BUS-123 - Introduction to Investments
Thank You For A Great Semester!
I am going to miss you all! Keep in touch!
Spring 2020

Southwestern Community College
Instructor: Frank Paiano

Rule of Law Republicans Speak Out - Mourning in America

Final Exam

Final Exam
BUS-123-01
Face-to-Face
Tuesdays & Thursdays
8:35 a.m. to 10:00 am
Final Exam: All chapters; Chapters 6 and 10 Calculations (See Pre-final Worksheet Below)
Chapter 15: Options Contracts
Chapter 14: Futures Contracts
Chapter 2: Buying and Selling Securities  Buying on Margin and Shorting
Misc Topics: Account Types, Real Estate, Gold, etc., Cryptocurrencies, Starting a Business
Review: All chapters, Chapter 6 and 10 Calculations
Finals Week Starting May 17th (or sooner) until Thursday, May 21st
Questions on exam from chapters after exam #4
Pre-final Worksheet
Pre-final Worksheet Answer Key - Zoom Recorded Session - Audio Recording
BUS-123-501 & 502
Online
Online Final Exam: All chapters; Chapters 6 and 10 Calculations (See Pre-final Worksheet Below)
Chapter 15: Options Contracts
Chapter 14: Futures Contracts
Chapter 2: Buying and Selling Securities  Buying on Margin and Shorting
Misc Topics: Account Types, Real Estate, Gold, etc., Cryptocurrencies, Starting a Business
Review: All chapters, Chapter 6 and 10 Calculations
Finals Week Starting May 17th (or sooner) until Thursday, May 21st
Questions on exam from chapters after exam #4
Pre-final Worksheet
Pre-final Worksheet Answer Key - Zoom Recorded Session - Audio Recording


Announcements

Announcements  (Announcements also available in Canvas)

Week #16 - The Final Exam - Student Evalution - Many Thanks to All of You! - Video - Video (CC) - Audio
    Due: Final Exam, Whatever you have to submit! Turn it in!
     Pre-Final Valuation Problems - Answer Key - Zoom Recorded Session - Audio Recording
     Questions on the Final Exam from the Last Two Weeks of Instruction (After Exam #4)
     Big Thank You! and Student Evaluation

Week #15 - Other Investment Topics - Preparing for the Final Exam - Video - Video (CC) - Audio
    Due: Catch up on late assignments, Chapter 15 bonus assignment, Final Exam next week
     Pre-Final Valuation Problems - Answer Key - Zoom Recorded Session - Audio Recording
     Questions on the Final Exam from the Last Two Weeks of Instruction (After Exam #4)
     Big Thank You! and Student Evaluation
    Ooops! My apologies. I said, "Week #5." I meant to say, "Week #15." But you knew that, right? Of course, right!
Week #14 - Investing - No! - *Speculating* with Options and Futures, Shorting and Buying on Margin - Video - Video (CC) - Audio
    Due: Chapter 18 Bonus Assignment and Chapter 11 Assignment, The Allocation Ale House Discussion Forum
Week #13 - Bond Prices & Yields - Asset Allocation - Exam 4 on Bonds and Asset Allocation - Video - Video (CC) - Audio
    Due: Exam 4, Chapter 9 Assignment
    First part of exam #4  Multiple-choice / true-false
    Second part of exam #4   Calculations from chapters 10 and 6
    Three questions and answers on exam about hybrid securities
    Chapter 10 Worksheet #3 Study for exam #4 (Answer key below in chapter 10 section of class website and in Canvas)
Week #12 - After Exam #3 - Introduction to Bonds (Yawn...) - Video - Video (CC) - Audio
    Due: Submit all late assignments! Don't forget the discussion forums!
Week #11 - Chapters 7 and 8 - Finishing Stocks - Exam #3 Starting This Thursday - Video - Video (CC) - Audio
    Due: Exam #3, Stock Discussion Forums, Chapter 17 and 7 Assignment, Chapter 8 Bonus Assignment
Week #10 - The Last Two Weeks on Stocks - Chapters 17 & 7 - Chapter 8 & Exam #3 Next Week - Video - Video (CC) - Audio
    Due: Exam #3 Next Week! Chapter 17 Assignment, The Stock Steakhouse & Covid-19 Discussion Forums are due this Saturday
       Submit all assignments, even if they are late!
Week #9 - Exam #2 Finally! - Chapter 5, Introduction to Stocks - Chapter 6, Stock Valuation Techniques - Video - Video (CC) - Audio
    Due: Exam #2, All late assignments!
Week #8 - Exam #2 This Week - Chapter 5, Introduction to Stocks - Chapter 6, Stock Valuation Techniques - Video - Video (CC) - Audio
    Due: Exam #2, Chapter 6 Assignment
Week #7 - Beginning Chapter 6, Stock Valuation Techniques - Exam #2 Next Week - Video - Video (CC) - Audio
    Due: Chapter 5 Assignments due this week, Exam #2 and chapter 6 due next week
Week #6 - Continuing Chapter 5, Introduction to Stocks - Video - Video (CC) - Audio
    Due: Chapter 5 assignments due next week Study, study, study stocks! Every day! At least one hour per day! You Can Do It!
Week #5 - After the First Exam - Starting Stocks! - Video - Video (CC) - Audio
    Due: Chapter 4 Assignments and Le Maison de Mutual Funds discussion forum due this week
Week #4 - Finish Mutual Funds - Exam 1 This Week - Chapter 1 Assignments (if not submitted yet) - Video - Video (CC) - Audio
    Due: Exam #1, Chapter 1 assignments (if you have not submitted them yet)
Week #3 - Starting Mutual Funds - Exam 1 Next Week - Chapter 1 Assignments and Short-term Discussion Forum Due This Week - Video - Video (CC) - Audio
    Due: Short-term Snack Shack discussion forum and Chapter 1 assignments due this week, Exam #1 next week
Week #2 - Continuing Introduction to Investments - Risk versus Return - Short-term Investments - Video - Video (CC) - Audio
    Due: Finish chapter 1 material
Week #1 - Introduction and Welcome to BUS-123, Introduction to Investments, for Spring 2020 - Video - Video (CC) - Audio
    Due: Please Introduce Yourself discussion forum
Week #0 - Presemester Announcement - Video - Video (CC) - Audio
  Pre-semester annoucement for students enrolled in online class
  Pre-semester annoucement for students on waiting list for online class


Chapter Presentations, Handouts, and Assignments


Part 1:
Introduction


Syllabus:
BUS-123-01 Tuesday/Thursday - Audio commentary will be created during Lecture 1 on January 30th
  You could also listen to the Audio Commentary for the Online Classes Syllabus. It is almost exactly the same.
BUS-123-501 & 502 Online - Audio Commentary of Online Class Syllabus - Long Format  Long format in Canvas
Your Humble Professor Introduces Himself
Your Humble Professor Introduces Himself (CC)   Many thanks to 3CMediaSolutions for ADA-compliant closed captioning.
Your Humble Professor Introduces Himself with just audio
A Guided Tour of the class website - Video (CC) - Audio  Uh, it's what yer lookin' at right now.
Videos on Apple iTunes

Chapter 1 and Notes:
What is an Investment?
The Investment Universe
Risk versus Return
Short-term Securities


Chapter 1 Materials
Presentation file  Every chapter has a presentation that can be read with Powerpoint, Open Office, Libre Office, or Google Docs
Study Guide - Video - Video (CC) - Audio  Discussion of the chapter study guides and how to use Google Docs
Assignment - Commentary   The process is more important than the information and answers. Enjoy!
Short-Term Investments Assignment - Commentary
TreasuryDirect.gov Assignment - Commentary
   TreasuryDirect.gov  Your Federal Tax Dollars at Work!
   Cetes Directo    El TreasuryDirect.gov de Mexico - Miralo - Una tasa de interes mas grande que los estados unidos
How to Submit Assignments - Commentary
Discussion Boards Assignment (Everyone now is posting! Everyone now is online!) - Commentary
  Add your picture to the discussion boards!  We want to see your smiling face!

