The Investor Training Program (ITP) is an introductory course to financial markets and valuation. It trains students in the fundamentals of investing and teaches them the basics for Investment Banking and Sales & Trading interviews.

At the end of ITP, all students who wish to become certified take a final exam and give a stock pitch. Those who complete the course satisfactorily will become certified and have the opportunity to interview to become Analysts.

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• Week 1
• Week 2
• Week 3
• Week 4
• Week 5
• Week 6
• Week 7
• Week 8
• Week 9
• Week 10

Introduction to Markets, Economics, and a Career in Finance — Exchanges and indices, inflation and interest rates, financial institutions.

Equities, Debt, and Other Investments — Characteristics of stocks, bonds, and alternative securities.

Fundamentals of Investing — Risk and return, diversification, beta, cost of capital.

Financial Statements — The three statements, basic principles of accounting.

Valuation — Valuation overview, Enterprise vs. Equity Value, financial ratios, Trading & Transaction Multiples, Leveraged Buyouts.

Discounted Cash Flow Analysis — Unlevered Free Cash Flow, terminal value, discounting, implied share price.

Discounted Cash Flow Analysis Workshop — Students create own models, learn Excel.

Interview Questions and Mastering the Statements — Three statement practice, sample questions for Investment Banking and Sales & Trading interviews.

Sample Stock Pitch + Working Day — Pitch examples, stock picking, working day.

Final Exam & Stock Pitch — Comprehensive final exam, group stock pitches presented to I-Club Executive Board.