This course will address a variety of topics in private equity (PE) leveraging a highly practical and real-world approach. This course serves as an introduction to business finance (corporate financial management and investments) for both non-majors and majors preparing for upper-level course work. It aims at: 1) Introducing the main models used in practical applications to price and hedge derivatives; 2) Understanding their comparative advantages and limitations, as well as how they are calibrated and applied. From tiny beginnings, the Impact Investment space has expanded and now commands significant attention from policymakers, wealthy and public-spirited individuals, academia and, not least, the world's largest asset managers and philanthropic foundations. 4. The course makes use of lectures and case studies. The first module covers mergers and acquisitions, and the second one studies buyouts by private equity partnerships. Consumer Retail. Some programming and experience is helpful though knowledge of Python is not assumed. The second half of the class discusses the implications of these policies for equity and bond valuations. This year, we're proud to have Tom Russo, partner at Gardner Russo & Gardner, as our keynote speaker. It will also present the major hedge fund strategies, describe operation, control, administration, due diligence and valuation issues. This course will cover critical aspects and characteristics of hedge funds and the hedge fund industry. Major topics include foreign exchange rates, international money markets, currency and interest rate derivatives, international stock and bond portfolios, and cryptocurrencies. Our investments are selected using unbiased research methodology; there is no brokerage “buy list” or a third party incentivizing us to use a particular investment. Quantitative models play a key role in the valuation and risk management of these securities. <> Active management relies on the research, forecasts, and judgment of single managers, co-managers, or a team of managers to try to create a portfolio of investments that will outperform some benchmark, such as the S&P 500 index. Investment Management Subsectors • Private Wealth Management • Fund Consultants • Investment Banks Funds Differ. Paul has 2 jobs listed on their profile. The Wharton MBA Career Management team is dedicated to providing the deep knowledge, effective recruiting strategies, and extensive support necessary to achieve your recruiting goals. stream This course will examine the provision of public services for firms and people through cities. An Investment in You. The ultimate goal is to provide a new approach to thinking about taxes (and all forms of government intervention) that will be valuable even as laws and governments change. 78% of plan sponsors rate participant retirement readiness as "very important" or "quite important"*. Take charge and do it early. Through these cases, from the decision-makers perspective, we will explore the different paths that can be taken and consider issues. Private Wealth Management Associate. The application for ISP's should outline a plan of study that requires at least as much work as a typical course in the Finance Department that meets twice a week. The lectures expose the students to the institutional and empirical facts as well as approaches followed by leading shareholder activists. Wharton MBA Career Management. Contributor: Michael Meng, WG'12 To learn more about Michael, click here. This thorough and rigorous program is designed to build upon what is learned in the Portfolio Concepts and Management program or participants' existing knowledge . Students with backgrounds in any of these disciplines are welcome. Investing Style. Traditional finance and strategy courses do not consider the role of taxes. WhartonHill's investment philosophy is predicated on a diversified, global approach to portfolio management. . Tell me about yourself. Contact us. Location The Wharton School , Philadelphia, US. Key topics include managing currency risk through hedging and financing, calculating the cost of capital for foreign operations, assessing sovereign risks, capital budgeting from a project and parent perspective, and international taxation. Given that investment management requires one to understand and deal effectively with randomness, a good grounding in statistics is essential, and familiarity with statistics should extend through regression, covariance, and correlation . Topics include diversification, asset allocation, portfolio optimization, factor models, the relation between risk and return, trading, passive (e.g., index-fund) and active (e.g., hedge-fund, long-short) strategies, mutual funds, performance evaluation, long-horizon investing and simulation. 1 0 obj Prerequisites: (ACCT 611 OR ACCT 613) AND FNCE 611. 78% of plan sponsors rate participant retirement readiness as "very important" or "quite important"*. WhartonHill’s investment philosophy is predicated on a diversified, global approach to portfolio management. Dissertation Committee and Proposal Defense, Applications for Courses and Independent Study Projects, Course Registration Request Form for Non-MBA students. It focuses on growth and later-stage buyout transactions (excluding venture capital) taking a primarily U.S.