BUS-123 - Introduction to Investments - Spring 2022
Superceded by Spring 2023 Website
The Spring 2023 website is now live: https://wonderprofessor.com/123s23/123.html
Classes with be face-to-face and live-streamed via Zoom.
Tuesday and Thursday Mornings from 8:35 am to 10 am, Pacific Time.
Stay tuned!

Southwestern Community College
Instructor: Frank Paiano - Email: fpaiano@swccd.edu

Group Based on BUS-123, Introduction to Investments
Thank you, Abe!

Southwestern Investment Club
Thursdays at noon starting February 2nd, 2023
Zoom Meeting Room for Southwestern Investment Club

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Chapter Presentations, Handouts, and Assignments

Part 1: Introduction including Mutual Funds
Part 1:	Syllabus: BUS-123-01 - Audio Commentary of Class Syllabus - Long Format  Long format also in Canvas Your Humble Professor Introduces Himself Your Humble Professor Introduces Himself with just audio A Guided Tour of the class website - Audio  Uh, it's what yer lookin' at right now. Zoom Room Virtual Office
Chapter 1: Introduction, Overview, and Risk versus Return	Chapter 1 Materials - Introduction, Overview, and Risk versus Return Chapter 1 in textbook on LibreTexts.org Presentation file  Every chapter has a Google Docs slide presentation that can be read with Google Docs, OpenOffice, LibreOffice, or PowerPointless Study Guide - Video - 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 Forums Assignment Everyone post! We need your input! Don't worry about what you will say! Just write something! - Commentary   Add your picture to the discussion boards!  We want to see your smiling face! Work-Based Learning Work-Based Learning Extra Credit Bonus Assignment  Two points for every Investment Club meeting you attend! Better than a poke in the eye, eh? 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   Create Your Own Portfolio: Video - Audio  (Check back often to see how we are doing.)   Snapshot (11 Feb 2022)  Not bad! We are off to a pretty good start. But it has been very volatile!   Snapshot (18 Feb 2022)  Volatility strikes again! We are down 2%. Oh, well. Could be much worse. Some tech companies are down 50%!   Snapshot (25 Feb 2022)  Not too bad given that Agent Orange Trump's Hero, Vlad "The Impaler" Putin, just invaded a sovereign innocent country!   Snapshot (4 Mar 2022)  We are down over 10%. That is called a "correction." Thanks, Mr. Putin.   Snapshot (11 Mar 2022)  "We got that sinking feeling. Whoa, that sinking feeling!" We are almost in Bear Territory!   Snapshot (18 Mar 2022)  Whoa! We bounced back almost 15%! The volatility is real!   Snapshot (25 Mar 2022)  During the week, we actually went back to $100,000. We are down just 1.5%. Pretty darned good turnaround!   Snapshot (1 Apr 2022)  Hurray! We made it back to $100,000. Not bad considering World War III might just have started.   Snapshot (8 Apr 2022)  Oh, Pooh! Falling again. Why is Roblox suffering so much? C'mon, those of you with children. Tell us about Roblox!   Snapshot (15 Apr 2022)  Well, it could be worse. We are down 8%.   Snapshot (22 Apr 2022)  Pooh, what an ugly week. We are "testing our lows" as the Technicians say.   Snapshot (29 Apr 2022)  Aye! Another ugly weak! However, we are still above "bear market" territory. Could be worse!   Snapshot (6 May 2022)  It's official. We are in bear market territory. Down over 20%. Yucch!   Snapshot (13 May 2022)  Yikes! Down almost 30%! Now even Berkshire Hathaway is negative. Sheesh!   Snapshot (20 May 2022)  What a lousy semester. We ended up down almost 26%. Pooh. Bibliography - Books to Read (Eventually) - Commentary Future Value Worksheet - Commentary - Answer Key Future Value Tables Visualizing the World Economy  Source: VisualCapitalist.com - Updated annually Scams   They want to take your money! 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!  When you see advertisements like these, please send them my way. Thanks! Investopedia article on recent stock scams Advice from a Scam Expert on How to Spot a Scam The same kind of illegal behaviors go on in the world of weight loss supplements  Some weight loss supplements 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. Fidelity Money Market Fund  Annual Report -- April 30, 2021 Vanguard Municipal Money Market Fund  Municipal money market funds are tax-exempt at the Federal level U.S. Government 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, 2020 Short-term Securities Examples: Video - Audio   2020 Example: Spring 2020   2019 Example: Spring 2019   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/banking  Popular Internet site for researching short-term investments Do you want to be an Investor or a Speculator/Trader?      Psst! If you want to be an Investor, you have come to the right place. If you want to be a Speculator/Trader, sorry, we can't help you.    Liar's Poker Story - Slide 47  Are you a Speculator/Trader or are you an Investor?    