• Bài giảng Financial Markets - Lecture 9: Debt Markets and Term StructureBài giảng Financial Markets - Lecture 9: Debt Markets and Term Structure

    Discount Bonds No coupon payments, just principal at maturity date (conventionally, $100). Initially sold at a discount (less than $100) and price rises through time, creating income.

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  • Bài giảng Financial Markets - Lecture 8: Human Foibles, Fraud, and RegulationBài giảng Financial Markets - Lecture 8: Human Foibles, Fraud, and Regulation

    “Millionaire in the Making” money.cnn.com Dave Farley earns $120k as manager at Ford plant Saves $1600 per month Net worth $270,000 Plans to retire in 10 years age 45with $1 million (at r=3.5% this gives annuity income of $54k for 30 years, half what he consumes now) Calculations imply he expects return of 10%/year.

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  • Bài giảng Financial Markets - Lecture 7: Behavioral FinanceBài giảng Financial Markets - Lecture 7: Behavioral Finance

    Questionnaire, Part I Give 90% Confidence Interval How much does the Statue of Liberty weigh, in tons? (entire steel-reinforced copper figure) What is the 2000 population of Turkey? How many square miles in Sahara Desert? Endowment of Yale University as reported in 1998-9 Support of Education Survey? How much, in dollars, does one receive if o...

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  • Bài giảng Financial Markets - Lecture 6: Efficient Markets and Excess VolatilityBài giảng Financial Markets - Lecture 6: Efficient Markets and Excess Volatility

    The Efficient Markets Hypothesis History of the Hypothesis Reasons to think markets are efficient Reasons to doubt markets are efficient Technical analysis Empirical evidence in literature Homework assignment and regressions

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  • Bài giảng Financial Markets - Lecture 5: Portfolio Diversification and Supporting Financial InstitutionsBài giảng Financial Markets - Lecture 5: Portfolio Diversification and Supporting Financial Institutions

    Portfolio Diversification All that should matter to an investor is the performance of the entire portfolio. Mean and variance of portfolio matter Law of large numbers means that spreading over many independent assets reduces risk, has no effect on expected return.

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  • Bài giảng Financial Markets - Lecture 4: InsuranceBài giảng Financial Markets - Lecture 4: Insurance

    Fundamental Insurance Principles and Issues Risk Pooling is the source of all value in insurance Moral Hazard dealt with partially by deductions and co-insurance Selection bias dealt with by group policies, by testing and referrals, and by mandatory government insurance

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  • Bài giảng Financial Markets - Lecture 3: Technology and Invention in FinanceBài giảng Financial Markets - Lecture 3: Technology and Invention in Finance

    Change and Information Technology • Financial markets have shown rapid change in the past • Information technology is an important factor in the change, and portends important changes in the future • Other changes are due to simple invention, and slow public acceptance of new information

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  • Bài giảng Financial Markets - Lecture 2: The Universal Principle of Risk ManagementBài giảng Financial Markets - Lecture 2: The Universal Principle of Risk Management

    Probability and Insurance Concept of probability began in 1660s Concept of probability grew from interest in gambling. Mahabarata story (ca. 400 AD) of Nala and Rtuparna, suggests some probability theory was understood in India then. Fire of London 1666 and Insurance

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  • Bài giảng Financial Markets - Lecture 1: Introductory LectureBài giảng Financial Markets - Lecture 1: Introductory Lecture

    Financial and Insurance as Powerful Forces in Our Economy and Society This course seeks to understand the full role of advanced risk management in our economy and society Finance, insurance, some public finance

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  • Bài giảng Personal Financial - Chapter 14: Retirement and Estate PlanningBài giảng Personal Financial - Chapter 14: Retirement and Estate Planning

    A variety of tax-sheltered opportunities are available for building retirement assets. Tax Sheltering – tax laws allow certain income to remain exempt from income taxes or permit an adjustment, reduction, deferral, or elimination of income tax liability. Retirement – time in life when most of one’s income changes from earned income to employer-ba...

    ppt30 trang | Chia sẻ: nguyenlinh90 | Ngày: 20/07/2019 | Lượt xem: 920 | Lượt tải: 0