In this course, you will start by reviewing the fundamentals of investments, including the trading off of return and risk when forming a portfolio, asset pricing models such as the Capital Asset Pricing Model (CAPM) and the 3-Factor Model, and the efficient market hypothesis. You will be introduced to the two components of stock returns – dividends and capital gains – and will learn how each are taxed and the incentives provided to investors from a realization-based capital gains tax. You will examine the investment decisions (and behavioral biases) of participants in defined-contribution (DC) pension plans like 401(k) plans in the U.S. and will learn about the evidence regarding the performance of individual investors in their stock portfolios. The course concludes by discussing the evidence regarding the performance of actively-managed mutual funds. You will learn about the fees charged to investors by mutual funds and the evidence regarding the relation between fees charged and fund performance. Segments of the portfolios of mutual funds that may be more likely to outperform and examples of strategies designed to “earn alpha” will also be introduced.
Learners are welcome to take this course even if they have not completed "Investments I: Fundamentals of Performance Evaluation," as the first module contain a review of investment fundamentals and regression analysis to get everyone up to speed. Also, the course contains several innovative features, including creative out-of-the-studio introductions followed by quick-hitting "Module in 60" countdowns that highlight what will be covered in each module, four "Faculty Focus" interview episodes with leading professors in finance, and a summary of each module done with the help of animations!
This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
本课程是 Financial Management 专项课程 专项课程的一部分
Investments II: Lessons and Applications for Investors
提供方
教学大纲 - 您将从这门课程中学到什么
周
1Course Orientation
You will become familiar with the course, your classmates, and our learning environment.
3 个视频 （总计 22 分钟）, 7 个阅读材料, 1 个测验
3 个视频
Get to know Scott (introductory video used for his iMBA course)6分钟
See the “Movie Trailer” for Scott’s Course!1分钟
7 个阅读材料
Syllabus10分钟
A Preview of Coming Attractions: Introduction Videos for Modules 1-410分钟
What You Will Learn: Course Summary with Animations10分钟
Learning from the Experts: Full Collection of Faculty Focus Episodes10分钟
About the Discussion Forums10分钟
Updating Your Profile10分钟
Social Media10分钟
1 个练习
Orientation Quiz10分钟
Module 1: Fundamentals and Composition of Returns
In Module 1, we will briefly review the fundamentals of investments, including the trading off of return and risk when forming a portfolio, asset pricing models such as the Capital Asset Pricing Model (CAPM) and the 3-Factor Model, and the efficient market hypothesis. We will also discuss the two components of stock returns – dividends (cash received) and capital gains (changes in price since purchase).
11 个视频 （总计 145 分钟）, 3 个阅读材料, 1 个测验
11 个视频
1-1.1. Basics of Return and Risk18分钟
1-1.2. Capital Asset Pricing Model (CAPM)20分钟
1-1.3. 3-Factor Model and Market Efficiency15分钟
1-1.4. Interpretation of Regression Model Results13分钟
1-1.5. Regression Analysis of Returns to Small-Value Stocks13分钟
1-2.1. Dividends, Capital Gains, and Firm Payout Policy14分钟
1-2.2. Realization-Based Capital Gains Tax15分钟
1-2.3. Seasonality in Stock Returns20分钟
Summary of Module 1 with Animations8分钟
Like this course? Learn more with the iMBA! (Optional)1分钟
3 个阅读材料
Module 1 Overview10分钟
Module 1 Lecture Slides10分钟
Module 1 Spreadsheet10分钟
1 个练习
Module 1 Quiz34分钟
周
2Module 2: Investment Decisions in DC Pension Plans
In Module 2, we discuss the investment decisions of participants in defined-contribution (DC) pension plans like 401(k) plans in the U.S. Not falling prey to common behavioral biases is key to sound financial decision-making in these retirement plans, so we will discuss common behavioral biases of DC pension plan participants.
12 个视频 （总计 128 分钟）, 3 个阅读材料, 1 个测验
12 个视频
2-1.1. Overview of Key Biases in Decisions9分钟
2-1.2. Representativeness4分钟
2-1.3. Familiarity Bias and Background Risk22分钟
2-1.4. Endorsement Effects7分钟
2-1.5. Naïve Diversification18分钟
2-1.6. Inertia4分钟
2-1.7. Option Confusion5分钟
2-1.8. Power of Defaults16分钟
2-1.9. Bottom Line on Biases in Investment Decisions7分钟
2-2.1. Faculty Focus with Dean Jeffrey Brown (interview)23分钟
Summary of Module 2 with Animations3分钟
3 个阅读材料
Module 2 Overview10分钟
Module 2 Lecture Slides10分钟
Module 2 Recommended Reading10分钟
1 个练习
Module 2 Quiz16分钟
周
3Module 3: Performance of Individual Investors
In Module 3, we will learn about the evidence regarding the performance of individual investors in their stock portfolios. A few key behavioral biases that affect many individuals will be highlighted, and the potential information embedded in some parts of individual investors’ stock portfolios will be discussed.
