About WST

Wall Street Training & Advisory, Inc. (WST) is a leading global provider of training and advisory services. WST has a nearly two-decades-long track record of successfully providing services to clients across a variety of financial industry verticals, including investment banking, mergers & acquisitions, equity and fixed-income research, asset and investment management, credit analysis, private equity, and high-yield LBO and special situation/distressed analysis. WST has also worked with Fortune 500 companies, government agencies, extra-governmental regulatory organizations, and professional organizations around the world to provide tailored training for new hires and existing employees.

Clients looking beyond standard training programs continue to seek out WST's Training+ service, which provides customized, consulting-style programs that integrate WST's decades of specialized expertise, market insights, and best practices to improve their financial and operational processes. Furthermore, WST's advisory practice focuses on assisting clients to maximize value while accessing the capital markets or exploring strategic alternatives by refining financial projections, valuation, strategic positioning, and management presentations.

History & Mission

WST was founded with the goal of standardizing best practices in financial modeling.

Today's Challenge
  • Professionals need to constantly refine and hone their skills, and validate that their approach is still relevant
  • Top students exit the academic world without much practical knowledge, leaving a void during an era when finance needs some of the world's brightest minds

Mission Statement

We bridge the gap between academic theory and on-the-job training
via hands-on financial modeling training solutions allowing
market participants to make better informed decisions.

Business Segments

The company operates in four segments:

WST Instructors

Our team of instructors work around the clock in their respective industries, giving them the most up-to-date perspective when training, no matter who the client is. Click on a photo below to learn about each instructor.

Hamilton Lin, CFA, Founder & CEO of Wall Street Training & Advisory, has a broad background in investment banking and mergers and acquisitions. His responsibilities have included analyzing, structuring and negotiating mergers & acquisitions. Mr. Lin custom-builds and develops all of the financial and merger models that he uses which have become corporate and departmental standards. Mr. Lin has closed over two dozen transactions and has diverse industry experience ranging from oil & gas to insurance to asset management and related sectors.

Professional Experience
  • Wall Street Training & Advisory, corporate training firm dedicated to teaching fundamental financial concepts
  • Freeman & Co, boutique investment bank focused on asset management and broker dealers
  • Hales & Co, boutique investment bank focused on insurance and insurance brokerage
  • Banc of America Securities, Mergers & Acquisitions group
  • Ryan Labs, specialized bond asset management firm
  • Goldman Sachs, Investment Banking Research
  • PricewaterhouseCoopers, Management Consulting

Credentials
  • CFA (Chartered Financial Analyst) charterholder
  • Professional continuing education instructor at CFA Institute societies:
    – New York Society of Security Analysts
    – CFA Society of Chicago
    – CFA Society of Washington, DC
    – CFA Society of San Francisco
    – Hong Kong Society of Financial Analysts
    – CFA Society of Singapore
    – CFA Society of Japan
    – CFA Society of Philippines
    – CFA Society of Malaysia
  • GLG (Gerson Lehrman Group) Council Member

Academic Background
  • Adjunct Professor (former) of Corporate Finance and Valuation at Baruch College
  • Adjunct Professor (former) at NYU Stern School of Business
  • Adjunct Professor (former) of Valuation and Financial Modeling at Hunter College
  • BS, Finance and International Business, NYU Stern

Anna Brescia specializes in investment banking, with extensive experience in leveraged finance and credit agreements. Ms. Brescia has advised companies in the industrial, consumer, real estate, alternative energy, maritime, transportation, natural resources, telecom industries with respect to leveraged finance, mergers and acquisitions, capital raising and strategic partnerships opportunities. Her responsibilities included deal origination, evaluation, structuring, financial modeling, legal documents negotiation, and portfolio management for small and large cap companies. In addition, Ms Brescia evaluated investment opportunities in Western Europe and Asia.

Professional Experience
  • Dahlman Rose LLC, boutique investment bank focused on shipping, transportation, natural resources, and energy
  • ThomasLloyd Capital LLC, boutique investment bank focused on alternative energy
  • GE Capital, Leveraged Finance / Financial Sponsor Coverage
  • Lehman Brothers, Leveraged Finance / Financial Sponsor Coverage
  • Kaufman Brothers, boutique investment bank focused on technology, media, telecom, green technology and healthcare

Academic Background
  • MBA, Finance and Accounting, University of Chicago Booth Graduate School of Business
  • BBA, Finance, Baruch College
  • BBA, Management, University of Economics and Finance (St. Petersburg, Russia)

In memory of our dearly beloved Dean Frederick Choi:

In the spirit of Dean Choi's never ending devotion to education, with permission from his family, we continue to offer our Accounting content with his name and likeness. We are forever grateful for the impact he has made and will go on to make on his students through his work.


Frederick D.S. Choi is Dean Emeritus and Distinguished Service Professor of Business at New York University Stern School of Business. He served as Vice Dean and Dean of the Undergraduate College at Stern from 1995–2004. He is currently the Chair of the Accounting Department. He has authored numerous books including International Accounting (Prentice-Hall), International Finance and Accounting Handbook (John Wiley), International Capital Markets in a World of Accounting Differences (Irwin) and Globalization of Financial Accounting and Reporting (FEI). He has published in many journals including Journal of Accounting Research, Accounting and Business Research, Financial Analysts Journal, Journal of Accountancy, and the Journal of International Financial Management and Accounting.

