25 Rexare GMBH Environmentally Friendly Paper (list)
1. Approximately how much profit is trees required have been cut, replacepaper from these trees has
been.?
A 9,000
B 125,000
C 1.32 million
D 2.67 million
E 3.74 million
2. Approximately how many trees
29 Yearly Income (list)
1. Other income is expected to drop by 70% in Year 3 and exceptional costs are predicted to double. If
turnover changes as from Year 1 to Year 2, and cost of sales and overheads remain as for Year 2, what will the
percentage change
30 Zone 5 Assembly Line Report (list)
1. If all staff were required to work on assembly line A for cars, approximately how many cars would
be produced a day if staff from other lines are only required to work their normal daily hours?
A 150
B 220
C 290
D
28 World Fossil Fuel Regulation (list) (Practice)
1. At the continued rate of extraction, in how many years is the coal from the Folen Mine likely to run
out?
A 1.5 yrs
B 3 yrs
C 4.5 yrs
D 6 yrs
E 7.5 yrs
2. If there are 22.36 million homes in the UK, app
Chapter 10
10.1
10 1 Bond Characteristics
Bond Prices
and Yields
10-2
U.S. Credit Market Instruments O/S 2008 Q3
U.S. Credit Market Instruments O/S 2008 Q3
U.S. Equity Market (Common)
$19,648 Billion
By Selected Major Borrowers (Not Exhaustive List)
$11,2
Chapter 7
7.1
7 1 The Capital Asset
Pricing Model
Capital Asset
Pricing and
g
Arbitrage
Pricing Theory
7-2
Capital Asset Pricing Model
(CAPM)
Simplifying Assumptions
Equilibrium model that underlies all modern financial theory
Derived using principles of
FINA3080A/B Group project
You are going to form a group of four to five members from your own class.
Tasks
1. P/E and P/B ratios are often used to define value and growth stocks. It is
claimed that firms with lower P/E and P/B ratios produce bigger risk-a
Chapter 11
11.1
11 1 Interest Rate Risk
Managing
Bond
Portfolios
12-2
Interest Rate Sensitivity (cont)
Interest Rate Sensitivity
1. Inverse relationship between bond price and
interest rates (or yields)
4. A bonds price sensitivity is inversely related to
Chapter 6
6.1
6 1 Diversification and
Portfolio Risk
Efficient
Diversification
6.2 Asset Allocation With
Two Risky Assets
6-2
Two-Security Portfolio: Return
o Secu ty o t o o etu
Two Security
Two-Security Portfolio Return
E(rp )= W1 r1 + W2r2
W1 = Proport
Chapter 13
13.1
13 1 Valuation by
Comparables
Equity
Valuation
13-2
Fundamental Stock Analysis:
Models f E it V l ti
M d l of Equity Valuation
Models of Equity Valuation
Basic Types of Models
Valuation models using comparables
Balance Sheet Models
Div
Chapter 12
12.1 The Global E
12 1 Th Gl b l Economy
Macroeconomic
and Industry
y
Analysis
12-2
Framework of Analysis
Framework of Analysis
Fundamental Analysis
y
Approach to Fundamental Analysis
Analysis of the determinants of firm value,
specifically
Chapter 1-4
14
Real Versus Financial Assets
Essential nature of investment
Reduce current consumption in hopes of greater
future consumption
Investments:
Background and
Issues
Real Assets
Used to produce goods and services: Property,
plant & equipment
Chapter 8
8.1
8 1 Random Walks and the
Efficient Market
Hypothesis
The Efficient
Market
Hypothesis
8-2
Implications of Efficiency
Efficient Market Hypothesis (EMH)
Do security prices accurately reflect information?
Informational Efficiency
Are price cha
FINA3080 EFG
Spring 2017
Prof. Jie CAO
Prerequisite Review for FINA 3080 EFG
Instructions: Although these problems are optional and will not be graded, you should
ensure that you are comfortable with the statistical, mathematical, and financial
concepts a
Syllabus, FINA 3080 EFG, Spring 2017, Prof. Jie CAO
DEPARTMENT OF FINANCE
THE CHINESE UNIVERSITY OF HONG KONG
FINA 3080 EFG: Investment Analysis and Portfolio Management
Spring 2017
Time and Location:
Session E: Monday
2:30 - 5:15pm, YIA Bldg 503
Session
6 Commnet and Intercall (bar)
E
B
3. Commnet Commnet Intercall
A. 10%
B. 11%
C. 12%
D. 13%
E.