Investopedia on the Difference between Investing and Speculating/Trading    The Difference between Investing and Speculating/Trading according to Forbes    Fidelity International weighs in on the discussion    Jack Bogle Interview with Forbes  Aha! I found it! In this interview, Jack Bogle nails the difference between investing and speculating. Scroll down to [06:09] Emotion Is The Enemy    Speculative Booms of the Past  The History of Capitalism is the History of Booms and Busts, Manias and Crashes Online Audio Lectures Chapter 1 - Lecture 1 - Slides 1 to 14    Introduction: What is an Investment? Chapter 1 - Lecture 2 - Slides 15 to 34    An Overview of the Investment Universe Chapter 1 - Lecture 3 - Slides 35 to 53    Risk versus Return Chapter 1 - Lecture 4 - Slides 54 to 72    Short-term Investments, A Place to Park Your Money Online Audio/Video Lectures Chapter 1 - Lecture 1 - Slides 1 to 14    Introduction: What is an Investment? Chapter 1 - Lecture 2 - Slides 15 to 34    An Overview of the Investment Universe Chapter 1 - Lecture 3 - Slides 35 to 53    Risk versus Return Chapter 1 - Lecture 4 - Slides 54 to 72    Short-term Investments, A Place to Park Your Money Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 1 - Lecture 1 - Slides 1 to 14    Introduction: What is an Investment? Chapter 1 - Lecture 2 - Slides 15 to 34    An Overview of the Investment Universe Chapter 1 - Lecture 3 - Slides 35 to 53    Risk versus Return Chapter 1 - Lecture 4 - Slides 54 to 72    Short-term Investments, A Place to Park Your Money Zoom Recorded Sessions (BUS-123-01) TueThur Lecture 1 -- 1 Feb   Introduction: What is an Investment? TueThur Lecture 2 -- 3 Feb   An Overview of the Investment Universe and the Relationshiop of Risk and Return TueThur Lecture 3 -- 8 Feb   Short-term Investments, Chapter 1 Assignments, Class Portfolio
Chapter 2: Mutual Funds: Investments for the Masses	Chapter 2 Materials - Mutual Fund: Investments for the Masses Chapter 2 in textbook on LibreTexts.org 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 The Growth Fund of America Legg Mason Value Trust   Now called Clearbridge Value Trust Vanguard 500 Index Fund   The Admiral shares have replaced the orginial 500 Index Fund Fidelity 500 Index Fund Mutual Fund Types Scramble Sheet (Online lecture 3) - Commentary A Sample Mutual Fund  (Online lecture 5 - Just one of over 12,000!) ICA Prospectus: Full - Summary - Webpage - Commentary ICA: 88 Years of Investing -  Commentary: Video - Audio Top 75 Holdings of ICA -  Commentary The Benefit of Time -  Commentary Worst Day / Best Day -  Commentary Hypothetical Illustrations  (Online Lecture 5) $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 - 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 - 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 and all the other funds that they offer through their web site    Over 3,400 no transaction fee funds. Over 9,700 funds total! Woman CEO! Dodge and Cox Funds Performance T. Rowe Price Funds Franklin Templeton Funds    Woman CEO! Annual Reports and Prospectuses  (Online lecture 5 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 CityWire Alpha Female Report  The Women are gaining but still far behind the Men 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!   The decline and fall of a star stock picker  To read this one, you have to create a free account with City Wire Selector   Morningstar's take on the Woodford Funds  Morningstar also requires you to create a free account to read the article   Woodford Funds Debacle   The Financial Times now has a "pay wall" for this article. Sorry. You can get it at a library. Recent Mutual Fund Scandal   The investment manager was lying about the value of the investments. How did this happen?! Online Lectures Chapter 2 - Lecture 1 - Slides 1 to 20     Introduction to Mutual Funds Chapter 2 - Lecture 2 - Slides 21 to 40    Fees, Expenses, and Class Shares, Oh My! Chapter 2 - Lecture 3 - Slides 41 to 56    Types of Mutual Funds (Scramble Sheet) Chapter 2 - Lecture 4 - Slides 57 to 61    The Great Debate: Passive Versus Active Management Chapter 2 - Lecture 5 - Slides 62 to 79    Fund Families and a Sample Mutual Fund Online Audio/Video Lectures Chapter 2 - Lecture 1 - Slides 1 to 20     Introduction to Mutual Funds Chapter 2 - Lecture 2 - Slides 21 to 40    Fees, Expenses, and Class Shares, Oh My! Chapter 2 - Lecture 3 - Slides 41 to 56    Types of Mutual Funds (Scramble Sheet) Chapter 2 - Lecture 4 - Slides 57 to 61    The Great Debate: Passive Versus Active Management Chapter 2 - Lecture 5 - Slides 62 to 79    Fund Families and a Sample Mutual Fund Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 2 - Lecture 1 - Slides 1 to 20     Introduction to Mutual Funds Chapter 2 - Lecture 2 - Slides 21 to 40    Fees, Expenses, and Class Shares, Oh My! Chapter 2 - Lecture 3 - Slides 41 to 56    Types of Mutual Funds (Scramble Sheet) Chapter 2 - Lecture 4 - Slides 57 to 61    The Great Debate: Passive Versus Active Management Chapter 2 - Lecture 5 - Slides 62 to 79    Fund Families and a Sample Mutual Fund Zoom Recorded Sessions (BUS-123-01) TueThur Lecture 1 -- 10 Feb   Start Mutual Funds, Introduction to Mutual Funds, Start Mutual Fund Fees TueThur Lecture 2 -- 15 Feb    Finish Mutual Fund Fees, Start Types of Mutual Funds TueThur Lecture 3 -- 17 Feb    Finish Types of Mutual Funds; Active Versus Passive Management; Start Mutual Fund Families TueThur Lecture 4 -- 22 Feb    Finish Mutual Fund Families; A Sample Mutual Fund; Hypothetical Illustrations; Finish Mutual Funds TueThur Lecture 5 -- 24 Feb    Chapter 2 Assignments; Review for Exam #1, Started discussing stocks