-centric view that should be largely applicable in other markets. Students will be asked to forecast live policy decisions and implied market valuations. Other areas that are covered in FNCE 611 are covered more in depth and more rigorously in FNCE 703. The first is groundwork-laying lectures that focus on fundamental rights and obligations of debtors, creditors, and other parties in interest in the various types of major chapter 11 cases, providing critical insight into understanding the motivations, strategies, and available tools for chapter 11 participants (which also serve as the foundation for out-of-court deals). We will examine how current and historical events are reshaping the industry and highlight the basic analytics of managing a bank's exposure to liquidity, credit, market and reputational risk. The club focuses on the following areas of finance: Investment Banking. This course covers the finance of technological innovation, with a focus on the valuation tools useful in the venture capital industry. Infrastructure covers roads and bridges (the original infrastructure), to railroads, airports (the more recent infrastructure), to telecommunications and solar and wind power installations (modern infrastructure). We will argue that their systematic biases can aggregate into observed market inefficiencies, thus giving rise to apparently profitable trading strategies. He is concentrating in finance and strategic management at Wharton, and . CIMA ® certification continues to be the highest level of advanced investment education for client-facing advisors. CIMA® certification continues to be the highest level of advanced investment education for client-facing advisors. In this course, we will survey the evidence and use psychology to guide alternative theories of financial markets. Course topics will include: commercial diligence (incl. What qualities make for a good analyst? We explain the economic rationale for the policy prescriptions to reach the goals and how these policies are actually implemented by the Federal Reserve Bank (Fed) in the US, the European Central Bank (ECB), Bank of Israel (BOI) and some remarks on other countries. Anu Gupta Hometown Boston, MA Previous Education University of Pennsylvania Previous Career Investment Management Wharton Major Entrepreneurship & Innovation Career Plans Investment Management Clubs/Activities: Wharton Women in Investing (Co-President), Wharton Graduate Association (VP Student Life for Cluster 2), Leadership Fellow, Wharton GUIDE Mentor, Food Club, Wine Club, French Club . We'll also hear from current Wharton students in the Student Stock . Further, we will examine more closely the preferences and trading decisions of individual investors. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> At least one (1) credit units from the . Wharton faculty — led by Jeffrey Jaffe, an expert on corporate finance, investments, and money management — apply their field-based research and the latest strategic insights on modern portfolios, as well as investment alternatives such as private equity, commodities, and hedge funds that are changing the face of investing today. 2 0 obj This course provides an introduction to real estate with a focus on investment and financing issues. Vanguard, the world's largest mutual fund company with more than $4 trillion in assets under management, had a smashing 2016. The Wharton School University of Pennsylvania . In general, this course seeks to provide students with an overall context for understanding energy issues and risks, and how these might affect financing and investment decisions for both providers of energy and end-users of energy. All students will be required to participate in one major and two minor team projects. View Paul Wharton's profile on LinkedIn, the world's largest professional community. (Formerly FNCE 614) This half-semester course serves as an introduction to corporate investments for non-majors. We will provide descriptions of types of infrastructure, examine the financing needs of different infrastructure projects, consider the historic role of public and private funding, assess the changing needs of consumers, role of technology and the increasing demands posed by a globalizing economy. *2013-14 Deloitte Annual Defined Contribution Benchmarking Study. The Wharton School FNCE 205 / 720 Investment Management Donald Keim Office: 3253 SH-DH Spring 2017 Telephone: 215-898-7685 keim@wharton.upenn.edu _____ Overview The course studies the concepts and evidence relevant to the management of investment portfolios. %PDF-1.7 FNCE 205 Investment Management. Wharton is also one of the world's best-known centers of investment finance. The course reviews the theory and empirical evidence related to the investment and financing policies of the firm and attempts to develop decision-making ability in these areas. The course teaches how to develop the required information for valuing companies from financial statements and other information sources in a real-world setting. MBA Major in Business Analytics. The course covers a wide range of applications, including the use of derivatives in asset management, the valuation of corporate securities such as stocks and corporate bonds with embedded options, interest rate and credit derivatives, as well as crude oil derivatives. x��\[o��~7���G��h��@�6A��$@�>�e��H���:������33��.�:��v�X�3��s'�_�m��f�����˶�f�|��v��j�j�����M~�KvW�Y[T����m���TU��77ޫ^{]^�A��RƽЋ�o�r��//~��+//^}���~ü4H#�����e��F.�X"�އ5\��}��5�H�������7ߛ��}���ŏ���^^|�/�$ T@a ����A��0�Y��t��;z�W=�K�D,`�?�x'�Ȕ8?&��d����L��M��/��,�L� ��I�s�+. Wharton MBA . FNCE 738 is recommended but not required. In addition, the course covers other valuation techniques such as leveraged buyout analysis. This course is for second year MBA students. The objective of this course is to give you a broad understanding of the instruments traded in modern financial markets, the mechanisms that facilitate their trading and issuance, as well as, the motivations of issuers and investors across different asset classes. Topics covered in depth include discounted cash flow techniques and price multiples. ¥ Assistant Fund Fellow for Wharton Investment Management Fund, a $2M student-run equity endowment fund ; 1 of 16 first-year students selected amongst 80+ students , based on stock pitch audition ¥ Placed in top 3 of 40+ teams from Wharton at the ÔPortfolios with PurposeÕ stock picking competition The course is built around data/code examples, cases, guest lectures, and group projects. Students get to explore topics driven by Wharton research and teaching, engage with our . The objective of this course is to develop