Security? But I'm not an Administration of Justice Major!   No, not that type of security
Security Types Matching Handout - Answer Key   Memorize for exam! You must know these!
Investopedia: What is a Security?

Sample Portfolio Class Project - Commentary
  Snapshot (3 Feb 2020)  We are off to a great start, mostly thanks to the student who asked that we add Tesla!
  Snapshot (12 Feb 2020)  What an awesome class! We are off to the races - up 7%!
  Snapshot (21 Feb 2020)  Whoa! Virgin Galactic exploded! Unbelievable! You Guy Are AWESOME!
  Snapshot (28 Feb 2020)  Aye! "The Volatility is Real!" The corona virus strikes our portfolio like a bolt of lightning. We are down for the semester.
  Snapshot (6 Mar 2020)  Up! Down! Up! Down! We are holding our own through the turbulence.
  Snapshot (13 Mar 2020)  Well, it's official! It's a bear market (over 20% down). We, however, are only down 18%.
  Snapshot (20 Mar 2020)  Hey, only 32% down. That's better than the Dow which is down over 35%
  Snapshot (27 Mar 2020)  Down only 23 1/2%. Again, we are holding up better than the market. That ain't saying much, though.
  Snapshot (3 Apr 2020)  It's been another rough week, Dear Students. Down 28%. Oh, well.
  Snapshot (10 Apr 2020)  We are clawing our way back in this so-called "bear market rally." Another name is "dead cat bounce!"
  Snapshot (17 Apr 2020)  We are now only down 11 1/2%. Not bad! But my personal belief is that the worst is yet to come. We shall see!
  Snapshot (24 Apr 2020)  Volatility! Volatility! Volatility! Down, up, down, up! But hardly any change from last week.
  Snapshot (1 May 2020)  Well, we were back to only -9% on Thursday morning but now we are back down to -13%. The volatility is real!
  Snapshot (8 May 2020)  Hey, hey! We are back to only down less than 5%. Not bad! (But ya' know it ag'in gonna' get ugly soon enuf!)
  Snapshot (15 May 2020)  Ooops! Back down to -10%. (Told ya' it gonna' get ugly soon!)
  Snapshot (22 May 2020)  Congratulations! You are only about 7 1/2% down. Not bad for a very difficult time in the markets! (Come back in 7 years and we'll see how we really did!)

Books to Read (Eventually) - Commentary
Future Value Worksheet - Commentary - Answer Key
Future Value Tables
Turn $33,000 into $7,000,000 in just 2 years! - Rates of Return - Commentary
  Yet another scam -- Turn $500 into $650,000 with no risk!
The same kind of illegal behaviors go on in the world of weight loss supplements   Some have Prozac and Viagra!

Short-term Securities Investments
Investopedia: An Introduction to Commercial Paper
T. Rowe Price Cash Reserves Money Market Fund  Interesting. This fund can have securities that mature in up to 397 days but the average is 60 days.
Money Market Mutual Fund Annual Report  Scroll down to pages 5 and 6 to see the Treasury bills and corporate paper that the money market owned on September 30, 2019
   Video - Video (CC) - Audio
  Spring 2019 Examples: Short-term Securities Examples - Video - Video (CC) - Audio
  2018 Examples: Fall 2018 - Spring 2018  The Federal Reserve Bank started raising short-term rates in 2015
  2014 Example: Fall 2014 -  Before 2015, short-term rates were close to zero!
Interview with a Dyed-in-the-Wool CD Investor  Jeanne tells you why she will only invest in short-term investments
Bankrate.com  Popular Internet site for researching short-term investments

Online Audio Lectures
Chapter 1, Notes - Lecture 1 - Slides 1 to 14    Introduction: What is an Investment?
Chapter 1, Notes - Lecture 2 - Slides 15 to 34    An Overview of the Investment Universe
Chapter 1, Notes - Lecture 3 - Slides 35 to 54    Risk versus Return
     Liar's Poker Story - Slide 48    Are you a Speculator/Trader or are you an Investor?
     The Value Line on the Difference between Investing and Speculating/Trading
Chapter 1, Notes - Lecture 4 - Slides 55 to 73    Short-term Investments

Online Audio/Video Lectures
Chapter 1, Notes - Lecture 1 - Slides 1 to 14    Introduction: What is an Investment?
Chapter 1, Notes - Lecture 2 - Slides 15 to 34    An Overview of the Investment Universe
Chapter 1, Notes - Lecture 3 - Slides 35 to 54    Risk versus Return
     Liar's Poker Story -- Slide 48    Are you a Speculator/Trader or are you an Investor?
     The Value Line on the Difference between Investing and Speculating/Trading
Chapter 1, Notes - Lecture 4 - Slides 55 to 73    Short-term Investments

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 1, Notes - Lecture 1 - Slides 1 to 14    Introduction: What is an Investment?
Chapter 1, Notes - Lecture 2 - Slides 15 to 34    An Overview of the Investment Universe
Chapter 1, Notes - Lecture 3 - Slides 35 to 54    Risk versus Return
     Liar's Poker Story -- Slide 48    Are you a Speculator/Trader or are you an Investor?
     The Value Line on the Difference between Investing and Speculating/Trading
Chapter 1, Notes - Lecture 4 - Slides 55 to 73    Short-term Investments

Online Audio/Video Lectures on iTunes
Scroll to individual presentations    (iTunes does not allow direct links to the presentations. Sorry.)
     Liar's Poker Story -- Slide 48    Are you a Speculator/Trader or are you an Investor?
     The Value Line on the Difference between Investing and Speculating/Trading

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 1, Notes - Lecture 1 - Slides 1 to 14    Introduction: What is an Investment?
Chapter 1, Notes - Lecture 2 - Slides 15 to 34    An Overview of the Investment Universe
Chapter 1, Notes - Lecture 3 - Slides 35 to 54    Risk versus Return
     Liar's Poker Story -- Slide 48    Are you a Speculator/Trader or are you an Investor?
     The Value Line on the Difference between Investing and Speculating/Trading
Chapter 1, Notes - Lecture 4 - Slides 55 to 73    Short-term Investments

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 30 Jan    Introduction: What is an Investment?
TueThur Lecture 2 Audio -- 4 Feb   Ooops! Technical difficulties. Please watch/listen to online presentations #2 and #3 above
TueThur Lecture 3 Audio -- 6 Feb    Short-term Investments, Canvas, Chapter 1 Assignments

Chapter 4:
Mutual Funds


Chapter 4 Materials
Presentation file
Study Guide - Commentary
Assignment - Commentary
Mutual Fund Annual Report Assignment - Commentary   (You can use the Annual Reports and Prospectuses links below)
Thrift Savings Plan Assignment - Commentary
Bonus Assignment: Index Funds and Diversification - Commentary
Mutual Fund Case Studies - Commentary  (Not an assignment but something like this might just be on the exam -- hint, hint)
Investor.gov: What Are Mutual Funds   The Federal government explains mutual funds

Mutual Funds Used in Lecture #2
AB Large Cap Growth Fund   Formerly Alliance Large Cap Growth Fund
New Economy Fund
Legg Mason Value Trust   Now called Clearbridge Value Trust
Vanguard 500 Index Fund
Fidelity 500 Index Fund

Mutual Fund Types Scramble Sheet (Online lecture 3) - Commentary

A Sample Mutual Fund  (Online lecture 4 - Just one of over 11,000!)
ICA Prospectus: Full - Summary - Web page - Commentary
ICA: 86 Years of Investing -  Commentary: Video - Video (CC) - Audio
Top 75 Holdings of ICA -  Commentary
The Benefit of Time -  Commentary
Worst Day / Best Day -  Commentary

Hypothetical Illustrations  (Online Lecture 4)
$100 per month for 30 years
$100 per month for 40 years
$100 per month for 40 years - increase $10 each year
$500 per month for 20 years
$1,000 per month for 20 years
   Commentary: Video - Video (CC) - Audio

A Shares (commission-based) versus F or I Shares (fee-based)
$500,000 paying the up-front commission - 20 years
$500,000 paying the yearly annual fee (Example: Fisher Investments 1.25% yearly fee) - 20 years
$500,000 paying the up-front commission - 25 years
$500,000 paying the yearly annual fee (Example: Fisher Investments 1.25% yearly fee) - 25 years
   Commentary: Video - Video (CC) - Audio

401(k), 403(b), and other Employer-sponsored Plans
Jack Bogle sticks it to the 401(k) world  And Senator Oral Hatch is not pleased...

