Investment Analysis and Portfolio Management

  1. Advanced Topics and Applied Management
    1. Introduction to Derivatives in Portfolio Management
      1. Using Options for Hedging and Speculation
        1. Protective Puts
          1. Portfolio Insurance
            1. Downside Protection
            2. Covered Calls
              1. Income Enhancement
                1. Opportunity Cost
                2. Option Spreads
                  1. Bull Spreads
                    1. Bear Spreads
                      1. Butterfly Spreads
                      2. Collars
                      3. Using Futures for Hedging and Asset Allocation
                        1. Index Futures
                          1. Equity Exposure Management
                            1. Cash Equitization
                            2. Interest Rate Futures
                              1. Duration Management
                                1. Yield Curve Positioning
                                2. Currency Futures
                                  1. Currency Hedging
                                    1. International Exposure
                                  2. Swap Applications
                                    1. Asset Allocation Swaps
                                      1. Duration Management
                                        1. Currency Hedging
                                      2. Behavioral Finance
                                        1. Overview of Behavioral Finance
                                          1. Traditional Finance Limitations
                                            1. Psychological Influences
                                              1. Market Inefficiencies
                                              2. Cognitive Biases
                                                1. Overconfidence
                                                  1. Illusion of Control
                                                    1. Better-Than-Average Effect
                                                    2. Anchoring
                                                      1. Insufficient Adjustment
                                                        1. Reference Point Bias
                                                        2. Confirmation Bias
                                                          1. Selective Information Processing
                                                          2. Representativeness
                                                            1. Base Rate Neglect
                                                              1. Sample Size Neglect
                                                              2. Availability Bias
                                                                1. Recency Effect
                                                                  1. Vivid Information
                                                                  2. Mental Accounting
                                                                    1. Framing Effects
                                                                    2. Emotional Biases
                                                                      1. Loss Aversion
                                                                        1. Prospect Theory
                                                                          1. Reference Dependence
                                                                          2. Regret Aversion
                                                                            1. Status Quo Bias
                                                                              1. Inaction Inertia
                                                                              2. Endowment Effect
                                                                                1. Ownership Bias
                                                                                2. Herding Behavior
                                                                                  1. Social Proof
                                                                                    1. Information Cascades
                                                                                  2. Implications for Investment Decisions
                                                                                    1. Investor Behavior Patterns
                                                                                      1. Market Anomalies
                                                                                        1. Momentum Effect
                                                                                          1. Reversal Effect
                                                                                            1. Calendar Anomalies
                                                                                            2. Behavioral Portfolio Theory
                                                                                              1. Adaptive Market Hypothesis
                                                                                            3. Alternative Investment Strategies
                                                                                              1. Hedge Fund Strategies
                                                                                                1. Long-Short Equity
                                                                                                  1. Market Neutral
                                                                                                    1. Event Driven
                                                                                                      1. Global Macro
                                                                                                        1. Relative Value
                                                                                                        2. Private Equity
                                                                                                          1. Leveraged Buyouts
                                                                                                            1. Growth Capital
                                                                                                              1. Distressed Investing
                                                                                                              2. Real Estate Investment
                                                                                                                1. Direct Property Investment
                                                                                                                  1. Real Estate Investment Trusts
                                                                                                                    1. Real Estate Private Equity
                                                                                                                    2. Commodity Investment
                                                                                                                      1. Direct Investment
                                                                                                                        1. Commodity Futures
                                                                                                                          1. Commodity-Linked Notes
                                                                                                                        2. Risk Management
                                                                                                                          1. Risk Identification
                                                                                                                            1. Market Risk
                                                                                                                              1. Credit Risk
                                                                                                                                1. Liquidity Risk
                                                                                                                                  1. Operational Risk
                                                                                                                                  2. Risk Measurement
                                                                                                                                    1. Value at Risk
                                                                                                                                      1. Expected Shortfall
                                                                                                                                        1. Stress Testing
                                                                                                                                          1. Scenario Analysis
                                                                                                                                          2. Risk Control
                                                                                                                                            1. Position Limits
                                                                                                                                              1. Stop-Loss Orders
                                                                                                                                                1. Hedging Strategies
                                                                                                                                                  1. Diversification
                                                                                                                                                  2. Risk Monitoring
                                                                                                                                                    1. Risk Reporting
                                                                                                                                                      1. Performance Attribution
                                                                                                                                                        1. Risk-Adjusted Returns
                                                                                                                                                      2. Professional Standards and Ethics
                                                                                                                                                        1. Importance of Ethics in Investment Management
                                                                                                                                                          1. Fiduciary Responsibility
                                                                                                                                                            1. Client Trust
                                                                                                                                                              1. Market Integrity
                                                                                                                                                              2. CFA Institute Code of Ethics and Standards of Professional Conduct
                                                                                                                                                                1. Professionalism
                                                                                                                                                                  1. Knowledge of the Law
                                                                                                                                                                    1. Independence and Objectivity
                                                                                                                                                                      1. Misrepresentation
                                                                                                                                                                        1. Misconduct
                                                                                                                                                                        2. Integrity of Capital Markets
                                                                                                                                                                          1. Material Nonpublic Information
                                                                                                                                                                            1. Market Manipulation
                                                                                                                                                                            2. Duties to Clients
                                                                                                                                                                              1. Loyalty, Prudence, and Care
                                                                                                                                                                                1. Fair Dealing
                                                                                                                                                                                  1. Suitability
                                                                                                                                                                                    1. Performance Presentation
                                                                                                                                                                                      1. Preservation of Confidentiality
                                                                                                                                                                                      2. Duties to Employers
                                                                                                                                                                                        1. Loyalty
                                                                                                                                                                                          1. Additional Compensation Arrangements
                                                                                                                                                                                            1. Responsibilities of Supervisors
                                                                                                                                                                                            2. Investment Analysis, Recommendations, and Actions
                                                                                                                                                                                              1. Diligence and Reasonable Basis
                                                                                                                                                                                                1. Communication with Clients and Prospective Clients
                                                                                                                                                                                                  1. Record Retention
                                                                                                                                                                                                  2. Conflicts of Interest
                                                                                                                                                                                                    1. Disclosure of Conflicts
                                                                                                                                                                                                      1. Priority of Transactions
                                                                                                                                                                                                        1. Referral Fees
                                                                                                                                                                                                        2. Responsibilities as a CFA Member or Candidate
                                                                                                                                                                                                          1. Conduct as Members and Candidates
                                                                                                                                                                                                            1. Reference to CFA Institute
                                                                                                                                                                                                          2. Fiduciary Duty
                                                                                                                                                                                                            1. Duty of Loyalty
                                                                                                                                                                                                              1. Undivided Loyalty
                                                                                                                                                                                                                1. Conflicts of Interest
                                                                                                                                                                                                                2. Duty of Care
                                                                                                                                                                                                                  1. Prudent Investor Rule
                                                                                                                                                                                                                    1. Due Diligence
                                                                                                                                                                                                                    2. Disclosure Requirements
                                                                                                                                                                                                                      1. Material Information
                                                                                                                                                                                                                        1. Fee Disclosure
                                                                                                                                                                                                                          1. Conflict Disclosure
                                                                                                                                                                                                                        2. Global Investment Performance Standards
                                                                                                                                                                                                                          1. GIPS Requirements
                                                                                                                                                                                                                            1. Compliance Procedures
                                                                                                                                                                                                                              1. Verification Process

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                                                                                                                                                                                                                          8. Portfolio Performance Evaluation

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                                                                                                                                                                                                                          1. Introduction to Investment