| Professor | Marco Morelli / Paolo Vitale |
|---|---|
| Course code | SLX |
| General Discipline (SSD) | SECS-P/11 |
| Course Year | 2 |
| Semester | I Semestre |
| Course | 0 |
| Teaching Language | English |
| Credits | 8 |
| Total Workload | 200 |
| Total Lesson Hours | 60 |
| Course Contents | Morelli’s Module
• Equity markets: Public side vs private side; the role of investment banks. Vitale’s Module • Market efficiency and technical analysis. |
| Reference Books | Lhabitant (2007): Handbook of Hedge Funds John Wiley & Sons |
| Course Formative Objectives | To introduce students in a rigorous but intuitive way to the equity market environment and alternative investment techniques. |
| Prerequisites | Basic Knowledge of Microeconomics, Finance, Corporate Finance, Statistics, Econometrics |
| Teaching Method | Main lectures with discussions of numerical exercises, case studies and homework. |
| Assessment Method | Weekly evaluations of assignments or case studies plus final closed book final written exam Class work and take-home assignements: 40% Closed book final written exam: 60% |
| Criteria For Deciding On Subject Of Final Paper | No one
|
| Extended Program And Reference Reading Material | |
| Week 1 – Lesson 1 | Market efficiency and technical analysis |
| Week 1 – Lesson 2 | Equity markets: Public side vs private side; the role of investment banks |
| Week 2 – Lesson 1 | Value and growth investment |
| Week 2 – Lesson 2 | IPO : General overview and process |
| Week 3 – Lesson 1 | Insider trading |
| Week 3 – Lesson 2 | IPO: case study |
| Week 4 – Lesson 1 | Hedge funds’ organization and structure |
| Week 4 – Lesson 2 | Straight equity follow-on : Rights issue, accelerated book fully marketed offerings |
| Week 5 – Lesson 1 | • Hedge funds’ strategies: Long/short, market neutral, fixed-income, global macro. |
| Week 5 – Lesson 2 | Equity-linked: overview and rationale |
| Week 6 – Lesson 1 | Hedge funds’ strategies: Long/short, market neutral, fixed-income, global macro. |
| Week 6 – Lesson 2 | Universe of equity markets investors : Long-only, hedge funds, sovereign/wealth funds, retail |
| Week 7 – Lesson 1 | Performance analysis of funds management |
| Week 7 – Lesson 2 | Universe of equity markets investors : Long-only, hedge funds, sovereign/wealth funds, retail |
| Week 8 – Lesson 1 | Performance analysis of funds management |
| Week 8 – Lesson 2 | The role of equity research : Evolution, past issues, regulation |
| Week 9 – Lesson 1 | Performance analysis of funds management |
| Week 9 – Lesson 2 | The role of equity research : Evolution, past issues, regulation |
| Week 10 – Lesson 1 | Database, indices and benchmarks. |
| Week 10 – Lesson 2 | Private equity and financial sponsors : investment cycle, domestic vs international |
| Week 11 – Lesson 1 | Diversification and asset allocation |
| Week 11 – Lesson 2 | Hedge fund testimonial |
| Week 12 – Lesson 1 | Diversification and asset allocation |
| Week 12 – Lesson 2 | Private equity testimonial |