Offerings of Sample Mutual Fund Companies Performance  (Online lecture 4)
Vanguard Funds Performance
American Funds Performance
Fidelity Funds    Only shows 310 or so of Fidelity's over 500 mutual funds. Woman CEO!
Fidelity Funds and all the other funds that they offer through their web site    Over 10,000!
Dodge and Cox Funds Performance
T. Rowe Price Funds
Franklin Templeton Funds    Woman CEO!

Annual Reports and Prospectuses  (Online lecture 4 and Mutual Fund Annual Report Assignment)
Vanguard Funds
American Funds
Fidelity Funds    Woman CEO!
Dodge and Cox Funds
T. Rowe Price Funds
Franklin Templeton Funds  Choose fund and then find [Documents] - Woman CEO!

Top 10 Largest U.S. Fund Families: Morningstar  ThinkAdvisor, Sep 2019 - Careful: Different sources have different results
The Top Three Have Earned Their Stature  At least, according to Morningstar.com

Mutual Fund Commentaries, Insights, and Perspectives
Vanguard Insights - John Bogle's Official Website - Obituary for Howard Schow
American Funds Investment Insights - The Capital Ideas (Parent company of American Funds) - Obituary for Jon B. Lovelace
Fidelity Funds Insights - Viewpoints - Ned Johnson on Wikipedia
Dodge and Cox Funds Video Perspectives Gallery - Insight Papers - Video Gallery Check out The Case for Active Management
T. Rowe Price Investing Insights - Biography of T. Rowe Price, Jr.
Franklin Templeton Funds Investing Commentary - John Templeton's Official Website

No Investment Is Perfect ...
Mutual Funds Far Outperform Mutual Fund Investors   Huh? That does not make any sense. But it is true! See last presentation.
Why The Average Investor's Investment Return Is So Low
Like Moths to a Flame   In January 2014, investors (?) rushed out of stock funds and into bond funds ... at just the wrong time. Fun video.
A Cautionary Tale for Investors   An example of a mutual fund without proper oversight by the Board of Directors
Woodford Funds Debacle   An example of a mutual fund manager who believed he was invincible. Look for long-term results, Dear Students!
  Another article about Woodford    To read this one, you have to create a free account with City Wire Selector
  Morningstar's take on the Woodford Funds    Again, Morningstar requires you to create a free account to read the article

Online Lectures
Chapter 4 - Lecture 1 - Slides 1 to 20     Introduction to Mutual Funds
Chapter 4 - Lecture 2 - Slides 21 to 40    Fees, Expenses, and Class Shares, Oh My!
Chapter 4 - Lecture 3 - Slides 41 to 61    Types of Mutual Funds (Scramble Sheet)
Chapter 4 - Lecture 4 - Slides 62 to 79    Fund Families and a Sample Mutual Fund

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 4 - Lecture 1 - Slides 1 to 20     Introduction to Mutual Funds
Chapter 4 - Lecture 2 - Slides 21 to 40    Fees, Expenses, and Class Shares, Oh My!
Chapter 4 - Lecture 3 - Slides 41 to 61    Types of Mutual Funds (Scramble Sheet)
Chapter 4 - Lecture 4 - Slides 62 to 79    Fund Families and a Sample Mutual Fund

Online Audio/Video Lectures on iTunes
Scroll to individual presentations    (iTunes does not allow direct links to the presentations.)

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 4 - Lecture 1 - Slides 1 to 20     Introduction to Mutual Funds
Chapter 4 - Lecture 2 - Slides 21 to 40    Fees, Expenses, and Class Shares, Oh My!
Chapter 4 - Lecture 3 - Slides 41 to 61    Types of Mutual Funds (Scramble Sheet)
Chapter 4 - Lecture 4 - Slides 62 to 79    Fund Families and a Sample Mutual Fund

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 4 - Lecture 1 - Slides 1 to 20     Introduction to Mutual Funds
Chapter 4 - Lecture 2 - Slides 21 to 40    Fees, Expenses, and Class Shares, Oh My!
Chapter 4 - Lecture 3 - Slides 41 to 61    Types of Mutual Funds (Scramble Sheet)
Chapter 4 - Lecture 4 - Slides 62 to 79    Fund Families and a Sample Mutual Fund

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 11 Feb   Introduction to Mutual Funds, Illustrations, start Mutual Fund Fees
TueThur Lecture 2 Audio -- 13 Feb   Finish Mutual Fund Fees, Types of Mutual Funds
TueThur Lecture 3 Audio -- 18 Feb   Finish Types of Mutual Funds, Fund Families
TueThur Lecture 4 Audio -- 20 Feb   A Sample Mutual Fund (continued), Hypothetical Illustrations, Case Studies


Part 2: Stocks (a.k.a. Equities)

Chapter 5 and
  Lecture Notes:
Introduction to Stocks



Chapter 5 Materials
Presentation file
Study Guide
Assignment
Stock Markets Assignment - Commentary
Earnings Call Assignment - Commentary
Market Simulation Handout    Presentation (Chaos in the Classroom!): Video - Video (CC) - Audio

Internet Finance Web Sites   (Assignments, Audio lecture 2)
Presentation: Video - Video (CC) - Audio
The Value Line  Awesome resource that used to be pay only. Check it out!
Yahoo Finance   Yahoo Finance was the best free finance site. Now it is really bad. What is going on at Yahoo?
   
E-mail to and response from the CEO of Verizon   Verizon is buying Yahoo. The CEO answered me personally!
   Users sound off about newly-destroyed Yahoo Finance site
Bloomberg Finance
Marketwatch  Wall Street Journal's free web site
Google Finance   Breaking News! Google Finance rolls out new version. Still kinda' lame. But at least it works!
CNBC
Investopedia  Pretty good website (even though it is owned by the same folks who own Tinder)
The New York Times Markets Overview

FINRA - Financial Industry Regulatory Authority
FINRA  Investigate your broker and brokerage firm at FINRA's BrokerCheck
FINRA Registered Representative Brochure  Registered Representative is the legal term for a Stockbroker
The new Securities Industry Essentials Exam  Started October 1, 2018
Solomon Securities Industry Essentials Exam Preparation  Just one of many exam prep companies (I don't get any kickback!)
The FINRA Investor Knowledge Quiz  Actually, you should wait until the end of the semester before taking this quiz!

Ancillary Presentations
Casas de Cambio - San Ysidro and Tijuana (Lecture 2) - Video - Video (CC) - Audio - Youtube
  Investopedia explains the bid-ask spread
Eighty-Five Years Ago (Lecture 3) - Commentary - Results   Don't Peek Until You Have Chosen a Company!

