General Information
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Instructor Bio
Alexandre Corhay is an Assistant Professor in Finance at the Rotman School of Management. His research focuses on understanding how important macroeconomic forces such as inflation, monetary policy, or product market competition impact firms’ decisions and asset prices. Alex’s research has been published in leading finance journals, such as the Journal of Finance and the Review of Financial Studies. He has received multiple teaching awards both at Rotman and the University of British Columbia. His research has been presented at numerous academic conferences and various policy makers venues, such as the US Federal Reserve, the Bank of Canada, and the Bank of Belgium.
Target Audience
Students who are interested the theoretical framework and real-world practice of portfolio management. This course provides a solid background for those who plan to work in the investment management industry in any capacity, and for others who have a strong interest in investing.
Format
12 regular sessions, ending with group presentations.
Course Mission
This course expands on concepts introduced in RSM1231. It focuses on principles and techniques that underlie the construction and management of modern investment portfolios, emphasizing objectives, strategies, and risk-return tradeoffs that are appropriate for different types of investors. It explores key elements of the investment management process, including the development of investment policies, portfolio implementation, and performance measurement. We also explore the role of recent macroeconomic forces, such as inflation and various government policies and the recent rise in ESG (Environmental, Social & Governance) on portfolio management practice.
Course Scope
Through a combination of lectures, readings and case discussions, students explore key elements of the practical implementation of asset allocation, security selection, and style investing. Students gain real world market experience by applying their knowledge and judgment by managing a portfolio on the Rotman Portfolio Management System (RPM).
Evaluation and Grade Distribution
| Component | Due Dates | Weight |
|---|---|---|
| Assignments (2) | TBD | 15% |
| Class Participation | Ongoing | 10% |
| Investment Project | End of Term | 25% |
| Final Exam | Exam Period | 50% |
Required Resources
- Textbook: Investments by Bodie, Kane, Markus, Switzer, Boyko, Panasian, and Stapleton, McGraw-Hill Ryerson, 10th Canadian Edition 2022.
- Cases and readings to be downloaded from various sources.