ADMS 4501A – Advanced Portfolio Management Summer (SU) 2016 – Outline (as of April 22) Section M: Thursday : 11:30am-2:30pm Room: HNE 032 Instructor : Lois King Email : loisking@yorku.ca Moodle All files you will need for this 4501 course are kept on a platform called Moodle. Please see Page 2 for accessing Moodle Calendar Description: This course undertakes a rigorous study of the theory and empirical evidence relevant to professional portfolio management. Students learn tools which enable them to manage risks, allocate among asset classes, detect mispriced securities, and measure the performance of portfolio managers. Prerequisite / Co-Requisite: Prerequisites: AK/ADMS 3330 3.00; AK/ADMS 3531 3.00. (please note you will be de-enrolled if you do not have these pre-reqs) Course credit exclusion: AK/ADMS 4500 3.00 (prior to Summer 2006). Required Course Text / Readings: Investment Analysis and Portfolio Management, FIRST CANADIAN EDITION Authors: Reilly, Brown, Hedges, Chang (Publisher: Nelson 2010) Additional Readings will be assigned Expanded Course Description: This course takes both a theoretical and real-world approach to studying portfolio management. It includes both an overview of modern portfolio theory as well as practical economic, industry and equity analysis. Current real-world issues such as the global financial crisis are incorporated into the course and students are expected to be ready to discuss current events as they affect portfolio management. Guest speakers from the financial industry make regular appearances. Group assignments and presentations are part of the course. 1 Organization of the Course: Week Date: Section A (Lois King) Material: 1 May 12 Overview of Portfolio Management Ch.1 - The Investment Setting Ch.3 - Global Investing (p.51- 57; 66-68 only) Summary of the 2008 Financial Crisis 2 May 19 Ch.2 - The Asset Allocation Decision Articles: What went wrong at Harvard and U of T? Sick Kids Foundation Group Presentation Topics assigned 3 May 26 Ch.8 - Economic & Industry Analysis 4 June 2 Ch.6 - Review of MPT (self study!) Ch.7 - Asset Pricing Models (CAPM & APT) Group Presentation check-in ď outline /draft slides required by Friday June 3 at 10pm (5%) (Submit online to loisking@yorku.ca) 5 June 9 Ch.17 - Money Management & Alternative Investments (p.531-558 only) 6 June 16 11:30am to 2:30pm Midterm Exam (50%) The midterm exam will cover topics taught in Lectures 1 to 5 7 June 23 Ch. 9 - Stock Analysis (p 231-247;255-257;266-269) plus CIBC handout 8 June 30 No formal lecture – Instructor away Online assignment (10%) due by 10pm (opens 10am) Good time for groups meet for presentation work 9 July 7 Ch.11 - Bond Fundamentals (self- study) Ch.16 - Bond P/M Strategies (pages 492-510;516-518) Ch 15 - Equity P/M Strategies (pages 455-477) Group presentations 1-2 10 July 14 Guest Speaker Group Presentations 3-5 11 July 21 Group Presentations 6-11 Final Exam Review/Discussion 12 July 28 11:30am to 1:30pm Final Test (in-class – 25%) The final test will cover topics taught in Lectures 7-11 2 Weighting of Course Midterm Exam 50% Online assignment 10% Group Presentation 15% Final Test 25% Additional Information/Notes: Moodle All files you will need for this 4501 course are kept on a platform called Moodle. You can access Moodle two ways: 1. Click on the “Moodle” folder on the right-hand side of the regular York course website (see URL on top of previous page) 2. Go to York's Moodle site: https://moodle.yorku.ca Login on top right-hand corner with your Passport York ID and password. Click on AP/ADMS 4501 A – Advanced Portfolio Management link MISSED EXAMS Please note that if a student misses a midterm or final test due to a medical reason, an Attending Physician’s Statement (not just a medical note) will be the required standard documentation. See Forms and Policies section below. If the midterm exam is missed for a legitimate reason, the student will be required to write a comprehensive exam at the final test. If the final test is missed, the student will be required to write a deferred final exam in September. There are no alternate midterms or alternate final tests. If a student misses both the midterm and final test, the student will not be permitted to apply for deferred status. (see page 4) Instead the student must petition to write the deferred exam or petition for late withdrawal from the course. Forms and Policies Attending Physician's Statement form, for missed midterm or missed final exam: http://www.registrar.yorku.ca/pdf/attend_physician_statement.pdf DSA Form, for missed final exam: http://www.registrar.yorku.ca/pdf/deferred_standing_agreement.pdf DSA Process for ADMS classes: http://www.yorku.ca/laps/sas/links.html 3 In the Course Outline portion of the standard York class website, there is an Academic Policies/Information section with links to various York policies. Deferred Standing – Missed Final Examination Deferred standing may be granted to students who are unable to write their final examination at the scheduled time or to submit their outstanding course work on the last day of classes. In order to apply for deferred standing in an ADMS class, students must register at http://apps.eso.yorku.ca/apps/adms/deferredexams.nsf. Immediately after registering, hand in a completed DSA form (print out the form from link below) and supporting documentation directly to the main office of the School of Administrative Studies (282 Atkinson) and add your ticket number to the DSA form. The DSA and supporting documentation must be submitted no later than five (5) business days from the date of the exam. These requests will be considered on their merit and decisions will be made available by logging into the same link as above: http://apps.eso.yorku.ca/apps/adms/deferredexams.nsf. No individualized communication will be sent by the School to the students (no letter or e-mails). Check the SAS website http://www.yorku.ca/laps/sas/links.html for any updates to the DSA registration process. Students with approved DSAs will be able to write their deferred examination during the School’s deferred examination period, which is normally held in the first three weeks of the next semester. No further extensions of deferred exams shall be granted. The format and covered content of the deferred examination may be different from that of the originally scheduled examination. The deferred exam may be closed book, cumulative and comprehensive and may include all subjects/topics of the textbook whether they have been covered in class or not. Any request for deferred standing on medical grounds must include an Attending Physician's Statement form (see link below); a “Doctor’s Note” will not be accepted. Students are strongly encouraged to write the regular exam. Deferred students typically get lower marks, and many fail. It is the policy of the Admin Studies finance area that instructors will NOT sign a DSA form if you miss both the midterm and final exams. Students in this situation will need to petition for a deferred or a late withdrawal or some other remedy appropriate to their circumstances. 4