The Grab the Map Podcast: Real Estate Investing Info and Advice for All of Us
This podcast is made to work on both mindset and knoweldge of new and established real estate investors alike. The show host is an active real estate investor who offers advi…
HS 328 Course Introduction
Feb. 23, 2011
1-1 Explain the purpose and mechanics of the primary market.
Jan. 14, 2011
1-2 Describe the people associated with the secondary market.
1-3 Describe the institutions of the secondary market.
1-4 Describe the costs of trading, types of transactions, and types of orders an investor can use, and indicate when it is most appropriate to use which type of order.
1-5 Describe the mechanics and the risk exposures associated with selling short, and the mechanics of large secondary market trades.
1-6 Identify the important features of each of the major security laws as they affect investors.
Oct. 21, 2013
1-7 Decide whether to own a security in street name or to order it out, evaluate which type of account is appropriate, and measure thevolume of trading activity in an account.
2-1 Compute a holding period return, a per-period return, an arithmetic mean return, and a geometric mean return.
Jan. 21, 2011
2-2 Compute an expected rate of return and an effective annual rate of return.
2-3 Describe the sources of risk and the most common methods of dealing with each source.
2-4 Describe various measures of risk, and compute the variance and standard deviation for a set of ex post returns
2-5 Describe what is meant by a normal, a lognormal, and a skewed distribution, and identify the forms of kurtosis.
2-6 Explain how a Monte Carlo simulation is performed, and understand its implications in considering an investment strategy.
2-7 Compute the buying power of a margin account, its equity value, the value at which a margin call will be made
3-1 Explain why the combination of two risky securities can produce a portfolio with less risk than either separately, and compute both the expected rate of return and the standard deviation for any two-security portfolio.
Oct. 17, 2013
3-2 Describe how the optimal portfolio for an investor is the tangency between the efficient frontier and the highest possible indifference curve.
3-3 Show why an investor would prefer as low a correlation coefficient as possible for a two-security portfolio.
3-4 Explain why the fact that the "new" efficient frontier as defined by the capital market line (CML) dominates the "old" efficient frontier produced by N risky assets alters one's perception of the appropriate portfolio for an investor to hold.
3-5 Explain the roles of beta and the coefficient of determination in defining the risk of a particular security as part of the capital asset pricing model (CAPM).
3-6 Describe a multifactor model.
July 10, 2013
3-7 Describe why an understanding of modern portfolio theory (MPT) and its legal implications for a practitioner are important for today's financial planner.
4-1 Compute a time-weighted rate of return.
4-2 Compute a dollar-weighted rate of return.
July 29, 2011
4-3 Compute a PPR when there are interim cash flows and convert a sequence of monthly or quarterly rates of return to an annual rate of return.
4-4 Describe some of the more commonly used indices and their deficiencies.
4-5 Identify an appropriate benchmark portfolio.
4-6 Compute the Sharpe ratio to evaluate portfolio performance.
4-7 Compute the Treynor ratio to evaluate portfolio performance.
4-8 Compute Jensen's alpha and the Information Ratio to evaluate portfolio performance.
5-1 Explain the three forms of the efficient market hypothesis (EMH).
5-2 Describe serial correlation tests and filter rule tests, and indicate their significance.
5-3 Define an anomaly and identify various anomalies that have been tested.
5-4 Define the common sentiment, flow-of-funds, and market structure indicators, and indicate which are bullish, which are bearish, and why.
5-5 Describe how bar and point-and-figure charts are constructed, and how one interprets a chart pattern, such as a head-and-shoulders formation.
6-1 Describe the basic features of common stock.
6-2 Value common stock using the constant-growth model.
6-3 Describe the different market-price-based ratios for judging a stock's price.
6-4 Distinguish between growth and value stocks and their role in portfolio management.
6-5 Describe the mechanics of dividend payments.
6-6 Describe the key characteristics of other equity instruments, including ADRs and preferred stock.
6-7 Describe the key characteristics of rights, warrants, and limited partnerships.
6-8 Describe the key characteristics of stock-like instruments used in employee compensation, as well as those of nontraditional investments.
7-1 Describe a business cycle, and explain what is meant by leading, coincident, and lagging indicators.
7-2 Describe the tools of fiscal policy and how they work.
7-3 Describe the tools of monetary policy and how they work.
7-4 Describe the goals and the problems in implementing fiscal and monetary policy.
7-5 Describe the life-cycle of an industry.
7-6 Interpret a balance sheet, an income statement, and a statement of cash flows.
