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Syllabus for Investment Analysis and Portfolio Management

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Syllabus for Investment Analysis and Portfolio Management
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  July 24, 2012INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT UNIVERSITY OF GONDARCOLLEGE OF BUSINESS AND ECONOMICSDEPARTMENT OF ACCOUNTING AND FINANCEM. SC IN ACCOUNTING AND FINANCE Course Syllabus for I!es #e Aalys$s a% Por fol$o Maa&e#e Course I%e $'(a $o) Course title: I!es #e Aalys$s a% Por fol$o Maa&e#e   Course code:ACFN 631Credit hours:3 Course Des(r$* $o)  The course describes the process of analyzing decisions relating to modern investmenttheories behavioral !nance and securities valuation using both fundamental and technicalanalysis of securities ith reference to their mar#ets industries and companies$ The course ill also deal ith securities% ris#&return trade&o' analysis of modern portfolio theories li#ethe e(cient mar#et hypothesis CA)* A)T and other portfolio theories and !nally itdescribes portfolio selection performance evaluation and management$ Course ob+e( $!es)  The ob+ective of the course is to understand the various !nancial investment avenues ande(cient portfolio management techni,ues and to provide the s#ills re,uired to ta#e correctinvestment decisions selecting the best securities and e(cient portfolio management$ S*e($'( Course Ob+e( $!es) After completing the course students are able to 1$-escribe investment environment.$/btain and interpret investment information from various sources3$-escribe the mechanics in !nancial mar#ets$0$-escribe the *ethods of valuation of !nancial instruments$$-escribe procedure for assessing and measuring the ris# and return of a single assetand a portfolio$6$Capital Allocation Across 2is#y And 2is#&Free )ortfolios$-iscuss the selection of the optimal portfolio based on the *ar#o itz *odel$4$5plain the Capital Asset )ricing *odel 7CA)*8 as a frame or# for basic ris# returntrade&o'$9$-escribe the Arbitrage )ricing Theory 7A)T8 as a model of securityasset pricing as analternative to the CA)*$1;$-escribe active and passive portfolio management strategies11$5valuate the performance of portfolio investments$ Course Schedule: Co e s T$#e Assess#e S*e($'( Rea%$&Ma er$al <niversity of =ondar -epartment of Accounting and Finance )age 1  July 24, 2012INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT C,a* er -) T,e I!es #e E!$ro#e -.- -e!nition of >nvestment -. >nvestment Alternatives -./ >nvestment /b+ectives -.0  The >nvestment )rocess -.1 Clients of the Financial ?ystem -.2  The 5nvironment 2esponds to Clientele -emands -.3 /ngoing Trends    @  e  e   #   1 & odie B$ ane A$D *arcus A$7.;;8$ Investments. 6 th 5dition *c=ra &Eill>r in Ne  or# <$?$A$ C,a* er  ) Or&a$4a $o a% Fu( $o$& of Se(ur$ $es Mar5e s   .-. Functions of Financial *ar#ets .. @here ?ecurities are traded The Primary Market The Secondary MarketsThe Over-the-Counter Market The Third and Fourth Markets ./.  Trading ?ystemsTrading on the 5changes The ParticipantsTypes of Orders .0.  Trading on the /ver&the&Counter *ar#et .1.  Trading Costs .2. uying on *argins .3. ?hort ?ales .6. *ar#et >ndices    @  e  e   #   .   D   3   >  n   d   i  v   i   d  u  a   l   A  s  s   i  g  n  m  e  n   t  s   ?  u   b  m   i  s  s   i  o  n 1$ odie B$ aneA$ D *arcus A$7.;;8$ Investments. 6 th 5dition *c=ra &Eill>r in Ne  or# <$?$A$.$ 2eilly D ro n7.;;8$ Investment  nalysis andPortfolioMana!ement  $ th5dition$ Gohn @ileyD ?ons >nc$ Ne   C,a* er /) Se(ur$ y Aalys$s /.-.  The 5(cient *ar#et Eypothesis2andom @al#s and the 5(cient *ar#et Eypothesis>mplications of the 5(cient *ar#et Eypothesis /.. Fundamental Analysis*acroeconomic Analysis>ndustry AnalysisCompany Analysis5,uity valuation and 5,uity )ortfolio *anagement ondvaluation and ond )ortfolio *anagement /./.  Technical Analysis    @  e  e   #   0        D   6    >  n   d   i  v   i   d  u  a   l   A  s  s   i  g  n  m  e  n   t  s   ?  u   b  m   i  s  s   i  o  n 1$ )andian )$7.;;18$ Security analysis andPortfolioMana!ement  $Hi#as )ublishingEouse )vt$ Itd$Ne -elhi >ndia$.$ 2eilly D ro n7.;;8$ Investment  nalysis andPortfolioMana!ement  $ th5dition$ Gohn @ileyD ?ons >nc$ Ne  Gersey <$?$A$ C,a* er 0) R$s57 Re ur a% Por fol$o T,eory 0.-. Eistorical 2eturn and 2is# for a ?ingle Asset 0.. 5pected 2eturn and 2is# for a ?ingle Asset 0./. )ortfolio 5pected 2eturn and 2is# 0.0. -iversi!cation and )ortfolio 2is#   e  e   #       4    9    D   1   ;   T  e  r  m    )  a  p  e  r  s  u   b  m   i  s  s   i  o  n  a  n   d   )  r  e  s  e  n   t  a   t   i  o  n 2oss ?$ A$@ester!eld 2$ @$D Ga'e G$ F$ 7.;;38 Fundamentals of CorporateFinance $ th5dition *c=ra &Eill J >r in <niversity of =ondar -epartment of Accounting and Finance )age .  