a framework for understanding how taxes affect business decisions. We manage our portfolios with the goal of balancing both return and downside protection, ensuring that our clients are on track to meet their financial objectives while being careful not to exceed their risk tolerance. Diversification does not guarantee a profit or protect against loss. Paul has over 25 years' investment experience gained as an economist, strategist and fund manager. They lead rigorous programs on individual topics such as venture capital, private equity, distressed asset investing, and real estate. Key topics include national income accounting, production and economic growth, employment, business cycles, monetary and fiscal policy, and international finance. The Wharton Investment Management Fund is a student-run equity fund responsible for managing approximately $2 million on the behalf of The Wharton School of the University of Pennsylvania. The course covers current conceptual and theoretical valuation frameworks and translates those frameworks into practical approaches for valuing companies. The course is taught in lecture format, and illustrates key concepts by drawing on a collection of case studies and visits from industry experts. Funds Do Differ . We will pay special attention to recent topics, such as partnerships with the private sector, enterprise zones, the role of technology, environmental challenges, and real estate policies that promote housing affordability, such as rent control and inclusionary zoning. endobj Dante Pearson, Head Fellow Prior to attending Wharton, Dante was most recently a pre-MBA summer analyst at T. Rowe Price, following two years as an equity analyst at Spears Abacus Advisors. In addition to prerequisites, FNCE 705 is highly recommended but not required. It provides specific coverage and examples of developments from(1) market-place lending, (2) blockchain and distributed ledgers, (3) quantitative trading and its use of non-standard inputs. We will study the determinants of the level of national income, employment, investment, interest rates, the supply of money, inflation, exchange rates, and the formulation and operation of stabilization policies. Joined Praesidium in 2016 and is a Senior Investment Analyst. FNCE205 - INVESTMENT MANAGEMENT (Course Syllabus). Adrian is a senior pursuing a dual degree at The Wharton School and The College of Arts and Sciences. FNCE 705 - Investment Management (Formerly FNCE 720)This course studies the concepts and evidence relevant to the management of investment portfolios. In terms of methodologies, we apply the non-arbitrage principle and the law of one price to dynamic models through three different approaches: the binomial tree model, the Black-Scholes-Merton option pricing model, and the simulation-based risk neutral pricing approach. Key Company Relationships . Real-time peer learning with deep faculty engagement and global networking. We then explore the evidence for both views in the context of capital structure, investment, dividend, and merger decisions. The purpose of the course is to train students to think systematically about the current state of the economy and macroeconomic policy, and to be able to evaluate the economic environment within which business and financial decisions are made. The main objective of this course is build intuition and skills on (1) pricing and hedging of derivative securities, and (2) using them for investment and risk management. The class focuses on risk management, investing, and arbitrage in these markets. The Business Analytics MBA major is designed to build deep competency in the skills needed to implement and oversee data-driven business decisions, including (i) collecting, managing and describing datasets, (ii) forming inferences and predictions from data, and (iii) making optimal and robust decisions. He graduated from Harvard College and will be interning at MFS Investment Management this summer. Fund. No prior knowledge of the industry is required, but students are expected to rapidly acquire a working knowledge of real estate markets. (Formerly FNCE 884) The goal of this course is to educate students about the substance, process and mechanics of PE investing, through the lens of the investment professionals, counterparties and advisors that drive transactions to completion. Investment Management Club. We will also examine infrastructure investing as a alternative asset class from the investors' perspective. The Fund employs a fundamental, value-oriented investment strategy. The approach is rigorous and analytical. Human Capital Club. This course will cover methods and topics that form the foundations of modern asset pricing. The future of finance will be more quantitative than ever." Launched in 2020, Wharton's quantitative finance major brings together students from a variety of academic backgrounds, such as computer science, engineering, and technology, and . This course serves as an extension of FNCE 611. Jewish Association of MBAs. Consulting. The Leadership and Management Certificate is designed to help executives across the organization reach new levels of success. This course explores strategic, business and legal decision making in a fluid real world corporate context. The course reviews the theory and empirical evidence related to the investment and financing policies of the firm and attempts to develop decision-making ability in these areas. Those who want to launch a hedge fund, join an existing one, invest in one, or provide services to one will want to register for this course. Topics include diversification, asset allocation, portfolio optimization, factor models, the relation between risk and return, trading, passive (e.g., index-fund) and active (e.g., hedge-fund . While it will touch upon various strategic, organizational, and general management issues, the main lens for studying these transactions will be a financial one.

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