Financial Modeling, 2nd Edition Hardcover – Sep 18 2000
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About the Author
Simon Benninga is Professor of Finance at Tel Aviv University and Visiting Professor of Finance at the Wharton School at the University of Pennsylvania.
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Top Customer Reviews
One of the biggest problems I ran into during my MBA program was the way my professors taught Corporate Finance. I had great profs, true, but they were teaching theoretical concepts from theoretical textbooks. Sure, you learned the basics: CAPM, net present value, basic options and futures, Arbitrage Pricing Theory, VAR and TEV, but I have always maintained that the best way of learning a subject---particularly corporate finance---is by getting your hands dirty and digging into the guts of the material.
Since Corporate Finance, off-balance sheet instruments aside, isn't very dirty, the best way to get a hands-on practical approach in terms of Capital Structure, the appropriate discount rate to use in pricing an asset, risk, and optimal debt and dividends is to program in Excel and Visual Basic. The problem is that many top finance texts don't offer supplemental material to translate the theoretical concepts into actual valuation and spreadsheet models, which any financial analyst will contend is the life-blood of the industry.
With that in mind, Simon Beninga's "Financial Modelling" is a kind of "Joy of Cooking" for initiate investment bankers, corporate financiers, controllers, analysts, and anyone who wants to use core Corporate Finance concepts in the real world.Read more ›
Want to master the fundamentals of basic finance using Excel? then this is one of the few books on the market that really meet this need. Want to set up more advanced mathmatics modeling? well as the introduction of this explains, this book is more like a cookbook: it lists the required basic ingredients and the culinary process but if you want to spice the dish (financial model) up, it is up to the individuals to dig out those advanced formulas from the financial trade journals and apply them to the models.
I first saw the first edition of this book in my college library. took it home and was EXCITED. I was looking for a practical book that would show me the intricacies of Excel for setting up financial models and this was like a god-sent. Like one of the other reviewers said, this book combined basic finance, Excel functions, and VBA programming. To add practicality to this book, Professor Benninga even showed how to download financial data from the internet. Granted it is rather basic, but it adds to the usability of his book, making it a well-round book.
The best parts are end-of-the chapter exercises. Solutions are provided in the accompanying CD-ROM. See how many ways can you solve the same problem.
Professor Benninga always outlines the assumptions and explains the parameters of each model. We should remember that in many instances, unrealistic assumptions lead to way-of-the mark numbers, rendering the whole modeling process and its calculations useless.
Want to become a advanced-level financial modeler? then master the fundamentals first! this book gets you started.
P.S. I also highly recommend to anyone just starting with Excel modeling to read William J. Orvis's Excel for Scientists and Engineers. It is a bit outdated but still highly useful for its chapters on curve fitting, VBA programming and raw data manipulation.
Most recent customer reviews
I'm finishing up my Bachelor's degree this May and find Benninga's book O.K. It's great if you're using it to learn Visual Basic at the same time, or to get a taste of basic... Read morePublished on March 28 2007 by Christopher Gillam
I have used this book and recommended to others. It is certainly one of the best books on financial modelling, especially if you are a novice in modeling. Read morePublished on Jan. 17 2004 by Manoj Bhaskar
Great intro to financial modeling, excellent text for undergrad finance and MBA students. Learn core financial topics and Excel simultaneously. Read morePublished on Oct. 17 2003 by matt doolittle
The simplicity and transparency of many of these models inspires me to give this book five stars. I am an expert modeller and find it useful to have an excel version of many of... Read morePublished on Feb. 14 2003
"Cost of capitol"? The U.S. Capitol or the Rhode Island state capitol? Geez, I didn't know you'd need advanced finance models to do that.Published on Jan. 10 2003
Benninga successfully bridges academic formulas and real-life scenarios in this admittedly fairly expensive book. Read morePublished on Dec 27 2002
This book is very practical in terms of its success with integrating excel skills that are used every day by finance professionals. Read morePublished on Sept. 1 2002 by Mike Scurto
I've allways looked for a really applied book about modeling (in finance and economics). this book answers to all my questions. Read morePublished on Aug. 2 2002 by ariel
As a solutions company you look for books that will help you boost your bottom line. Books that will tell you how to do something that will save you time and why its an efficient... Read morePublished on Feb. 13 2002
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