Achievements
  • Lectured at such institutions as INSEAD (France), the Cranfield School of Management (England), University of Washington, Japan America Institute of Management Science, University of Bocconi (Italy) and the Stockholm School of Economics (Sweden)
  • Member of the First American Visiting Team to establish the National Center for Industrial Science and Technology Management Development in the Peoples Republic of China
  • Fellow of the Academy of International Business
  • Recipient of the Citibank Excellence in Teaching Award
  • Recipient of the American Accounting Association's Outstanding International Accounting Educator Award
  • First academician appointed to the Board of Trustees of the Financial Executives International Research Foundation

Academic Background
  • Ph.D., Accounting, Washington
  • MBA, Finance, Hawaii
  • BBA, Finance, Hawaii

Affiliations
  • American Accounting Association
  • Academy of International Business
  • Financial Executives Institute
  • Phi Kappa Phi, Beta Gamma Sigma and Beta Alpha Psi

Ryan Levitt is an experienced private equity investor, having spent the last 7 years in a variety of M&A and buy-side roles, in a range of industries and sectors. Mr. Levitt has deep experience in valuation and modeling methodologies, having analyzed over $200B in deal flow, with a particular emphasis on small to mega-cap leveraged buy-outs and minority equity investments. His responsibilities include deal origination, company and market analysis, financial models and valuation, term/structure negotiations, closing/funding and post-closing portfolio management. Mr. Levitt is also GE Greenbelt Six Sigma certified and formerly taught Excel modeling internally at GE Capital.

Professional Experience
  • Private Equity Secondary Firm, a buyer of diversified private equity assets on the secondary market, including both fund of funds and direct equity positions, managing over $6B in capital
  • GE Equity, Investment Professional with the private equity arm of the General Electric Company, with over $7B of balance sheet investments, focused on financial services, healthcare, and energy investments
  • GE Capital, a graduate of the GE Financial Management Program. Financial Analyst in GE Corporate Lending, GE Capital Corporate FP&A, GE Capital Aviation Services, and M&A Associate at GE Transportation Finance

Academic Background
  • BS summa cum laude, Boston College

Peter Olinto, CPA, JD has taught CPA and/or CFA Exam Review courses for the past 15 years. Previously he worked as an auditor for Deloitte & Touche, was a tax attorney for Ernst and Young, and later spent almost ten years teaching law, accounting, financial statement analysis, and tax at both the graduate and undergraduate levels at Fordham University's business school. He earned his Juris Doctor degree from Fordham University School of Law in 1995.

Richard Taddonio has a broad background in sales & trading, investment banking, and private equity, with detailed and extensive experience in distressed debt and restructuring defaulted loans to gain equity control. He focuses most closely on industries requiring high capital investment and offering substantial collateral, including agriculture, chemicals, gaming & leisure, industrial production, media, and technology.

Mr. Taddonio has analyzed hundreds of firms on both the sell-side and buy-side, and has executed diverse deal structures, ranging from a focus on a single firm requiring a highly complex analysis of all verticals at every level, to large-scale multi-industrial deals including many securities, requiring rapid top-level analysis.

Professional Experience
  • Falconhead Capital: Private Equity
  • Marlin & Associates: Investment Banking Associate
  • Black Diamond Capital Management: Distressed Debt Analyst
  • Bank of America: Investment Banking Division
  • Wachovia: Credit Derivatives Trading Summer Analyst
  • Bank of America: Equity Research Summer Analyst

Tony Hokayem, CFA, currently works for a large special situation investments fund which focuses on strategic lending opportunities. He originates across the capital structure in various types of debt (senior debt, junior debt, mezzanine debt, bonds, DIP, etc.) and equity (preferred, common, etc).

Prior to his fund experience, he spent 11 years at a large super regional bank in their syndicate trading, distressed, leverage finance origination, risk management, and contract finance areas. His focus has been private middle market companies. Mr. Hokayem has spoken at New York University's Stern School of Business and at several investment conferences.

Professional Experience
  • Special Situations Investment Fund:
    • Origination
    • Structuring and Underwriting
    • Syndication and Closing
    • Portfolio Management
  • Large Super-Regional Bank:
    • Syndicate Trading
    • Leverage Finance Structuring and Underwriting
    • Bankruptcy/Restructuring and Distressed Loan Trading
    • Private Debt Loan Origination, Portfolio Management
    • Credit Training

Academic Background
  • MBA, Finance and International Business, Stern School of Business, New York University (highest distinction)
  • Degrees in Economics, Mathematics, Centre College
  • CFA Charterholder
  • Series 7 and 63 Licenses

Alan Anderson, Ph.D., FRM, is one of WST's resident experts on quantitative finance and risk management. He has over twenty years of combined teaching and working experience in credit and portfolio risk management as well as derivatives and complex option pricing models. He currently teaches at numerous universities in the areas of applied mathematics, risk management, and quantitative finance. In addition, He has previously worked at institutions such as TIAA-CREF and Reuters in quantitative risk and analyzing credit spreads. Alan holds a PhD from Fordham University and has a MS from Polytechnic University.

Professional Experience
  • Equilibrium Concepts, Consultant
  • TIAA-CREF, Senior Quantitative Risk Analyst
  • Market Data Corporation, Financial Economist
  • Reuters, Fixed Income Analyst

Credentials
  • Financial Risk Manager (FRM) awarded by Global Association of Risk Professionals (GARP)
  • Associate Professional Risk Manager (APRM) awarded by Professional Risk Managers International Association (PRMIA)

Academic Background
  • Assistant Professor of Finance at Western Connecticut
  • Adjunct Professor of Finance at New York University
  • Adjunct Professor of Mathematics at Fairfield University
  • Adjunct Professor of Economics at Long Island University
  • MS summa cum laude, Polytechnic University
  • Ph.D., Economics, Fordham University
  • BS, Computer Science, SUNY Utica

Ted Michaels has a broad background with the financing and operation of businesses, with a particular emphasis on education, real estate, and special situations investing. His current focus is on the acquisition and turnaround of distressed real estate and real estate backed investments. He has extensive experience in valuation and modeling methodologies and his responsibilities have included operational & strategic plan development and implementation, as well as deal origination, analysis & evaluation, structuring and financial modeling. As a Vice President at WST, Mr. Michaels has led and assisted instruction on a wide variety of topics ranging from corporate valuation, to merger & acquisition deal structuring and leveraged buyouts. In this capacity he has taught at numerous universities throughout the United States and Canada as well as at major industry and financial services firms.

