Course curriculum

    1. Introduction

    2. Why Learn to Follow The Money?

    3. Off-Balance Sheet Liabilities

    4. Case Study - The Carveouts

    5. Case Study - "Qualified Securitization Financing"

    6. Types of "Hidden" Financing; Factoring Agreements

    7. True Sale vs. Loan

    8. Reverse Factoring

    9. Inventory Finance

    10. Following the Money - Rob Smith

    11. How do journalists get stories?

    12. Don't be afraid of asking "stupid" or awkward questions!

    13. Sometimes you want them to think you know everything

    14. No one reads the documents. Read the documents!

    15. Lost in translation

    16. "Follow the money"

    17. Red flags and how to spot them

    18. Continual need for capital makes you vulnerable

    19. Supply-chain finance: hidden borrowing

    20. Abengoa and Greensill: "if it smells like debt..."

    21. Factoring: swapping PDFs for cash

    22. Suspect Sanjeev Gupta invoices used in Greensill loans raise fraud concerns

    23. Two-part confirmation

    24. Off balance sheet: beware hidden debt

    25. What do these people have in common? / Margin loans

    26. Debt market tourists

    27. Cash balances: if they're so flush, why are they borrowing money?

    28. Roll up! Roll up!: deal sprees obfuscate accounts

    29. Related party pooper: watch out for unhealthy relationships

    30. Case study: First Brands Group

    31. The tip / The source

    32. First Brands: a few red flags...

    33. The cap stack: what's missing?

    34. First Brands' ballooning factoring costs

    35. Read between the lines of rating agency reports

    36. The Thomas Pynchon of leveraged finance

    37. Jefferies among private credit investors exposed to US auto company invoices

    38. The reaction? / The aftermath

    39. What lies beneath...

    40. Inventory: the new frontier / Missing from the accounts

    41. Onset Financial: "we in da leasing game"

    42. What's the catch?

    43. Conclusion

    44. Following the Money Slide Deck

About this course

  • Free
  • 44 lessons
  • 1.5 hours of video content

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