Syllabus_Fin580_Spring2011 - FIN 580 Hedge Funds Instructor...

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1 FIN 580 Hedge Funds Instructor: Professor Z. Jay Wang Office and Contact: 463 Wohlers Hall, Phone: 265-6598, Email: [email protected] Office Hours: MW 1pm to 2pm or by appointments Lectures: MW 2pm to 3:20pm (HF1) and 3:30pm to 4:50pm (HF2) at 152 Wohlers Course Overview The course will provide an in-depth study on the institutional features of hedge funds and some popular equity trading strategies. We will start with an overview of the hedge fund industry. In particular, we will discuss the role of hedge funds in the recent financial crisis and the key lessons learned from the crisis. Next, we will introduce two key instruments used in hedge fund trading: leverage and short selling. The rest of the course will provide detailed coverage on the following equity trading strategies: long/short equity hedge strategies based on both quantitative models and fundamental analyses, event-driven strategies including merger arbitrage and spin-off arbitrage, closed-end fund arbitrage, and hedge fund activism. Pre-requisite Fin511: Investments Recommended Textbook Investment Strategies of Hedge Funds, by Filippo Stefanini, Wiley Finance, 2006. Required Course Packet Available at Illini Union Bookstore Grading The grading is based on two group projects (30 points), two individual project (50 points), other in-class assignments and class participation (20 points) . The project details are described as follows. (1) Project #1 (Group, 15 points): Short Selling Identify a public company that you want to short sell based on fundamental analysis (2) Project #1 (Individual, 30 points): Building an Alpha Model Step 1: Use a multi-factor model to rank and sort stocks based on their expected
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Syllabus_Fin580_Spring2011 - FIN 580 Hedge Funds Instructor...

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