Professional Experience
  • Boutique Real Estate Private Equity Firm, focused on distressed real estate and real estate backed investments
  • Boutique Asset Management Firm, focused on investments in entrepreneurial businesses and real estate
  • Early Stage Venture Capital Firm, focused on healthcare, biotechnology, and education industries

Academic Background and Credentials
  • Bachelor's Degrees in Finance, Accounting & Economics
  • Passed all four sections of the CPA examination
  • Series 7, 66, and 79 Licenses
  • Passed all three levels of CFA charterholder examinations

WST Advantage

The key to WST's success lies in our active presence in financial services. By keeping sharp, we always understand what the market is currently looking for, allowing us to constantly adapt training to financial & regulatory dynamics and offer relevant, useful career development advice to job hunters.

Our instructors all have worked at top financial institutions around the world, ranging from bulge bracket investment banking to multi-billion family offices, where they closed and evaluated hundreds of deals ranging from $10 million to over $6 billion spanning vanilla acquisitions and squeeze-outs to LBOs and distressed situations.

Channel Check Examples

Good financial analysis comes from independent thinking and connecting random disparate pieces of information. It's important to understand a company's true catalysts and drivers of growth, which often differ from the ones that first come to mind. Here are two examples of how we can help you not just crunch the numbers, but also figure out which numbers to crunch and what they all mean:

Goodyear (GT) Channel Checks

What are Goodyear's true drivers of revenue growth?

  1. Is Goodyear an ancillary investment in the auto industry? If so, consider the supply chain...
    • What is the biggest driver of Goodyear's revenue growth?
    • The common answer: new car and used car sales. If sales are expected to grow 20% forever, is that good or bad for Goodyear?
    • New Car Sales: Consider the supply chain. Suppose Toyota posts a surge in sales; is that good or bad for Goodyear? Identify who supplies their tires – this is a vertical integration channel check.
    • Used Car Sales: Which tire manufacturer offers the most attractive commissions for tire shops?
  2. BUT... wait, consider Goodyear's Cost of Goods Sold!
    • Revenue growth recently fluctuated from negative 15% to positive 20%: good or bad? It depends: why the change?
    • Synthetic rubber (oil-based product) and steel are GT's largest inputs. Both are very volatile and variable costs.
    • Meanwhile, GT has maintained constant gross margins: COGS, as a % of revenue is steady at about 82%.
    • Goodyear does not hedge commodity price risk.
  3. What is the source of Goodyear's revenue growth?
    • GT passes along input price increases to their clients per the MD&A and as witnessed by fairly constant margins.
    • From the footnotes, we quantify that in 2011, price increases accounted for over 100% of revenue growth, while volume shipments were flat to negative.
    • Thus, the primary drivers of GT's revenue growth are commodity prices of rubber (oil) and steel!
    • Investing in or lending to GT is less of an ancillary auto industry play and more of a commodities price play!
  4. BUT WAIT... what drives commodity prices?
    • China is the #2 oil consumer worldwide (33% in 2013) and largest steel consumer (47% in 2013)
    • The post-credit crisis boom in commodities prices are largely due to China's infrastructure development.
    • As China's economy slows down, so does commodities prices as witnessed in November 2014 with WTI dropping 40%.
    • One might argue that China is the most impactful long term driver of Goodyear's revenue and profits!

Walmart (WMT): Simple or Nuanced?

Some companies' financial results appear to be very straightforward. However, deeper analysis paints a different picture; a few examples include:

  1. Valuation Trade Decision
    • WMT's stock tends to trade in fairly tight, consistent ranges with periodic resets.
    • As a long/short HF analyst, your DCF and valuation model says WMT is fairly valued – what's the trade? Buy/hold/sell/short?
    • It depends – during bull markets, SHORT to provide a source of capital for long positions; during bear markets, go LONG while other stocks decline
    • Fundamental analysis often differs from the actual trade decision!
  2. Capital Structure Decisions
    • WMT generates $25B of CFO but borrows $5B – another WorldCom about to explode?
    • Where's the cash going? CapEx is $13BIL, dividends are $6BIL and buybacks are $7BIL. Debt funds return of capital to shareholders.
    • WMT targets a 40% Debt/Capital ratio. As profits up and debt repaid, Debt/Cap plummets.
    • Nope, not fraud – WMT borrows (debt up) to reduce their equity (capital down) to get 40%.
    • Analyze and interpret results properly!
  3. Misleading Sales Metrics
    • Same-store sales (SSS) is an extremely important metric in the retail & consumer industries.
    • Yet SSS is easily manipulated! WMT might report SSS of +2%, which sounds great, but store sizes could be expanding.
    • Size does matter: comparisons of sales per square foot are better.
    • Upgrade your critical thinking skills and challenge assumptions.
  4. FX is Walmart's Biggest Revenue Driver
    • 2004: WMT's revenue increased 11% mostly due to international (20% of total) – good or bad?
    • It depends: FX accounted for 37% of the increase in international!
    • 2009: Revenue up 1%, and Int'l was flat: FX wiped out Intl's 9% growth, hampering overall growth.
    • In 2004, the USD was appreciating; in 2009, the USD was depreciating.
    • Understand true driver of growth!
  5. Recession = Growth or Decline?
    • Question: when a recession FIRST hits, will WMT's sales go up or down?
    • The common answer: Sales will go up as consumers trade down.
    • But, WMT's core shoppers are low and fixed income consumers that get squeezed first and hardest when a recession first hits.
    • Sales volume will initially go down.
    • It's not until there is a prolonged recession that the upper-lower and upper-middle class start to trade down; then, WMT benefits.

