Spring 2024 Finance B8434 section 001

Value Investing in Credit Markets

Value Investing in Credit

Call Number 14593
Day & Time
Location
W 6:00pm-9:15pm
440 GEFFEN HALL
Points 3
Grading Mode Standard
Approvals Required None
Instructors Denis G Tolkachev
Anjali M Verghis
Type LECTURE
Method of Instruction In-Person
Course Description

Corporate credit markets are a central part of U.S. capital markets, however they are generally not well understood by MBA graduates, due to a more typical classroom focus on equities. This course will enable students to develop an understanding of the corporate credit markets and build a practical skill set to evaluate and invest in individual credits using a classic Value Investing methodology.
The approach will be a pragmatic one. Throughout the course, we will focus both on learning how to interpret the market as well as on 4 to 5 different companies - all debt issuers of different credit risk profiles - and will utilize class lectures to discuss the factors that shape capital structure and pricing of various securities (debt or equity) issued by these companies. As part of the final project, students are expected to work in teams and analyze and generate a buy or sell recommendation on the securities issued by a U.S.-based corporate issuer. This assignment will provide students with an opportunity to solidify the learnings in a hands-on, experiential manner.
In addition to lectures and student presentations, students will also hear from representatives of private equity, credit and distressed investment management, and investment banking firms. These speaker sessions will enable students to gain access to multiple viewpoints to credit markets and various investing techniques and styles.
Given the importance of credit to companies, we believe that the skill set and knowledge obtained from this class will be valuable whether one becomes an equity (public or private) investor, a credit investor, or an investment banker. We want this course to prepare students for an internship or full-time role in credit research; while we welcome anyone with an interest in the class, the material is targeted towards those with limited corporate credit experience.

Web Site Vergil
Department Finance
Enrollment 23 students (25 max) as of 5:05PM Sunday, December 8, 2024
Subject Finance
Number B8434
Section 001
Division School of Business
Open To Business, Journalism
Section key 20241FINC8434B001