Part 2: Stocks, also known as Equities
Chapter 3 Introduction to Stocks	Chapter 3 Materials - Introduction to Stocks Chapter 3 in textbook on LibreTexts.org Presentation file Study Guide Assignment Stock Markets Assignment - Commentary Earnings Call Assignment - Commentary The difference between limit, stop, and stop-limit orders  Limit, schlimit! If you want the buy or sell the stock, just use a market order! Market Simulation Handout - Commentary    Presentation: Chaos in the Classroom! (Spring 2020 before the lockdown): Video - Video (CC) - Audio Internet Finance Web Sites   (Assignments, Lecture #3) Presentation: Video - Audio The Value Line  Awesome resource that used to be pay only. Check it out!    The Value Line now gives you some information on stocks and all info on the 30 stocks in the Dow Jones Industrial Average. 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! Bloomberg Finance Marketwatch  Wall Street Journal's free web site (Not so free anymore...) Google Finance   Google Finance is great for checking on the international markets CNBC Investopedia  Pretty good website (even though it is owned by the same folks who own Tinder) The New York Times Markets Overview ESG - Environmental, Social, and Governance ESG will eat itself  Critical look at the difficulties in defining what is good and what is bad FINRA - Financial Industry Regulatory Authority FINRA  Investigate your broker and brokerage firm at FINRA's BrokerCheck FINRA Broker Check  Just type "PAIANO" for the name and hit [Enter] 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! FINRA SIE Exam Practice Exam  Take it over and over and over again! Wait until the end of the semester. The FINRA Investor Knowledge Quiz  Wait until the end of the semester for this exam, too. The Spread - How market makers (a.k.a. dealers) make money Casas de Cambio - San Ysidro and Tijuana (Lecture 2) - Video - Audio - YouTube   Investopedia explains the bid-ask spread Robinhood is not free!   How does a brokerage firm that changes no commission make money? From the spread! The SEC is not happy with Robinhood   But doesn't everyone know that they are still being charged when they use Robinhood? (I guess not...) 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. Breaking News: SEC Considers Banning Order Flow!   31-August-2021: Whoa! Wouldn't that upset the apple cart?! Even in hindsight, it is difficult to choose stocks Eighty-Seven 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 2 and 4) - Commentary - Answer Key Stocks Worksheet 2 - (Lectures 2, 5, and 6) - Commentary - Answer Key Stocks Worksheet 3 - (Lecture 6) - 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 was one of the few legitimate companies on the OTC. They warned the investment community that they were being used by the penny stock scammers. 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.) PBS Frontline's take on Madoff's fraud 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 Five Weeks of Hell - Fall 2008  It's gonna' happen ag'n, Folks. We just don't know when. Be prepared emotionally. What Past Market Declines Can Teach Us Don't Lose Perspective (Lecture 5) - Commentary BGFN, The Benjamin Graham Financial Network! - Commentary How to Handle a Market Decline  Don't panic. Keep a long-term perspective. Buy more! Three Ways to Prepare for Down Markets Bibliography - Read! It will give you an unfair advantage over everyone else! 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   FranklinTempleton, Capital Group, and other large financial firms and pension funds backed IEX   Citadel tries to stop IEX!   Citadel is the company that pays Robinhood for the order flow. They don't want any competition!   One False Move   A High Frequency Trading firm loses $440 million in 45 minutes Warren Buffett and Berkshire Hathaway The History of Berkshire Hathaway Class B Shares Online Audio Lectures Chapter 3 - Lecture 1 - Slides 1 to 12      Introduction to Stocks - Historical Returns - Advantages and Disadvantages Chapter 3 - Lecture 2 - Slides 13 to 35    The Stock Market Chapter 3 - Lecture 3 - Slides 36 to 46    Stock Transactions, Transaction Costs, and Stock Quotes Chapter 3 - Lecture 4 - Slides 47 to 59    Market Averages and Indexes; Volatility Reexamined Chapter 3 - Lecture 5 - Slides 60 to 73    Stock Characteristics and Measurements Chapter 3 - Lecture 6 - Slides 74 to 84    Types of Stocks, Growth versus Value, and Market Capitalization Chapter 3 - Lecture 7 - Slides 85 to 92    Stock Investment Strategies Online Audio/Video Lectures Chapter 3 - Lecture 1 - Slides 1 to 12      Introduction to Stocks - Historical