FINANCIAL INVESMENTLE TUAN BACH FINANCE – BANKING DEPARTMENT

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What are Real Assets? • A real asset is a tangible asset like gold, oil, and real estate. • It has intrinsic value due to its

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Nội dung Text: FINANCIAL INVESMENTLE TUAN BACH FINANCE – BANKING DEPARTMENT

FINANCIAL INVESMENT LE TUAN BACH FINANCE – BANKING DEPARTMENT 06/08/2011 1
CONTENTS NO. CONTENTS 1 INTRODUCTION TO FINANCIAL INVESTMENT 2 RETURN AND RISK 3 INTRODUCTION TO PORTFOLIO THEORY 4 SIMPLE FACTOR AND SIMPLE INDEX MODEL 5 ASSET VALUATION MODELS: CAPM & APT 6 ANALYSIS OF INFORMATION STRUCTURE ON THE FIANANCIAL MARKET 7 BOND ANALYSIS AND INVESTMENT 8 STOCK ANALYSIS AND INVESTMENT 9 INVESTMENT PORTFOLIO MANAGEMENT 10 BEHAVIORIAL FINANCE 06/08/2011 2
REFERENCES • Phan Thi Bich Nguyet – Financial Investment – Statistical Publishing House, 2005. [1] • Richard Oberuc – Dynamic Portfolio Theory and Management – McGraw-Hill 2003. [2] • Frank K. Reilly, Keith C. Brown – Investment Analysis and Portfolio Management - Holt Rinehart & Winston, 1999. [3] 06/08/2011 3
CHAPTER ONE: INTRODUCTION TO FINANCE 06/08/2011 4
REAL ASSETS What are Real Assets? • A real asset is a tangible asset like gold, oil, and real estate. • It has intrinsic value due to its utility. • Its value is derived by virtue of what it represents. 06/08/2011 5
FINANCIAL ASSETS What are financial assets Financial assets include Cash, and those assets that can be converted to cash in a reasonably short period of time - one year at most, but less time in many cases. Financial assets include: • Stocks • Bonds • Rights, Options, Forwards, Futures… 06/08/2011 6
INVESTMENT AND SPECULATION Investor Speculator Relatively long, holding period Very short, holding period a of at least 1 year. few days or weeks. Moderate, rarely high risk. Very short, holding period a few days or weeks. Moderate returns at limited High return at high risk risk. exposure. Fundamental factors, careful Relies on hearsay, tips and evaluation of proposed market psychology. investment. 06/08/2011 7
THE IMPORTANCE OF INVESTMENT RESEARCH  Choose the best portfolio  Evaluate the probability on Stock  Evaluate stock investment risks  Diversification  The stock market works professionally 06/08/2011 8