Professor Chris Droussiotis, A.C.U.E., C.H.E., M.B.A
It is my pleasure to welcome you to this course. My name is Professor Droussiotis and I will be your instructor for
the duration of this semester. This course is designed to provide you with the knowledge and skills necessary to succeed in
your academic pursuits and beyond.
this course, we will explore a variety of topics and concepts that are relevant to your field of finance. You can expect to
engage in lively discussions, thought-provoking activities, and challenging assignments that will help you develop critical
thinking skills and enhance your understanding of the subject matter.
I encourage you to actively participate in class discussions and ask questions when you have
them. My goal is to create a dynamic and interactive learning environment that will help you achieve your academic goals and
prepare you for your future career.
web space is to provide you with my lecture notes, your homework and project assignments, reading assignments, case studies,
financial modeling spreadsheets and links - Check the menu of classes on the left of this page. The classes offered via multiple
universities' platforms (Blackboard, Canvas, Moodle) are agreegated in this one website. From this website a student has access
to Active Learning (the publishers' assignment platform), access to dropbox (the professor's homework, project and exam dropbox).
I look forward to getting to know each of
you and working with you to achieve success in this course.
Credit Risk Managment and Analysis
Authors: Chris Droussiotis & Stuart Shelly, Edition: Preliminary Edition, Publishing Company:
Cognella Publishing, ISBN 978-1-7935-4099-7
The textbook published by Cognella Publishing company, provides a highly practical
and relevant guide to graduating students beginning their careers in banking. The authors apply their 60 plus years of combined
experience in banking and 15 years of teaching to effectively combine the core principals of an academic textbook with the
practical training that major money center banks provide to first-year credit analysts. This 650+ page textbook incorporates
all the products that major money center banks offer including Corporate Loans, Project Finance, Leasing, M&A and LBO
financing, Real Estate, and other asset-based products. Part I of the textbook gives an introduction of the world of
credit including the basic concepts of credit, the history and role of credit. It then discusses the credit markets and their
place in the overall financial markets. Part II provides the Credit Analyst a detailed introduction to a bank’s
credit analysis process from the time the customer approaches the bank to obtain a loan to the time the bank closes and funds
the loan. It also covers loan underwriting, syndications, and other procedural considerations designed to address risk,
needed to get internal approval, close, and fund the loan. Part III of the textbook introduces the reader with a plethora
of credit products that financial institutions provide to their customers who are seeking financing. Weather a company needs
financing to acquire another company or deciding whether to lease or buy an expensive piece of equipment. Part IV of
the textbook provides the tools and techniques required to perform a financial and credit analysis, as well as basic valuation
techniques on private and publicly traded companies.
An Analytical Approach to Investments, Finance and Credit
Author: Chris Droussiotis,
Edition: First Edition, Publishing Company: Cognella Publishing, ISBN: 978-1-5165-4911-5
This text book is designed to assist junior and senior year
undergraduate students that are in the process of starting their careers in finance. It can also be a reference guide to everything
you need to know about investments, finance and credit. The author demostrates his 30+ years experience in investment banking
and credit analysis working for large money center banks including Bank of America Merril Lunch, CIBC World Markets and Sumitomo
Mitsui Banking Corporation. Part 1 of the book introduces the fundamental concepts of Investments and portfolio analysis including
risk-and-return analysis, covariance, correlation, and efficient frontiers, as well as other performance measurements such
as beta coefficient via regression analysis, R-squared, Sharpe Ratio, CAPM, Jensen’s Alpha, Treynor Measure, and M Squared.
Part 2 of the book describes in detail the primary markets including where the issuers go to raise capital such as stocks,
bonds, 144As, private placements, bank loans, private loans, and other loan syndicated facilities. The book uses various case
studies for raising capital including LBOs, M&A, and other capital market transactions. Part 3 describes the secondary
markets where the investor looks to invest in the equity and corporate bond exhange markets, as well as other unique markets
such as the credit and alternative investments insititutional funds that includes leveraged loans, CLOs, and other structured
finance products. The book also describes extensively the derivative markets including uncovered and covered option strategies,
futures, forwards, swaps, swaptions, CDAs, FRAs, and other exotic derivatives., Part 4 that includes 4 chapters is all about company specific analysis in the areas
of corporate finance, corporate valuations, and credit analysis. This section gives a comprehensive overview of understanding
financial statement analysis, how to build projections and run a valuation analysis (8 methods of valuation) for all stages
of company development. In the last chapter, the book describes in detail the process of credit analysis and debt capacity.as
of finance through the Active Learning platform.
Link to Purchase textbook Via Cognella Publisher, Amazon or Barnes & Nobles
Analyst's Survival Manual - "A practicioner's guide to Active Credit Risk Management and Analysis
Authors: Chris Droussiotis and Stuart Shelly
Whether you're just starting out in your career or looking to take your skills to the next level,
"Credit Analyst's Survival Manual" by C. Droussiotis and S. Shelly is an essential resource that you need to own.
