BUS-123 - Introduction to Investments
Spring 2019

Southwestern Community College
Instructor: Frank Paiano


Next Exam

Exam #2
BUS-123-01
Face-to-Face
Tuesdays & Thursdays
8:35 a.m. to 10:00 am
Exam #2: Chapters 5 and 6
Chapter 5: Introduction to Stocks
Chapter 6: Common Stock Valuation
The exam will not be during class on Thursday, March 21st
We may have the exam online and have an exam session face-to-face on Friday, March 22nd, and/or Monday, April 1st
BUS-123-501 & 502
Online
Online Exam #2: Chapters 5 and 6
Chapter 5: Introduction to Stocks
Chapter 6: Common Stock Valuation
Thursday, March 21st, to Sunday, March 24th


Announcements

Announcements for Online Students  (Announcements also available in Canvas)

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 2019 - Video - Video (CC) - Audio
    Due: Please Introduce Yourself discussion forum
Week #0 - Presemester Announcement -  For students enrolled in the online BUS-123, Introduction to Investments, class
    Video - Video (CC) - Audio


Chapter Presentations, Handouts, and Assignments


Part 1:
Introduction


Syllabus:
BUS-123-01 Tuesday/Thursday - Audio commentary will be created during Lecture 1 on January 29th
  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)
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 iTunesU  You must install and use iTunes to view videos on iTunes University.

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


Chapter 1 Materials
Presentation  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 (Online students only) - 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 (8 Feb 2019)  We are off to a great start! (Except for the marijuana stock that someone recommended ...)
  Snapshot (15 Feb 2019)  What an awesome class! We are off to the races - up 7%!
  Snapshot (22 Feb 2019)  Wow! We are now up over 10%! You guys are AWESOME!
  Snapshot (1 Mar 2019)  Yet another banner week. We are up over 11%!
  Snapshot (8 Mar 2019)  Not bad. We only dropped less than 2% after this week's sell off. Well done!
  Snapshot (18 Mar 2019)  Hurray!Back up to over 11%! What a class!

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

Short-term Securities Investments
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 (Apple mobile users: Search "BUS123" in iTunes.)
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 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 -- 29 Jan    Introduction: What is an Investment?
TueThur Lecture 2 Audio -- 31 Jan    An Overview of the Investment Universe and a Brief History of Risk and Return
TueThur Lecture 3 Audio -- 5 Feb    Short-term Investments; Sample Portfolio

Chapter 4:
Mutual Funds


Chapter 4 Materials
Presentation
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

Strategies for Navigating the 401(k) Jungle -- Tom Petruno, LA Times
Jack Bogle sticks it to the 401(k) world  And Senator Oral Hatch is not pleased...

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   Careful! Fidelity disables your [Back] button

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 - Commentary
ICA: 85 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

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.
Fidelity Funds and all the other funds that they offer through their web site    Over 11,000!
Dodge and Cox Funds Performance
T. Rowe Price Funds
Franklin Templeton Funds

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

Top Ten Mutual Fund Companies by Assets  Investment News, John Waggoner, Sep 2017 - 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
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

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 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 -- 7 Feb   Introduction to Mutual Funds, Mutual Fund Fees
TueThur Lecture 2 Audio -- 12 Feb   Finish Mutual Fund Fees, Types of Mutual Funds
TueThur Lecture 3 Audio -- 14 Feb   Fund Families, A Sample Mutual Fund
TueThur Lecture 4 Audio -- 19 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
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
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-Four 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)
96-Year-Old Secretary Quietly Amasses a Fortune Stocks can make you rich, Dear Students ... but it takes time

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 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 -- 26 Feb    Introduction to Stocks, Historical Returns, Pros and Cons, The Stock Markets
TueThur Lecture 2 Audio -- 28 Feb    Stock Transactions and Fees; Black Monday - October 19, 1987
TueThur Lecture 3 Audio -- 7 Mar    Finish Stock Transactions, Market Averages & Indexes, Stock Splits and Spinoffs
TueThur Lecture 4 Audio -- 12 Mar    Stock Characteristics including Dividends, Types of Stocks
TueThur Lecture 5 Audio -- 14 Mar    Investing Strategies   Technical Difficulties! Please use online presentation #7 above.

Chapter 6:
Common Stock Valuations


Chapter 6 Materials
Presentation
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 - Commentary - Answer Key
   Jimba Jomba Jumba Juice Discounted Cash Flow Spreadsheet
Valuation Worksheet 2 - Answer Key

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 56    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 56    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 56    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 56    Discounted Cash Flow Model, The Value Line

Face-to-Face Class Audio Lectures (BUS-123-01)
TueThur Lecture 1 Audio -- 14 Mar  Introduction to Valuation Techniques   Technical Difficulties! Please use online presentations #1 and #2 above.
TueThur Lecture 2 Audio -- 19 Mar  Dividend Discount Model, Discounted Cash Flow Model, The Value Line

Chapter 17:
Financial Statements &
Ratio Analysis


Chapter 17 Materials
Presentation
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

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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