7-7 Analyze a company with respect to its liquidity, use of financial leverage, and profitability.
7-8 Analyze a company with respect to its activity and other ratios, including the use of a Du Pont analysis.
8-1 Describe the key nonmarketable instruments available to a client.
8-2 Explain what is meant by the money market and describe the key money market instruments.
8-3 Describe the various securities and interest rates related to the money market.
8-4 Describe the general characteristics of government and government-related bonds.
8-5 Describe the general characteristics of corporate bonds.
8-6 Explain the process of corporate bankruptcy.
8-7 Describe the different features of mortgage-backed securities.
8-8 Discuss other types of debt instruments, including international bonds, private placements, promissory notes, and insurance-based contracts.
9-1 Compute the price of a bond, given the discount rate, and the yield to maturity, given the price.
Jan. 17, 2011
9-2 Compute the current yield, the realized compound yield to maturity, the yield to call, and the realized rate of return for a bond.
9-3 Identify the factors that influence the price volatility of a bond.
9-5 Explain how to use the duration statistic as an index number, to estimate bond price changes, and as a tool for immunizing a portfolio.
9-6 Discuss bond swaps, ladders, bullets, and barbells as strategies for managing a bond portfolio.
9-7 Describe the term structure of interest rates, and explain the investment implications of the term structure.
June 8, 2012
9-8 Describe several factors that affect bond prices and yields.
10-1 Explain the various characteristics of mutual funds, including their sales fees, benefits, and disadvantages.
10-2 Describe how closed-end funds work.
10-4 Describe the differences between REITs, RELPs, and REMICs.
10-5 Describe the differences between a UIT, a hedge fund, a variable annuity, and a separately managed account.
10-3 Decide whether an ETF or an index fund is more appropriate for a client.
10-6 Identify the important characteristics to consider in selecting an appropriate mutual fund for a client.
10-7 Reconcile the poor average performance of mutual funds with their appropriateness for an investor's portfolio.
11-1 Be conversant in the basic option terminology and the mechanics of the options markets.
11-2 Describe the two reasons options have value, and compute the value for each reason.
11-3 Construct a profit function for a person long or short a put or call option.
11-4 Construct a profit function for combinations of options and stocks.
Jan. 22, 2011
11-5 Describe how the variables used in the Black-Scholes and binomial option pricing models and the put-call parity relationship affect the value of a call option.
11-6 Describe how stock index options, interest rate options, and LEAPS® differ from listed puts and calls on common stock.
11-7 Explain the advantages and disadvantages of convertibles and compute conversion values and conversion premiums.
12-1 Describe the characteristics of the spot market, forward contracts, and futures contracts.
12-2 Describe the institutional framework for trading futures contracts.
12-3 Describe the general characteristics of futures contracts.
12-4 Apply trading strategies using futures contracts, especially with regard to the creation of basis risk.
12-5 Utilize a financial futures contract to hedge market or interest rate risks.
13-1 Explain the basic model of personal taxation, compute a tax liability, and identify the relevant marginal tax rate.
13-2 Compute the cost basis or adjusted cost basis of an investment.
13-3 Determine the tax consequences of various equity investments, including the treatment of capital gains and losses as well as qualified and nonqualified dividend income.
13-4 Discuss the pros and cons of tax-loss harvesting and tax-efficient investing.
13-5 Avoid subjecting a client to violations of the wash-sale rule for various types of investments.
13-6 Compute the tax consequences associated with investing in various types of bonds, including a tax-equivalent yield.
13-7 Describe the tax issues associated with investing in investment companies, options, annuities, LPs and MLPs, as well as futures contracts.
13-8 Demonstrate the tax advantages of net unrealized appreciation on stock distributions from a pension plan, tax-harvesting losses in an IRA account, and the tax implications of converting assets from a traditional IRA to a Roth IRA.
14-1 Describe the nine-step investment process and identify the six common components of an investment policy statement.
14-2 Describe the relationship between the number of securities in a portfolio, the types of securities in a portfolio, and the riskiness of a portfolio.
14-3 Explain the key issues associated with portfolio rebalancing.
14-4 Discuss other aspects of investment selection including investment effort, minimum investment size, ethical and moral issues, different tax treatments, and concentrated portfolios.
14-5 Demonstrate how dollar-cost averaging plans work and describe examples of these plans.
14-6 Describe phenomena associated with behavioral finance and explain the implications of these phenomena for a financial planner.
14-7 Describe strategies for selling the client on a plan.
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