Lecture 1 Sep 5 2011

Lecture 1 Sep 5 2011 - FINA 3104: Investment Analysis and...

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Unformatted text preview: FINA 3104: Investment Analysis and Portfolio Management Lecture 1 – Review of the Syllabus & Course Overview, The Investment Environment and Financial Markets in the US & HK Darwin Cho Darwin Choi September 5, 2011 Investment Investments • What is an investment? • Current commitment of money (or other resources) Expect to reap future benefits • Current vs future: Current vs. future: Sacrifice now and get something back later Expectation • Expectation: The future benefits are uncertain 2 What Do You Do With $6 000 What Do You Do With $6,000? • Scheme $6,000 from the Hong Kong Government • For those who don’t know the details, just imagine that you are suddenly HK$6,000 richer one day… • What are you going to do? • Invest? • Consume? 3 This Course: FINA 3104 This Course: FINA 3104 • How to invest wisely in an uncertain environment (Not how to predict the future!) • Fundamental aspects of investments • Asset classes and financial market Asset classes and financial markets • Money allocation Determination of the fair price of a securit • Determination of the fair price of a security • Evaluating portfolio managers 4 Outline of Today ’s Lecture Outline of Today s Lecture • Review of the Syllabus • Course Overview • Real Assets and Financial Assets Real Assets and Financial Assets • Financial Markets and The Economy 5 Course Information Course Information • Instructor: Darwin Choi (dchoi@ust.hk) • Teaching Assistant: Benson Leung (bbsleung@ust.hk) • Basic concepts you should already know: Expected value, standard deviation, covariance, regression, discount rate, net present value • Mandatory tutorials: T2A, T2B, T2C • Discuss and review concepts, solve problems, go over graded homework assignments • See syllabus for the schedule 6 Required Materia Required Material • Bodie, Kane, and Marcus (BKM): Investments and Portfolio Management, 9 th edition • See Syllabus for the list of assigned readings assigned readings Other materials are optiona • Other materials are optional 7 Lecture Slide Lecture Slides • Slides will be available on the class website 24 hours before each lecture • Official class website: http://lmes.ust.hk • For those who have not registered: http://ihome.ust.hk/~dchoi/FINA3104temp (will be deleted after the add/drop period)...
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Lecture 1 Sep 5 2011 - FINA 3104: Investment Analysis and...

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