Dr. Philippe Masset and Dr. Jean Philippe Weisskopf are both associate professors at EHL specializing in Empirical Finance and Wine Economics. They are founding members of the Alliance for Research on Wine & Hospitality Management and have written extensively on the subject. Here they share with us some useful tips on vital pre-learning material for any potential student of economics, equity, finance and management. It's not every day that a university reading list involves a manga and 3 films, so fear not the epic, endless novel - here at EHL we are keen to integrate knowledge and insights in all forms.
1. 'Drops of God'
This Japanese manga is a great first insight into the world of exceptional wines from all over the globe. Throughout the series, Shizuku Kanzaki, a wine novice, must correctly identify and describe thirteen wines to gain access to the legacy of his late father. In this quest for the 13 wines, he competes with Toomine Issei, a renowned wine critic, whom his father has adopted and who also claims a right to the legacy. A perfect start for students on the Wine Economics course.
2. 'Barbarians at the Gate'
A film based on a journalistic account on one of the most epic Wall Street battles surrounding the going-private of RJR Nabisco in 1988. The authors tell the story of one of the biggest business deals in history and the involvement of big personalities, big egos, big fees and big everything. Some takeaways include the role of junk bonds, the intricacies of leveraged buyouts and hostile takeovers, moral hazard/conflicts of interest issues involving banks and financial advisors, the crucial role of good valuation work and thorough due diligence, managing public relations, deal confidentiality, managing Board of Directors relations, information security and bid strategy. Excellent preparation for the Private Equity and M&A electives.
3. 'Wall Street'
The classic 1987 film with Charlie Sheen and Michael Douglas which has shaped decades of finance students on how to turn into Wall Street traders. It portrays the typical excess and greed of capitalism and Wall Street in the 1980s. In the story, a young broker, Bud Fox, wants to impress his infamous boss, Gordon Gekko. To make a career in finance, Bud is ready to forego all his principles. A cautionary tale on why greed and short-termism are not always a good idea. An ideal introduction to the Corporate Finance course.
4. 'Inside Job'
A 2010 documentary film about the Global Financial Crisis. In five parts, the documentary examines how changes in the policy environment and banking practices helped create the financial crisis. It takes a holistic view of the fertile ground on which the crisis developed and how the real estate market transformed into a bubble. It further explores what happened during the 18 months of the financial crisis and where we stand in the aftermath. A great place to gain insights into the Portfolio Management and Real Estate Finance course.
