CCE 11
Investing in a Real Fund Winter 2025

We will use financial fraud as an entryway into the world of investing. Through the lens of how bad actors have tricked markets, we will learn how to analyze firms and stocks with a bit of a cautious eye. The focus of the course is to learn how to analyze and value a company. Along the way, we’ll touch on a host of topics: basic financial accounting, investment instruments, corporate capital structure, equity and fixed income markets, derivatives, market efficiency, behavioral finance, and non-financial drivers (ESG, etc.) to arrive at a sound base of securities analysis. We’ll conclude with student pitches for stocks we will buy (or not) in the fund we manage. And while we will employ a classic textbook, we’ll also read about true financial frauds that are just jaw-dropping. (Students will read a couple chapters of the textbook and one ~250 page easily-read fraud each week. This course is designed for students with anywhere from no experience in investing to a moderate amount.) Interested students should apply by October 25. Applications for all CCE Courses can be found here: https://airtable.com/appLN37taapdMaZ7V/shrzUn85G4OUycgXc