Course Overview

The goal of this course is to prepare students to participate in the investment management industry, whether as fund managers, advisors, or investors themselves. The course provides a broad survey of investing, with a focus on four key managerial issues:

• Evaluating specific investment opportunities in an array of public and private markets
• Designing investment portfolios when average future returns are low and uncertain
• How to choose between active and passive investing
• How technology is transforming investment management

By considering these issues from the perspectives of different types of investors, including individuals, family offices, pensions, and endowments, students will develop a multi-faceted understanding of the industry. We will survey all of the major asset classes that investors rely upon to generate returns, learning how to combine public and private equity, fixed income, commodities, real estate, and hedge funds into the portfolio best suited to meet the investor needs. In addition, we will discuss issues related to starting and managing a fund and explore recent innovations in the industry, including the rise of ETFs, robo-advisors, and activist investors.

The course features case studies of today’s foremost investment firms, frequently with case protagonists as guest speakers. Last year’s speakers included: Adam Nash, CEO of Wealthfront, Seth Klarman, CEO of the Baupost Group, Bill McNabb, CEO of Vanguard, Tomilson Hill, CEO of Blackstone Alternative Asset Management, and many more.