School of Investment Management

5 days 21-25 Aug 2017, New York United States $5,414.00 Download brochure Add to basket

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Overview
Delegates of this course will also receive a free copy of John M. Longo’s Audio Book - The Art of Investing: Lessons from History’s Greatest Traders.

 

The last few years have seen a number of forces re-shaping the global investment management industry. Equity volatility, new fixed income products, the growth of hedge funds, commodities and real estate – to name but a few – have contributed to dramatic changes in investor preferences, investment styles and asset allocation. Traditional analytical frameworks and performance measures must now be used together with a new group of tools and metrics to interpret data, trends and performance in this new environment and for newer asset classes.
Join us for this intensive School which will give you the in-depth information you need to advance your investing skills. On completion of  the course you will be ready to implement your new skills into real-world investing activities, with the ultimate objective of increasing returns, reducing risks and attracting (and retaining) investors.

Course highlights include:

  • Devise asset allocation strategies for a post-credit crunch environment
  • Alpha analysis and information ratios in theory and practice
  • Learn and apply the principles of post-modern portfolio theory
  • Construct superior equity portfolios using behavioural finance theory
  • Reassess hedge fund investing in light of recent events
  • Learn how to implement portable alpha strategies via practical applications
  • Assess the opportunities offered by emerging alternative assets
  • Develop frameworks to accommodate real and tangible assets in portfolios

Who should attend

  • Portfolio / fund / asset managers
  • Investment analysts / advisors / strategists
  • Private bankers / investors
  • Heads of investment
  • Pension fund/ trustee managers
  • Regulators, auditors and actuaries
  • Securities sales people
  • Instructors

    We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

    New York
    John Longo

    The course director, CFA is Clinical Associate Professor of Finance at the Finance Department at Rutgers Business School and the Chief Investment Strategist for The MDE Group, a registered investment advisor with $1.5 billion under management. At The MDE Group he is also a Principal in a $100 million hedge fund. Barron’s has ranked The MDE Group as the 4th best independent registered investment advisor in the U.S. for 2007 and 2008. He is author / editor of the critically acclaimed book, Hedge Fund Alpha: A Framework for Generating and Understanding Investment Performance. He has appeared on CNBC, Bloomberg, Fox Business, BBC World and been quoted in The Wall Street Journal, Forbes, and many other media outlets. Previously, he was a Vice President at Merrill Lynch & Co., Inc.

    Venue

    New York

    New York Hotel

    This program takes place on a non-residential basis at a New York hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

    As with all programmes on-site administrators are with you throughout the programme to ensure smooth administration and group interaction.

    Related Courses

    Inhouse


     

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

    To find out more about running this course in-house:





    Our Tailored Learning Offering

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

    inhouse-learn-more

    We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:


    Read more about our offering or complete a call back request to speak to a learning specialist.

     

    Agenda

    Day 1

    Introduction to Investment Management; Equity Analysis

    History of Portfolio Theory – Pre-Markowitz

    Modern Portfolio Theory

    • Markowitz Portfolio Theory
    • Capital Asset Pricing Model
    • Arbitrage Pricing Theory


    Failure of Modern Portfolio Theory

    • Behavioral Finance

    Portfolio Construction and Rebalancing Techniques

    Financial Statement Analysis

    • Ratio Analysis
    • Red Flags
    • Analysis of Business and Strategic Models

    Equity Valuation and Earnings Forecasts

    • Financial Modeling

    Sector Rotation Strategies

    Strategies of Great Investors

    • Benjamin Graham
    • John Templeton
    • Warren Buffett
    • Peter Lynch
    • David Dreman
    • Others

    Case Study: Equity investment management strategies


    Day 2

    Fixed Income Investment Management

    Macroeconomic Analysis

    • Monetary Policy
    • Fiscal Policy


    Interest Rate Risk

    • Duration
    • Convexity


    Yield

    • Yield To Maturity
    • Yield To Call to Worst


    Fixed Income Securities

    • Plain Vanilla Bonds
    • Preferred Stock
    • Convertible Bonds
    • Mortgage Backed Securities
    • Credit Derivatives
    • Sovereign Inflation Protected Securities (e.g. TIPS)


    Credit Risk and Analysis

    Theories of the Term Structure of Interest Rates

    • Pure Expectations Hypothesis
    • Liquidity Preference Theory
    • Market Segmentation Hypothesis
    • Preferred Habitat Theory


    Bond Valuation

    • Prepayment Risk
    • Option Adjusted Spreads

    Passive Fixed Income Strategies

    Active Fixed Income Strategies

    • Substitutions Swaps
    • Inter-market Spread Swaps
    • Rate Anticipation Swaps
    • Pure Yield Pickup Swaps
    • Tax Swaps


    Portfolio Immunization

    • Designing a portfolio to match income needs

    Case Study: Fixed income investment management strategies


    Day 3

    Derivatives and Their Role in Investment Management

    Options and Factors Affecting Option Prices

    Options Valuation

    • Black Scholes Model
    • Binomial Model


    Options Strategies

    • Straddle
    • Covered Call
    • Protected Put
    • Bull Spread
    • Bear Spread
    • Collars


    Portfolio Insurance via Options

    • Futures


    Valuation of Futures Contracts

    • Commodity Futures
    • Financial Futures


    Information Contained In Futures Contracts

    Swaps

    • Equity Swaps
    • Interest Rate Swaps
    • Currency Swaps


    Structured Products

    • Principal Protected Notes
    • Return Enhanced Notes
    • Credit Risk


    Overlay Strategies

    • Portable Alpha

    Case Study: Using derivatives in investment management

    Day 4

    Hedge Funds and Management of Alternatives

    Overview of the Hedge Fund Industry

    • Hedge funds defined
    • History of hedge funds


    Hedge Fund Strategies

    • Long / Short
    • Market Neutral
    • Statistical Arbitrage
    • Fixed Income Arbitrage
    • Activist
    • Merger Arbitrage
    • Event Driven
    • Global Macro
    • Distressed


    Managing a Fund of Hedge Funds Portfolio

    • Carry trades
    • Hedge fund replication
    • Global trends in hedge funds


    Private Equity

    • Leveraged Buyouts (LBOs)
    • Mezzanine Financing
    • Venture Capital
    • J Curve Effect


    Real Estate

    • REITS
    • Commercial Real Estate
    • Timber

    Case Study: Managing a hedge fund


    Day 5

    Risk Management and Performance Evaluation of Investment Portfolios

    International Investing

    • Characteristics of Global Markets
    • Home Country Bias


    Technical Analysis

    • Moving Averages
    • Oscillators
    • Point and Figure Charts
    • Trading Ranges
    • Breakouts


    Risk Management of Investments

    • Risk Levers – Concentration, Liquidity, Quality, Leverage


    Risk Measures

    • Correlation
    • Standard Deviation
    • Semi-Deviation
    • Value at Risk
    • Multifactor Risk Models
    • Introduction to Monte Carlo Simulation


    Efficient Market Hypothesis (EMH)

    • Violations of EMH - Market Anomalies


    Performance Evaluation Techniques

    • Sharpe Ratio
    • Treynor Measure
    • Sortino Ratio
    • Jensen Measure
    • Appraisal Ratio
    • Omega Ratio
    • Value at Risk
    • Upside to Downside Capture


    Theory of Active Portfolio Management

    • Black Treynor Model
    • Black Litterman Model


    Theoretical Size of Alpha

    • Investment Mosaics / Dashboards

    Case Study: Performance Evaluation


    Course Summary

    Why us


    We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product