development: one from the world’s most successful investor, Warren Buffett, and another from the self-help pioneer, Napoleon Hill. These quotes collectively highlight the profound truth that success … Read more

“The big money is not in the buying and selling, but in the waiting.” – Charlie Munger

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In an era dominated by instant trading for individuals, high-frequency trading firms, ever-faster market infrastructures, and social-media-driven market narratives, patience has become an underrated virtue. In this article, Hadrien PUCHE (ESSEC Business School, Grande École Program, Master in Management, 2023-2027) comments on Charlie Munger’s famous quote about the role of patience and discipline in long-term … Read more

Modeling Asset Prices in Financial Markets: Arithmetic and Geometric Brownian Motions

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In this article, Saral BINDAL (Indian Institute of Technology Kharagpur, Metallurgical and Materials Engineering, 2024-2028 & Research assistant at ESSEC Business School) presents two statistical models used in finance to describe the time behavior of asset prices: the arithmetic Brownian motion (ABM) and the geometric Brownian motion (GBM). Introduction In financial markets, performance over time … Read more

Valuation in Niche Sectors: Using Trading Comparables and Precedent Transactions When No Perfect Peers Exist

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In this article, Ian DI MUZIO (ESSEC Business School, Master in Finance (MiF), 2025–2027) discusses how valuation practitioners use trading comparables and precedent transactions when no truly “perfect” peers exist, and how to build a defensible valuation framework in Mergers & Acquisitions (M&A) for hybrid or niche sectors. Context and objective In valuation textbooks, comparable … Read more

EBITDA: Uses, Benefits and Limitations

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In this article, Alberto BORGIA (ESSEC Business School, Global Bachelor in Business Administration (GBBA), Exchange student, Fall 2025) explains about EBITDA, how it can be used, its advantages and disadvantages. Introduction Earning Before Interest, Taxes, Depreciation and Amortization (EBITDA) is ones of the most used financial metric and its goal is to understand a company’s … Read more

2025: The 10 Most Searched Finance Articles on the SimTrade Blog

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Top Searched Finance Articles on the SimTrade Blog Based on Google search queries, the following ranking presents the ten most frequently searched articles on the SimTrade blog in 2025. These posts cover key topics in financial markets, quantitative finance, risk management, derivatives pricing, and macroeconomic analysis.    ▶ Jayati WALIA The historical method for VaR calculation … Read more

The Private Equity Secondary Market: from liquidity mechanism to structural pillar

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In this article, Adam MERALLI BALLOU (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2026) introduces the Secondary Market in Private Equity. Introduction Over the past decade, the private equity secondary market has undergone a profound transformation. Originally conceived as a marginal liquidity outlet for constrained investors, it has progressively become a central component … Read more

Risk-based Audit : From Risks to Assertions to Audit Procedures

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In this article, Iris ORHAND (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2026) shares a technical article about risk-based audit. Introduction Financial statements are not audited by “checking everything”. In practice, auditors use a risk-based approach: they identify what could materially go wrong, link those risks to specific financial statement assertions, and then … Read more

How networking helped me land a Transaction Services internship in Paris

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In this article, Daniel LEE (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2023-2027) explains how to network to land internships. Introduction Finance is a highly competitive industry, whether it is investment banking, private equity or consulting roles. In 2025, Goldman Sachs’ summer internship acceptance rate was 0.7%. Candidates must stand out with … Read more

Interest Rates and M&A: How Market Dynamics Shift When Rates Rise or Fall

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In this article, Emanuele BAROLI (MiF 2025–2027, ESSEC Business School) examines how shifts in interest rates shape the M&A market, outlining how deal structures differ when central banks raise versus cut rates. Context and objective The purpose is to explain what interest rates are, how they interact with inflation and liquidity, and how these variables … Read more

Drafting an Effective Sell-Side Information Memorandum: Insights from a Sell-Side Investment Banking Experience

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In this article, Emanuele BAROLI (ESSEC Business School, Master in Finance (MiF), 2025–2027) explains how to draft an M&A Information Memorandum, translating sell-side investment-banking practice into a clear, evidence-based guide that buyers can use to progress from interest to a defensible bid. What is an Info Memo An information memorandum is a confidential, evidence-based sales … Read more

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros

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In financial markets, everyone wants to be right. The temptation to make accurate predictions, about earnings, interest rates, recessions, or stock prices, is universal. But as George Soros reminds us, accuracy alone is meaningless. What truly matters is how much you profit when you’re right, and how much you lose when you’re wrong. This quote … Read more

My Internship Experience at ISTA Italia as an In-House M&A Intern

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In this article, Ian DI MUZIO (ESSEC Business School, Master in Finance (MiF), 2025–2027) shares his professional experience as an In-House M&A Intern within the Corporate Development team at ISTA Italia in Milan (May–July 2025). Introduction Joining ISTA Italia placed me at the intersection of energy efficiency, smart metering, and consolidation strategy in a sector … Read more

My experience as a financial analysis assistant in China’s securities market

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In this article, Tianyi WANG (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2022-2026) shares her professional experience as a Financial Analysis Assistant at a leading securities firm in China. About the company The securities company where I completed my internship is one of China’s leading investment banks and brokerage firms. Founded in 2005, … Read more

My experience as a Working Student in Infrastructure Investment Inhouse Consulting at Munich Re

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In this article, Nicolas SCHULZ-SEMBTEN (ESSEC Business School, Global Bachelor in Business Administration (GBBA), Exchange semester 2025) shares his professional experience as an apprentice and working student in Infrastructure Investment Inhouse Consulting at Munich Re. About the company Munich Re is one of the world’s leading reinsurance groups, headquartered in Munich, Germany. With around 44,000 … Read more

My internship at Valori Asset Management

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In this article, Roberto RESTELLI (ESSEC Business School, Master in Finance (MiF), 2025–2026) shares key takeaways from a four‑month off‑cycle internship as an Investment Analyst Intern at Valori Asset Management, focusing on subordinated debt within the Fixed Income team. Introduction Before starting my Master in Finance at ESSEC Business School, I completed a four‑month off‑cycle … Read more