Real Estate Investments (CFA Level I Suggested Reading)
- Characteristics of various types of real estate assets
- Calculation of the after-tax cash flow and the after-tax equity reversion from real estate
- Application of NPV and IRR for real estate investment analysis
- Limitation of the IRR approach
- The main value determinants, investment characteristics, principal risks, and the most likely investor type for real estate investments
Private Equity (CFA Level I Suggested Reading)
- Importance of private equity markets
- Structure of the organized private equity market
- Characteristics of a limited partnership, and discuss the role of limited partnerships in the private equity market
- Relationship between limited partners and general partners
Venture Capital (CFA Level I Suggested Reading)
- What is a venture capital fund and how it works
- General partners versus limited partners
- How venture capitalists add value
- Potential conflicts between entrepreneur, venture capitalist, and investors
Commodity Investments (CFA Level I Suggested Reading)
- Relationship among inflation (levels and changes) and commodities, stocks, and bonds
- Implications of event risk for commodities with those for financial assets
- Sources of return for an unleveraged commodity futures index
- Composition and characteristics of various commodity indexes
- Impact of the addition of commodity futures to a traditional stock and bond portfolio
Distressed Debt Investing
- The objectives of distressed debt investors
- The bankruptcy process
- Process for investing in distressed buyouts
- Pre-packaged bankruptcies and using distressed debt for a takeover
- Constructing a distressed debt arbitrage
- Return distribution and risks of distressed debt investing
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