Leonard N. Stern School of Business

New York University/ING Barings

Introduction to Capital Markets and Portfolio Theory


Prof. Ian Giddy

Stern School of Business, New York Univeristy


Ian H. Giddy is a professor of finance at New York University's Stern School of Business. During the past 20-odd years, Dr. Giddy has taught numerous short courses and workshops at many of the world's leading financial institutions, corporations, universities and government agencies. These include Citibank, Bank of America, Chase Manhattan Bank, JP Morgan, Price Waterhouse, U.S. Treasury Department, Comptroller of the Currency, Shearman & Sterling, USICA, Manufacturers Hanover Trust, Claremont Economics Institute, Barclays Bank, Credit Suisse, First Boston, Deutsche Bank, HypoVereinsbank, Swiss Bank Corporation, General Electric, Bank of Boston, Morgan Stanley, Drexel Burnham Lambert, IBM, Yamaichi Securities, Grupo Espirito Santo, Royal Bank of Canada, Chemical Bank, Reeves Industries, Bouygues, PDVSA (Venezuela), UNISA (South Africa), The World Bank, International Monetary Fund, Republic of Turkey Ministry of Finance, Prudential Securities, Banco Santander, Reserve Bank of India, Bank Negara Indonesia, Bank Utama Malaysia, Institute of Bankers of Malaysia, Singapore Institute of Management, Korea Institute of Finance, Samsung Life, Deloitte & Touche, Nordic Investment Bank, AC Nielsen, Development Bank of Singapore, ASIA Ltd., and many others.

He has lectured in Bangladesh, Belgium, Brazil, Canada, Chile, Estonia, Finland, France, Germany, Greece, Hong Kong, India, Indonesia, Ireland, Italy, Japan, Korea, Latvia, Lebanon, Lithuania, Malaysia, Mexico, the Netherlands, the Peoples Republic of China, Peru, The Philippines, Portugal, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Turkey, the United Kingdom and Venezuela.
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  Summary

This three-day module will offer an overview of the bond and equity markets, and of portfolio management, from the perspective of the financial analyst. We begin with a description of the major money, bond and equity markets, both at home and abroad, and the changing roles of banks, securities firms and portfolio managers in these markets. 

In the second part of the module, we seek to understand the role of investment bankers in general, and their role in the capital markets. In addition, through case studies and examples, we look at two key functions of investment banking: securities underwriting and distribution, and the management of mergers and acquisitions 

These concepts will be applied in the context of hands-on cases, exercises and quantitative applications.


Reading assignment:

Bodie, Kane and Marcus, Essentials of Investments (3rd ed., Irwin, 1998), Chapters on securities trading, fixed-income investments and equity valuation. 

Summer pre-course assignments:

On-line exercises, with feedback, to be provided to each participant.


DAY 1

Morning

Capital Markets

  • Debt and equity market fundamentals
  • Roles of financial institutions
  • Macro factors influencing markets
Afternoon

Capital Markets (continued)

  • Group assignment


DAY 2

Morning

Capital Markets (continued)

  • The Bond Market: Treasuries
  • Corporates, including high-yield
  • International bonds
Afternoon

Capital Markets (continued)

  • Securitization
  • The Mortgage-Backed Securities Market
  • Group assignment


DAY 3

Morning

Capital Markets (continued)

  • The Equity Market
  • Equity-based Instruments, including Convertibles and Warrants
  • Introduction to Equity Valuation
Afternoon

Capital Markets (continued)

  • Group preparation of investment banking case study
  • Group assignment


DAY 4

Morning

Investment Banking

  • Overview of Investment Banking
  • Securities Underwriting and Distribution
Afternoon

Investment Banking (continued)

    Mergers, Acquisitions and Divestitures
     


Related websites:

giddy.org
financefixit.com
globalsecuritization.com

Also:
books.giddyonline.com
music.giddyonline.com
shop.giddyonline.com


Go to Giddy's Web Portal Contact Ian Giddy at ian.giddy@giddyonline.com