WORKSHOP OUTLINE Day 1

Day 2: Valuation of Equities Types of Equities Dividend Valuation Model Constant Growth Model Valuation of Growth Stocks Earnings Valuation Model Price-Earnings Ratio & Stock Valuation Are Stock Markets Efficient? Random Walk Forms of Market Efficiency Weak Form Semi-strong Form Strong Form of Market Efficiency Implications of Market Efficiency for Investors & Corporate financial Managers.

4 Business and Finance Professionals

www.4bfp.com

Introduction Risk/Return Trade-off Expected Return & Risk Diversification I Portfolios Risk & Diversification Average Return (Mean) and Standard-Deviation

Investment Analysis & Portfolio Management

The primary objective of the workshop is to enable participants to evaluate alternative investment strategies and develop a good understanding of the risk-return trade-off when investing in shares of companies listed on the Qatari and other major stock markets. Topics include measuring risk and return, designing portfolios, measuring the minimum risk portfolio, determining efficient, inefficient and optimum portfolios, pricing risk, valuing equities, valuing fixed income securities (government bonds), assessing/measuring the performance of an investment fund (mutual fund). Participants will gain an in depth understanding of each of the topics through a variety of means; including quizzes, computer exercises, and case study discussions.

8-10 March Doha, QATAR

WORKSHOP DETAILS

Cost: US$2495 (US$1995 if registering before 24th February). Place: Ritz Carlton Hotel Doha, Qatar Time: 8.00am 4.00pm
Brahim Saadouni is an Associate Professor in Finance at one of the top UK Business Schools. His previous roles include Head of School and Director of the Centre for International Capital Markets Research at the University of Hull. His research interests initial public offerings (IPOs); analysts forecasts; and corporate restructuring. He has extensive overseas teaching experience in Asia and the Middle East. He has also given significant number of workshops in the areas of investment and portfolio management; risk management and corporate finance to practitioners in several countries including England (Schroeders Investment Management), Kuwait, Saudi Arabia, United Arab Emirates, Indonesia and Malaysia.

Example 1: Risk/Return Trade-offs of Individual Securities listed on the Qatari Stock Exchange. Example 2: Constructing a Portfolio of Securities listed on Qatar Stock Exchange.
Portfolio Theory & Capital Asset Pricing Model (CAPM) Mean-Variance Analysis Efficient Frontier Two-fund Separation Theorem Diversification II Market Portfolio & CAPM Rolls Critique

Spot & Forward Rates Discount Factors & Forward Rates Discount Rates & Yield Curves Relationship Bond Yields & Bond Prices Relationship Coupon Rates & Bond Price Volatility Duration Active Bond Portfolio Strategies Theories of the Term Structure of Interest Rates

Example 5: Bond Portfolio Construction using US$, Euro, Yen etc government bonds
Portfolio Performance Measurement Risk-Return Trade-off Ex-ante & Ex-post Risk Active & Passive Investments Strategies Simple Measures of Performance Performance Measures Sharpes Performance Index Treynors Performance Index Jensens Performance Index Famas Decomposition Appraisal Ratio Other Performance Related issues. Example 6: Assessing the Performance of Middle Eastern Mutual Funds

Example 4: Valuing a Middle Eastern Listed Company Day 3:

Valuation of Risk Free Bonds Bond Prices Repayment Schedule (Straight-coupon bonds, Zero-coupon bonds, Deferred-coupon bonds) Yield to Maturity Coupon Yields Calculation of Accrued Interest

Example 3: Estimating Market Risk (Beta factor), unique risk, and Other Relevant Variables for Portfolio Construction using companies listed on the local market.