Returns - Advantages and Disadvantages Chapter 3 - Lecture 2 - Slides 13 to 35    The Stock Market Chapter 3 - Lecture 3 - Slides 36 to 46    Stock Transactions, Transaction Costs, and Stock Quotes Chapter 3 - Lecture 4 - Slides 47 to 59    Market Averages and Indexes; Volatility Reexamined Chapter 3 - Lecture 5 - Slides 60 to 73    Stock Characteristics and Measurements Chapter 3 - Lecture 6 - Slides 74 to 84    Types of Stocks, Growth versus Value, and Market Capitalization Chapter 3 - Lecture 7 - Slides 85 to 92    Stock Investment Strategies Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 3 - Lecture 1 - Slides 1 to 12      Introduction to Stocks - Historical Returns - Advantages and Disadvantages Chapter 3 - Lecture 2 - Slides 13 to 35    The Stock Market Chapter 3 - Lecture 3 - Slides 36 to 46    Stock Transactions, Transaction Costs, and Stock Quotes Chapter 3 - Lecture 4 - Slides 47 to 59    Market Averages and Indexes; Volatility Reexamined Chapter 3 - Lecture 5 - Slides 60 to 73    Stock Characteristics and Measurements Chapter 3 - Lecture 6 - Slides 74 to 84    Types of Stocks, Growth versus Value, and Market Capitalization Chapter 3 - Lecture 7 - Slides 85 to 92    Stock Investment Strategies Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 1 Mar   Introduction to Stocks, Historical Returns, Pros and Cons, The Stock Markets (a.k.a. The Capital Markets) TueThur Lecture 2 using Zoom -- 3 Mar   Transactions; Market Averages and Indexes; Worksheet 1 TueThur Lecture 3 using Zoom -- 8 Mar   Dividends and Other Stock Characteristics; Worksheet 2 TueThur Lecture 4 using Zoom -- 10 Mar   Types of Stocks and Growth versus Value; Market Capitalization; Stock Investment Strategies; Worksheets #2 & #3
Chapter 4: Fundamental Analysis: Valuation Models	Chapter 4 Materials - Fundamental Analysis: Valuation Models Chapter 4 in textbook on LibreTexts.org Presentation file Study Guide Chapter 4 Valuation Models Assignment - Commentary Chapter 4 Value Line Assignment - Commentary     Newport Beach Public Library  The Value Line is available online through this library     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. May be out of date. Call First.     Their website only shows the Central Library and Rancho Bernardo but we know it is available at other branches. Pretzels Unlimited Discounted Cash Flow Spreadsheet   (Lecture 3) Valuation Worksheet 1 - Commentary - Answer Key    Jimba Jomba Jumba Juice Discounted Cash Flow Spreadsheet Valuation Worksheet 2 - Commentary - Answer Key    Worksheet #2 Zoom starts at 58 minutes into video - 22 Mar The Value Line: Johnson 'n' Johnson Spreadsheet - Video - Audio Chapter 4 Formulas Present Value Table  (Needed for Discounted Cash Flow Model calculations) Online Audio Lectures Chapter 4 - Lecture 1 - Slides 1 to 5    Introduction to Valuation Models Chapter 4 - Lecture 2 - Slides 6 to 20    Dividend Discount Models Chapter 4 - Lecture 3 - Slides 21 to 36    Discounted Cash Flow Model Chapter 4 - Lecture 4 - Slides 37 to 49    The Value Line Online Audio/Video Lectures (Closed captioning available) Chapter 4 - Lecture 1 - Slides 1 to 5    Introduction to Valuation Models Chapter 4 - Lecture 2 - Slides 6 to 20    Dividend Discount Models Chapter 4 - Lecture 3 - Slides 21 to 36    Discounted Cash Flow Model Chapter 4 - Lecture 4 - Slides 37 to 49    The Value Line Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 4 - Lecture 1 - Slides 1 to 5    Introduction to Valuation Models Chapter 4 - Lecture 2 - Slides 6 to 20    Dividend Discount Models Chapter 4 - Lecture 3 - Slides 21 to 36    Discounted Cash Flow Model Chapter 4 - Lecture 4 - Slides 37 to 49    The Value Line Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 15 Mar    Introduction to Valuation Techniques, Dividend Discount Models TueThur Lecture 2 using Zoom -- 17 Mar    Discounted Cash Flow Model, Begin The Value Line TueThur Lecture 3 using Zoom -- 22 Mar    Finish The Value Line; Used Discounted Cash Flow Model on Merck; Worksheet #2 TueThur Lecture 4 using Zoom -- 24 Mar    Review for Exam #2, Worksheet #1, Used the Discounted Cash Flow on AT&T and Verizon and a few other companies
Chapter 5: Fundmental Analysis: Financial Statements and Ratio Analysis	Chapter 5 Materials - Fundamental Analysis: Financial Statements and Ratio Analysis Chapter 5 in textbook on LibreTexts.org Presentation file Study Guide Financial Ratios Assignment - Commentary Financial Ratios Formulas Financial Statements Sprouts Balance Sheet Sprouts Income Statement Sprouts Cash Flow Statement  a.k.a. Statement of Cash Flows Online Audio Lectures Chapter 5 - Lecture 1 - Slides 1 to 20   Financial Statements & Ratio Analysis Chapter 5 - Lecture 2 - Slides 21 to 41   More Ratio Analysis Online Audio/Video Lectures Chapter 5 - Lecture 1 - Slides 1 to 20   Financial Statements & Ratio Analysis Chapter 5 - Lecture 2 - Slides 21 to 41   More Ratio Analysis Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 5 - Lecture 1 - Slides 1 to 20   Financial Statements & Ratio Analysis Chapter 5 - Lecture 2 - Slides 21 to 41   More Ratio Analysis Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual TueThur Lecture 1 using Zoom -- 5 Apr    Begin Financial Statements and Ratio Analysis TueThur Lecture 1 using Zoom -- 7 Apr    Dale Davis showcased the Stock Selection Guide; More Ratio Analysis; Start Efficient Market Theory (up to slide 6)