Stock Certificates
Disney - Allied Signal - Campbell Soup Company - Commentary

Stock Worksheets
Stocks Worksheet 1 - (Lecture 3) - Commentary - Answer Key
Stocks Worksheet 2 - (Lectures 4 and 5) - Commentary - Answer Key
Stocks Worksheet 3 - (Lecture 5) - Commentary - Answer Key

Dividend Reinvestments Plans (DRIPs)
Sempra Energy DRIP (Lecture 4) - Commentary

Penny Stock and Other Stock Scams
DPER -- From $0.006 To $0.06 In Just 9 Days! (Lecture 5) - Commentary   Psst. It is now at $0.0000
PPTL -- Turn $0.0138 to $0.05 In Just One Week!   What is it selling for now? $0.0000
Yahoo! Advertisement for AwesomePennyStocks.com - Another: "Penny Stocks Made Me Rich!"
The same people who are doing the recommending to you are the same scam artists who are selling the bogus stocks to you!
They "pump" up the price and then "dump" all the shares! It is a very old scam.

AwesomePennyStocks.com shuts down after SEC/FBI probe  Sigh. These scams will never end as long as people are greedy and stupid.
Another web site that was shut down  And they spelled "receive" incorrectly! I before E except after C...
Two British Teens Ran "Stock-Picking Robot" Scam
Email scam using PRFC
  PRFC is a legitimate company on the OTC. They warned the investment community that they were being used by the penny stock scammers.
More Penny Stock Scams
DRMC: 25-Feb-2015 - 26-Feb-2015 -- Definitive Rest Manufacturing
   Formerly manufactured mattresses but now makes materials for aerospace industry. Uh, right...
STHC: 24-Feb-2015 - 25-Feb-2015 -- SouthCorp Capital
   Started June 2014 as a company refurbishing run-down homes but now is manufacturing cans and weight loss products. Okay...
How Bernie Madoff Made Off With $18 Billion   They also ask the question, "Are we protected from the next major Ponzi scheme?" (Spoiler: No.)

IPO -- Initial Public Offering or It's Probably Overpriced?
It's Probably Overpriced!
Rigging the IPO Game

Keep a long-term perspective
History of Bear Markets - (Lecture 3) - Commentary
Another History of Bear Markets
What Past Market Declines Can Teach Us
Don't Lose Perspective (Lecture 5) - Commentary
BGFN, The Benjamin Graham Financial Network! - Commentary
Books to Read about Stocks - Commentary (Same as Chapter 1)

Rewards of keeping a long-term perspective
96-Year-Old Secretary Quietly Amasses a Fortune Stocks can make you rich, Dear Students ... but it takes time
Woman buys 3 shares of Abbott Labs at age 26 When she dies at 100, she leaves $7 million to her favorite college

High Frequency Trading (HFT)
FINRA High-Frequency Trading (HFT) Concerns
  But this guy says that HFT is good for us! Arrgh!
  Brad Katsuyama, the Hero of Flash Boys, begs to differ. "The system is rigged."   And he started IEX to level the playing the field
    Mr. Katsuyama's full speech   The link above is an excerpt
  SEC gives approval to IEX to become a stock exchange
    Capital Group, parent company of The American Funds, and other large financial firms and pension funds backed IEX
How Robinhood makes money on $0 trades   Investopedia is skeptical but not very critical of Robinhood.
Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders
    However, this guy claims the spreads on Robinhood are very high.

Warren Buffett and Berkshire Hathaway
The History of Berkshire Hathaway Class B Shares

Online Audio Lectures
Chapter 5 - Lecture 1 - Slides 1 to 10       Introduction to Stocks - Historical Returns - Advantages and Disadvantages
Chapter 5 - Lecture 2 - Slides 11 to 33    The Stock Markets (a.k.a. The Capital Markets)
Chapter 5 - Lecture 3 - Slides 34 to 47    Stock Transactions, Transaction Costs, and Stock Quotes
Chapter 5 - Lecture 4 - Slides 48 to 60    Market Averages and Indexes; Volatility Reexamined
Chapter 5 - Lecture 4 - Slides 61 to 74    Stock Characteristics and Measurements
Chapter 5 - Lecture 6 - Slides 75 to 85    Types of Stocks, Growth versus Value, and Market Capitalization
Chapter 5 - Lecture 7 - Slides 86 to 93    Stock Investment Strategies

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 5 - Lecture 1 - Slides 1 to 10       Introduction to Stocks - Historical Returns - Advantages and Disadvantages
Chapter 5 - Lecture 2 - Slides 11 to 33    The Stock Markets (a.k.a. The Capital Markets)
Chapter 5 - Lecture 3 - Slides 34 to 47    Stock Transactions, Transaction Costs, and Stock Quotes
Chapter 5 - Lecture 4 - Slides 48 to 60    Market Averages and Indexes; Volatility Reexamined
Chapter 5 - Lecture 5 - Slides 61 to 74    Stock Characteristics and Measurements
Chapter 5 - Lecture 6 - Slides 75 to 85    Types of Stocks, Growth versus Value, and Market Capitalization
Chapter 5 - Lecture 7 - Slides 86 to 93    Stock Investment Strategies

Online Audio/Video Lectures on iTunes
Scroll to individual presentations    (iTunes does not allow direct links to the presentations.)

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 5 - Lecture 1 - Slides 1 to 10       Introduction to Stocks - Historical Returns - Advantages and Disadvantages
Chapter 5 - Lecture 2 - Slides 11 to 33    The Stock Markets (a.k.a. The Capital Markets)
Chapter 5 - Lecture 3 - Slides 34 to 47    Stock Transactions, Transaction Costs, and Stock Quotes
Chapter 5 - Lecture 4 - Slides 48 to 60    Market Averages and Indexes; Volatility Reexamined
Chapter 5 - Lecture 5 - Slides 61 to 74    Stock Characteristics and Measurements
Chapter 5 - Lecture 6 - Slides 75 to 85    Types of Stocks, Growth versus Value, and Market Capitalization
Chapter 5 - Lecture 7 - Slides 86 to 93    Stock Investment Strategies

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 5 - Lecture 1 - Slides 1 to 10       Introduction to Stocks - Historical Returns - Advantages and Disadvantages
Chapter 5 - Lecture 2 - Slides 11 to 33    The Stock Markets (a.k.a. The Capital Markets)
Chapter 5 - Lecture 3 - Slides 34 to 47    Stock Transactions, Transaction Costs, and Stock Quotes
Chapter 5 - Lecture 4 - Slides 48 to 60    Market Averages and Indexes; Volatility Reexamined
Chapter 5 - Lecture 5 - Slides 61 to 74    Stock Characteristics and Measurements
Chapter 5 - Lecture 6 - Slides 75 to 85    Types of Stocks, Growth versus Value, and Market Capitalization
Chapter 5 - Lecture 7 - Slides 86 to 93    Stock Investment Strategies

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 3 Mar    Introduction to Stocks, Historical Returns, Pros and Cons, The Stock Markets
TueThur Lecture 2 Audio -- 5 Mar    Stock Transactions and Fees; Black Monday - October 19, 1987; Market Simulation
TueThur Lecture 3 Audio -- 10 Mar    Market Averages & Indexes, Worksheet #1
TueThur Lecture 4 Audio -- 12 Mar    Worksheet #2, Dividends, Types of Stocks, Capitalization, Zoom
TueThur Lecture 5 Audio -- 17 Mar    Worksheet #3, Investing Strategies (Sessions continues with chapter 6 below)

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 5 using Zoom -- 17 Mar    Worksheet #3, Investing Strategies (Sessions continues with chapter 6 below)
    Please excuse my appearance. I had no idea the camera was still recording me during the presentation!

