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Overview

Overview. FINE6200 Investments. Capital market: buy VS SELL SIDE. Financial instruments. Diversification. New York Times, August 31, 2013. Wall Street Journal, September 4, 2013. A brief history: 1998-2013. NASDAQ S&P 500. Student expectations.

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Overview

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Presentation Transcript

  1. Overview FINE6200 Investments

  2. Capital market: buy VS SELL SIDE Financial instruments

  3. Diversification New York Times, August 31, 2013 Wall Street Journal, September 4, 2013

  4. A brief history: 1998-2013 NASDAQ S&P 500

  5. Student expectations • Learn a few things about stocks and bonds for my personal portfolio • Career in asset management • CFA exams • Make sense of financial market news • I already know everything – looking for an easy credit

  6. curriculum • Overview of markets and instruments • Exchange traded funds • Asset allocation • Asset pricing models • Portfolio performance evaluation • Equity portfolio management • Fixed income portfolio management • Behavioural finance Nobel prize worthy CFA Current

  7. About the Course • Tools • Basic algebraic and statistical concepts • Diagrams • Misconception about theory • Basic, fundamental relationships that exist in the complex world of finance • Is it correct? Test with financial data • Evaluation • Closed-book midterm and final exam • Stocktrak group report • Three individual assignments

  8. Stocktrak game • Trading • Portfolio management • Is the market efficient? • Performance evaluation exercise • Stay current with market events

  9. Basic portfolio strategies • Active vs. Passive • Passive not an option in this course • Value vs. Growth • Bottom up vs. Top down • Tactical asset allocation • Allocate funds between/across asset classes • As a strategy, it involves a market timing or opportunistic component: move funds in and out of asset classes, different sectors...etc.

  10. Basic portfolio strategies • Other considerations • Currency: To hedge or not to hedge • Leverage? • Sell discipline • Momentum and other technical analysis • Other strategies? e.g. earnings announcements

  11. Finance (investments) Jargon • Low volatility portfolios video • Please jot down terms and concepts you don’t understand • Will revisit at the end of the course

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