This webpage provides links to material for
Security Analysis (BUS 417-4).
THIS IS AN ARCHIVE PAGE,
FOR THE CURRENT COURSE WEBPAGE GO TO
BUS 417-3 Equity Security Analysis


Course Materials and Descriptions
Click here for BUS 417 Course Outline
Click here for BUS 417 Course Syllabus
Click here for Math Pretest
Click here for a description of the Game
Click here for a description of presentations model This is only one possible model, better to look at actual slide presentations.
Description of Presentation Scoring and Optional Writeup Example 1 and Example 2
See also the presentations link for a history of .ppt slides.
Click here for description of group formation
Click here for the Optional Group Evaluation Worksheet
Click here for Examples of Possible Approaches to Preparing Security Analysis Report
(these are only examples, not requirements)
Click here for old examples of submitted Term Paper Security Report and here for recent examples
Click here for the Security Analysis Evaluation Worksheet
Click here for Tips on Writing the (Optional) Security Analysis/Term Paper
Click here for list of (optional) term paper topics
Two often used and free to access websites: Globe Investor and Bloomberg .
Click here for the Lecture Recordings

Explanation of Scoring System

Useful Supplementary Material
Historical Time Lines

Click here for 'old' interest tables.

Click here for the 'Philosophy of Investment' slide.

Zip file with British Museum cuneiform pictures

Errata List for Security Analysis and Investment Strategy



Important information about procedures regarding absence due to sickness
University Policy for academic honesty S10.01
Note that the takehome examination and the three assignments are individual work and no sharing of answers is allowed. Please consult S10.01, Schedule A, Sec. 2.3.6: a) using or attempting to use another individual's answers; b) providing questions and/or answers to other individuals.
These actions are considered under S10.01 to be cheating.


For those that would like to have .ppt or .pdf files of the lectures:

Click here for Lecture 1 Introduction; Supplementary material for lecture 1

Click here for Lecture 2 History and Life Annuities; Supplementary material for lecture 2
Chapter 4 from Pioneers vol.I and Usury and Early Government Debt Background and Life Annuity formula explanation
and Huygens and Expected Value and A simple example and Fixed Income Basics
Assignment #1 Due Week 4.

Click here for Lecture 3 More History and Evolution of Security Analysis; Supplementary material for lecture 3
See also VES chapter 2 for some further interesting images and discussion.

Click here for Lecture 4 Introduction to Fixed Income; Supplementary material for lecture 4
Bond info (Types of Canadian issues) and more bond info (IPOs, Housing Finance, Bond Book) and more bond market info (SIFMA data and BFS)
Mortgage Info (Insurance cost, structure of US and Canadian markets, US loss severity)
Copies of Tables used in Lecture 4 slides. (Old Altman tables, Canadian yield curve see tab4-5)
Negative Interest rates and Investing and Negative Interest rates by PIMCO
Assignment #2 Due Week 6.

Click here for Lecture 5 Fixed Income Portfolio Management; Supplementary material for lecture 5
Duration and Convexity Basics and Table 5-4 (Duration + Convexity Example) and Convexity and Time Value (Duration + Convexity + Theta Example)
and Cost of convexity (Worked examples using mathematica, Incorrect interpretation, solving the SAIS bond trader example)
Calculating Duration Weights

Click here for Lecture 6 MBS and Contingencies; Supplementary material for lecture 6
Copies of Tables used in Lecture 6 slides. (MBS example, MBS O/S, Price/Yield diagram, OAS Monte Carlo + Examples)
Basics of the static spread and Binomial Process Basics and Product Operator Basics
Assignment #3 Due Week 8.

Click here for Lecture 7 Fundamental Analysis and Value Investing; Supplementary material for lecture 7
Fisher stocks from the 1958 edition.

Click here for Lecture 8 Valuation Models for Stocks; Supplementary material for lecture 8
S&P files on Dividends, Buybacks, P/E
S&P 500 Historical EPS and Div. Yield From the S&P site.
TOL and MX (2005 X 2006) and MX and TOL (2010/10) and MX and TOL (11-10) and MX and TOL (12-3)

Click here for Lecture 9 Technical Analysis; Supplementary material for lecture 9

Click here for Lecture 10 Modern Finance; Supplementary material for lecture 10

Material for the Class Presentations

Click here for a link to the presentations .ppt
Click here to download the case materials for BUD, COS.UN and DAL Additional material on Industry Analysis is also included.