Training Methodology

How do we teach how to think in our training courses? Our approach is to emphasize logic and intuition over lecturing. We prod and encourage participants to uncover answers on their own by asking the right leading questions. In turn, trainees understand and crystallize concepts on a deeper level, as they figure out the answers independently, rather than just recite what they heard. By learning to challenge and justify all assumptions, participants...

  • construct their own meaning
  • take several steps beyond theoretical concepts
  • end up more capable of adapting to rapidly changing standards
  • are more likely to retain their learning

To see firsthand how we implement this methodology in our training, sign up for a free trial of our online courses.

Free Trial

Other vendors typically use a linear "walkthrough" approach via lectures with spoon-fed instructions.

Superior Content

Our content teaches the nuances and real-life intricacies, not just the basic how-to; we teach the rules AND the exceptions! Our examples are always real case studies, using actual companies and numbers. We don't just pick the easy companies to analyze, but the difficult ones with many exceptions so when you actually incorporate the training onto the job, you know exactly what to do instead of asking "huh? we didn't learn this!"

Superior Instruction

We are able to tie together random disparate pieces of knowledge - we strive for the "lightbulb, ah-ha!" effect - that feeling when you finally understand something and then think "I wish someone would have explained like such and such." We explain it that way the first time. We have the ability to translate difficult and advanced concepts into plain English while providing highly detailed explanations and intricacies. Our teaching integrates a variety of disparate topics into one focused theme.

Case Studies

Client Testimonials

See what others have to say about their WST experiences:

In more than 20 years in investment banking, I have never had the pleasure of working with someone whose technical and analytical skills were more sharply honed. In the $6 billion sale of Ultramar Diamond Shamrock to Valero, Inc., I saw Hamilton quickly create and continually refine a detailed and flexible financial model of an industry transforming transaction, which enabled Ultramar to consider various "real-world" scenarios necessary to reach an informed decision with regard to the transaction. Personally, I can think of no one better qualified to train someone in the analytics involved in the practice of investment banking.

Lane Genatowski
Former Head, Utilities Industry Group
Banc of America Securities

Hamilton has a solid understanding of investment banking and financial modeling. He was absolutely critical to the senior management of Ultramar Diamond Shamrock while we were exploring strategic options that resulted in the $6.2 billion merger with Valero Energy. I would highly recommend Hamilton's experience and background to anyone interested in developing their career on Wall Street.

Scott Spendlove
Former Vice President, Corporate Planning & Investor Relations
Ultramar Diamond Shamrock

Hamilton's command of financial modeling and valuation methodology is unmatched. His approach and collection of tools secure extraordinary efficiency and accuracy. Even as a first-year analyst he was frequently called upon to instruct peers and seniors in investment banking analysis. Following years of hands-on Wall Street experience, he now offers a premier choice for financial training.

Igor Alexeev
Former Vice President

During the last 20+ years, I have taught thousands of analysts and financial executives in the U.S., Asia, Europe and Latin America. All share a common trait - they value practical experience and real-life applications over theoretical textbook learning. As the former Dean at New York Univerity's Stern School of Business, I know how difficult it is to find instructors for executive training that possess both relevant experience and the ability to effectively engage managers in interactive learning. Wall St. Training's Founder, Hamilton Lin, is one of the very few who possesses these attributes. I have worked with Hamilton and have been able to observe first-hand his relentless focus on quality both in content and delivery of finance and investment banking subjects.

The name of his firm reflects his Wall Street experience in investment banking and corporate finance. The speed with which Wall St Training's offerings have been embraced by the financial markets, not just in New York, but internationally as well, is the best testament of the relevance and usefulness of his courses. Indeed other executive training programs rely on Hamilton to teach their advanced finance courses for them. As the current Chairman of NYU/Stern's Accounting Department, I rely on professionals such as Hamilton for feedback on how to enhance our curriculum offerings. At such, I regard Wall St Training as the standard for financial training.

Frederick Choi
Dean Emeritus and Accounting Department Chair
NYU Stern School of Business

Investment Bank Analysts/Associates

I was an off-cycle hire in the equity research department of a large bulge bracket bank and needed a high quality financial modeling training course that matched my bank's structured training program. Being a science undergrad with 1 year of management consulting experience, I needed to get up to speed on financial modeling asap. Luckily, Wall St. Training offers such courses in a public venue and they also train various banks' full-time training programs as well. Wall St. Training provided a structured training across the fundamentals of financial accounting and modeling and enabled me to design 3-statement models for companies outside of the example used in the training.

This was key for me as most training programs dumb down the training to the point where it's hard for beginners to design 3-statement models for real-life companies on the job. I significantly improved my Excel speed using WST shortcuts and the online support materials enabled me to revisit training materials and refresh my memory on specific concepts. WST had an unparalleled level of customer service post-training completion, and an active was interest shown by WST in enabling me to grow my modeling skills even after the course was finished. As a direct and immediate result of Wall St. Training, I was able to build a company initiation model from scratch and my coverage initiation was a great success!

