In this course, you will start by reviewing the fundamentals of investments, including the trading off of return and risk when forming a portfolio, asset pricing models such as the Capital Asset Pricing Model (CAPM) and the 3-Factor Model, and the efficient market hypothesis. You will be introduced to the two components of stock returns – dividends and capital gains – and will learn how each are taxed and the incentives provided to investors from a realization-based capital gains tax. You will examine the investment decisions (and behavioral biases) of participants in defined-contribution (DC) pension plans like 401(k) plans in the U.S. and will learn about the evidence regarding the performance of individual investors in their stock portfolios. The course concludes by discussing the evidence regarding the performance of actively-managed mutual funds. You will learn about the fees charged to investors by mutual funds and the evidence regarding the relation between fees charged and fund performance. Segments of the portfolios of mutual funds that may be more likely to outperform and examples of strategies designed to “earn alpha” will also be introduced.
Learners are welcome to take this course even if they have not completed "Investments I: Fundamentals of Performance Evaluation," as the first module contain a review of investment fundamentals and regression analysis to get everyone up to speed. Also, the course contains several innovative features, including creative out-of-the-studio introductions followed by quick-hitting "Module in 60" countdowns that highlight what will be covered in each module, four "Faculty Focus" interview episodes with leading professors in finance, and a summary of each module done with the help of animations!
This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
Этот курс входит в специализацию ''Специализация Финансовый менеджмент'
Investments II: Lessons and Applications for Investors
4.8
(оценок: 373)
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Программа курса: что вы изучите
Неделя
12 ч. на завершение
Course Orientation
You will become familiar with the course, your classmates, and our learning environment.
3 видео ((всего 22 мин.)), 7 материалов для самостоятельного изучения, 1 тест
3 видео
Get to know Scott (introductory video used for his iMBA course)6мин
See the “Movie Trailer” for Scott’s Course!1мин
7 материала для самостоятельного изучения
Syllabus10мин
A Preview of Coming Attractions: Introduction Videos for Modules 1-410мин
What You Will Learn: Course Summary with Animations10мин
Learning from the Experts: Full Collection of Faculty Focus Episodes10мин
About the Discussion Forums10мин
Updating Your Profile10мин
Social Media10мин
1 практическое упражнение
Orientation Quiz10мин
3 ч. на завершение
Module 1: Fundamentals and Composition of Returns
In Module 1, we will briefly review the fundamentals of investments, including the trading off of return and risk when forming a portfolio, asset pricing models such as the Capital Asset Pricing Model (CAPM) and the 3-Factor Model, and the efficient market hypothesis. We will also discuss the two components of stock returns – dividends (cash received) and capital gains (changes in price since purchase).
11 видео ((всего 145 мин.)), 3 материалов для самостоятельного изучения, 1 тест
11 видео
1-1.1. Basics of Return and Risk18мин
1-1.2. Capital Asset Pricing Model (CAPM)20мин
1-1.3. 3-Factor Model and Market Efficiency15мин
1-1.4. Interpretation of Regression Model Results13мин
1-1.5. Regression Analysis of Returns to Small-Value Stocks13мин
1-2.1. Dividends, Capital Gains, and Firm Payout Policy14мин
1-2.2. Realization-Based Capital Gains Tax15мин
1-2.3. Seasonality in Stock Returns20мин
Summary of Module 1 with Animations8мин
Like this course? Learn more with the iMBA! (Optional)1мин
3 материала для самостоятельного изучения
Module 1 Overview10мин
Module 1 Lecture Slides10мин
Module 1 Spreadsheet10мин
1 практическое упражнение
Module 1 Quiz34мин
Неделя
23 ч. на завершение
Module 2: Investment Decisions in DC Pension Plans
In Module 2, we discuss the investment decisions of participants in defined-contribution (DC) pension plans like 401(k) plans in the U.S. Not falling prey to common behavioral biases is key to sound financial decision-making in these retirement plans, so we will discuss common behavioral biases of DC pension plan participants.
12 видео ((всего 128 мин.)), 3 материалов для самостоятельного изучения, 1 тест
12 видео
2-1.1. Overview of Key Biases in Decisions9мин
2-1.2. Representativeness4мин
2-1.3. Familiarity Bias and Background Risk22мин
2-1.4. Endorsement Effects7мин
2-1.5. Naïve Diversification18мин
2-1.6. Inertia4мин
2-1.7. Option Confusion5мин
2-1.8. Power of Defaults16мин
2-1.9. Bottom Line on Biases in Investment Decisions7мин
2-2.1. Faculty Focus with Dean Jeffrey Brown (interview)23мин
Summary of Module 2 with Animations3мин
3 материала для самостоятельного изучения
Module 2 Overview10мин
Module 2 Lecture Slides10мин
Module 2 Recommended Reading10мин
1 практическое упражнение
Module 2 Quiz16мин
Неделя
34 ч. на завершение
Module 3: Performance of Individual Investors
In Module 3, we will learn about the evidence regarding the performance of individual investors in their stock portfolios. A few key behavioral biases that affect many individuals will be highlighted, and the potential information embedded in some parts of individual investors’ stock portfolios will be discussed.