Supplementary Material for Lectures and Exams

Click here for Valuation of Equity Securities
Click here for chapter 2 of Early History of Financial Economics
Click here for chapter 3 of Early History of Financial Economics
2010 US Life Table & Example of life expectancy calculation and Life Annuity and Term Annuity for Age 90 and Using survival rates and de Moivre for Age 90 (Note: (1/22)*17152 = 780) and Assignment #1, 19-2
Background on Calculating a Life Table
Click here for the Retirement problem.
Mortgage question solution 12-3
Point Elasticity Note
Macaulay Duration of Term Annuity and Par bond
Macaulay duration for Semi-annual Zero Coupon Bond and Term Annuity Helps to compare with the Term Annuity solution in the link above.
Macaulay Duration for a Life Annuity
Geometric and Taylor Series
Taylor series approximation example (at .25) and Approximation with Geometric Series
Time Value/Convexity Tradeoff: Derivation of Formula
16-1 midterm Convexity-Volatility Question
Golden Ratio derivation
PWC Stock Based Compensation Guide
Netflix Content Accounting

Game Directions and Currency explanation
Results for trading game 15-2
Results for trading game 16-1
Results for trading game 16-2
Results for trading game 17-1
Results for trading game 17-2
Results for trading game 18-3
Results for trading game 19-2
Results for trading game 19-3
Results for trading game 20-2
Results for trading game 20-3

Info on mathematica programs: (* ... *) indicates a comment; //N means calculate a number (this has no impact on the equation being evaluated only on the output format); % means use the previously calculated value; * is multiplication, e.g., 2 * 2 = 4 and ^ is raise to the exponent, e.g., 5^2 = 25.

Previous Exams and Assignments
Midterms (to 18-1) + Assignments (from 19-2)
Assignments for 19-2
Click here for the 18-3 midterm
Click here for the 17-2 midterm
Click here for a sample answer to 1a
Click here for the 17-1 D100 midterm
Click here for the 17-1 E100 midterm
Click here for the 16-2 midterm
Click here for the 16-1 midterm
Click here for the 15-2 midterm
Click here for the 14-2 D100 midterm
Click here for the 14-2 E100 midterm
Click here for the 13-1 midterm
Click here for the 12-3 E100 midterm
Click here for the 12-3 D100 midterm
Click here for the 12-1 midterm
Click here for the 11-3 midterm
Click here for the 11-1 midterm
Click here for the 10-3 midterm
Click here for the 10-1 midterm
Click here for the 09-3 midterm (E100-MW)
Click here for the 09-3 midterm (E200-TTh)
Click here for the 07-1 midterm
Click here for 06-3-D1 midterm
Click here for 06-3-E1 midterm
Click here for the 06-1 midterm
Click here for 05-3-D1 midterm
Click here for the 05-3 midterm
Click here for the 05-1 midterm
Click here for the 04-3 Midterm
Click here for 03-3 Midterm
Click here for assignment questions.

Finals
Click here for the 20-3 D100 final
Click here for the 20-3 E100 final
Click here for 20-2 final
Click here for 19-3 E100 final
Click here for 19-3 D100 final
Click here for 19-2 final
Click here for the 18-3 Final
Click here for the 17-2 Final
Click here for the 17-1 D100 Final
Click here for the 17-1 E100 Final
Click here for the 16-2 E100 final
Click here for the 16-2 D100 final
Click here for 16-1 E-100 final
Click here for 16-1 D-100 final
Click here for 15-2 final
Click here for 14-2 final (e-100)
Click here for 14-2 final (d-100)
Click here for 12-3 final (d-100)
Click here for 12-1 final
Click here for the 11-3 final
Click here for 11-1 final
Click here for 10-3 final
Click here for the 10-1 final
Click here for 09-3 E200 final
Click here for 09-3 E100 final
Click here for the 07-1 final
Click here for the 06-1 final
Click here for the 05-3 final
Click here for the 05-1 final
Click here for 04-3 final
Click here for a sample final


Here is a link to some interesting items, magazine and journal articles :


In the event that some link does not activate, please try again later and if you are still unsuccessful, notify me by email at poitras@sfu.ca