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Flashcards in MFE pre-course Deck (32):
1

What are the top 5 best M&A Advisors?

#1 Goldman Sachs
#2 Morgan Stanley
#3 JP Morgan
#4 Citi
#5 BAML

2

What share of Mutual Fund and ETF Assets do largest 5 players have now and in 2005?

50% now and 36% in 2005

3

What share of Mutual Fund and ETF Assets do largest 25 players have now and in 2005?

77% now and 69% in 2005

4

What did Robert Shiller show?

That stock markets are excessively volatile using price to price feedback to explain stock market bubbles

5

What are the most significant reasons hi tech fims IPO?

To establish a market price, enhance reputation and attract analyst attention

6

How many annual IPOs before 2000 and after?

310 in 1980-2000 and 99 since 2000

7

What has happened to VC exits?

M&A to other firms has taken over compared to IPO

8

How much does a share need to be undervalued for a bid to be made

25-30%

9

Who tends to receive the valua of M&A?

The target tends to earn money, the acquirer tends to lose money

10

What is grossman and Hart's argument about takeover bids?

They can only succeed if full value is offered, else the shareholders would not sell. Hence, target shareholders will receive all the value

11

What was total deal value of M&A globally in h1 2018

USD About 3*10^12

12

About how many M&A deals took place in h1 2018?

45000

13

What was total deal value of M&A in US in h1 2018

USD 0.918*10^12

14

What is the largest M&A target sector in h1 2018 globally?

Machinery, equipment, furniture, recycling

15

What was total PE deal value in h1 2018?

USD 0.45*10*12

16

About how many PE deals took place in h1 2018?

12250

17

What is AUM of top 100 alt asset managers

USD 4 trillion

18

What is largest alternative asset mgmt asset class among top 100? Second and third largest?

#1 Real Estate (USD 1.4 trillion)
#2 PE
#3 Hedge Funds

19

What is fee on inst. funds?

Less than 1%

20

What is usual fee structure for hedge funds?

"2 and 20"
2% on the fund, 20% of the upside

21

What are the 2 largest hedge fund sectors?

#1 Fixed Income
#2 Equity Long Bias

22

What is total Hedge Fund aum (Q3 2017)?

USD 2.78 trillion

23

Ranking of inst. sectors by AUM?

#1 pension funds
#2 Mutual funds
#3 Insurance

24

Top 3 countries by AUM?

#1 US
#2 UK
#3 Japan

25

Growth of US mutual fund AUM over past 40 years?

120x

26

What was global nominal GDP in 2017?

USD 80.1 trillion

27

What was global stock market capitalisation in May 2018?

USD 86 trillion

28

What was global bond market capitalisation in december 2016?

USD 92 trillion

29

What was US house net national wealth in Q1 2018?

USD 100 trillion

30

About what is total derivative notional amount?

USD 500 trillion

31

What is the largest stock exchange by market cap and is the market cap?

NYSE, ~23 trillion

32

What is market cap to GDP in US and UK?

102% and 129%