Name Withheld
Analyst, Equity Research
Large Investment Bank

I thought the trainings were great. Because of various internships and stuff at school, I've had a chance to do the Analyst Exchange, DealMaven, Wall Street Prep, PE 101, and Mergers and Inquisitions trainings. This was my first time (other than Youtube) that I had a chance to see your trainings and I thought they were awesome. I liked that it wasn't too basic, but actually got into some details of the models. I learned a lot.

Name Withheld
Analyst, Investment Banking
Large Investment Bank

The Excel training was very relevant to my role as an Associate. I am an MBA new hire and a lot was revealed about Excel of which I had no previous knowledge. The training will definitely impact my immediate job and ultimately my career as it will make me more efficient and therefore more productive. We covered a lot of material in a short space of time so the key is to practice, practice, practice. The instructor (Hamilton Lin) was extremely knowledgeable of Excel and Excel modeling. It was a bit scary how much he loved the Excel tricks. He's a machine. He moves, and speaks, very quickly though so the class had to slow him down a few times, but beyond that he knows his stuff. I would definitely recommend Wall St. Training!

Name Withheld
Associate, Investment Banking
Large Investment Bank

I just want to let you know that the training program was amazing. I have just finished about two weeks of work in FIG at BofA, and cannot stress how important the skills learned in training have been. I try to use the shortcuts as often as possible, but as crappy as my Belkin PS/2 mouse is, I have to use it once in a while."

Nachiketa Rao
Summer Analyst, Investment Banking
Banc of America Securities

My summer internship is done and I'm still alive! It was a great experience and I am now in a position to say thank you once again for the training program you provided. Wall St. Training was the single most important educational experience of my life. Your hands-on teaching style taught me the importance of efficiency through keyboard shortcuts and macros, which has increased my productivity fivefold and will forever remain a part of my work habits. You are without a doubt the best teacher of any subject I have ever had and I will be recommending you to everyone I meet interested in a career in investment banking.

Steve DeWald
Summer Analyst, Investment Banking
Banc of America Securities

As an Analyst promote, the Associate training was very useful and relevant to my daily work and job. The instructor was very knowledgeable and effective—the material presented was well organized and the training was very interactive and one of the most professional and effective training session I have taken!

Thomas Yu
Associate, Investment Banking
Deutsche Bank

Having been an extensive user of Excel for over 4 years, I thought I had all functions covered. Hamilton took our fundamental knowledge of Excel to the next level. He demonstrated techniques that increased overall functionality of our analyses, while also saving us time in implementation. Hamilton proved that for anything you can think of, it probably can be done.

Savan Devani
Associate, Investment Banking
Deutsche Bank

I really felt that Wall St. Training was world class and would recommend it to anyone starting a new career on Wall Street. In particular, the strength of the program is that it concentrates on how analytical work is actually conducted in real life rather than the academic approach of some other competitors. In addition, the instructor possessed incredible knowledge of advanced Microsoft Excel features and shortcuts. All in all, Wall St. Training presented its program in an extremely professional and engaging manner.

Joseph Chung
Associate, Investment Banking
Deutsche Bank

I learned a great deal of useful on-the-job skills. The accounting, corporate finance, modeling, and Excel that Wall St. Training teaches you will help you in your everyday tasks in any field of finance. The training I received from WST will forever put me at an advantage in my job search as a student. Having received training as a sophomore, I will have a better grasp of my technical skills come summer recruiting season as a junior. Therefore, I will be able to interview and speak more intelligently about my summer experience. Not to mention, the productivity increase of the Excel shortcuts and macros will make your life as a junior banker a lot easier.

The great thing about Hamilton is that he keeps his class very engaged. This is one class you won't be able to sleep in and he also never moves ahead until he is sure that everyone understands the concept at hand. Hamilton truly cares that you learn the material. In addition, he rarely doesn't know the answer to a question and my advice to you is believe him when he says he never loses a bet, so don't try it (from personal experience).

Matthew Tsui
Summer Analyst
Needham & Company

Wall St. Training's financial modeling program provided a comprehensive overview of investment banking essentials including discounted cash flows, trading comps, transaction comps and leveraged buyout valuation. The program comprised a balanced blend of theory, practical application, interactive media and printed materials. I would strongly recommend Wall St. Training for any individual entering corporate finance, equity research, commercial and/or investment banking.

Ramy Ibrahim
Associate, Investment Banking
CIBC World Markets

As an analyst promote, I was a little skeptical heading into the financial modeling and investment banking training for associates. But Wall St. Training quickly changed my view as the instructor taught valuable timesaving shortcuts, Excel keystroke efficiency, and financial modeling concepts to fortify my base of knowledge. The instructor was entertaining as he moved at a good pace through the material, which helped all participants, irrespective of background, gain from the course. I would absolutely recommend Wall St. Training for training classes in the future!

Thomas Houdek
Associate, Investment Banking
CIBC World Markets

Wall St. Training has been a valuable tool in fusing business school concepts into a clear, complete and logical financial picture. Hamilton Lin runs his course in a faced-paced, aggressive style well-suited for the banking industry. Hamilton's repetition of financial concepts and "keyboard-only" Excel modeling drives this effective training program. For those ESPN viewers, Hamilton is the "Excel Schwab" and I challenge any of you to stump him.