14 个视频 （总计 223 分钟）, 2 个阅读材料, 1 个测验
14 个视频
3-1.1. Overview of the Performance of Individual Investors25分钟
3-2.1. Overconfidence17分钟
3-2.2. Loss Aversion16分钟
3-2.3. Effects of Loss Aversion (Part 1): Loss Aversion & Tax Incentives for Stock Trades18分钟
3-2.4. Effects of Loss Aversion (Part 2): Personal Connection to Asset12分钟
3-2.5. Effects of Loss Aversion (Part 3): Corporate Finance Decisions9分钟
3-2.6. Faculty Focus with Professor Yuhai Xuan (interview)28分钟
3-2.7. Effects of Loss Aversion (Part 4): Explanation for Momentum?5分钟
3-2.8. Effects of Loss Aversion (Part 5): Importance of Endowment15分钟
3-2.9. Emotion and Financial Decisions15分钟
3-3.1. Local Investments35分钟
3-3.2. Changing Nature of Individual Investors?15分钟
Summary of Module 3 with Animations2分钟
2 个阅读材料
Module 3 Overview10分钟
Module 3 Lecture Slides10分钟
1 个练习
Module 3 Quiz16分钟
周
4Module 4: Performance of Mutual Funds and Search for Alpha
In Module 4, we will learn about the evidence regarding the performance of actively-managed mutual funds. We will also discuss a few examples of portfolio strategies designed to “earn alpha” (i.e., yield positive risk-adjusted returns).
17 个视频 （总计 279 分钟）, 3 个阅读材料, 1 个测验
17 个视频
4-1.1. Overview of Performance of Mutual Funds16分钟
4-1.2. Fees and Fund Performance10分钟
4-1.3. Brokers and Fund Performance15分钟
4-1.4. Trends in Mutual Fund Industry7分钟
4-2.1. Introduction to Search for Alpha5分钟
4-2.2. Mutual Fund Disclosure6分钟
4-2.3. Mutual Funds and Local Investments21分钟
4-2.4. Information Networks and Performance21分钟
4-2.5. Closet Indexing and Performance Persistence20分钟
4-2.6. Valuing Complicated Firms and Exploiting Inattention27分钟
4-2.7. Faculty Focus with Professor Joshua Pollet (interview)24分钟
4-2.8. Potential Modern Sources of Information19分钟
4-2.9. Faculty Focus with Professor Jiekun Huang (interview)19分钟
4-3.1 Economics of Mutual Funds28分钟
4-3.2 International Evidence on Active Mutual Fund Management15分钟
Summary of Module 4 with Animations13分钟
3 个阅读材料
Module 4 Overview10分钟
Module 4 Lecture Slides10分钟
Module 4 Recommended Reading10分钟
1 个练习
Module 4 Quiz22分钟
Course Conclusion
It's now time to say goodbye to the Investments II course! Key takeaways from the course are reviewed. Don't forget to answer the survey question regarding how was Scott's sequel that is located at the end of the Conclusion to Investments II: Lessons and Applications for Investors!
1 个视频 （总计 14 分钟）
4.8
58 个审阅50%
完成这些课程后已开始新的职业生涯
50%
通过此课程获得实实在在的工作福利
热门审阅
创建者 AC•Dec 13th 2016
Excellent class! Very useful information for investing. Great faculty focus sessions with UIUC researchers!. Also love the passion that Dr. Weisbenner displays in teaching. Would highly recommend!
创建者 RB•Dec 7th 2017
I could have known this course before 2009 recession to be a better investor and its great teaching of behavioral finance . This helped me to identify personal bias in investing .
讲师
Scott Weisbenner
William G. Karnes Professor of FinanceDepartment of Finance, College of Business
立即开始攻读硕士学位
此 课程 隶属于 University of Illinois at Urbana-Champaign 提供的 100% 在线 Master of Business Administration (iMBA)。如果您被录取参加全部课程，您的课程将计入您的学位学习进程。
关于 University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
关于 Financial Management 专项课程
This Specialization covers the fundamentals of strategic financial management, including financial accounting, investments, and corporate finance. You will learn to evaluate major strategic corporate and investment decisions and to understand capital markets and institutions from a financial perspective, and you will develop an integrated framework for value-based financial management and individual financial decision-making.
The Financial Management Specialization is part of the University of Illinois iMBA Program. Each course in this Specialization also fulfills a portion of the requirements for a University of Illinois course that can earn you college credit.
When you complete the Financial Management Specialization, you will:
· Have a solid foundation in developing an integrated framework for strategic financial decision-making.
· Have a thorough understanding of financial statements and the financial information they provide, and be able to critically evaluate and analyze cash flows statements.
· Understand the management and evaluation of portfolios and firm valuation techniques.
· Understand how to incorporate risk and uncertainty into investment decisions and understand how companies make financing and investment decisions.
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