Chapter 6: Market Efficiency Theory: "Who Can Beat the Market?"	Chapter 6 Materials - Market Efficiency Theory: "Who Can Beat the Market?" Chapter 6 in textbook on LibreTexts.org Presentation file Study Guide Assignment - Commentary New York Times says that women are better investors than men! - And CNN agrees. Ten Cognitive Biases that can lead to investment mistakes  Hamish Douglass of the Magellan Group Wise advice: Do the opposite of what everyone else is doing!  The 2000's were a rough decade for investors. A Brief History of Financial Bubbles  As told by TD Ameritrade (now part of Schwab) Someone who was involved in the dot-com bubble describes the current kleptocurrency bubble  Henry Blodget was one of the most influential Internet analysts of the late 1990's. Politics and the Markets  "Poli-" means "many" and "-tics" are blood sucking insects. Republicans don't like it when you tell the truth about energy  Blackrock counters that we have to concern ourselves with our clients, not your MAGA politics. Online Audio Lectures Chapter 6 - Lecture 1 - Slides 1 to 13   Market Efficiency Theory: "Who Can Beat the Market?" Chapter 6 - Lecture 2 - Slides 14 to 33   Investor Psychology, Active vs Passive Revisited, All Stars, and Famous Myths and Stupid Sayings Online Audio/Video Lectures Chapter 6 - Lecture 1 - Slides 1 to 13   Market Efficiency Theory: "Who Can Beat the Market?" Chapter 6 - Lecture 2 - Slides 14 to 33   Investor Psychology, Active vs Passive Revisited, All Stars, and Famous Myths and Stupid Sayings Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 6 - Lecture 1 - Slides 1 to 13   Market Efficiency Theory: "Who Can Beat the Market?" Chapter 6 - Lecture 2 - Slides 14 to 33   Investor Psychology, Active vs Passive Revisited, All Stars, and Famous Myths and Stupid Sayings Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 7 Apr    Dale Davis showcased the Stock Selection Guide; More Ratio Analysis; Start Efficient Market Theory (up to slide 6) TueThur Lecture 1 using Zoom -- 12 Apr    Finish Market Efficiency Theory: "Who Can Beat the Market?" - Start Technical Analysis about 1 hour 6 minutes
Chapter 7: Technical Analysis: Reading Squiggles on a Computer Screen	Chapter 7 Materials - Technical Analysis: Reading Squiggles on a Computer Screen Chapter 7 in textbook on LibreTexts.org Presentation file Study Guide Optional Bonus Assignment - Commentary Technical Analysis Presentation: Video - 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! FinViz.com A former student tells me he uses this website to help with his technical analysis. The management assumes no responsibility. Please stay long-term oriented with high-quality investments $15,500 to $1,000,000 to $7,000    Oh, well. It was nice while it lasted. Don't Panic!    Yet another example of investors selling at the bottom. "The investor's chief problem, and even his worst enemy, is likely to be himself." -- Benjamin Graham Buy High, Sell Low? Sure, why not?! NOVA 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. We need more women in the industry!) Online Audio Lectures Chapter 7 - Lecture 1 - Slides 1 to 24    Technical Analysis: Reading Squiggles on a Screen Online Audio/Video Lectures Chapter 7 - Lecture 1 - Slides 1 to 24    Technical Analysis: Reading Squiggles on a Screen Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 7 - Lecture 1 - Slides 1 to 24    Technical Analysis: Reading Squiggles on a Screen Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 12 Apr    Finish Market Efficiency Theory: "Who Can Beat the Market?" - Start Technical Analysis about 1 hour 16 minutes TueThur Lecture 2 using Zoom -- 14 Apr    Finish Technical Analysis; Review Discounted Cash Flow Model for Exam #3
Part 3: Bonds, also known as Fixed Investments or Fixed Income Investments
Chapter 8: Introduction to Bonds	Chapter 8 Materials - Introduction to Bonds Chapter 8 in textbook on LibreTexts.org 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 - Audio Composite Rates Composite Bonds Rates from Fidelity   Can be used for question #4 of assignment. Wall Street Journal Bond Rates   Also shows yield curve which we discuss in chapter 9. Federal Reserve Bank of St. Louis Bond Research Web Site    Great resource for researching about bonds in aggregate (but no individual bond quotes). 