复旦大学：《投资学原理 Investments》课程教学资源（案例讲义）案例3_股指期货在中国股票市场异常波动中的作用分析

The Financial Markets are Dynamic Business is“Proactive But Regulators are \Reactive\ not “Proactive The System of Regulation and Enforcement can never be completely Flexible and Dynamic Importance of Fiduciary Responsibility

INVESTMENTS Two-Security Portfolio: Return rp =W+W2r2 W Proportion of funds in Security 1 W2 Proportion of funds in Security 2 =Expected return on Security 1

现金流贴现法Discounted Cash Flow Method,简称 DCF),又称收入法或收入资本化法。 DCF认为任何资产的内在价值( Intrinsic value) 取决于该资产预期的现金流的现值

Capital allocation The choice of proportion in safe asset and proportion in risky asset; Most institutional investors follows top- down analysis---The first part is asset allocation and the next part is security selection decision

INVESTMENTS h Ealiti Risky Investments with Risk-Free Irrvestrent

Types of market efficiency The weak-form of efficiency: price accurately reflect all information that can be derived by examining market trading data such as past prices, trading volume, short interest rate, etc

一、基本面分析 fundamental analysis Top-down analysis 二、股票定价模型 三、市盈率与价值和风险之间的关系 四、股价预测 五、股票证券组合管理

系统风险与非系统风险 一、单因子模型 二、多因子模型 三、套利和套利定价

西北工业大学：投资学_第六到第十一章重点复习