Jeffrey Wong
Analyst, Investment Banking
Grail Partners, LLC

As a Senior Analyst at a boutique investment bank with no formal training curriculum, I found Wall St. Training's instructional teaching to be very valuable. In a learn-as-you-go environment commonly seen in smaller boutiques, WST's modeling course showed me the best practice techniques in modeling, thus saving time and making me a more sophisticated financial modeler. I will have more confidence in my modeling assingments, including awareness of the best techniques to model efficiently. On a scale of 1 to 5, the advanced modeling course is certainly a 5.

Hamilton challenges the classroom not only how to model efficiently, but to think conceptually on how to construct a model that is error-free, dynamic and realistic from the very onset! I viewed the teaching style to be very effective because it is highly practical and consistent with banking practices on the Street. Hence, it is more related to my job and is certainly more application-based than conventional classes. I have taken other on-line courses and felt that the classroom setting with Hamilton made a real difference. He was very interactive with his students and addressed all their questions regarding modeling. I think smaller boutiques would find its structured training programs to be the most valuable training option for analysts/associates.

Nicholas Chong
Senior Analyst, Investment Banking
Glocap Advisors

For any student fervently trying to enter the World of Investment Banking, it is clear that there is a certain skill set that is required of the incumbents. My personal goal has been to build those skills as much as possible beforehand. I think my participation in Wall St. Training demonstrated my passion for the industry. I am extremely more efficient with Excel now which will hopefully help me to be a better Analyst. Hamilton Lin, through his extensive experience on the Street, technical knowledge of Excel, and vigor for teaching students, goes through every lesson step-by-step ensuring you understand everything fully.

Carl Majette
Summer Analyst, Investment Banking
Merrill Lynch

Hamilton's Valuation and Financial Modeling classes gave me the tools I needed to become an Equity Research Analyst. If you want to get ahead, Wall St. Training will get you there.

Name Withheld
Analyst, Equity Research
Large Investment Bank

Hamilton's training gave me the preparation I needed to get my current private equity position and to succeed as an Analyst. His Wall St. Training program will help you build a foundation of financial skills.

Name Withheld
Analyst, Private Equity
Large Investment Bank

I found Hamilton's course to be extremely relevant to my work in financial services. It was totally practical and non-theoretical, and I was impressed by how much he was able to pack into such a short time frame. I would definitely recommend Hamilton to anyone who wants to gain a better understanding of Wall Street and/or kick start his or her Excel modeling skills. His class definitely helped me to become a better financial analyst.

Eric Stern
Analyst, Investment Banking
Large Investment Bank

I highly recommend this class for anyone that is considering going the analyst route. It is an easy and informative way to learn about the daily routine of being a first year analyst.

Adam Kotkin

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More Testimonials

Hamilton is well-qualified and very knowledgeable on the subject of pre- and post-merger valuations, especially given the effects of dilution of outstanding stock options. I would highly recommend Wall St. Training for any merger modeling, especially those involving complex issues.

Michael Petridis, NBA, CMAA
Ourania, LLC

I completed the basic modeling—it totally demystified the whole process for me. Looking fwd to doing more modules! Excellent program in every respect. Also, I'm not 100% 'mouse free' yet, but well on my way! Thanks!

Virginia A. Donner
Plainfield Asset Management

By having Wall St Training on my resume, I have 'wow-ed' potential employers and interviewers. In particular, I was selected to be a part of the 2009 NYSSA Investment Research Challenge, and since WST is a frequent instructer at NYSSA, the selection committee kept on asking me about what I learned in my WST courses. I definitely blew them away!

Sonali Chandra
Rutgers University

I was talking to someone after a meeting and he heard from one of the attendees that I am skilled in financial modeling; then after a long discussion he said to me "How have you learned all these skills in advanced corporate financial modeling and valuation and which college have you studied? You have advanced skills and knowledge in financial modeling and I want to know how you learned them and where."

Then I explained to him my work life experience in finance and the hard time in financial analysis and modeling I had until I got WST's training and passed your certifications and how I become a star and many employers call me to work for them. So when I talked about WST and he heard your name, he said "I heard of WST in HK and I am interested in talking to them to improve and develop our training program. Our current training lacks someone like WST—an expert instructor in financial modeling with a deep knowledge in finance to improve our content.

Hani Bawashka
ARC School of Finance

Funny story I forgot to tell you—I have been working on my masters and I had to take a finance course, my final exam was last night and when I was studying I needed a little extra help with CAPM... So, I went on YouTube and searched for CAPM and guess who popped up... WST!! So you guys helped me with my CAPM and let me tell you, it was really helpful, 2 thumbs up! Thanks!

Lindsay M. Calautti
Recruitment Manager
TD Securities (USA)

Two things have helped me move out of a senior sales position into an investment analyst job: my CFA Charter studies and the slew of financial modeling classes I've taken at Wall St Training. Both lent great credibility to my move, but the real benefit of WST's classes were immediately evident on the job as I was able to develop complex proprietary models from scratch whilst referring to their models and notes. The payoff was instantaneous and WST has made me look very good in front of my boss!

James Vanreusel
Grassroots Capital

I have been using Wall St. Training's macros for over a year and I think they are amazing. My productivity has increased exponentially due to your training. I would recommend your class to any investment banking analysts/associates who are serious about excelling in this industry. Thanks!

Dimitri Cohen
Investment Banking
Wells Fargo Securities

I definitely recommend Wall St. Training for anyone looking to get ahead in the financial world. After a week of training, I already knew more about modeling and keyboard shortcuts in Excel than analysts that were on the desk for a full year. I've been able to save time with the macros provided and turn in quality work. Overall, Hamilton's classes are fast-paced, which prepares you for investment banking, but he also has a great sense of humor and makes the learning enjoyable. His experience is evident and he tells you exactly what you need to know in order to be successful and get ahead in this competitive industry. I learned more about Excel in one week than I did in four years of college.

