FINANCE 367- Investment Management (Mondays and
Wednesdays, 3:30-5:00 PM)
Spring 2012
Faculty Instructor: Daniel Johnedis, CFA, CIC
Phone: 344-9511
Email: djohnedis@cratuscapital.com
Class Room: GSB 5.142A
Office Hours: MW 5-6:30 in GSB 5.142A
Required Textbook: Investments, Bodie, Kane and Marcus, 9th Edition
Suggested Reading: Wall Street Journal, Financial Times
Financial Calculator with functions including IRR, PV, PMT, FV and CF is
necessary and should be brought to each class.
Course Objectives
The Investment Management class is a comprehensive review of the
Investment Management process and provides a basic understanding of
investment analysis and portfolio management. We will follow the textbook,
and focus on those key topics which are relevant to the class. The outline of
the topics is as follows:
Wednesday January 18th:
Introduction to Investments, Part One
Monday January 23rd:
Securities Trading
Wednesday January 25th:
Mutual Funds
Monday January 30th:
Interest Rates and Risk Premiums
Wednesday February 1st:
Portfolio Theory, Risk/Risk Aversion, Part Two
Monday February 6th:
Capital Allocation
Wednesday February 8th:
Optimal Risky Portfolios
Monday February 13th:
Equilibrium in Capital Markets, Part Three
Capital Asset Pricing Model
Wednesday February 15th:
Multifactor models, APT
Monday February 20th:
Market Efficiency
Wednesday February 22rd:
Security Returns
Monday February 27th:
Review and Exam #1 Parts 1-3
Wednesday February 29th:
Fixed Income Securities, Part 4
Bond Pricing and Yields
Monday March 5th:
Term Structure of Interest Rates
Wednesday March 7th:
Managing Bond Portfolios
SPRING BREAK
Monday March 19th:
Security Analysis, Part 5
Macroeconomic and Industry Analysis
Wednesday March 21th:
Equity Valuation Models
Monday March 26th:
Financial Statement Analysis
Wednesday March 28th:
Review and Exam #2, Parts 4-5
Monday April 2nd:
Options and Futures, Part 6
Options Markets
Wednesday April 4th:
Options Valuation
Monday April 9th:
Futures Markets
Wednesday April 11th:
Portfolio Management, Part 7
Monday April 16th:
International Diversification
Wednesday April 18th:
Hedge Funds
Monday April 23rd:
Analyst reports due
Wednesday April 25th:
Active Portfolio Management
Monday April 30th:
Investment Policy
Wednesday May2nd:
Review and Exam #3, Parts 7-8
Wednesday May 9th:
7-10PM Final Exam covering Parts 1-7
Attendance is mandatory and very important as the specific topics of inclusion
for this course will be discussed in each class. There will be required reading
and homework assignments which will be collected. Prompt completion of
homework assignments is essential as it counts towards the final grade for
this course. The students’ grades will be marked down for unexcused
absences, tardiness and talking, or texting during class. The breakdown for
the grade for this course is as follows:
Each of the 3 exams is worth 15%
45%
Analyst report
15%
Homework assignments
15%
Final exam
25%
TOTAL
100%
There will be a guest speaker from a major investment management company
speaking during one of the classes in the Portfolio Management section. There
will be plenty of ‘real world’ examples as the Instructor has over 25 years of
experience as an institutional investment manager.
Prerequisites
Finance 367-Investment Management is a Restricted Course for students who are
currently enrolled in a major program in the College of Business Administration.
Prior completion of Finance 357 or Finance 357 H and its prerequisites are among
the requirements.
Academic Dishonesty
Any student suspected of cheating, including stealing or using stolen exams, will
be disciplined to the maximum extent possible. Review UT Honor Code at
http://registrar.utexas.edu/catalogs/gi09-10/ch01/index.html.
Students with Disabilities
Upon request, the University of Texas at Austin provides appropriate academic
accomodations for qualified students with disabilities. Services for Students with
Disabilities(SSD) is housed in the Office of the Dean of Students, located on the
fourth floor of the Student Services Building. You can register and receive
additional information by going to
http://deanofstudents.utexas.edu/ssd/index.php. You can also contact SSD at
512-471-6259 or 512-471-6441 TTY.
Religious Holidays
By UT Austin policy, you must notify me of your pending absence at least
fourteen days prior to the date of observance of a religious holy day. If you miss a
class, an exam or a work assignment in order to observe a religious holy day, you
will be given an opportunity to complete the missed work within a reasonable
time after the absence.