Alphanomics: Informational Arbitrage in Equity Markets

This is an advanced elective course on the economics of active investing in public equity markets, with a focus on analyzing financial statement data. Specifically, the course material is designed to improve student skills in: (1) assessing the relative attractiveness of individual companies using financial statement analysis, (2) building stock screens to filter and rank firms based on real, up-to-date financial data for both long and short positions, and (3) monitoring and managing portfolio risk. There will be a number of individual cases and a final group project. 30% of the grade will be based on class participation, and 70% will be based on cases and a final project. There is no final exam. Because it is an advanced elective, students taking this class are expected to be well versed in the core economics, accounting, and finance skills.