David Shujman
Analyst, Capital Markets
CIT

Hamilton Lin came in from Wall St. Training and conducted an intense session over the course of several days for our Analysts. Some in the group were brand new, and others had been with the firm for a few months. Feedback from all trainees was very positive. The initial review of accounting theory was an excellent primer for the hands-on, intensive Excel analytical work that ensued. I had the sense from the Trainees that Hamilton kept the small group on its collective toes, firing questions and looking for the Trainees to validate their learning in real-time.

The Trainees took away very practical skills in the use of Excel and in proper financial modeling techniques, which is useful training that even the most "book-smart" new hire needs. The foundation laid for the Trainees in the Wall St. Training session is one of fundamental concepts complemented with practical application, and we are confident that this will help our Analysts acclimate themselves to the fast-paced environment in the firm. The fact that Hamilton has been receptive and responsive to follow-up questions from Analysts ("How do you do this in Excel...?") is a plus. I would definitely recommend Wall St. Training to others.

Jack Rabun
Vice President and Training Coordinator
Grail Partners, LLC

Wall St. Training provided instruction adapted to our specific needs that combined relevant theory and practice. Our instructor was able to keep the entire class engaged by expecting and obtaining participation and contribution from everyone. We chose Wall St. Training based upon experience, relevance, and adaptability to meeting our specific goals—our expectations were exceeded on all accounts.

Joseph Puthenveetil
Analyst, Training Selection Team
Grail Partners, LLC

Wall St. Training's investment banking training was very comprehensive for me, not only in the number of topics it covered, but also in the way the course was delivered. Hamilton made sure that each key point is well understood by the students and each technique learnt is utilized accordingly. The instructions were always clear and succinct, not to mention the excellent course material, especially the meticulously-prepared training models.

I build models nearly on a daily basis and the training showed me techniques to improve my efficiency in modeling, such as the great shortcuts (both the reference sheets and the Excel Add-Ins) and the most effective functions for each purpose, which I now use on a daily basis to improve the quality of my work. Wall St. Training is definitely one of the best and most importantly, relevant training groups I have dealt with and Hamilton Lin can be called a guru of Excel modeling. I would highly recommend them to everyone in the finance industry.

Joshua Fu
Senior Credit Analyst
TD Securities

The ability to use Excel in an efficient manner is a big advantage in an industry that depends on the timeliness and accuracy of information. The time saving techniques I learned from Hamilton's Advanced Excel for Data Analysis course have enabled me to complete routine tasks more quickly. Moreover, by reducing the amount of manual labor involved, the potential for errors has also been diminished.

Name Withheld
Equity Research
Large Equity Research Firm

I would highly recommend Wall St. Training to anyone who wants to understand the workflow and responsibilities of an analyst - by understanding the workflow and needs of the financial analyst, FactSet is in a much better position to create applications, reports, and charts that make company and industry analysis easier for the analyst. Wall St. Training was very effective and knowledgeable. Hamilton's strong understanding of finance and his experience as a banker gave us keen insight into the common tasks and pitfalls that an analyst must overcome. His teaching style also conveyed the importance of defending your numbers and how meticulous an analyst must be when crafting their models. Thank you!!

Eric Weitzman
Vice President and Senior Product Manager
FactSet Research Systems

I was very impressed with Wall St. Training. It had been difficult to find an advanced, hands-on financial modeling class that walked you through the steps of building a bottoms-up financial model. I had taken a class with another institution, but the instruction was not hands-on enough. As an MBA with strong Excel and financial statement analysis skills, Hamilton was able to tailor the instruction to meet my goal of building detailed financial models quickly and accurately for my work as an equity research analyst.

Valisha Graves
Senior Research Analyst

Wall St. Training's Advanced Financial Modeling class was exactly what we were looking for. Hamilton had complete command of everything he was teaching which covered everything from Finance to Accounting and Excel. I would recommend Wall St. Training to anyone who would like to develop a deeper set of finance skills that will clearly set you ahead of the pack. Understanding where all the numbers on a company come from and how they inter-relate are the key to building a valid and detailed model and training with Hamilton will provide you with that skill set.

Sapan Vyas, CFA
Kimelman & Baird, LLC

Hamilton is very knowledgeable in the business and accomplished a lot of tasks within a short period of time. He encouraged students to ask questions and answer questions. Good usage of practical application and real-life examples ... Excel training was great and being able to see a final product was helpful to cement the training.

Name Withheld

I had no experience with Finance (Econ major) and absolutely no experience with Excel. Now I feel I dominate what we learned and it is 99% thanks to Hamilton Lin. I appreciate everything very very much.

Name Withheld

I learned an incredible amount about using Excel and analyzing 10K's, 10Q's, trading comp and deal comps. We were able to get through lots of material and always stayed busy. It was a great experience and I learned an incredible amount!

Name Withheld
Feedback from Bulge Bracket Investment Banking Training

Hamilton's Financial Modeling class greatly supplemented the Indiana Kelley Business School MBA program—you won't find this type of hands-on training at any educational institution and I would highly recommend it to those looking to get ahead on Wall Street.

Patrick White
MBA Student
Indiana University Kelly School of Business

I really enjoyed the training. The instructor was strict, so you had to do it right the first time which enforced the accelerated learning curve. It was intense with a lot of information, I am glad that we had a few days in between to retain the information. It is helpful to be knowledgeable in excel before the beginning of the class because it makes the first day easier. I have already begun to implement what I have learned in the class to my internship and my finance-based class work. I would definitely recommend the program.

