投资分析RN07_Chapter01.ppt

Copyright ? 2003 by Harcourt Brace Company All rights reserved Investments Wang Luxuan (E-mail:alice2200@) TLReferences: Frank k. Reilly, Edgar A. Norton: Investments , Tsinghua University Press,2006 (Chinese Translation Edition 2009) Zvi Bodie,Alex Kane,Alan J. Marcus: Investments (8th Edition), China Machine Press,2009 About the Course: 1.Class Hour: 40h After Class: at least 40 hours for References reading,checking review 2. Teaching Plan: Class Teaching, Group Discussing, Exercises Examination Brief Contents Introduction(Chapter 1) The Investments Environment(Chap.2-7) Measurement Management of Risk (Chap.8-10) Valuation Analysis of financial instruments(Chap.11-18) Portfolio Management Applications (Chap. 19-21) Chapter 1 THE INVESTMENT SETTING Chapter 1 Questions What is an investment ? What are the components of the required rate of return on an investment? What key issues should investors always consider? What types of investments can we make? Chapter 1 Questions Where do U.S. investors place funds for investment and savings purposes? What are some basic investment philosophies that individual and institutional investors follow? Why are ethics and regulations a concern to all investment professionals? What are some career paths available for persons interested in investments? What is an investment ? An investment is the current commitment of resources for a period of time in the expectation of receiving future resources that will compensate the investor for: the time resources are committed the expected rate of inflation the uncertainty of future payments What is an investment ? Is hiding money in a mattress or keeping it in a piggy bank an investment ? No! The “safe-keeping” of money does not involve any exp