This instructor-led course takes participants from pricing a single bond to building and judging a complete portfolio. The morning covers fixed income, equity valuation, and portfolio theory; the afternoon applies that theory to global and alternative investments, indexing, and style investing, and closes with performance evaluation and a capstone case.
Price bonds as the present value of their cash flows, quote yields against benchmarks, and explain the shape of the yield curve.
Duration: 40 minutes
Measure and manage how sensitive bond prices are to changes in interest rates.
Duration: 50 minutes
Value equities with dividend and free cash flow models, using CAPM to set the required return.
Duration: 50 minutes
Build portfolios using the core theories of risk, return, and diversification.
Duration: 45 minutes
Weigh the case for global, emerging market, and alternative investments, and decide who they suit.
Duration: 35 minutes
Evaluate passive investing and choose the right way to replicate an index.
Duration: 40 minutes
Distinguish investment styles and link their performance to rates, the yield curve, and the cycle.
Duration: 45 minutes
Compare managers fairly, explain where returns came from, and present performance honestly.
By the end of this course, you will be able to
Apply the concept of discounted cash flow, or compound interest, to bond valuation
Recognize the significance of bond prices and how bond yields are calculated
Explore strategies for deciding what bonds to buy
Identify duration strategies (modified duration and convexity)
Calculate corporate value
List key elements of the Capital Asset Pricing Model
Discuss how diversifying a portfolio can reduce its risk. Explain how risk and return vary for different combinations of assets, leading to the development of the efficient frontier.
Identify the advantages, benefits, and risks of global investing and investing in emerging markets Recognize key alternative investments
Explain the benefits and disadvantages of using index funds for the investor and the portfolio manager
Identify the role of equity market expectations in earnings growth
Explain the importance of risk adjustment when comparing one portfolio to another
Distinguish between Sharpe's ratio and Treynor's ratio
Discuss performance attribution analysis
•early- to mid-career analysts, portfolio managers, wealth advisors, and treasury professionals comfortable with time value of money, basic statistics, and financial statements.