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 - Apr 21 - Oct 21 - Apr 22    Presentation: Video - 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 - Apr 21 - Oct 21 - Apr 22    Presentation: Video - Audio More Muni Bonds Quote Examples: Puerto Rico - City of Carlsbad - Medical Establishments - 2015 March California Municipal Bond Quotes  Lake Elsinore and Washington Township, July 2016 Advanta: May 09 - Video - 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 8 - Lecture 1 - Slides 1 to 24   Introduction to Bonds, Bonds & Interest Rates Chapter 8 - Lecture 2 - Slides 25 to 42   Types of Bonds, Bond Ratings Online Audio/Video Lectures Chapter 8 - Lecture 1 - Slides 1 to 24   Introduction to Bonds, Bonds & Interest Rates Chapter 8 - Lecture 2 - Slides 25 to 42   Types of Bonds, Bond Ratings Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 8 - Lecture 1 - Slides 1 to 24   Introduction to Bonds, Bonds & Interest Rates Chapter 8 - Lecture 2 - Slides 25 to 42   Types of Bonds, Bond Ratings Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 19 Apr    Introduction to Bonds, Bonds & Interest Rates, Bond Ratings and Quotes TueThur Lecture 2 using Zoom -- 21 Apr    Types of Bonds, Bond Quotes, Bond Ratings, Bond Trading; Start Bond Yields (chapter 9)
Chapter 9: Bond Prices and Yields	Chapter 9 Materials - Bond Prices and Yields Chapter 9 in textbook on LibreTexts.org Presentation file Study Guide Bond Valuation Assignment - Commentary Bond Valuation Worksheet #1 - Commentary - Answer Key Bond Valuation Worksheet #2 - Commentary - Answer Key Bond Valuation Worksheet #3 - Commentary - Answer Key Bond Valuation Formulas Present Value Tables Bond Calculator Spreadsheet - Video - Audio   (Lecture 2) The Bond Yield Curve and Composite Rates Bond Yield Curve from GuruFocus.com   Treasury bonds yield curve Bond Yield Curve from Wall Street Journal   Also uses Treasury bonds to show yield curve Composite Bonds Rates from Fidelity Online Audio Lectures Chapter 9 - Lecture 1 - Slides 1 to 19    Bond Yield Calculations Chapter 9 - Lecture 2 - Slides 20 to 41    The Yield Curve, Bond Valuation Online Audio/Video Lectures Chapter 9 - Lecture 1 - Slides 1 to 19    Bond Yield Calculations Chapter 9 - Lecture 2 - Slides 20 to 41    The Yield Curve, Bond Valuation Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 9 - Lecture 1 - Slides 1 to 19    Bond Yield Calculations Chapter 9 - Lecture 2 - Slides 20 to 41    The Yield Curve, Bond Valuation Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 21 Apr    Start Bond Yields (Starts at 1 hour and 7 minutes) TueThur Lecture 2 using Zoom -- 26 Apr    Bond Yield Calculations, Yield Spreads, Begin Bond Valuation, Worksheet #1 TueThur Lecture 3 using Zoom -- 28 Apr    Finish Chapter 9 on Bonds Yields and Valuation; Cover Chapter 10 on Hybrid Securities; Workthrough Worksheet #2 The next two class sessions had parts where we worked through the chapter 9 worksheet #3 - Please study for exam #4 TueThur Lecture 1 using Zoom -- 3 May    Portfolio Diversification and Asset Allocation, Chapter 9 Worksheet #3 Bond Calculations (Study worksheet #3 for Exam #4) TueThur Lecture 3 using Zoom -- 5 May    Chapter 9 Worksheet #3 - Study for Exam #4, Discussion of Stock Analysis Techniques
Chapter 10: Hybrid Securities Preferred Stocks and Convertible Securities	Chapter 10 Materials - Hybrid Securities: Preferred Stocks and Convertible Securities Chapter 10 in textbook on LibreTexts.org Presentation file Study Guide Convertible Securities Assignment - Commentary Convertible Securities Worksheet - Commentary - Answer Key The Three Questions on Exam #4 about Hybrid Securities Online Audio Lectures Chapter 10 - Lecture 1 - Slides 1 to 16    Preferred Stock & Convertible Securities Online Audio/Video Lectures Chapter 10 - Lecture 1 - Slides 1 to 16    Preferred Stock & Convertible Securities Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 10 - Lecture 1 - Slides 1 to 16    Preferred Stock & Convertible Securities Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 3 using Zoom -- 28 Apr    Finish Chapter 9 on Bonds Yields and Valuation; Cover Chapter 10 on Hybrid Securities; Workthrough Worksheet #2
Part 4: Portfolio
Chapter 11: Portfolio Diversification and Asset Allocation	Chapter 11 Materials - Portfolio Diversification and Asset Allocation Chapter 11 in textbook on LibreTexts.org Presentation file Study Guide Assignment - Commentary Bonds in Retirement  versus  Stocks in Retirement  versus  Stocks and Bonds in Retirement  versus  Balanced in Retirement   Presentation: Video - Audio The Argument for a Balanced Approach - As Fidelity Investments Sees It Why Diversification Matters - Video - Audio    Fidelity's take on diversification Typical "Glide Paths" for Target Retirement Date Mutual Funds Capital Group T. Rowe Price 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 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 sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 3 May    Portfolio Diversification and Asset Allocation, Chapter 9 Worksheet #3 Bond Calculations (Study worksheet #3 for Exam #4) TueThur Lecture 3 using Zoom -- 5 May    Chapter 9 Worksheet #3 - Study for Exam #4, Discussion of Stock Analysis Techniques
Part 5: Speculating, also known as Trading, better described as Gambling