Chapter 6:
Common
Stock
Valuations


Chapter 6 Materials
Presentation file
Study Guide
Chapter 6 Assignment - Commentary
Chapter 6 Bonus Assignment - Commentary   Southwestern's Library now has The Value Line 600
    The full version of The Value Line is available at the Chula Vista and San Diego Central Libraries.
     It is also available at selected San Diego branch libraries


Pretzels Unlimited Discounted Cash Flow Spreadsheet   (Lecture 2)
Valuation Worksheet 1 - Answer Key
   Worksheet #1 Zoom online teleconferencing session - 26 Mar
   Jimba Jomba Jumba Juice Discounted Cash Flow Spreadsheet
Valuation Worksheet 2 - Answer Key
   Worksheet #2 Zoom online teleconferencing session - 2 Apr

Chapter 6 Formulas
Present Value Table  (Needed for Dividend Discount Model calculations)

Online Audio Lectures
Chapter 6 - Lecture 1 - Slides 1 to 16    Introduction to Valuation Techniques, Price Ratio Models
Chapter 6 - Lecture 2 - Slides 17 to 34    Dividend Discount Models
Chapter 6 - Lecture 3 - Slides 35 to 57    Discounted Cash Flow Model, The Value Line

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 6 - Lecture 1 - Slides 1 to 16    Introduction to Valuation Techniques, Price Ratio Models
Chapter 6 - Lecture 2 - Slides 17 to 34    Dividend Discount Models
Chapter 6 - Lecture 3 - Slides 35 to 57    Discounted Cash Flow Model, The Value Line

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 6 - Lecture 1 - Slides 1 to 16    Introduction to Valuation Techniques, Price Ratio Models
Chapter 6 - Lecture 2 - Slides 17 to 34    Dividend Discount Models
Chapter 6 - Lecture 3 - Slides 35 to 57    Discounted Cash Flow Model, The Value Line

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 6 - Lecture 1 - Slides 1 to 16    Introduction to Valuation Techniques, Price Ratio Models
Chapter 6 - Lecture 2 - Slides 17 to 34    Dividend Discount Models
Chapter 6 - Lecture 3 - Slides 35 to 57    Discounted Cash Flow Model, The Value Line

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 17 Mar    Introduction to Valuation Techniques, Price Ratio Models (continued from last chapter 5 lecture above)
TueThur Lecture 2 Audio -- 19 Mar    Dividend Discount Models, Discounted Cash Flow Model, Office hour with some students
TueThur Lecture 3 Audio -- 31 Mar    Review and Finish Dividend Discount Models and Discounted Cash Flow Model, Worksheet #2
TueThur Lecture 4 Audio -- 2 Apr    Review for Exam #2, Worksheet #2, Discounted Cash Flow Model Spreadsheet

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 17 Mar    Introduction to Valuation Techniques, Price Ratio Models (continued from last chapter 5 lecture above)
    Please excuse my appearance. I had no idea the camera was still recording me during the presentation!
TueThur Lecture 2 using Zoom -- 19 Mar    Dividend Discount Models, Discounted Cash Flow Model
TueThur Lecture 3 using Zoom -- 31 Mar    Review and Finish Dividend Discount Models and Discounted Cash Flow Model, Worksheet #2
TueThur Lecture 4 using Zoom -- 2 Apr    Review for Exam #2, Worksheet #2, Discounted Cash Flow Model Spreadsheet

Chapter 17:
Financial
Statements
and
Ratio
Analysis


Chapter 17 Materials
Presentation file
Study Guide
Financial Ratios Assignment - Commentary
Financial Ratios Formulas

Financial Statements
Ford Balance Sheet
Ford Income Statement
Ford Cash Flow Statement  a.k.a. Statement of Cash Flows

Online Audio Lectures
Chapter 17 - Lecture 1 - Slides 1 to 19   Financial Statements & Ratio Analysis
Chapter 17 - Lecture 2 - Slides 20 to 38   More Ratio Analysis

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 17 - Lecture 1 - Slides 1 to 19   Financial Statements & Ratio Analysis
Chapter 17 - Lecture 2 - Slides 20 to 38   More Ratio Analysis

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 17 - Lecture 1 - Slides 1 to 19   Financial Statements & Ratio Analysis
Chapter 17 - Lecture 2 - Slides 20 to 38   More Ratio Analysis

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 17 - Lecture 1 - Slides 1 to 19   Financial Statements & Ratio Analysis
Chapter 17 - Lecture 2 - Slides 20 to 38   More Ratio Analysis

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 7 Apr    Financial Statement and Ratio Analysis  Ooops! I forgot to press [Record]! Please use the two online presentations above to slide #25
TueThur Lecture 2 Audio -- 9 Apr   More Ratio Analysis   Lecture continues with Chapter 7 below

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 7 Apr    Financial Statement and Ratio Analysis  Ooops! I forgot to press [Record]! Please use the two online presentations above to slide #25
TueThur Lecture 1 using Zoom -- 9 Apr    More Ratio Analysis   Lecture continues with Chapter 7 below

Chapter 7:
Stock Price Behavior
and Market Efficiency


Chapter 7 Materials
Presentation file
Study Guide
Assignment - Commentary

New York Times says that women are better investors than men! - And CNN agrees.
Wise advice: Do the opposite of what everyone else is doing!  The 2000's were a rough decade for investors.
Politics & the Markets  "Poli-" means "many" and "-tics" are blood sucking insects.

Online Audio Lectures
Chapter 7 - Lecture 1 - Slides 1 to 26   Stock Price Behavior & Market Efficiency
Chapter 7 - Lecture 2 - Slide 12 Revisited   Slide 12 Revisited - After the March selloff

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 7 - Lecture 1 - Slides 1 to 26   Stock Price Behavior & Market Efficiency
Chapter 7 - Lecture 2 - Slide 12 Revisited   Slide 12 Revisited - After the March selloff

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 7 - Lecture 1 - Slides 1 to 26   Stock Price Behavior & Market Efficiency
Chapter 7 - Lecture 2 - Slide 12 Revisited   Slide 12 Revisited - After the March selloff

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 7 - Lecture 1 - Slides 1 to 26   Stock Price Behavior & Market Efficiency
Chapter 7 - Lecture 2 - Slide 12 Revisited   Slide 12 Revisited - After the March selloff

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 9 Apr   Stock Price Behavior & Market Efficiency  Lecture continues from Chapter 7 above
TueThur Lecture 2 Audio -- 14 Apr   Investing All Stars, Famous Myths and Stupid Sayings  Lecture continues with Chapter 8 below

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 9 Apr    Stock Price Behavior & Market Efficiency   Lecture continues from Chapter 7 above
TueThur Lecture 2 using Zoom -- 14 Apr    Investing All Stars, Famous Myths and Stupid Sayings  Lecture continues with Chapter 8 below

Chapter 8:
Behavioral Finance
and the Psychology
of Investing


Chapter 8 Materials
Presentation file
Study Guide
Optional Bonus Assignment - Commentary
Technical Analysis Presentation: Video - Video (CC) - Audio   (Use for bonus assignment)
Random Charts Spreadsheet (Press [F9] repeatedly.) - Commentary

Who wants to be a Trader/Speculator?
Learn to be a trader in 3 days!  Special price! Only $1,495!
Traders Boot Camp!   Only $6,900 -- That's $1,000 off the regular price!
The Last Resistance Level Before a Major S&P 500 Breakout    Example of a Technical Analyst telling you that the market could go up or down.
Bearish Engulfing Pattern!
Kiplinger is not impressed
Warrior Trading  Three levels of suckers, ah, I mean traders!

"The investor's chief problem, and even his worst enemy, is likely to be himself." -- Benjamin Graham
Buy High, Sell Low? Sure, why not?!
Frontline Documentary: Betting on the Market - 1997   Watch for the couple from New York who put everything into AMLN. Starts around 27 minutes.
  AMLN - Amylin Pharmaceuticals   The next year, AMLN quickly lost over 95% of its value.

Series 7 Stockbroker Exam Specifications  FINRA (Financial Industry Regulatory Authority)
Securities Industry Essentials: New Exam Coming!  FINRA wants to make it easier for you to enter the industry
Securities Industry Essentials: It's Here!  The SIE, Securities Industry Essentials, exam is now available
Securities Industry Essentials: Content Outline  Here is the content outline -- much of what it is in BUS-123, Introduction to Investments!
Securities Industry Essentials: Practice Exam  Cool! FINRA is offering a free practice exam. (Notice they showcase a woman on the webpage!