14 видео ((всего 223 мин.)), 2 материалов для самостоятельного изучения, 1 тест
14 видео
3-1.1. Overview of the Performance of Individual Investors25мин
3-2.1. Overconfidence17мин
3-2.2. Loss Aversion16мин
3-2.3. Effects of Loss Aversion (Part 1): Loss Aversion & Tax Incentives for Stock Trades18мин
3-2.4. Effects of Loss Aversion (Part 2): Personal Connection to Asset12мин
3-2.5. Effects of Loss Aversion (Part 3): Corporate Finance Decisions9мин
3-2.6. Faculty Focus with Professor Yuhai Xuan (interview)28мин
3-2.7. Effects of Loss Aversion (Part 4): Explanation for Momentum?5мин
3-2.8. Effects of Loss Aversion (Part 5): Importance of Endowment15мин
3-2.9. Emotion and Financial Decisions15мин
3-3.1. Local Investments35мин
3-3.2. Changing Nature of Individual Investors?15мин
Summary of Module 3 with Animations2мин
2 материала для самостоятельного изучения
Module 3 Overview10мин
Module 3 Lecture Slides10мин
1 практическое упражнение
Module 3 Quiz16мин
Неделя
46 ч. на завершение
Module 4: Performance of Mutual Funds and Search for Alpha
In Module 4, we will learn about the evidence regarding the performance of actively-managed mutual funds. We will also discuss a few examples of portfolio strategies designed to “earn alpha” (i.e., yield positive risk-adjusted returns).
17 видео ((всего 279 мин.)), 3 материалов для самостоятельного изучения, 1 тест
17 видео
4-1.1. Overview of Performance of Mutual Funds16мин
4-1.2. Fees and Fund Performance10мин
4-1.3. Brokers and Fund Performance15мин
4-1.4. Trends in Mutual Fund Industry7мин
4-2.1. Introduction to Search for Alpha5мин
4-2.2. Mutual Fund Disclosure6мин
4-2.3. Mutual Funds and Local Investments21мин
4-2.4. Information Networks and Performance21мин
4-2.5. Closet Indexing and Performance Persistence20мин
4-2.6. Valuing Complicated Firms and Exploiting Inattention27мин
4-2.7. Faculty Focus with Professor Joshua Pollet (interview)24мин
4-2.8. Potential Modern Sources of Information19мин
4-2.9. Faculty Focus with Professor Jiekun Huang (interview)19мин
4-3.1 Economics of Mutual Funds28мин
4-3.2 International Evidence on Active Mutual Fund Management15мин
Summary of Module 4 with Animations13мин
3 материала для самостоятельного изучения
Module 4 Overview10мин
Module 4 Lecture Slides10мин
Module 4 Recommended Reading10мин
1 практическое упражнение
Module 4 Quiz22мин
19 минуты на завершение
Course Conclusion
It's now time to say goodbye to the Investments II course! Key takeaways from the course are reviewed. Don't forget to answer the survey question regarding how was Scott's sequel that is located at the end of the Conclusion to Investments II: Lessons and Applications for Investors!
1 видео ((всего 14 мин.))
4.8
Рецензии: 7250%
начал новую карьеру, пройдя эти курсы
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Лучшие рецензии
Excellent class! Very useful information for investing. Great faculty focus sessions with UIUC researchers!. Also love the passion that Dr. Weisbenner displays in teaching. Would highly recommend!
I could have known this course before 2009 recession to be a better investor and its great teaching of behavioral finance . This helped me to identify personal bias in investing .
Преподаватели
Scott Weisbenner
William G. Karnes Professor of FinanceDepartment of Finance, College of Business
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курс входит в онлайн-программу ''Master of Business Administration (iMBA)' от партнера Иллинойсский университет в Урбане-Шампейне.
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О Иллинойсский университет в Урбане-Шампейне
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
О специализации ''Финансовый менеджмент'
This Specialization covers the fundamentals of strategic financial management, including financial accounting, investments, and corporate finance. You will learn to evaluate major strategic corporate and investment decisions and to understand capital markets and institutions from a financial perspective, and you will develop an integrated framework for value-based financial management and individual financial decision-making.
The Financial Management Specialization is part of the University of Illinois iMBA Program. Each course in this Specialization also fulfills a portion of the requirements for a University of Illinois course that can earn you college credit.
When you complete the Financial Management Specialization, you will:
· Have a solid foundation in developing an integrated framework for strategic financial decision-making.
· Have a thorough understanding of financial statements and the financial information they provide, and be able to critically evaluate and analyze cash flows statements.
· Understand the management and evaluation of portfolios and firm valuation techniques.
· Understand how to incorporate risk and uncertainty into investment decisions and understand how companies make financing and investment decisions.
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