AFF 621

This course enhances and extends understanding of the material covered in AFF 410 and AFF 501 and requires the student to integrate a number of concepts. Individual securities not previously studied will be analyzed in depth, e.g., callable and convertible bonds and other securities with imbedded options. The valuation of common stock from a discounted cash flow basis is covered, instead of the usual discounted dividend framework. On the portfolio management side, the passive vs. active management of a portfolio is investigated as well as portfolio performance evaluation and some recent development in investment research.