4. Commnet Intercall
A. 12%
B. 14%
C. 16%
D. 18%
E.
5. Intercall Commnet IntercallCommnet
A. 1:3
B. 1:2
C. 2:1
D. 3:1
E.
23 Philippine Economic Summary (list)
C
A
3. In which year was the geartest number of people unemployed in Philippines?
A. 1997
B. 1998
C. 1999
D. 2000
E. Cannot say
4. What was the percentage increase in population from 1997 to 1999?
A. 12.5%
B. 15.0%
C.
24 Red Pertroleum Inc-6 Month Target Review (list)
1. 6 total oil production cost
A 2 million
B 18 million
C 109 million
D 404 million
E 414 million
2. What was the approximate cost of total oil production in Month 1?
A 2.25 million
B 4.23 million
C 7.12
FINA3080 Investment Analysis and
Portfolio Management
Chris Leung, Ph.D., CFA, FRM
Email: chrisleung@cuhk.edu.hk
1
Lecture 5
Market Efficiency
2
Can you predict stock performance?
Hanergy Thin Film Power Group Ltd
566:HK
Hong Kong
3
Can you predict stock
Measuring Ex-Post (Past) Returns
Chapter 5
One period investment: regardless of the length of the
period.
period
Holding period return (HPR):
HPR = [PS - PB + CF] / PB
where
PS
= Sale price (or P1)
PB
= Buy price ($ you put up) (or P0)
CF
= Cash flow duri
Exercise One
Ch2 Q8
Consider the three stocks in the following table, P1 represents price at time t and Q1
represents shares outstanding at time t. Stock C splits two-for-one in the last period.
P0
Q0
Exercise Two (Due on Nov 10, 2015)
Question 1
Use the Fama & French 3-factor model to evaluate the funds performance and describe the
characteristics of the fund you investigate.
(You ONLY need to analyz
FINA3080 EFG: Spring 2015
Problem Set 3 (Option Valuation)
Prof. CAO
Hello and welcome to Problem Set #3!
No need to submit and solution will be provided on Blackboard.
:
Suppose that IBM stock pays no dividends and is currently priced at $50. Below, we w
FINA 3080EFG: Spring 2015
Problem Set 2 (Stocks and Portfolio Theory)
Prof. CAO
Hello and welcome to Problem Set #2!
There are 4 required questions (150 points total)
The problem set is due in the class, or the homework drop box in CYT Building (with labe
FINA 3080 EFG
Investment Analysis and
Portfolio Management
Prof. Jie CAO
Lecture 6A
Risk Aversion and Capital Allocation
FINA 3080 EFG Spring 2015 Prof. Jie CAO
1
Lecture 6A Outline
Properties of the investment environment
Preview of the portfolio choice
About Myself
Name: CAO, Jie (Jay) Chinese:
Ph.D. in Finance (2009) from
FINA 3080 EFG
Investment Analysis and
Portfolio Management
McCombs School of Business, University of Texas at Austin
Assistant Professor in Finance at CUHK since Aug 2009
Office
Lecture 7 Outline
The benefit of diversification
FINA 3080 EFG
Investment Analysis and
Portfolio Management
Constructing the efficient frontier by many risky asset
Optimal risky portfolio and complete portfolio
Portfolio separation theorem
Summary of
Portfolio
Performance
Evaluation
1
8
1
OUTCOMES
Apply different performance measures to
evaluate portfolio return
Calculate performance attribution
2
18.1 RISK-ADJUSTED RETURNS
In order to tell how well your investment perform,
you have to decide the met
Efficient
Diversificatio
n
6
OUTCOMES
CHECK IF YOU CAN DO/UNDERSTAND THE FOLLOWING
AFTER CLASS
Understand systematic and nonsystematic
risk
Appreciate the benefit of diversification
Allocate two risky assets
Efficient diversification with many assets
Behavioral Finance
and
Technical Analysis
9
1
OUTCOMES
CHECK IF YOU CAN DO/UNDERSTAND THE FOLLOWING
AFTER CLASS
Behavioral biases and their effect on
investment decisions
Application of technical analysis to
investment decisions
2
9.1 BEHAVIORAL CRITIQU
The Efficient
Market
Hypothesis
8
1
MY BELIEVE
See Graham rules 1137.xls
Those with computers/smartphone, try one
stock to see if we can have one fulfilling the
rules.
OUTCOMES
CHECK IF YOU CAN DO/UNDERSTAND THE FOLLOWING
AFTER CLASS
The Efficient Market