投资组合管理第1章.pptxVIP

投资组合管理INSTRUCTORName ：/actionszdw/ViewTeacher.aspx?NewsID=337TypeName=%e9%87%91%e8%9e%8d%e5%ad%a6%e7%b3%bb李莉（PhD)办公室: 博学楼1203课程答疑时间: 星期三 4-5 pm上课地点：博学楼509上课时间：星期三 1:30 pm-3 pmWHY TAKE THIS COURSE?Investment：投入当前的资金或者资源，以期望获取未来收益的行为Get prepared for your career or further studyGet prepared for the CFA examLearn some investments knowledge for funMaybe earn some money in the stock marketEarn some credit for your studyCourse Description本课程内容与国际CFA Program考试所要求的部分内容一致。本课程将系统地讲授投资学的重要理论和方法。理论包括：投资组合理论，CAPM，APT，利率期限结构理论。方法包括：投资组合分析，净现值定价法，股票和债券的定价。本课程突出理论性和应用性，对投资学中的各项基本理论（如投资组合理论，CAPM，APT等）应用图形、文字、数学推导和实例进行讲授，要求学生掌握这些理论的基本思想和意义，以及在投资实践中的作用，并掌握以Excel为工具对投资学模型进行分析求解。WHY DO WE STUDY THE THEORY？Managers learn from experience how to cope with routine problems. But the best manager are also able to respond to change. To do this you need more than time-honored rules of thumb; you must understand why companies and financial markets behave the way they do. In other words, you need a theory of finance.……Good theory helps you grasp what is going on in the world around you. It helps you to ask the right questions when times change and new problems must be analyzed. It also tells you what things you do not need to worry about.---------Brealey and MyersWHY THERE DOES NOT EXIST ANY ADVICE ON “GUARANTEED” WAYS TO BEAT THE MARKET？Any system designed to beat the market, once known to more than a few people, carries the seeds of its own destruction.There are two reasons for not including advice on “guaranteed” ways to beat the market in this book.First, to do so would make a successful system public and hence unsuccessful.Second, the authors know of such system.This does not mean that financial analysis is useless. Although individuals should be skeptical when others tell them how to use financial analysis to beat the market, individuals can try to understand the market with the use of financial analysis.-------------------W. Sharpe, etc.TEXTBOOK AND REFERENCE(1) 投资学（第6版）（影印版），[美]William?F