UC Berkeley Haas School of Business Fisher Investments

Course Topics

Introduction

  • Thinking Like a Money Manager
  • Investing is a multidisciplinary job: Economics, Math, Science, Psychology
  • An introduction to staying current and navigating the financial press

Who Invests and Why?

  • Various investors and uses of investing
  • Investment objectives, time horizon and cash flow
  • The role of uncertainty

The Investment Universe

  • Scope of the major asset classes
  • The topography of the world stock market
  • Emerging vs. developed markets
  • Accessing global markets

A Brief History of Capital Markets and Investment Management

  • Does history matter?
  • Early financial market history
  • Advent of the modern era
  • Major capital market events since 1926

Today’s Investment Management Landscape

  • Advice providers
  • Investment products
  • Account structures

Trading

  • The buy side and sell side of Wall Street
  • The life cycle of a trade
  • Transaction costs and execution considerations

Behavioral Finance

  • What cognitive errors do investors commonly make?
  • How does our brain blindside us?
  • Is it possible to control our emotions when investing?
  • Can human behavior explain bubbles and crashes?

A Practical Approach to Modern Portfolio Theory

  • Benchmarks
  • Active management
  • Risk control
  • The human element

Forecasting Techniques

  • What defines bull and bear markets?
  • Forecasting frameworks
  • Supply, demand and securities pricing

Common Investment Strategies

  • Broad vs. narrow mandates
  • Active vs. passive
  • Quantitative vs. fundamental
  • Style-based investing
  • Alternative investments

Developing and Applying Capital Markets Technology

Develop:

  • The Scientific Method in investing
  • Correlation, regression, and statistical significance
  • Developing drivers and investment themes

Apply:

  • Are the Twin US Deficits really problematic?
  • Is America truly over-indebted?
  • Does the “low” US personal savings rate matter?
  • Do textbook supply and demand curves apply to investments?

Fundamental Securities Analysis

  • Your expectation vs. market expectation
  • A single security’s role in a portfolio
  • Quantitative analysis
  • Qualitative analysis

Valuation Techniques & Investment Calculations

  • Comparable company analysis
  • Merger comparable analysis
  • Discounted cash flow
  • Performance measurements
  • Risk analytics
  • Monte Carlo simulations

Fisher Investments Securities and Capital Markets Analysts