he course aims to illustrate some financial methods and models using Excel spreadsheets in order to formulate rational procedures yielding optimal and efficient solutions for portfolio management. The main field in which calculations and analyses are made is the Equity asset class, starting from basic data capable of providing a comprehensive overview of a single stock and of its relationship with the whole market. Integrating all results achieved, the goal is to provide students with the essential concepts needed to value a listed stock and to build and manage an equity portfolio, along with presenting and analyzing quantitative data with the software tool. They will also be capable of elaborating basic short-investment cases, to discuss both single stocks, on the basis of common analytical measures, and equity portfolio choices, illustrating the rationale for a quantitative allocation, following risk/return efficient concepts, in line with professional standards used in the financial community. All analyses are focused on practical examples and applications, linked to the stock market current situation, and supported by some useful techniques utilizing common database and spreadsheet calculations. Students are strongly encouraged to participate actively to the lectures.
The course is divided into the following two main modules.
1. Stock market analysis, single stock data analysis and forecast, Discounted Cash Flows, Multiples, Options.
2. Portfolio composition and analysis, Markowitz & Black-Litterman models, Discriminant analysis.
The two parts are linked; the single stock results analyzed in the first part of the course will be utilized for a portfolio construction in the second part.
Both modules are developed providing exhaustive methods of data management and calculations, based on Excel
Lectures and practical exercises in DOS room
- Docente: DENNIS MONTAGNA