《《basic investment》.ppt

Basic Investments Herbert B. Mayo Produced By: Guo Chen 《投资学》第五版 威廉 F 夏普 人大出版社 《投资学》第七版 滋维.博迪 机械工业出版社 《投资学》滋维.博迪 课后习题详解 《投资学导论》(第七版) 赫伯特·B·梅奥 《期权、期货和其他衍生品》约翰·C·赫尔 清华大学出版社 ************************************* Public Mailbox: herbertclass@163.com Pass Words: herbert Email:cherubim1115@ TEL: Part 1 The Basics of Investing Chapter 1 Securities Markets Chapter 2 Review: The Time Value of Money Chapter 3 Portfolio Planning in an Efficient Market Context Chapter 4 The Measurement of Risk and Return Chapter 5 Investment Returns Part 2 The Basic Investment Alternative Chapter 6 Investment Theory: Portfolio Theory And CAPM Chapter 7 Arbitrage Pricing Theory Chapter 8 The Valuation and Selection of Common Stock Chapter 9 The Valuation of Fixed Income Securities Chapter 10 Specialized Investment Companies and Benchmarking Performance Part 3 Derivatives Chapter 11 An Introduction to Options Chapter 1 Securities Markets Contents The Creation of Securities The Issuing and Selling of New Securities Secondary Markets The Mechanics of Investing in Securities The Short Sale Regulation Securities Investor Protection Corporation The Creation of Securities Investments Devote current currency for future income. Two characters: Time Risks Investment in Kind Financial Investment Plant, equipment, inventory, real estate, etc. Bonds, stocks, funds, etc. Intermediary? Direct Investments Indirect Investments Private Placement Public Sale Definition: P4, P474. The disadvantages advantages of private placement Advantages Eliminate the cost (issuance cost time) Avoid the risk of disclosure requirements Meet the lender’s need Gain more control over the firm. Disadvantages Be lack of liquidity. Hight risk. The Issuing and Selling of New Securities The Role of Investment Bankers in IPO Brokerage firm: channel money from investors to firms, do not claims on themselves. Consultant: how to price and sell new stock. Underwritin