FINA 3104 Syllabus Fall 2015 - Hong Kong University of Science and Technology FINA 3104 Investment Analysis and Portfolio Management Fall 2015

FINA 3104 Syllabus Fall 2015 - Hong Kong University of...

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1Hong Kong University of Science and Technology FINA 3104: Investment Analysis and Portfolio Management Fall 2015 Instructor:Prof. Darwin Choi Office: LSK Room 5058, Email: [email protected], Phone: 2358-7672 Website: Office Hours: By appointment Lectures:Section L3:Wednesdays and Fridays 1:30 – 2:50pm, LSK Room 1034 Section L4:Wednesdays and Fridays 4:30 – 5:50pm, LSK Room 1034 Section L5:Wednesdays and Fridays 3:00 – 4:20pm, LSK Room 1034 Tutorials: Section T3:Fridays 11:00 – 11:50am, LSK Room 1003 Section T4:Fridays 1:30 – 2:20pm, LSK Room G003 Section T5:Fridays 6:00 – 6:50pm, LSK Room 1011 (Note: Tutorials do not meet every week. See Section 5 for the schedule.) Course Website: (All course materials, including slides for lectures and tutorials, homework assignments, practice problems, past exams, and references, will be posted there.) Teaching Assistant:Mr Benson Leung Office: LSK Room 5068, Email: [email protected], Phone: 2358-7689 Office Hours: By appointment 1.Course Description This course provides you with an introduction to the most fundamental aspects of investments. You will learn how to trade on financial exchanges, how to allocate money across several different types of securities/assets (how to investrather than speculate), how to determine the fair price of a financial security, and how to determine whether a portfolio manager is doing a good job. You will also learn how to manage a portfolio consisting of
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2fixed-income securities, and how to price, trade, and use derivative securities such as futures and options. During the course we will come across some of the most important and influential concepts of finance theory: the Markowitz Portfolio Selection Model, the Capital Asset Pricing Model (CAPM), the concept of arbitrage, and the Black & Scholes option pricing formula. These concepts are so important that Nobel prices have been awarded for their discovery! During this course you will also gain and improve your software skills in using the spreadsheet program Microsoft Office Excel and the financial data base REUTERS. These are valuable skills to have when you are looking for a job in the finance industry. 2.Prerequisites Prerequisite for this course is the successful completion of FINA 2203/2303 (or its equivalent). Some of the material we will cover is quite technical. It is therefore advisable for you to review basic mathematical and statistical concepts, e.g., net present value, interest calculations, probability theory, and regression analysis at the beginning of the course. It is also very important that you familiarize yourself with the spreadsheet program Microsoft Office Excel. We will be using this program extensively throughout the semester. In the past, many students have wasted a lot of time simply because they did not know how to use Excel effectively. If you have never used Excel, I strongly recommend that you go through the self-guided Excel tutorial from the textbook Excel Applications for Investments by Troy A. Adair, Jr., McGraw Hill Irwin International.
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