Investment Analysis. 3, 5, 10, 12, 19, 25, 26 Sep Oct Including a 15 minute coffee break.

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Investment Analysis M1325 Joe Portelli CPE

5, 10, 12, 19, 25, 26 Sep 2013 1 Oct 2013

15 Including a 15 minute coffee break Tower

1 Investment Analysis M1325 Joe Portelli CPE hours 17 Core 7 Professional Development 3, 5, 10, 12, 19, 25, 26 Sep Oct 2013 Registration Time Including a 15 minute coffee break Tower Training Centre Swatar The Malta Institute of Accountants CPE 2013

2 ncreasingly more investment fund management companies are operating in Malta, taking advantage of I the many attractive business and regulatory opportunities available to them. Investment professionals and accountants with knowledge of the tenants of investment management are becoming more in demand. The financial markets have become increasingly volatile, and having the skills necessary to understand and manage a portfolio of financial assets is very beneficial both from a professional and personal finance perspective. Objectives The course s objective is to offer participants insight into how to invest wisely and profitably in the financial markets. Participants will learn to avoid making the many mistakes investors make and how to emulate the practices of professional Wall Street money managers. Portfolio, risk, and money management principles will be covered in depth, as will, many aspects of equity, bond, commodity and real estate investing. Value, growth, index and income investing will be discussed thoroughly, as will buy and hold and tactical asset allocations strategies. Topics on Agenda Introduction Investing Basics Pick and researching the right fund Index funds Open ended funds Closed end funds UCITS Hedge funds ETFs/ETNs Fund fees Stocks Bonds Common Investing Mistakes 9 Common Investing Mistakes and How to Overcome them Portfolio Management and Diversification Beta Portfolio diversification concepts Correlation Case: A look at an institutional portfolio Using different type of orders Risk Management Standard deviation and volatility Money management Margining and leverage Risk and return Calculating risky asset allocations Fixed income risk issues Asset Management and Allocation Significance of asset allocation Commodities Real estate Common and preferred equity Fixed Income Alternative Investments Real estate Investment trusts (REITS) Master limited partnerships (MLPs) Analysis of the different ETF categories: Indices, sectors, inverse, etc Understanding industry sectors, Equity indices and market capitalization: Large, mid, small cap stocks The balanced fund approach Fixed Income Investing Fixed Income Investing Types of Yield: Coupon, Current, YTM, Yield to worst) Chasing yield Credit spreads

3 Investment grade verses high yield Sovereign debt TIPS Rating Agencies Introduction to fixed income analysis Default and recovery rates in bonds markets Bond Investment Strategies: Ladders Barbells Bullets Income Investing Concepts of dividend investing Dividend growth investing High yield dividend investing Dividends Free cash flow analysis The dividend aristocrats The Psychology of Investing Discipline and emotional control Cognitive and heuristic Biases Prospect theory Investing and the efficient market hypothesis Understand and know how to manage your emotions Investment Philosophy Statement Designing and adhering to a philosophy statement Speculation verse investment: Defining the differing roles of an investor and trader When to exit a trade Defining the type of investor you are Market Timing Analysis of 11 major recession signals The benefits of long term hold verses market timing Shorting stock Moving Average Momentum Traits of the World s Greatest Investors 7 Traits of the Wolds Greatest Investors Technical Analysis Technical analysis strengths and weakness An introduction to technical analysis Chart analysis Trend following Mean reversion Oscillators Continuation and reversal patterns Global Macro Economic Analysis An analysis into what drives bond and stock prices An introduction an economic fundamental analysis Business cycle Interest rates Inflation Earnings Investing Approaches The Scopes and limitations of security analysis: The concept of intrinsic value Value investing Growth investing, CANSLIM Dogs of the Dow Analysis of Warren Buffet techniques GARP The Magic formula Introduction to equity valuation matrices: Price/earnings, book, sales, and cash flow, multiple expansions, etc. How to screen and identifying winning stocks Internet resources: Using Morningstar, EDGAR, Yahoo Finance

4 Who will Benefit Banking staff and accountants who want to learn how to manage their clients portfolios more wisely and profitably and anyone who may want to enter the investment analysis field. Trainer s Profile Joseph Portelli has been employed in the financial markets for over 27 years. He has been engaged in various capacities with numerous Wall Street firms including the Bank of America, Nomura Securities, Goldman Sachs, Millburn Ridgefield and Liongate Capital Management. He was employed as a foreign exchange dealer, portfolio manager, and futures and options trader for much of his career. He had been licensed in various capacities with the National Association of Security Dealers and the National Futures Association in the US. He is also licensed with the Malta Financial Service Authority and the Malta Stock Exchange. He is currently employed as Managing Director and Chief Investment Officer of FMG Funds, an emerging marker specialist. He sits on the board of the Malta Stock Exchange and other financial intuitions, and also writes regular investment related articles on the Times of Malta. He has taught courses at the Central Bank of Malta, University of Malta Consulting, and is currently a visiting lecturer at the University of Malta, Banking and Finance Department. He graduated with a BA from Baruch College, City University of New York. Participation Fee MIA Members: Retired MIA Members: Non-MIA Members: Students: The fee covers: 24 hours of Structured CPE, coffee and the presentation in hard copy format. After the event participants can download a soft copy of the presentation from the Institute s website by: Logging into the system using the username and password Proceed to the My Purchases tab and click on the event title Downloading the presentation from the Secure Files Section at the bottom of the page Certificate of Attendance A certificates of attendance will be issued at the end of the course. This is for your own CPE records. Booking & Payment To ensure that your event materials and catering requirements are able to be provided at the event, please register by one working day prior to the event. Individual bookings: Place your booking and pay online through the MIA website. Group bookings & Retired Members: Fill in the registration form and send it by post along with payment. The booking will be processed and confirmed once payment is received. If you believe that the cheque will not reach the Institute by the closing date, then you are kindly requested to send the application form by together with a scanned copy of the cheque and present the respective cheque during the event. Parking Participants may use the parking facilities available at Level -5.

5 Terms & Conditions This is a multi-session event and participants are required to attend all the sessions. Cancellations for all the sessions taking place within 48 hours prior the first session will incur a cancellation fee of 50% unless a name of a replacement delegate is provided. Due to the nature of this program, no refund/credit will be given after the program commences unless the cancellation is related to health reasons. In this case the Institute will be able to issue a credit note for the full amount given that the participant notifies the Institute by 9.00 of the course date. No refunds in case of no-shows. Payment in full will still be due. For more information Ms. Sarah Bonello & Ms. Kirsten Micallef The Malta Institute of Accountants, Suite 4, Level 1, Tower Business Centre, Tower Street, Swatar Tel: , info@miamalta.org, Website: CPE Requirements Annual Requirements: Minimum of 20 hours Structured, 5 hours Unstructured 3-year Rolling Period: Minimum 75 hours Structured of which 30 must be Core, 45 hours Unstructured

Introduction to Hedge Funds and their Structures Hedge Fund Compliance and Management Hedge Fund Trading Tactics and Performance Drivers

Introduction to Hedge Funds and their Structures Hedge Fund Compliance and Management Hedge Fund Trading Tactics and Performance Drivers ncreasingly more hedge funds are setting up in Malta taking advantage of the many attractive business and I regulatory opportunities available to them. Investment professionals and accountants with knowledge