Investing is often a battle with our own emotions. We see prices rise sharply and crash just as fast, and this can lead to very bad investment decisions. However, Charlie Munger’s wisdom comes once again handy, to remind us to avoid overlooking at prices all day-long, because “Investing is stupid if you’re more worried about … Read more
Financial markets move every second, reacting to every new piece of information, every financial statement, every geopolitical event. Prices rise, fall, move too far, come back again, and for anyone observing from the outside, this constant motion can easily appear chaotic. Yet, behind this apparent disorder lies a deeper structure, a logic shaped by the … Read more
Financial markets move with a constant rhythm, shaped by news, expectations, and the psychological impulses that influence investors every day. Prices advance, decline, accelerate suddenly, or pause without warning, and to the untrained observer this flow can seem arbitrary or even irrational. This can make it hard for investors to resist the urge of buying … Read more
In this article, Maxime PIOUX (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2022-2026) explains the importance of international accounting standards and highlights the key differences that finance and business students should be aware of. Why International Accounting Standards Financial statements are the primary source of information used by investors, managers, and other … Read more
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
In this article, Ian DI MUZIO (ESSEC Business School, Master in Finance (MiF), 2025–2027) explores the economics of leverage in leveraged buyouts (LBOs) from an investment banking perspective. Rather than treating debt as a purely mechanical input in an Excel model, the article explains—both conceptually and technically—how leverage amplifies equity returns, reshapes risk, affects pricing, … Read more
In this article, Andrei DONTU (ESSEC Business School, Global Bachelor in Business Administration (GBBA) 2025-2026) explains the gap between the productivity gains and the unrealized returns of the investors regarding the investments in AI. Introduction In the current market landscape, “Artificial Intelligence” has become the magic word used to justify almost any valuation. The narrative … Read more
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
In this article, Daniel LEE (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2023-2027) explains the Weighted Average Cost of Capital (WACC). Introduction The Weighted Average Cost of Capital (WACC) is one of the most important concepts in corporate finance and valuation. I know that for some students, it feels abstract or overly … Read more
From an educational perspective,
In this article, Bryan BOISLEVE (CentraleSupélec – ESSEC Business School, Data Science, 2023-2025) explains the Almgren-Chriss model, a fundamental framework in quantitative finance for optimal execution of large trading orders. Introduction Imagine you are a portfolio manager at a large asset management firm, and you need to sell 1 million shares of a stock. If … Read more
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
In this article, Alberto BORGIA (ESSEC Business School, Global Bachelor in Business Administration (GBBA), Exchange student, Fall 2025) shares his professional experience as a Wealth Management Intern at Nextam Partners. About the company During the summer between my second and third year of my Bachelor’s degree, I had the opportunity to join the Nextam Partners … Read more
In this article, Daniel LEE (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2023-2027) explains how to approach a stock pitch. Introduction Are you preparing for an interview for investment banking? Hedge fund? Or just participating in a finance competition? Learning how to realize a stock pitch is one of the most useful … Read more
In this article, Saral BINDAL (Indian Institute of Technology Kharagpur, Metallurgical and Materials Engineering, 2024-2028 & Research assistant at ESSEC Business School) explains how implied volatility is calculated or extracted from option prices using an option pricing model. Introduction In financial markets characterized by uncertainty, volatility is a fundamental factor shaping the pricing and dynamics … Read more
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
In this article, Tibor HAUER (ESSEC Business School, Global Bachelor in Business Administration (GBBA), Exchange semester 2025) shares his professional experience as a Finance Intern at Gerresheimer. About the company Gerresheimer is a globally operating partner for the pharmaceutical, biotech and cosmetics industries and plays an important role in the international healthcare value chain. As … Read more
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
In this article, Mathilde JANIK (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025) shares her experience as a two-year apprentice in the retail banking sector at Crédit Agricole des Savoie. Introduction This article is aimed at presenting my apprenticeship as a personal banker within Crédit Agricole regional bank Crédit Agricole des Savoie and … Read more
Financial markets are filled with numbers that move every second, yet many investors miss the most important insight: true value often lies hidden beneath the surface of the price. In this article, Hadrien Puche (ESSEC, Grande École, Master in Management, 2023-2027) comments on this quote by Philip Fisher, who reminds us that understanding a stock’s … Read more
