Intended Learning Outcomes
Intended Learning Outcomes:
The purpose of this class is to help you understand the key areas of security analysis and portfolio management. Please be aware that this is an applications class, with an emphasis on applying what you are learning to real world examples, not just doing problems from the book. As such, they will take significant effort, but should also give significant rewards as well. Experience has shown that each class generally takes between 60 and 100 hours, and more if your Excel skills are weak. Please plan for a minimum of 3-5 hours outside of class for every hour we meet.
There are five major learning objectives for this Internship class. At the end of this class, you should be able to:
1. Demonstrate a grasp of key areas of security analysis. This course will build upon application of the concepts, principles, and terminology you learned in your BM401 and BM410 classes. These skills will help you as you analyze companies for possible direct or portfolio investment, and as you manage your company or personal portfolios. We are bringing together and building upon your common core of investment knowledge necessary for survival and success in the investment world. We will rely on Bloomberg, Compustat, Research Insight, guest practitioners, handouts, and class lectures to meet this objective.
2. Demonstrate an understanding of the types of analysis most prevalent in the finance industry (including industry analysis and company analysis). We will be using the CFA valuation book, and will augment that with guest speakers and personal experience of over 20 years in investment management and research.
3. Apply financial concepts and theories to real-world companies. This class is the application of the things learned to real-life companies and portfolios. There is a considerable gap between the theory and application of financial analysis. This class will help bridge that gap.
4. Conduct company financial research, analysis, reporting, and valuation. This course will require the research, analysis, valuation, evaluation, and reporting on a U.S. or internationally listed company.
5. Present financial analysis and recommendations to the Asset Management team members and GFA Portfolio Managers. You will be making a presentation to the portfolio managers of GFA regarding your analysis and recommendations, and will answer questions regarding your analysis. My goal is to give you the tools and framework so at the end of the year, you will not only know where to get company and industry information, but also know how to analyze it, evaluate it on its investment merits, and to present your ideas to management.