About this course
Learn techniques we teach around the world...
Going beyond simply introducing the basic technical products, this course discusses theories, approaches, and relationships within the capital markets. Participants will learn to analyze current conditions and form educated views about future markets. Through interactive case studies using actual market data, participants will gain a thorough understanding of issuance, capital raising, and the secondary markets. The learning environment is highly engaging, and enhanced by live mini cases/projects/debates, and the use of tools like Excel and Bloomberg.
Case study based curriculum provides hands-on, real world, practical applications of the standards and methods that a professional needs.
Led by our experienced instruction team of former practitioners, you get a unique blend of industry insight combined with a passion for teaching. The average TTS instructor has been part of the team for 8.5 years.
What’s Included
Instructor-led classroom training
Ongoing instructor support
One-year online access to course materials and Excel files
Schedule
9:00 am to 5:00 pm each day with an hour lunch around noon and shorter breaks throughout the day.
Prerequisites
Fundamental knowledge of financial accounting: TTS recommends our self-study book, Fundamentals of Financial Accounting and Analysis. For additional information please visit TTSAcademy.com
What you will learn
Day 1: Equity Capital Markets
Introduction to Capital Markets:
- Key securities and players
- Basics of capital structure
- Sources of liquidity
Equity Issuance:
- IPO process
- Pricing vs. valuation
- Greenshoe
- Follow-on offerings
- Rights issuance
Secondary Trading:
- Order types
- Free float
- Short interest
Day 2: Debt Capital Markets
Fundamentals of Debt:
- Obligation
- Contract
- Series of cash flow
Credit Analysis:
- Security and collateral
- Subordination
- Covenants
- Credit ratings
Key Securities:
- Loans
- Bonds
- Hybrid instruments
Fixed Income Math:
- Compounding and discounting
- Net present value “NPV”
- Internal rate of return “IRR”
- Challenges and how to interpret the results
Bond Pricing:
- How bonds are quoted
- How the bond price is determined
- Trading “like a bond” on yield not price
- How yield is determined
- Price yield relationship