Course Description
Disclaimer:
This course has been designed for educational purposes only. Any examples used are in no way meant to be investment advice or recommendations. Options are leveraged financial products that entail risk. Always consult your financial advisor before taking any investment action.
NOTE: Due to the immediate nature of the content, there are NO REFUNDS once the subscription is purchased.
Bundle Outline:
The applied series is a bridge to the practical world from the academic world. This course is presented from the perspective of a retail investor rather than an institutional investor as is common in most finance textbooks and within the CFA program. You will be presented with the academic foundations of concepts which are critical for developing your skill. You will then be given the practical application will which is critical to developing your experience.
As the entire course is being developed over a two-year period (Dec 2021 to Dec 2023), the following pricing will be available:
| Sept 15/2022 – Feb 28/2023 |
$320 for the full program |
| Mar 1/2023 – Oct 14/2023 |
$410 for the full program |
| Oct 15/2023 – Dec 31/2023 |
$560 for the full program |
| Jan 1/2024 onwards |
$650 for the full program |
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(no further fees as content is added – you get all 7 Modules)
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** Note:
Examples for some strategies may be increased over time to take advantage of specific market conditions.
For example, it is better to show volatility trades when actual volatility shows up.
Dr. Meldrum may not have the volatility he wants when he is doing the volatility strategies, so this allows him some flexibility to add to some strategies as market conditions warrant.
Applied Options Course
Module Outline:
This course will lead you through a significant number of option strategies designed for Income, Volatility, Direction. Each strategy introduced will be described in terms of payoff diagrams, risk exposures, and usage scenarios. Several examples will also be introduced for each option strategy using market relevant examples. You will learn how to incorporate the level and term structure of skew into your decisions, how to use options to salvage a losing position, and portfolio level risk management with options by monitoring your net dollar-delta-beta.
The course begins with an introduction to options modelled after John Hull’s textbook “Options, Futures, and Other Derivatives” and learning concepts found in the CFA program (L1/L2/L3).
Sector Studies
Module Outline:
- 6 S&P500 sectors (expanding to 11 over time)
- Consumer Discretionary
- Materials
- Real Estate
- Financials
- Consumer Staples
- Information Technology
Each sector study is designed to give you a good understanding of the performance drivers of the sector. Tradeable ETFs and bellwether components are presented at the sector, industry group, industry, and sub-industry level (where available with liquidity and available options). Depending on financial and economic conditions, we will identify a sector stance (buy, sell, neutral) along with an appropriate trade using ETFs, options on ETFs, pairs trades (long/short different industry ETFs, long an ETF versus short a component, and return distribution trades using options. As some sectors lead and some lag the overall market, volatility trade pairs will be introduced (long vol at the market level, short vol at the sector level, or vice versa). A good understanding of options is required so it is recommended that you begin with Module 1.
Applied Macro and Top-Down Analysis
Module Outline:
Macro investing is not about economics although it is informed in part by economic indicators. The search here is for big themes or trends that affect equity markets, commodities, and currencies. What does the relationship between disposable income growth and mortgage rates mean for the direction of copper prices? What does the direction of real yields tell us about our choice of large cap or small cap stocks?
Applied Bottom-up Analysis
Module Outline:
Following on from Module 3, after we identify our sector/industry-group/industry/sub-industry preference, we then identify bellwether stocks. We learn how to build a small peer group, describe each company’s business model, and identify key drivers of performance.
Technical Analysis
Module Outline:
This module will follow the CMT (Chartered Market Technician) curriculum for all three levels. Each reading will be presented inline with the relevant readings and as such can be used to prepare for the CMT exams. Where appropriate, the concepts in the readings will be applied to selected equities/ETFs. Readings will be added on a regular basis (at a rate of 1-3 per week) until all three levels are complete.
- Theory and History of Technical Analysis
- Charts, Trends, and Patterns
- Advanced Concepts in Charting and Trend Analysis
- Markets and Volatility
- Behavioral Finance and Other theories of market Dynamics
- Basic Statistics for the Technical Analyst
- Perspectives on Technical Trading Systems