This comprehensive guide is the perfect resource for entry-level credit analysts looking to navigate the recent turmoil in
the banking industry and build a solid foundation in credit risk management and analysis. With practical advice, real-world
case studies, and expert insights by 30+ year veteran bankers, this book covers everything you need to know to succeed
in this dynamic and challenging field. You'll learn how to assess credit risk on various banking products, analyze financial
statements, build financial models and develop effective credit strategies that minimize risk and maximize returns.
BOOK COLABORATIONS BY THE PROFESSOR:
Cryptocurrency Concepts, Technology and Applications
10 professors got
together last year and each wrote one chapter based on their expertise. I wrote chapter 11 "Cryptocurrency Options Analysis
and Valuation". The chief editor and author is Dr. Jay Liebowitz one of my colleagues at Seton Hall University.
the source is more industry-based or academic research, there certainly appears to be a growing interest in the field of cryptocurrency.
The New York Times had a cover story on March 24, 2022, titled "Time to Enter the Crypto Zone?," and they talked
about institutional investors pouring billions into digital tokens, salaries being taken in Bitcoins, and even Bitcoin ATMs
in grocery stores. Certainly, there have been ups and downs in crypto, but it has a kind of alluring presence that tempts
one to include crypto as part of one’s portfolio. Those who are "prime crypto-curious" investors are usually
familiar with the tech/pop culture and feel they want to diversify a bit in this fast-moving market. Even universities are
beginning to offer more courses and create "Centers on Cryptocurrency." Some universities are even requiring their
students who take a crypto course to pay the course tuition via cryptocurrency. In response to the growing interest and fascination about
the crypto industry and cryptocurrency in general, Cryptocurrency Concepts, Technology,
and Applications brings together many leading worldwide contributors to discuss a broad range of issues associated
with cryptocurrency. The book covers a wide array of crypto-related topics, including:Blockchain, NFTs, Data analytics and AI, Crypto crime, Crypto industry and regulation, Crypto and public choice, Consumer confidence, Bitcoin and other cryptocurrencies.
Cases in Financial Management - Applications for Financial Analysis
8 professors got
together and each wrote one chapter based on their expertise. I wrote Case 25 "Green Landscape Inc. Leveraged Buyout
(LBO)". The chief editors and co-authors are Ivan Brick and Harvey Poniachek.
Cases in Financial Management provides original
case studies in corporate finance that are based on actual corporate events, and on the authors' teaching and consulting experiences.
Accompanied by sophisticated and detailed proposed solutions, this case book sheds great clarity on the application of financial
management and market principles for both students and professionals, including consultants, accountants and attorneys who
are advising corporate clients.
Mergers & Acquisitions - A Practitioner's Guide to Successful Deals
13 professors got together last year and each wrote one chapter based on their expertise. I wrote chapter 11 "Leveraged
Buyouts (LBOs): The Financial Engineeing of Transactions and Evolution of LBOS". The chief editor and author is
Dr. Harvey Poniachec, my long life mentor and MBA professor.
he survival and prosperity of any corporation over the long term depend on the company's ability to grow and
develop through a process of investment, restructuring, and redeployment. Since the late 19th century, mergers and acquisitions
(M&As) have become an essential vehicle for corporate change, fuelled by synergies that could arise from expansion of
sales and earnings, reduction in cost, and lower taxes and cost of capital. M&A transactions, however, are complex and risky and are
affected by the state business cycle, financial conditions, regulations, and technology. Approximately two-thirds of all M&A
deals fail. This book seeks to provide an effective and comprehensive framework, predominantly embedded in corporate finance,
for achieving greater success. Written by academics and practitioners, it integrates business strategies with formal analysis
relating to M&A deal making, providing a coherent statement on M&A by utilizing scholarly work with best practices
authors provide extensive analytical review and applications of the following critical M&A issues: valuation, leveraged
buyouts, payment methods and their implications, tax issues, corporate governance, and the regulatory environment, including
antitrust in M&A. The book globalizes the M&A model by extending it to cross-border business, risk and select hedging
methods, and addresses postmerger integration.This book is intended as a reading text for a course in M&A for undergraduates and MBA programs, and for practitioners
as a handbook.
ON-LINE ACCESS TO LIVE CLASSES BY SCHOOL
COLUMBIA UNIVERSITY ONLINE with the Professor via Zoom (Office Hours)
BARUCH COLLEGE ONLINE with the Professor via Zoom
FORDHAM UNIVERSITY ONLINE with the Professor via Zoom
SETON HALL UNIVERSITY ONLINE with the Professor via Microsoft Teams (sign-in)
Email the Professor
For Columbia students: CD3081@columbia.edu
For Fordham students: firstname.lastname@example.org
For Baruch students:
For Seton Hall University: email@example.com
Personal Email: firstname.lastname@example.org
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