Online Audio Lectures
Chapter 8 - Lecture 1 - Slides 1 to 29    Behavioral Finance & the Psychology of Investing

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 8 - Lecture 1 - Slides 1 to 29    Behavioral Finance & the Psychology of Investing

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 8 - Lecture 1 - Slides 1 to 29    Behavioral Finance & the Psychology of Investing

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 8 - Lecture 1 - Slides 1 to 29    Behavioral Finance & the Psychology of Investing

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 2 Audio -- 14 Apr   Behavioral Finance and the Psychology of Investing, Begin Technical Analysis  Lecture continues from Chapter 7 above
TueThur Lecture 1 Audio -- 16 Apr   Finish Technical Analysis, Review Exam #3

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 14 Apr    Behavioral Finance and the Psychology of Investing, Begin Technical Analysis   Lecture continues from Chapter 7 below
TueThur Lecture 2 using Zoom -- 16 Apr    Finish Technical Analysis, Review Exam #3


Part 3: Bonds (a.k.a. Fixed, Fixed Income)

Chapter 9:
Introduction to Bonds


Chapter 9 Materials
Presentation file
Study Guide
Assignment - Commentary

Bond Quote Sources
FINRA bond search page   (Careful: Choose Corporate or Municipal for quick or advanced search.)
FINRA bond home page   Also includes a bond yield curve that we discuss in chapter 10.
  Presentation: Video - Video (CC) - Audio

Composite Rates
Composite Bonds Rates from Fidelity   Can be used for question #4 of assignment.
Federal Reserve Bank of St. Louis Bond Research Web Site    Great resource for researching about bonds in aggregate (but no individual bond quotes).
Treasury and Various Other Bond Rates from New York Times    Also shows yield curve which we discuss in chapter 10.
What should we do with Fannie Mae and Freddie Mac?
We are still trying to decide what to do with Fannie Mae and Freddie Mac
    Here is an explanation of how they currently are working and an incremental change that may or may not help.

Bond Quote Examples
Ford: Mar 09 - Oct 09 - Jun 10 - Oct 10 - Mar 13 - Oct 14 - Oct 17 - Apr 18 - Oct 18 - Apr 19 - Apr 20
   Presentation: Video - Video (CC) - Audio
Muni Bonds - Poway:
Feb 09 - Jun 10 - Oct 10 - Mar 11 - Oct 11 - Mar 12 - Oct 12 - Mar 15 - Oct 18 - Apr 19 - Apr 20
   Presentation: Video - Video (CC) - Audio
More Muni Bonds Quote Examples: Puerto Rico - City of Carlsbad - Medical Establishments - 2015 March
California Municipal Bond Quotes - Video - Video (CC) - Audio  Los Angeles Times, 7 July 2016
Advanta: May 09 - Video - Video (CC) - Audio - Sure 'nuff! They went under!
  Yet another example of the eternal tug o' war between risk and return

Bearer Bond Images  From a time when bonds had "coupons" attached to them.
Can anyone predict future interest rates?   Doesn't seem so.

Online Audio Lectures
Chapter 9 - Lecture 1 - Slides 1 to 24   Introduction to Bonds, Bonds & Interest Rates
Chapter 9 - Lecture 2 - Slides 25 to 41   Types of Bonds, Bond Ratings

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 9 - Lecture 1 - Slides 1 to 24   Introduction to Bonds, Bonds & Interest Rates
Chapter 9 - Lecture 2 - Slides 25 to 41   Types of Bonds, Bond Ratings

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 9 - Lecture 1 - Slides 1 to 24   Introduction to Bonds, Bonds & Interest Rates
Chapter 9 - Lecture 2 - Slides 25 to 41   Types of Bonds, Bond Ratings

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 9 - Lecture 1 - Slides 1 to 24   Introduction to Bonds, Bonds & Interest Rates
Chapter 9 - Lecture 2 - Slides 25 to 41   Types of Bonds, Bond Ratings

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 21 Apr   Introduction to Bonds, Bonds & Interest Rates, Bond Ratings & Quotes
TueThur Lecture 2 Audio -- 23 Apr   Types of Bonds in Less than 10 Minutes

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 21 Apr    Introduction to Bonds, Bonds & Interest Rates, Bond Ratings & Quotes
TueThur Lecture 2 using Zoom -- 23 Apr    Types of Bonds in Less than 10 Minutes

Chapter 10:
Bond Prices and Yields


Chapter 10 Materials
Presentation file
Study Guide
Bond Valuation Assignment - Commentary
Bond Valuation Worksheet #1 - Commentary - Answer Key
Bond Valuation Worksheet #2 - Answer Key
Bond Valuation Worksheet #3 - Answer Key - Zoom Recorded Session
Bond Valuation Formulas
Present Value Tables
Bond Calculator Spreadsheet - Video - Video (CC) - Audio   (Lecture 2)

The Bond Yield Curve and Composite Rates
Bond Yield Curve from New York Times   Treasury bonds yield curve and Treasury rates
Composite Bonds Rates from Fidelity

Online Audio Lectures
Chapter 10 - Lecture 1 - Slides 1 to 19    Bond Yield Calculations
Chapter 10 - Lecture 2 - Slides 20 to 39    The Yield Curve, Bond Valuation

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 10 - Lecture 1 - Slides 1 to 19    Bond Yield Calculations
Chapter 10 - Lecture 2 - Slides 20 to 39    The Yield Curve, Bond Valuation

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 10 - Lecture 1 - Slides 1 to 19    Bond Yield Calculations
Chapter 10 - Lecture 2 - Slides 20 to 39    The Yield Curve, Bond Valuation

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 10 - Lecture 1 - Slides 1 to 19    Bond Yield Calculations
Chapter 10 - Lecture 2 - Slides 20 to 39    The Yield Curve, Bond Valuation

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 23 Apr    Bond Yield Calculations, Current Yield, Yield-to-Maturity, Start Worksheet #1
TueThur Lecture 2 Audio -- 28 Apr    Yield Curve, Bond Valuation Calculations, Worksheets #1 and #2

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 23 Apr    Bond Yield Calculations, Current Yield, Yield-to-Maturity, Start Worksheet #1
TueThur Lecture 2 using Zoom -- 28 Apr    Yield Curve, Bond Valuation Calculations, Worksheets #1 and #2

Chapter 18:
Hybrid Securities
Preferred Stocks and
Convertible Securities


Chapter 18 Materials
Presentation file   For Spring 2020, this chapter is optional. Please see three questions on exam #4 below.
Study Guide
Convertible Securities Optional Bonus Assignment - Commentary
Convertible Securities Worksheet - Commentary - Answer Key

The Three Questions on Exam #4 about Hybrid Securities

Online Audio Lectures
Chapter 18 - Lecture 1 - Slides 1 to 17    Preferred Stock & Convertible Securities

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 18 - Lecture 1 - Slides 1 to 17    Preferred Stock & Convertible Securities

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 18 - Lecture 1 - Slides 1 to 17    Preferred Stock & Convertible Securities

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 18 - Lecture 1 - Slides 1 to 17    Preferred Stock & Convertible Securities

Face-to-Face Class Audio Lectures (BUS-123-01)
Optional chapter. No face-to-face sessions. Please see three questions and answers on exam #4 in this section and in announcements above.


Part 4: Portfolio

Chapter 11:
Diversification
and Risky Asset
Allocation


Chapter 11 Materials
Presentation file
Study Guide
Assignment - Commentary

Bonds in Retirement  versus  Stocks in Retirement  versus  Stock Fund and Bond Fund  versus  Balanced in Retirement
  Presentation: Video - Video (CC) - Audio

The Argument for a Balanced Approach - As Fidelity Investments Sees It
Why Diversification Matters - Video - Video (CC) - Audio    Fidelity's take on diversification

The Standard and Poors 500 Index Revisited
The S&P 500 versus the S&P 50?    Is the S&P 500 really a broadly-based, well-diversified index when 56% of the return comes from 50 companies?

