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| INFO0875-1 | Internet Based Global Investing
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| Durée : | 30h Th |
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| Crédits/ECTS : |
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| Titulaire(s) : | Jean‑Marie Choffray |
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| Langue : | Langue anglaise |
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| Aperçu général : | From an investment standpoint, the activity of a business is of limited interest. Most important is its ability to generate earnings growth (EPS) subject to economic value creation (EVA > 0).
Over the last few years, the internet has completely changed the art and science of investing in a global world. This is such a new area of academic inquiry that there are no reference textbooks. That makes lecture notes, real life case analysis, and active participation in an Investment Laboratory, invaluable tools to discover this subject. |
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| Objectif du cours : | This course aims at discovering the full power of the internet as a platform for global investing.
Its goal is to prepare students to compete in a global investment environment, both as individuals and as managers.
It covers the following subjects:
- Opportunity: what is a business from an investment standpoint; how to measure growth; how to assess wealth creation?
- Screening: how to identify the best opportunities; how to make use of available information sources (EDGAR database...); how to calibrate and use a stock screener?
- Valuation: how to evaluate investment options; what is benchmarking; how to get reliable valuation and performance measures?
- Allocation: how to define an optimal investment mix; what are measures like BETA, PEG, VIX and other VXN; how to day trade, program trade; how to diversify; should you eat well or sleep well?
- Financing: what are the main sources of investment financing; should a company build an investment captive; who are the main online brokers; how to use margin accounts and short positions?
- Timing: how to assess market psychology at the aggregate level; when to get in and out of an investment; how to preserve capital and set operational appreciation targets?
- Success: what are the key driving forces behind a successful investment strategy; why and how to share performance; why and when to retire and go... fishing? |
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| Pré-requis : | None |
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| Travaux pratiques : | On-line Investment Laboratory |
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| Organisation : | This course is designed to be a challenging and time-consuming experiment.
It will use real-live case discussions, lectures and an Investment Laboratory - aimed at helping participants use the concepts, models and decision tools covered during the seminar - to discover the full power of the internet as a platform for global investing.
Students should expect to study an average of five real life investment opportunities per week for which they will submit written justifications (investment/divestment sheets, portfolio sheets). They will be invited to work in teams.
Class attendance is critical. Learning will come from struggling together to make the best investments and to beat the market. |
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| Notes de cours : | Reading list: articles and chapters. Reference internet sites. |
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| Evaluation : | Evaluation is based on class participation, the quality of the opportunities identified (investment sheets), and the effectiveness of the decisions (portfolio sheets) made in the Investment Laboratory. |
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| Contacts : | Professor :
Dr. J.-M. Choffray, Ph.D. MIT, B31, Local III/36
Teaching Assistant :
N.Tramonte, Bât. B31, Local III/36
Tél. : 00.32/4.366.30.76
E-Mail : ntramonte@ulg.ac.be |
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| Remarques : | Class attendance is critical. Learning will come from struggling together to make the best investments and to beat the market. |
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