An in-depth look at several of the advanced topics surveyed in FIN 631, this course includes bond portfolio management strategies, bond betas and their portfolio impact, option valuation models and hedging, practical use of portfolio insurance and hedging, problems with model-dependent hedging, and the use of futures contracts and their objectives. It covers problems faced by corporate and professional investment managers in their effort to hedge portfolio risks and improve portfolio returns.
- Communicate principles and applications of fixed income security management; the theory of interest rate.determination, the term structure of interest rates, and the measurement and hedging of interest rate risk.
- Discriminate between alternative security combinations which have better use in portfolio hedging than the use of derivative securities as a hedging strategy.
- Use the pricing principles of derivative securities.
- Evaluate the theoretical and practical benefits of managed futures trading programs.
- Evaluate hedging alternatives.
- Evaluate factors that have an impact on the prices of derivative securities and their underlying securities.
- Compare and contrast currently used corporate securities and derivatives securities.
- Make decisions in the money, capital and commodity markets using appropriate ethical standards.
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