Online Audio Lectures
Chapter 11 - Lecture 1 - Slides 1 to 27    Diversification and Risky Asset Allocation

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 11 - Lecture 1 - Slides 1 to 27    Diversification and Risky Asset Allocation

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 11 - Lecture 1 - Slides 1 to 27    Diversification and Risky Asset Allocation

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 11 - Lecture 1 - Slides 1 to 27    Diversification and Risky Asset Allocation

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio - 30 Apr    Diversification and Asset Allocation; Discuss Exam #4

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 30 Apr    Diversification and Asset Allocation; Discuss Exam #4


Part 5: Options and Futures (Derivatives)

Chapter 15:
Stock Options


Chapter 15 Materials
Presentation file
Study Guide
Bonus Assignment - Commentary
Options Notes Sheet
Options Worksheet - Commentary - Answer Key

Options Chains (a.k.a. Quotes)
Options Chains (a.k.a. Quotes) on Yahoo Finance and Marketwatch.com: Video - Video (CC) - Audio   Johnson & Johnson

Untold Riches Can Be Yours Gambling, uh, I mean, Investing in Options!
Online Trading Academy, 5-Day, 10 Three-hour Sessions, Only $5,500!
   That's only $183.33 per hour -- what a deal! You will spend more in one hour than this entire 3-unit class. Must be worth it!
The Day Trading Academy    This one is only $2997! Hurray! They need new suckers ... uh, I mean, traders!
Ooops! Optionetics is now Tom's Trading Room    We referred to Optionetics in the presentation. This world changes quickly.
TradeWins.com    These folks have got to be seen to be believed!
Wait! Wait! Jim tells you why he buys options!   Update: He no longer trades options...

Stay Away From Options!
Trader believes he has no risk options position, then promptly loses 2,000% on the transaction "I have no money at risk."

Online Audio Lectures
Chapter 15 - Lecture 1 - Slides 1 to 16    Stock Options; Calls and Puts
Chapter 15 - Lecture 2 - Slides 17 to 30    Options Characteristics; The Break-even Point
Chapter 15 - Lecture 3 - Slides 31 to 42    Options Strategies; Covered Calls and Naked Puts
Chapter 15 - Lecture 4 - Slides 43 to 52    Employee Stock Options; Final Comments

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 15 - Lecture 1 - Slides 1 to 16    Stock Options; Calls and Puts
Chapter 15 - Lecture 2 - Slides 17 to 30    Options Characteristics; The Break-even Point
Chapter 15 - Lecture 3 - Slides 31 to 42   Options Strategies; Covered Calls and Naked Puts
Chapter 15 - Lecture 3 - Slides 43 to 52    Employee Stock Options; Final Comments

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 15 - Lecture 1 - Slides 1 to 16    Stock Options; Calls and Puts
Chapter 15 - Lecture 2 - Slides 17 to 30    Options Characteristics; The Break-even Point
Chapter 15 - Lecture 2 - Slides 31 to 42    Options Strategies; Covered Calls and Naked Puts
Chapter 15 - Lecture 3 - Slides 43 to 52    Employee Stock Options; Final Comments

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 15 - Lecture 1 - Slides 1 to 16    Stock Options; Calls and Puts
Chapter 15 - Lecture 2 - Slides 17 to 30    Options Characteristics; The Break-even Point
Chapter 15 - Lecture 2 - Slides 31 to 42    Options Strategies; Covered Calls and Naked Puts
Chapter 15 - Lecture 3 - Slides 43 to 52    Employee Stock Options; Final Comments

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 5 May  Options Contracts and Futures Contracts (continued with chapter 14 below)

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 5 May   Options Contracts and Futures Contracts (continued with chapter 14 below)

Chapter 14:
Futures Contracts


Chapter 14 Materials
Presentation file
Study Guide   No assignment
Foreign currency trading is easy - an easy way to lose money   Los Angeles Times

Online Audio Lectures
Chapter 14 - Lecture 1 - Slides 1 to 14    Futures Contracts

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 14 - Lecture 1 - Slides 1 to 14    Futures Contracts

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 14 - Lecture 1 - Slides 1 to 14

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 14 - Lecture 1 - Slides 1 to 14    Futures Contracts

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 5 May  Options Contracts and Futures Contracts (continued from chapter 15 above)

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 5 May   Options Contracts and Futures Contracts (continued from chapter 15 above)


Part 6: Margin Accounts & Selling Short

Chapter 2:
Buying and
Selling
Securities


Chapter 2 Materials
Presentation file
Study Guide
Recommended Exercise  Not an assignment! There is no assignment.
Margin and Shorting Worksheet - Commentary - Answer Key

Selling short  a.k.a. short selling, shorting, going short
Investopedia explains short selling   Don't do it! Don't sell short! It is just too risky!
Help! My short position got crushed and now I owe E-Trade $106,445.56!   Peter Lynch says, "Never short a stock." This guy had to learn the hard way.
The First Short Sale   And it does not end well for the guy who did it...

Are there any honest stockbrokers?  Be careful out there! Get a good referral.

Don't Bet on the Market
Frontline: Betting on the Market   1996/1997 discussion of the late 1990's market euphoria.
AMLN's stock price history   Go to minute 27:15 of the video and listen to one investor's idea of a good stock choice.

Online Audio Lectures
Chapter 2 - Lecture 1 - Slides 1 to 8    Brokerages Firms and Services
Chapter 2 - Lecture 3 - Slides 9 to 24    Buying on Margin and Margin Accounts (It is risky!)
Chapter 2 - Lecture 3 - Slides 25 to 42    Shorting Stocks (Don't do it! It is even more dangerous than margining!)

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Chapter 2 - Lecture 1 - Slides 1 to 8    Brokerages Firms and Services
Chapter 2 - Lecture 2 - Slides 9 to 24    Buying on Margin and Margin Accounts (It is risky!)
Chapter 2 - Lecture 3 - Slides 25 to 42    Shorting Stocks (Don't do it! It is even more dangerous than margining!)

Online Audio/Video Lectures on YouTube (Closed captioning available)
Chapter 2 - Lecture 1 - Slides 1 to 8    Brokerages Firms and Services
Chapter 2 - Lecture 2 - Slides 9 to 24    Buying on Margin and Margin Accounts (It is risky!)
Chapter 2 - Lecture 3 - Slides 25 to 42    Shorting Stocks (Don't do it! It is even more dangerous than margining!)

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Chapter 2 - Lecture 1 - Slides 1 to 8    Brokerages Firms and Services
Chapter 2 - Lecture 2 - Slides 9 to 24    Buying on Margin and Margin Accounts (It is risky!)
Chapter 2 - Lecture 3 - Slides 25 to 42    Shorting Stocks (Don't do it! It is even more dangerous than margining!)