Chapter 12: Options Contracts	Chapter 12 Materials - Options Contracts Chapter 12 in textbook on LibreTexts.org Presentation file Study Guide Bonus Assignment - Commentary Options Notes Sheet Options Worksheet - Commentary - Answer Key Options Chains (a.k.a. Options Quotes) Options Chains (a.k.a. Options Quotes) on Yahoo Finance and Marketwatch.com: Video - Audio   Johnson & Johnson Untold Riches Can Be Yours Gambling, uh, I mean, Investing in Options! Online Trading Academy, 7 Days, 42 Hours, Only $7,700!    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 $2,997! 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! Chuck and Wendy and Bubba want to learn ya' good! 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." 20-year-old trader takes own life after racking up $700,000 debt selling options How could Robinhood allow this young man to have this much leverage/exposure? He Built a $10 Billion Investment Firm. It Fell Apart in Days. Another example of the dangers of derivatives. He used instruments similar to options but even more radioactive. Bloomberg's take on Bill Hwang and Archegos Capital's spectacular failure The Mysterious Demise of a $1.7 Billion Mutual Fund Wait a minute! Mutual funds are not supposed to be using derivatives! Employee Stock Options Empoyee Exercises Options Before Company Goes Public - Potentially Loses $100,000    And he took out a loan to buy the shares! Don't do this at home, Folks. Online Audio Lectures Chapter 12 - Lecture 1 - Slides 1 to 16    Options Contracts; Calls and Puts Chapter 12 - Lecture 2 - Slides 17 to 30    Options Characteristics; The Break-even Point Chapter 12 - Lecture 3 - Slides 31 to 42    Options Strategies; Covered Calls and Naked Puts Chapter 12 - Lecture 4 - Slides 43 to 52    Employee Stock Options; Final Comments Online Audio/Video Lectures Chapter 12 - Lecture 1 - Slides 1 to 16    Options Contracts; Calls and Puts Chapter 12 - Lecture 2 - Slides 17 to 30    Options Characteristics; The Break-even Point Chapter 12 - Lecture 3 - Slides 31 to 42   Options Strategies; Covered Calls and Naked Puts Chapter 12 - Lecture 3 - Slides 43 to 52    Employee Stock Options; Final Comments Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 12 - Lecture 1 - Slides 1 to 16    Options Contracts; Calls and Puts Chapter 12 - Lecture 2 - Slides 17 to 30    Options Characteristics; The Break-even Point Chapter 12 - Lecture 2 - Slides 31 to 42    Options Strategies; Covered Calls and Naked Puts Chapter 12 - Lecture 3 - Slides 43 to 52    Employee Stock Options; Final Comments Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 5 May   Options Contracts Starts around 50 minutes into presentation
Chapter 13: Futures Contracts	Chapter 13 Materials - Futures Contracts Chapter 13 in textbook on LibreTexts.org Presentation file Study Guide   No assignment for chapter 13 Foreign currency trading is easy - an easy way to lose money   Los Angeles Times Online Audio Lectures Chapter 13 - Lecture 1 - Slides 1 to 14    Futures Contracts Online Audio/Video Lectures Chapter 13 - Lecture 1 - Slides 1 to 14    Futures Contracts Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 13 - Lecture 1 - Slides 1 to 14    Futures Contracts Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 10 May   Review Options Contracts; Futures Contracts, Buying on Margin and Selling Short, Precious Metals
Chapter 14: Buying on Margin and Selling Short	Chapter 14 Materials - Buying on Margin and Selling Short Chapter 14 in textbook on LibreTexts.org Presentation file Study Guide   No assignment for chapter 14 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. This guy makes me sick  He stole from his client who had been behind bars for decades. Don't Bet on the Market NOVA: 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 thorough stock research. Online Audio Lectures Chapter 14 - Lecture 1 - Slides 1 to 17    Buying on Margin (It is risky!) Chapter 14 - Lecture 2 - Slides 18 to 34    Selling Short (Don't do it! It is even more dangerous than buying on margining!) Online Audio/Video Lectures Chapter 14 - Lecture 1 - Slides 1 to 17    Buying on Margin (It is risky!) Chapter 14 - Lecture 2 - Slides 18 to 34    Selling Short (Don't do it! It is even more dangerous than buying on margin!) Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 14 - Lecture 1 - Slides 1 to 17    Buying on Margin (It is risky!) Chapter 14 - Lecture 2 - Slides 18 to 34    Selling Short (Don't do it! It is even more dangerous than margining!) Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 10 May   Review Options Contracts; Futures Contracts, Buying on Margin and Selling Short, Precious Metals
Chapter 15: Precious Metals, Art, and Collectibles	Chapter 15 Materials - Precious Metals, Art, and Collectibles Chapter 15 in textbook on LibreTexts.org Presentation   No assignment The only question on the final exam from this presentation will ask you if you should just stay away from gold, precious metals, collectibles, art, etc. The answer is, "Yes!" Why gold is a bad investment A Couple Stored IRA Gold in Their Home  They now owe the IRS $300,000 Online Audio Lectures Chapter 15 - Lecture 1 - Slides 1 to 7   Precious Metals, Art, and Collectibles Online Audio/Video Lectures Chapter 15 - Lecture 1 - Slides 1 to 7   Precious Metals, Art, and Collectibles Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 15 - Lecture 1 - Slides 1 to 7   Precious Metals, Art, and Collectibles Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 10 May   Review Options Contracts; Futures Contracts, Buying on Margin and Selling Short, Precious Metals
