Capital markets – financial analysis of listed companies, corporate finance and practical models
Setting up an investment portfolio has always been a subject of great interest for the financial analysts. Integrating new concepts and other investment instruments used in the analysis of the listed companies is the first step for building an investment portfolio. A successful integration process creates quality services for the customers and a good management of the personal investment portfolio. The investment decision is based on processing the financial and non-financial information available, and the correct interpretation of the empirical and evaluation models used by the analyst.
The seminar aims to explain financial instruments traded in capital markets, using theoretical and practical concepts, to ultimately create an investment portfolio. The lecturers use dedicated financial models and, more importantly, have a practical perspective on processing the non-financial information. The participants will have access to behavioral finance elements with implications in capital markets, and will ultimately gain the ability to build a virtual portfolio. At the same time, the seminar presents several methods of financial analysis and performance-based attribution, as well as the correlation between performance and risk. A particular focus is set on the practical aspects, useful in the analysis of the shares traded on the capital market – with case studies and real life examples. In this sense, the professional practical experience and expertise of the lecturers in portfolio administration brings additional value to the seminar.
At the end of the seminar, participants will understand from a practical perspective:
- Basic concepts about capital markets and listed financial instruments
- The interpretation of the financial statements (balance sheet, P&L, cash-flow statement)
- The definition of several basic indicators in the industry
- The structure of general and specific costs in a company
- Financial models
- Evaluation methods and models
- The analysis of the non-financial information
- Portfolio creation
- Investment risk assessment
- Portfolio performance analysis
The seminar targets the following categories:
- Managers and specialists with expertise in the financial and non-financial departments, who want to expand their understanding on how capital markets work, capital allocation and expectations
- Staff working in Private Banking/Wealth Management
- Staff from Risk/Compliance, for a better knowledge of the portfolio structure, the instruments, risks and financial models
- Staff in regulatory bodies, willing to master key elements of the activities in the investment departments.
The seminar provides a solid theoretical knowledge and relevant case studies from everyday activities of the lecturers, in order to facilitate their understanding.
- Introduction: why do we use/ need financial analysis?
- Financial statements: presentation, structure (balance sheet, profit & loss, cash-flow statement)
- Evaluation ratios, profitability and debt indicators
- Cost structure ratios and types; case study about the commodities
- Capital structure and cost of capital
- Basic financial ratios: time value of money, discount rate, IRR (Internal Rate of Return), NPV (Net Present Value)
- Valuation models based on discounted cashflows
- Valuation models based on peers analysis
- The non-financial mix: what is of interest and how we analyse it
- Financial models: general companies, banks, insurance companies
- Analysis reports: important facts
- Application: creating an investment portfolio
- Portfolio management: security selection, sector/asset allocation, risk management
- Performance analysis
- Active investors: in search of alpha
- Case study
Cristian Popa, CFA – Chief Investment Officer at NN Private Pensions SAFPAP SA
Cristian is responsible for investments at the largest life insurance company in Romania. With over 8 years of experience in asset management, capital markets and risk management, he had several roles in mutual fund administration, pension funds, financial and derivative trading. Following the graduation from the Faculty of Economics, Cristian received a master degree in International Risk Management at Bucharest Academy of Economic Studies. In 2013, upon receiving the CFA certification, Cristian joined the biggest professional association in investment. He is currently a member of the CFA board in Romania. With excellent skills for financial analysis and corporate finance, he is responsible for investment portfolios and investment companies in Central and Eastern Europe.
Vlad Deliu, CFA, PRM – Investment Manager, NN Life Insurance SA
Vlad is responsible for an investment portfolio of over 2 billion EUR. He has over 12 years of experience in portfolio and risk management, mainly in the Central and Eastern European markets. He is also a management consultant for an IT company. After graduating from the Faculty of Management at Bucharest Academy of Economic Studies in 2004, Vlad received CFA and PRM (Professional Risk Manager) certifications. Vlad is currently a PhD candidate at Politehnica University of Bucharest.
2 days, for a total of 16 hours.
TBA October/November 2019, between 09:00 – 17:00 hours.
Registration is made following the registration form.
RBI will organise the seminar on its premises, and will provide specialized lecturers, course materials and catering services during the training day.
At the end of the course, participants will be given a certificate, issued by RBI (under the aegis of the founding members: NBR and RBA), with 14 CPD credits.
LANGUAGE: Romanian (or English, upon request)