July 24, 2012INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT C,a* er 1) Ca*$ al Allo(a $o 1.-. Capital Allocation Across 2is#y And 2is#&Free )ortfolios 1.. )ortfolios /f T o 2is#y Assets 1./. 2is# Tolerance And Asset Allocation 1.0. /ptimal Combination /f 2is#y And 2is#&Free )ortfolios 1.1.  The Capital *ar#et Iine 7C*I8 and the ?ecurity *ar#et Iine 1.2. 5,uilibrium in Capital *ar#ets The Capital Asset )ricing *odel The Arbitrage )ricing Theory    @  e  e   #   1   1    1   .    1   3    D   1   0   C  a  s  e  p  r  e  s  e  n   t  a   t   i  o  n  s   A  n   d   F   i  n  a   l   5    a  m odie B$ ane A$D *arcus A$7.;;8$ Investments. 6 th 5dition *c=ra &Eill>r in Ne  or# <$?$A$ 6$3$1$ C,a* er 2) Por fol$o Maa&e#e a% E!alua $o of Perfor#a(e 2.-. /vervie of )ortfolio *anagement 2.. Active versus passive portfolio management 2./. ?trategic versus tactical asset allocation 2.0. *onitoring and revision of the portfolio 2.1. )ortfolio performance measures 2.1.-. Factors to Consider in *easuring )ortfolio )erformance 2.1.. 2is#&Ad+usted *easures of )erformance  The Sharpe Performance Measure The Treynor Performance Measure Performance Measurement usin!   ensen#s lpha    @  e  e   #   1      D   1   6   C  a  s  e  p  r  e  s  e  n   t  a   t   i  o  n  s   A  n   d   F   i  n  a   l   5    a  m 2eilly D ro n7.;;8$ Investment  nalysis andPortfolioMana!ement  $ th5dition$ Gohn @ileyD ?ons >nc$ Ne  Gersey <$?$A$ 6$3$.$ REFERENCES 1$odie B$ ane A$ D *arcus A$ 7.;;8$ Investments. 6 th  5dition *c=ra &Eill>r inNe or# <$?$A$.$rentani C$ 7.;;08$ Portfolio Mana!ement in Practice $ 5lsevier%s ?cience and Technology 2ights -epartment in /ford <$3$Chandra )$ 7.;;8$ Investment analysis and   Portfolio Mana!ement  $ TATA *c=ra &EillNe -elhi >ndia$ 0$Fabozzi F$ G$ D -ra#e )$ )$ 7.;;98$ Capital Markets& Financial Mana!ement& andInvestment Mana!ement  $ 1; th  5dition Gohn @iley D ?ons >nc$ Eobo#en Ne Gersey<$?$A$$Fabozzi F$ G$ Fundamentals of Investin! $ Gohn @iley D ?ons >nc$ Ne Gersey <$?$A$6$Fabozzi F$ G$ The 'and (ook of Financial Instruments $ Gohn @iley D ?ons >nc$ Ne  Gersey <$?$A$$han *$ $ D Gain =$ $ 7.;;48$ Financial Mana!ement  : Tet and )roblems$ th5dition *c=ra &Eill )ublishing Company Iimited Ne -elhi >ndia$ 4$)andey >$ *$ 719998$ Financial Mana!ement  $ 9 th  5dition Hi#as )ublishing Eouse )vt$Itd$ Ne -elhi >ndia$9$)andian )$ 7.;;18$ Security analysis and   Portfolio Mana!ement  $ Hi#as )ublishingEouse )vt$ Itd$ Ne -elhi >ndia$ <niversity of =ondar -epartment of Accounting and Finance )age 3  July 24, 2012INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT 1;$2eilly D ro n 7.;;8$ Investment nalysis and Portfolio Mana!ement  $ th 5dition$ Gohn @iley D ?ons >nc$ Ne Gersey <$?$A$11$2oss ?$ A$ @ester!eld 2$ @$ D Ga'e G$ F$ 7.;;38 Fundamentals of Corporate Finance $th 5dition *c=ra &Eill J >r in oston$1.$?harpe @$ F$ Aleander =$ G$ D ailey G$ H$ Investments.  th  5dition )rentice Eall Ne  Gersey <$?$A$13$@in!eld 2$ =$ D Curry ?$ G$ Success in   Investment. . nd  5dition Gohn *urray )ublishersItd$ Course Pol$($es A.Classroo# Pol$(y ?tudents should s itch o' their mobile phone hile attending classes and drop it at homeduring eams$ ?tudents should ma#e active participations in class and should for ard ideasto the class hen they are allo ed to do so$ B.Ma5e8u* E9a# Pol$(y >n the case of missing mid&eam ma#e&up eams ill be arranged based up on theagreement bet een the student and the faculty 7>nstructor8 only if relevantdocumentsevidences stating the reason for absence are submitted in not later than one ee# after the test date$ Eo ever the student ill assume the total mar# loss during failureto comply ith this$ *a#e&up eam for !nal eam ill be arranged by the departmentcouncil after considering the relevance of reasons and documents attached therein$ Eencethe department head is your contact person in the case of missing !nal eam$ C.Ma5e8u* (lass Pol$(y  The instructor could arrange ma#e up classes in cases hen regular classes are interruptedfor di'erent reasons$ D.A e%a(e Pol$(y 2egular attendance and punctuality to class are strongly advised$ >rregular attendancedetracts the student%s learning and prevents participation in the important intellectualechanges that occur among students and the instructors$ Eo ever every student needs tohave a minimum of 4;K classroom attendance to sit for !nal eam$ E.Ass$&#e Pol$(y ?tudents must submit assignments and term papers on or before the stipulated timeprovided by the instructor$ /verdue and copied submissions ill not be acceptable andeventually re arded no mar#s$ F. S u%e assess#e s) <niversity of =ondar -epartment of Accounting and Finance )age 0
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