This is based on videos that were used in a UCLA MBA course. However, I taught the same material to undergraduates and PhD students. It should be suitable for gifted high school seniors to seasoned executives.
These are companion videos to a free textbook available on my website, which cover the same material. The course is best digested as a combination of both.
Aulas do Curso
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ch01 1 what is finance
Basic Introduction
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ch02 1 perfect market scenario and notation
This explains the basic framework of (most) finance theory.
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ch02 2 fundamental formula of finance
Present value is based around the basic rate of return value: r = (P1-P0)/P0.
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ch02 3 interest rates quotes and compounding
There is interest on interest...and interest rates can be quoted in very different ways. there is some devil in the det…
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ch03 1 perpetuities basics
Perpetuities are eternal cash flows. They are often used as heuristic stand-ins for long-term value.
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ch03 2 gordon dividend growth model and icc
The Gordon Dividend Growth Model and the Implied Cost of Capital are both applications of the perpetuity formula.
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ch03 3 basics of loans
Loans are the basics of most finance. Here is how to calculate the payments --- and the prepayment amounts and tax impl…
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ch03 4 leases retirement and corporate bonds
This one is an advanced subject. It's about which lease is better --- say, a $299 monthly lease with $3,000 upfront ove…
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ch04 1 capital budgeting rules
Capital Budgeting is the process by which we decide which projects to take --- that is, how to allocate (budget) our cap…
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ch04 2 internal rate of return irr
What is the IRR (or YTM) of a project that costs $100 and returns $60 one year later, and another $60 another year later…
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ch04 3 not so smart capital budgeting rules
Unfortunately, some pretty stupid capital budgeting rules are in common use. You should know what's wrong with them ---…
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ch02 4 net present value and capital budgeting
Net Present Value is the key concept of what a project is worth today. It is what allows you to compare which of many p…
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ch05 1 inflation
This may or may not become important in your life. How do you deal with inflation rates in returns and present value?
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ch05 2 introduction to time varying interest rates
The Treasury yield curve often tells you that a longer-term interest rate is higher than a short-term interest rates. D…
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ch05 3 meaning of yield curve slopes
If the Treasury yield curve is downward sloping, does this mean that a recession is coming?
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ch05 4 spot and forward rates
This is an advanced topic. It is about how to lock in future interest rates today, given the term structure of interest…
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ch06 1 random variables risk and reward
The basics of how to work with uncertainty. Uncertainty is what makes finance so interesting.
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ch06 2 working with random variables
If returns are random variables, how do you work with portfolios that have many returns over many time periods?
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ch06 3 known unknowns and unknown unknowns
Finance is not about urns with known probabilities of balls.
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ch06 4-5 credit risk basics
What's your credit score? What's your bank's?
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ch06 6 credit risk applications
Bonds and creditors don't always pay off what they promise.
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ch06 7 debt and equity payoff tables
The building blocks of financing are debt and equity. You must understand them.
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ch07 1 asset classes financial facts of life b
So how did various assets classes perform in the past? Stocks and Bonds, for example?
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ch07 2 institutions financial facts of life
How are stocks and bonds traded? What goes on behind the curtain?
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ch08 1 diversification basics
It's in the bible, and it's here, too....
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ch08 2 measuring market diversifying power
What assets help you reduce the overall risk of your portfolio?
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ch09 1 managerial investing philosophy and benchmarking
When evaluating projects, my advice is to use good comparables where available.
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ch10 1 capm theory and inputs
The most common model in use today, by far, for determining projects' cost of capital is the CAPM.
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ch10 2 capm project applications and gotchas
It's easy to make mistakes applying the CAPM. Here are some common gotchas.
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ch10 3 capm evidence
Unfortunately, the CAPM has not performed too well. (Assuming betas are equal would not be far from the truth in most c…
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ch11 1 market imperfections and concepts
Make America Realistic Again (Joke!). Q: What happens if markets are not perfect? A: The value of an object depends on…
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ch11 2 a tour of market imperfections
some markets that are far off from perfection --- like real-estate.
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ch12 1 efficient capital markets ecm theory
Efficient Markets are a weaker concept than perfect markets. You can have efficient markets when they are not perfect. …
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ch12 2 ecm asset prices consequences
Ever heard of a random walk?
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ch12 3 ecm performance measurement
How well do you think your portfolio has performed? Or your mutual fund? How good are the pros?
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ch12 4 ecm corporate finance
If markets are efficient, then prices should respond immediately and fully to news. If they do, what can you learn from…
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ch14 1 financial statements and valuation
How do you get cash flows for an NPV analysis out of a financial statement?
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ch15 1 comparables and npv basics
Instead of doing a full-blown NPV analysis, can you use market-based comparables to do it for you?
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ch15 2 p e comparables applications
The price-earnings ratio is the most popular comparable and (partly) for good reasons. But it has huge problems, too. …
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ch15 3 p e comparables problems
If you use P/E, at least do it right. And know how well it works (or not).
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ch16 1 capital structure what to understand
There are tons of different types of securities that companies issue. How confusing.
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ch16 2 capital structure example
Let's look at one company's capital structure in more detail.
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ch17 0 capital structure perfect market
This is the basis of thinking about capital structure: it can matter only to the extent that capital markets are not per…
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ch18 2 wacc and apv with corporate income taxes
The WACC (weighted average cost of capital) and APV methods are how companies decide whether to take projects when they …
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ch18 1 capital structure concepts with corp tax
Alas, even companies have to pay corporate income taxes....
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ch18 3 capital structure with both personal and corporate income taxes
And not only firms are paying income taxes, so do their investors. We really have to take a broader view about who can …
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ch19 1 conceptual aspects
Why do firms internalize their capital structure decisions?
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ch19 2 financial distress dark side of debt
When creditors are not paid, both good and bad things happen. This has an influence on how firms should finance themsel…
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ch19 3 financial distress and information issues bright side
Well, here are a few of the good things that happen when firms can't pay their creditors.
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ch19 4 liquidity investment banking etc default cf344278
there are a few other aspects of capital structure that can matter --- such as worrying about whether lenders can easily…
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ch20 0 tour of payout earnings
Firms don't only raise capital, they also pay out capital. They can do so via dividends and share repurchases. What ar…
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