Chapter 16: Cryptocurrencies and NFTs	Chapter 16 Materials - Cryptocurrencies and NFTs Chapter 16 in textbook on LibreTexts.org Presentation   No assignment No questions on the final exam from this presentation. Google search of "cryptocurrency"   Only 246,000,000 hits ... Unregulated! Promises of Riches! This is exactly what we should expect. Just one of many examples of hanky-panky Crytocurrency scams   Only 8?! Squid Cryptocurrency Collapse as Founders Steal Millions What is it worth? What is the intrinsic value? Value investor discusses his reasons for not owning kleptocurrencies Online Audio Lectures Chapter 16 - Lecture 1 - Slides 1 to 11   Cryptocurrencies and NFTs Online Audio/Video Lectures Chapter 16 - Lecture 1 - Slides 1 to 11   Cryptocurrencies and NFTs Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 16 - Lecture 1 - Slides 1 to 11   Cryptocurrencies and NFTs Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 17 May   Cryptocurrencies and NFTs   Starts at beginning, continues with Real Estate and Real Estate Investment Trusts (REITs)
Part 7: Miscellaneous Topics in Investing Including Real Estate
Chapter 17: Real Estate and Real Estate Investments Trusts (REITs)	Chapter 17 Materials - Real Estate and Real Estate Investment Trusts (REITs) Chapter 17 in textbook on LibreTexts.org 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! Landlord's Nightmare (one of many) Shared Appreciation Solicitation - Commentary  This company will lend you money in exchange for sharing the appreciation of your home. Be Careful! Online Audio Lectures Chapter 17 - Lecture 1 - Slides 1 to 21   Real Estate and Real Estate Investment Trusts (REITs) Online Audio/Video Lectures Chapter 17 - Lecture 1 - Slides 1 to 21   Real Estate and Real Estate Investment Trusts (REITs) Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 17 - Lecture 1 - Slides 1 to 21   Real Estate and Real Estate Investment Trusts (REITs) Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 17 May   Real Estate and Real Estate Investment Trusts (REITs)   Starts at 17 minutes and 40 seconds
Chapter 18: Retirement Accounts, Regular Accounts, and Annuities	Chapter 18 Materials - Brokerages, Account Types, and Annuities Chapter 18 in textbook on LibreTexts.org Presentation file Study Guide   No assignment Recommended Exercise  Not an assignment! There is 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 Fisher Investments: Why I Hate Annuities   Here is a guy who has built an empire by trashing annuities Fixed Income Annuity Illustration - Video - Audio - TIAA.org Fixed Annuity Calculator   Compare this to the chapter 11 retirement scenarios. Ken Fisher is right. Annuities Suck! Online Audio Lectures Chapter 18 - Lecture 1 - Slides 1 to 25  Brokerages, Account Types, and Annuities Online Audio/Video Lectures Chapter 18 - Lecture 1 - Slides 1 to 25  Brokerages, Account Types, and Annuities Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 18 - Lecture 1 - Slides 1 to 25  Brokerages, Account Types, and Annuities Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 17 May   Brokerages, Account Types, and Annuities   Starts at 51 minutes and 20 seconds
Chapter 19: Starting a Business: The Ultimate Investment	Chapter 19 Materials - Starting a Business: The Ultimate Investment Chapter 19 in textbook on LibreTexts.org Presentation   No assignment No questions on the final exam from this presentation. Score San Diego (Service Corps of Retired Executives) Kiva Accessity (formertly Accion San Diego)  Careful! Don't go to accionsandiego.com. It's a phishing site now. South San Diego Small Business Development Center Online Audio Lectures Chapter 19 - Lecture 1 - Slides 1 to 5   Starting a Business: The Ultimate Investment Online Audio/Video Lectures Chapter 19 - Lecture 1 - Slides 1 to 5   Starting a Business: The Ultimate Investment Online Audio/Video Lectures on YouTube (Closed captioning available) Chapter 19 - Lecture 1 - Slides 1 to 5   Starting a Business: The Ultimate Investment Online sessions with Tuesday/Thursday Face-to-Face Class Audio/Visual (BUS-123-01) TueThur Lecture 1 using Zoom -- 19 May   The Ultimate Investment: Starting a Business   After Starting a Business, we worked through the Pre-final Worksheet

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Addendums:
Addendum B: Internal Rate of Return and Net Present Value	Addendum B Materials - Net Present Value and Internal Rate of Return Addendum B in textbook on LibreTexts.org Presentation   No assignment No questions on the final exam from this presentation. An example of what you will see if and when you ever take an upper division or graduate level finance & investments class. Accompanying Spreadsheet

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Text Book