FIN 366 Investments

• Syllabus: Here

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• Assignment Upload Link: Here

• Trading Game Instructions: Here

• Trading Assignments: TA1, TA2, TA3, TA4, TA5, TA6

• Resume Template and Instructions: Here

• Grade Calculator: Here

• Final Project: Here

• Final Project Rosters: Here

0. The Course Journal

• Available here

I. The Efficient Market Hypothesis & Behavioral Critique

• Lecture Notes

• Excel File: Coin Flip Simulations

• Excel File: Size, Value, and Momentum Portfolios

• Reading: News vs. Opinion in the WSJ

• Critical Thinking and Conceptual Questions (EMH)

II. Markets

• Lecture Notes

• Reading: Lyft Seeks Valuation of Up to $23 Billion in IPO

• Reading: Lyft Shares Surge in Public Debut

• Reading: SPACs are the Stock Market's Hottest Trend

• Reading: The SPAC Ship is Sinking

• Reading: Ending Payment for Order Flow: Easier Said Than Done

• Critical Thinking and Conceptual Questions (Markets)

III. Equity Securities

• Lecture Notes

• Excel File: Order Types

• Excel File: Buying On Margin

• Excel File: Short Selling

• Reading: Why Investors Went Bananas Over AMC Stock

• Critical Thinking and Conceptual Questions (Equities)

IV. Fixed Income

• Lecture Notes

• Excel File: T-Bill Quotes

• Excel File: T-Bond Quotes

• Excel File: Muni Bonds

• Reading: What Investors Should Know About TIPS

• Reading: Muni Bond Boom Is Sputtering as Interest Rates Rise

• Reading: Muni Market Transaction Costs Remain High, Despite Customer Protection Rules

• Reading: How Fannie and Freddie Have Changed Since the Crisis

• Reading: Rising Bond Yields Change the Calculus for Stocks

• Critical Thinking and Conceptual Questions (Fixed Income)

V. Derivatives

• Lecture Notes

• Excel File: Option Payoffs

• Reading: Individual Investors Step Back From Options Bets

• Critical Thinking and Conceptual Questions (Derivatives)

Exam 1 Materials

• Sample Exam

• Formula Sheet

VI. Indices and Investment Companies

• Lecture Notes

• Excel File: Investment Companies

• Reading: How to Beat the Stock Market Without Even Lying

• Reading: The Few Mutual-Fund Managers Who Avoided the Debacle

• Reading: When a Mutual-Fund Converts to an ETF: How It Works

• Critical Thinking and Conceptual Questions (Indices and Investment Companies)

VII. Risk and Return

• Lecture Notes

• Excel File: Geometric Average

• Excel File: Scenario Analysis

• Critical Thinking and Conceptual Questions (Risk and Return)

VIII. Capital Allocation

• Lecture Notes

• Excel File: Inflation and the Risk Free Rate

• Excel File: Capital Allocation

• Excel File: Capital Allocation Line (CAL)

• Critical Thinking and Conceptual Questions (Capital Allocation)

IX. Efficient Diversification

• Lecture Notes

• Excel File: Correlations

• Excel File: Calculating Covariance and Correlation

• Excel File: Investment Opportunity Set

• Critical Thinking and Conceptual Questions (Efficient Diversification)

X. Optimal Risky & The Complete Portfolio

• Lecture Notes

• Excel File: Optimal Risky Portfolio

• Excel File: Complete Portfolio

• Critical Thinking and Conceptual Questions (Optimal Risky and Complete Portfolio)

XI. Many Risky Assets & the Index Model

• Lecture Notes

• Excel File: Index Model

• Reading: Advisers Question Modern Portfolio Theory

• Reading: 'In Pursuit of the Perfect Portfolio' Review: Models and Mavens

• Critical Thinking and Conceptual Questions (Many Risky Assets & the Index Model)

Exam 2 Materials

• Formula Sheet

• PS 2 Additional Version

• PS 3 Additional Version

XII. The CAPM and Multifactor Models

• Lecture Notes

• Excel File: CAPM and SML

• Excel File: CAPM Performance

• Excel File: Size and Value Performance

• Critical Thinking and Conceptual Questions (CAPM and Multifactor Models)

XIII. Equity Valuation: Intrinsic Values and DDM

• Lecture Notes

• Excel File: Expected vs. Required Return

• Excel File: DDM

Reading: Some Companies Haven't Paid a Dividend Since 2020

Reading: The Best Ways to Jump Into Dividend Stocks

Reading: Albertsons Faces Outrage in Aisle Five

• Critical Thinking and Conceptual Questions (Intrinsic Value and DDM)

XIV. Equity Valuation: Discounted Cash Flows and Comps

• Lecture Notes

• Excel File: DCF Valuation

• Reading: SEC Digs Deeper Into Companies' EPS Manipulation

• Reading: Rising Rates Boost Companies' Focus on Working Capital Management

• Reading: The Stock Market Is On Sale. That Doesn't Make It Cheap.

• Critical Thinking and Conceptual Questions (DCF and Comps)

XV. Bond Prices and Yields

• Lecture Notes

• Excel File: Bond Price Calcualtor

• Excel File: Yields and Returns

• Reading: Easing Inflation Ignites Bond-Market Rally

• Reading: Borrowing Among Junk-Rated Firms Slows to a Trickle

• Reading: Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

• Critical Thinking and Conceptual Questions (Bond Prices and Yields)

XVI. Managing Bond Portfolios

• Lecture Notes

• Excel File: Duration

• Critical Thinking and Conceptual Questions (Managing Bond Portfolios)

Exam 3 Materials

• Formula Sheet

• PS 4 Additional Version

• PS 5 Additional Version

• PS 6 Additional Version