Paper LBO

Many candidates associate the paper LBO exclusively with buyout investing interviews. That makes sense, given the name includes “LBO.” However, it’s really a misnomer. The paper LBO concept is now present in many types of interviews, including growth investing! Why is that (you might ask)? It’s a quick and easy way to demonstrate a candidate’s …

Chapter kickoff Read More »

Completed model

FAQ: Should capex be negative? In the video, I show capex as positive in the cash flow calculation. This is correct since the total “Free cash flow” line is SUBTRACTING it, rather than SUMMING all items.