The Wall St Training program was intense. A lot of information was dispersed in a short amount of time. There was some type of pressure on getting things done right and fast. All this created an environment which felt as if we were being trained at a Wall Street firm. It was great! Hamilton's comments were ever insightful and clear. He had a clear grasp on his profession and the skills that he brought to the class. I would definitely suggest for those accepted into future WST programs, to have completed Excel courses and have a strong working knowledge of accounting. It would very much increase how much the student would get out of it. Maybe IBC could help offer that training. If the classes could be taught over a longer period of that time, that would also help. But overall it was a privilege and pleasure being part of the program.

I would like to thank you one more time for providing us with this exciting opportunity. Special thanks to Mohamed Wann for bringing Wall St. Training to Baruch and to Hamilton Lin for becoming a role model for us. Overall the training was intense and a bit challenging. It made me realize what my gray areas are and encouraged me to brush up my knowledge on certain topics. I would highly recommend it for those interested in a career in Investment Banking. As per the suggestions, I would recommend to encourage students to study excel more in-depth on their own before and in-between the training sessions.

Thank you for giving me the opportunity to participate in the Wall St. Training program. I have learned a lot about financial modeling and company valuation during the training. From my personal experience, it is a very successful and well-planned training program. I hope it will continue and more students from Baruch will benefit from it.

Overall, I liked the experience. If I could do it over again, I would. Hamilton is a good instructor and I learned a lot from him. I am very comfortable with Excel after this. I will make every attempt to know the financial modeling training like the back of my hand.

Various Students
Feedback from Baruch College Investment Banking Club Training

I took Hamilton's class to gain a broader perspective on Valuation. His command of that subject and his intuitive understanding of the intricacies of Wall Street was obvious. He did a great job in balancing teaching the finer points of the subject while keeping it relevant to each member of the class.

Damian DeSola
Senior Vice President
DeSola Group, Inc.

Hamilton, thanks for your Financial Modeling training class. It was extremely informative and it's obvious you have extensive knowledge andd tools for forecasting/modeling. You're an excellent teacher and speaker. I would highly recommend you for anyone seeking training services on Wall Street.

Ted Weis, CFA
Attorney at Law
Serling Rooks & Ferrara, LLP

I was impressed with Hamilton's practical, hands-on knowledge of corporate finance and financial markets. His ability to explain complex concepts in simple and understandable terms is a quality I see very rarely. Wall St. Training would be invaluable to anyone who chooses to pursue a career on Wall Street.

Name Withheld
Vice President
Large Private Equity Firm

As an executive at a small business, I needed to learn more about the finance side of the corporate world. Mr. Lin's training programs were very helpful in allowing me to become a better executive.

Richard Mallah
Vice President of Technology
Synamed

Hamilton Lin did an extraordinary job demystifying the seemingly dizzying world of mergers & acquisitions and crystallized it into simple and understandable concepts. His extensive knowledge and experience was evident in his ability to break down the mainstream valuation methods and techniques used in the industry. The course not only exceeded my expectations but is a 'must' for anyone considering a career in investment banking.

Dorn Redd
Structured Products
Deutsche Bank

I work in equity research and wanted to get a better understanding of the business. Hamilton Lin gave us a solid explanation of how companies are valued by M&A bankers and walked us through the process using materials from actual deals. He demonstrated great adeptness of the inner workings of the valuation model as well as all of the calculations that back up every valuation multiple in the model. I would highly recommend him to those interested in learning more about the business.

Linda P. Chiao-Kwan
Equity Research
Banc of America Securities

I thought the instructor was very effective and knowledgeable. Besides the excellent teaching method, it was good to see the instructor remain energetic and humorous throughout the class. I would definitely recommend the course, especially to anyone who is in the industry or would like to learn more about the industry."

Bohee Rhee
Analyst
Competitrack

Although the chilled & foggy weather made my commute a bit harrowing, ARC School of Finance's "Corporate Valuation and Financial Modeling" programme was worth the trip and every penny. After the three day course, I went back to work with renewed vigour and greater sense of confidence. Tapan, Manoj, Himanshu [the instructors] stepped into the trenches with us and shared their wealth of knowledge as well as, some amusing personal experiences. The class seemed less like a lecture and more of a personal 'hands-on' environment. I would recommend ARC to both seasoned veterans, hoping to build on their existing knowledge, and valuation neophytes just getting into the industry. ARC has all the tools and resources available for those who want to succeed in the Investment banking business.

Rajendra Narayan Bhatta
Research Analyst
Leading Brokerage House

Learning becomes the most interesting when you can actually relate it to what is happening around you in the real life. This is exactly where ARC School of Finance scores very high. Discovering and exploring the practical aspect of the theoretical concepts that we may have studied at some point or another, makes the course a high-quality experience. The welcoming and considerate faculty makes it all the more easier for students to understand and apply a concept. All in all, the 'Research and Valuation' course at ARC – WST has taught me about the intricacies of the financial world and makes me feel one step ahead of me peers.

Saloni Jain
College of Business Studies

The focus on giving practical exposure to various valuation techniques through live case studies and help & support even after completion of program sets them apart from others in this field. All in all value for money invested.

Manish Gupta
EXL Services

Wall-street training is a great stepping stone towards a career in corporate finance. The course layout is well designed to cater professionals pursuing careers in investment banking, equity research, corporate development, transaction advisory services and other avenues of the financial world. Aside from the financial knowledge gained, instructors do a great job in advancing the students' Excel skills. I highly recommend taking this course.

Kaz Khoja
M&A Professional

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