Catalog Search Results
Author
Series
Great Courses volume 21
Language
English
Description
Begin your examination of derivative securities, first by defining them and then by looking at option contracts called "puts" and "calls." Also examine how a lack of transparency in a type of derivative called credit default swaps contributed to instability during the financial crisis of 2008.
Author
Series
Great Courses volume 1
Language
English
Description
When it comes to wealth, more is better. But how important is liquidity to you? How important is risk? How important is being able to leave a legacy to members of your family or to causes you hold dear? As preparation for the course, consider these and other personal goals.
Author
Series
Great Courses volume 18
Language
English
Description
Explore three steps for exploiting mispriced securities. First, investigate the strategy of short selling. Then, develop a measure of mispricing called alpha. Finally, use information about a stock's alpha and its volatility to form an optimal risky portfolio.
Author
Series
Great Courses volume 11
Language
English
Description
Get an intuitive feel for the features that raise or lower interest rate risk on bonds. Practice calculating duration, and discover that the time to maturity may not be particularly close to the duration of a bond. This underscores the importance of focusing on the duration of your bond investments.
Author
Series
Great Courses volume 10
Language
English
Description
Learn how to think about the risks of owning bonds. Start by considering interest rate risk. Then examine how default or credit risk affects the yields on bonds. While most investors only want to consider highly rated bonds, significant return can be earned by bearing default risk.
Author
Series
Great Courses volume 19
Language
English
Description
How do you know if an actively managed portfolio is producing worthwhile results? Survey several performance metrics: the Sharpe ratio, the Treynor measure, Jensen's alpha, the M-squared measure, and the information ratio. The measure you need depends on how you are using the portfolio you are evaluating.
Author
Series
Great Courses volume 3
Language
English
Description
It's easy to fool yourself when making important investment decisions. Examine three common cognitive errors: framing, biased self-attribution, and seeing patterns where none exist. These natural human tendencies highlight the need to avoid emotional or illogical reactions to financial information.
Author
Series
Great Courses volume 17
Language
English
Description
Study the characteristics of an equilibrium asset pricing model. Then build the most popular version - the capital asset pricing model (CAPM) - which allows you to measure risk for a portfolio. According to CAPM, the cross- section of returns is driven by common risks that cannot be eliminated through diversification.
Author
Series
Great Courses volume 5
Language
English
Description
Is it possible to make money by actively trading in the market? According to the efficient markets hypothesis, you are better off as a passive investor, because prices almost always reflect true value. Explore three versions of this theory, including the weak form, which holds that prices follow what is called a random walk.
Author
Series
Great Courses volume 16
Language
English
Description
Learn to use regression analysis to quantify the characteristics of a security, particularly its risk and possible mispricing relative to an asset pricing model. One of Professor Slezak's goals is to introduce techniques that allow you to analyze data that is widely available on the Internet.
Author
Series
Great Courses volume 9
Language
English
Description
At a given moment, interest rates vary with the time to maturity of different bonds. Examine the yield curve and the term structure of interest rates, learning how to weigh your investment choices. Discover that bond prices are a window to the expected future performance of the market.
Author
Series
Great Courses volume 14
Language
English
Description
Good investors are not necessarily those who can find good investments, but those who can predict what stocks others will pick. Learn how economists model investor behavior, focusing on the indirect utility function, which can predict people's aversion to variations in outcome.
Author
Series
Great Courses volume 13
Language
English
Description
Use the formulas developed in Lecture 7 to analyze the present value of a firm under different scenarios. By employing a simple model, you will be able to identify how managerial decisions in a well-run company can lead to increased stock price.
Author
Series
Great Courses volume 6
Language
English
Description
Continue your study of the efficient markets hypothesis by investigating data from actual markets. Focus on momentum phenomena and volatility anomalies as possible evidence of market inefficiencies. Are these real opportunities to beat the market or only illusions that snare overconfident investors?
Author
Series
Great Courses volume 7
Language
English
Description
Explore one of the most basic building blocks of any financial valuation method: the concept of the time value of money. Obtain formulas for present value, future value, and net present value. Then use these tools to solve a problem in retirement planning.
Author
Series
Great Courses volume 22
Language
English
Description
Investigate two uses for options: speculation and hedging. Follow the steps for betting on the direction of movement in the price of a security. Then see that hedging is less risky and can be compared to buying insurance. Learn that the important variables in a hedge are the hedge ratio and the option delta.
Author
Series
Great Courses volume 20
Language
English
Description
Probe the nature of liquidity, learning how it is defined, how to measure it, and when to pay the market price for a liquid security. Many less-well-known stocks may be less liquid. But because they are less well-known, they are more likely to be mispriced, presenting potential trade opportunities.
Author
Series
Great Courses volume 8
Language
English
Description
Investigate bond pricing, which compared to stock pricing is beautifully predictable - if complex. Understand why interest rates vary across different bonds. Practice calculating the bond price for a given rate. Then take the price as given, and determine the yield to maturity.
Author
Series
Great Courses volume 23
Language
English
Description
Continue your study of derivatives by looking at the two most popular strategies for pricing options: the binomial method and the revolutionary Black-Scholes formula. The key insight of these pricing models is that you can build structures out of existing securities that behave just like the underlying option.
Author
Series
Great Courses volume 12
Language
English
Description
Consider how the equity returns on two firms that are essentially in the same business can be very different based solely on differences in capital structure. Both can be efficiently priced, but one will have a higher equity return due to its higher leverage and resulting risk.
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