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 7 May   Brokerage Accounts, Buying on Margin, Shorting

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 7 May   Brokerage Accounts, Buying on Margin, Shorting


Part 7: Miscellaneous Topics in Investing

Topic 1:
Retirement Accounts,
Regular Accounts,
and Annuities


Retirement Accounts, Regular Accounts, and Annuities Materials
Presentation file
Study Guide   No assignment

Annuities suck ...  And you can tell the insurance companies that I said that!
What is an Annuity  Investopedia's lame definition of annuities (without all the downsides)
Confessions of an indexed annuity salesperson
There's a lot not to trust about annuities
You just gave your annuity agent a great vacation!
What's In It For the Annuity Salesperson! - Commentary
Too good to be true?   It's probably an indexed annuity

Online Audio Lectures
Account Types - Lecture 1 - Slides 1 to 17  Retirement Accounts, Regular Accounts, and Annuities

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Account Types - Lecture 1 - Slides 1 to 17  Retirement Accounts, Regular Accounts, and Annuities

Online Audio/Video Lectures on YouTube (Closed captioning available)
Account Types - Lecture 1 - Slides 1 to 17  Retirement Accounts, Regular Accounts, and Annuities

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Account Types - Lecture 1 - Slides 1 to 17  Retirement Accounts, Regular Accounts, and Annuities

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 12 May  Retirement Accounts, Regular Accounts, and Annuities   Starts at 00:00

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 12 May   Retirement Accounts, Regular Accounts, and Annuities   Starts at 00:00

Topic 2:
Real Estate and
Real Estate
Investments Trusts
(REITs)


Real Estate and REITs Materials
Presentation file
Study Guide   No assignment
Worksheet - Commentary - Answer Key
This scam artist ... uh, I mean, reality show star wants to teach you how to flip real estate.  The cost for this training? Only $34,000!

Online Audio Lectures
Real Estate - Lecture 1 - Slides 1 to 18   Real Estate and Real Estate Investment Trusts

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Real Estate - Lecture 1 - Slides 1 to 18   Real Estate and Real Estate Investment Trusts

Online Audio/Video Lectures on YouTube (Closed captioning available)
Real Estate - Lecture 1 - Slides 1 to 18   Real Estate and Real Estate Investment Trusts

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Real Estate - Lecture 1 - Slides 1 to 18   Real Estate and Real Estate Investment Trusts

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 12 May   Real Estate and Real Estate Investment Trusts   Starts at 34:00
Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 12 May   Real Estate and Real Estate Investment Trusts   Starts at 34:00

Topic 3:
Precious Metals,
Art, and
Collectibles


Gold, Precious Metals, Art, and Collectibles Materials
Presentation   No assignment
The only question on the final exam from this presentation is that you should just stay away from gold, precious metals, collectibles, art, etc.

Why gold is a bad investment

Online Audio Lectures
Precious Metals, Art, etc. - Lecture 1 - Slides 1 to 6   Precious Metals, Art, and Collectibles

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Precious Metals, Art, etc. - Lecture 1 - Slides 1 to 6   Precious Metals, Art, and Collectibles

Online Audio/Video Lectures on YouTube (Closed captioning available)
Precious Metals, Art, etc. - Lecture 1 - Slides 1 to 6   Precious Metals, Art, and Collectibles

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Precious Metals, Art, etc. - Lecture 1 - Slides 1 to 6   Precious Metals, Art, and Collectibles

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 12 May   Precious Metals, Art, and Collectibles   Starts at 1:04:00
Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 12 May   Precious Metals, Art, and Collectibles   Starts at 1:04:00

Topic 4:
Cryptocurrencies


Cryptocurrencies Materials
Presentation   No assignment
No questions on the final exam from this presentation.

Google search of "cryptocurrency"   Only 79,100,000 hits ...

Online Audio Lectures
Cryptocurrencies - Lecture 1 - Slides 1 to 8   Cryptocurrencies

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Cryptocurrencies - Lecture 1 - Slides 1 to 8   Cryptocurrencies

Online Audio/Video Lectures on YouTube (Closed captioning available)
Cryptocurrencies - Lecture 1 - Slides 1 to 8   Cryptocurrencies

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Cryptocurrencies - Lecture 1 - Slides 1 to 8   Cryptocurrencies

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 12 May   Cryptocurrencies   Starts at 1:14:00
Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 12 May   Cryptocurrencies   Starts at 1:14:00

Topic 5:
Starting
A Business


Starting a Business Materials
Presentation   No assignment
No questions on the final exam from this presentation.

Score San Diego (Service Corps of Retired Executives)
Kiva
Accion San Diego  Careful! Don't go to accionsandiego.com. It's a phishing site.
South San Diego Small Business Development Center

Online Audio Lectures
Starting a Business - Lecture 1 - Slides 1 to 3   Starting a Business

Online Audio/Video Lectures (Apple mobile users: Search "BUS123" in iTunes.)
Starting a Business - Lecture 1 - Slides 1 to 3   Starting a Business

Online Audio/Video Lectures on YouTube (Closed captioning available)
Starting a Business - Lecture 1 - Slides 1 to 3   Starting a Business

Online Audio/Video Lectures on 3CMediaSolutions (Excellent closed captioning available)
Starting a Business - Lecture 1 - Slides 1 to 3   Starting a Business

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 14 May   The Ultimate Investment: Starting a Business   Plus Baffle the Broker, Using The Value Line, Internal Rate of Return

Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01)
TueThur Lecture 1 using Zoom -- 14 May   The Ultimate Investment: Starting a Business   Plus Baffle the Broker, Using The Value Line, Internal Rate of Return

Text Book

Here are links to sellers of the 8th, 7th, 6th, 5th, and 4th edition of the text book: "Fundamentals of Investments" by Jordan & Miller
The text book is available at the college book store as well as numerous other outlets.
The text book is usually also available across the street at Otay Books.
There are now web-based versions of text books available at www.coursesmart.com.
Except for the data being updated, there are not many differences between the 4th, 5th, 6th, 7th, and 8th editions.
Also, there are two copies in the main campus library on reserve. You can read them there but they can not be checked out
Please listen to the syllabus commentary about the textbook. (Hint, hint. Wink, wink. Nudge, nudge.)
8th Edition -- This is the "official" book of the Spring 2019 class
Amazon: https://www.amazon.com/Fundamentals-Investments-Management-Bradford-Jordan/dp/1259720691/ref=dp_ob_title_bk
eBay.com: Various editions available on eBay
Chegg.com: https://www.chegg.com/etextbooks/fundamentals-of-investments-valuation-and-management-8th-edition-9781260048063-1260048063?trackid=492f0b79aadc&strackid=86010ff9ab5a&ii=3
7th Edition -- Very similar to the current edition (but cheaper)
Amazon: https://www.amazon.com/MP-Fundamentals-Investments-Stock-Trak-card/dp/0078115663/ref=sr_1_2?ie=UTF8&qid=1470412788&sr=8-2&keywords=fundamentals+of+investing+7th+edition+jordan
eBay.com: Various editions available on eBay
Chegg.com: http://www.chegg.com/textbooks/fundamentals-of-investments-7th-edition-9780077861636-0077861639?trackid=67a86a11&strackid=6c290340&ii=5
6th Edition -- Also very similar to the current edition (but even cheaper)
Amazon: http://www.amazon.com/Fundamentals-Investments-Stock-Trak-Mcgraw-Hill-Insurance/dp/0077457641/ref=dp_ob_title_bk
eBay.com: Various editions available on eBay
Chegg.com: http://www.chegg.com/textbooks/fundamentals-of-investments-with-stock-trak-card-6th-edition-9780077457648-0077457641?trackid=YAJcVwrZ&ii=1&om_ss=1
5th Edition -- Again, very similar to the current edition (but even more cheaper)
Amazon: http://www.amazon.com/Fundamentals-Investments-Stock-Trak-Mcgraw-Hill-Insurane/dp/0077283295/ref=sr_1_6?s=books&ie=UTF8&qid=1322833773&sr=1-6
eBay.com: Various editions available on eBay
Chegg.com: http://www.chegg.com/textbooks/fundamentals-of-investments-w-sp-card-stock-trak-card-5th-edition-9780077283292-0077283295?trackid=5a730d99&autosuggest=1&uqry=9780077283292&ii=1
4th Edition -- You guessed it! Very similar to the current edition (but probably the cheapest)
Amazon: http://www.amazon.com/Fundamentals-Investments-McGraw-Hill-Finance-Insurance/dp/0073027219/ref=sr_11_1?ie=UTF8&qid=1199133503&sr=11-1
eBay.com: Various editions available on eBay

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