Video library
218 animated lessons · about 21 h 49 min. Each video sits on top of its written lesson, with the worked examples and self-check below it.
Quantitative Methods · 23 videos
7:08Time-weighted vs money-weighted returnRates and Returns
5:40Annualised and continuously compounded returnsRates and Returns
6:34Gross, net, after-tax, real and leveraged returnsRates and Returns
5:41Present value and discount (zero-coupon) bondsThe Time Value of Money in Finance
6:43Level-payment instruments: mortgages and amortizing loansThe Time Value of Money in Finance
6:35Target downside deviation and coefficient of variationStatistical Characteristics of Asset Returns
5:35Skewness and kurtosisStatistical Characteristics of Asset Returns
6:54Expected value, variance and standard deviationProbability Trees and Conditional Expectations
6:22Conditional expected values and variancesProbability Trees and Conditional Expectations
4:58Bayes' formula: updating a probability with new informationProbability Trees and Conditional Expectations
5:33Portfolio expected return and variancePortfolio Mathematics
6:48From continuous returns to lognormal pricesSimulation of Financial Asset Prices and Returns
6:08The standard error of the sample meanEstimation and Inference
5:02Type I and Type II errors, significance and powerHypothesis Testing
6:50Critical values, p-values and the decision ruleHypothesis Testing
6:25Two means: independent vs paired samplesHypothesis Testing
6:50Testing variances: chi-square and FHypothesis Testing
6:49The Spearman rank correlation testParametric and Non-Parametric Tests of Independence
6:18Contingency tables and the chi-square test of independenceParametric and Non-Parametric Tests of Independence
6:35The four assumptions and residual plotsApplications of Simple Linear Regression in Finance
5:49Sums of squares, \(R^2\), the ANOVA table and the SEEApplications of Simple Linear Regression in Finance
6:38Testing the slope: t-test, correlation test and F-testApplications of Simple Linear Regression in Finance
7:02Functional forms: log-lin, lin-log and log-logApplications of Simple Linear Regression in Finance
Financial Statement Analysis · 36 videos
6:36Revenue recognition in practice and what it means for analysisAnalyzing Income Statements
6:23Capitalised interest and capitalised development costsAnalyzing Income Statements
6:21Non-recurring items, discontinued operations and accounting changesAnalyzing Income Statements
5:33Basic EPS and the weighted average number of sharesAnalyzing Income Statements
6:16Diluted EPS: if-converted, treasury stock and antidilutionAnalyzing Income Statements
6:16Goodwill: recognition, impairment and analysisAnalyzing Balance Sheets
6:33Financial instruments: classification and measurementAnalyzing Balance Sheets
5:51Operating cash flow: the direct methodAnalyzing Statements of Cash Flows I
6:05Operating cash flow: the indirect methodAnalyzing Statements of Cash Flows I
6:25Converting the indirect method to the direct methodAnalyzing Statements of Cash Flows I
6:35Free cash flow to the firm and to equityAnalyzing Statements of Cash Flows II
6:31Cash flow performance ratiosAnalyzing Statements of Cash Flows II
6:29Inventory cost formulas and inventory systemsAnalysis of Inventories
6:42Rising and falling costs: effects on statements and ratiosAnalysis of Inventories
6:25The LIFO reserve, LIFO-to-FIFO conversion and LIFO liquidationAnalysis of Inventories
6:39Measuring inventory: lower of cost and net realisable valueAnalysis of Inventories
6:30Internally developed intangibles and capitalising versus expensingAnalysis of Long-Term Assets
6:41Impairment of PPE and intangiblesAnalysis of Long-Term Assets
6:28Derecognition: sale, abandonment, exchange and spin-offAnalysis of Long-Term Assets
6:43Fixed asset turnover, asset age and reinvestmentAnalysis of Long-Term Assets
6:35What a lease is and how it is classifiedTopics in Long-Term Liabilities and Equity
6:13Lessee accounting: the IFRS model and US GAAP finance leasesTopics in Long-Term Liabilities and Equity
6:06US GAAP operating leases and the effect on ratiosTopics in Long-Term Liabilities and Equity
6:28Defined contribution and defined benefit pension plansTopics in Long-Term Liabilities and Equity
6:27Share-based compensation: stock grants, options and SARsTopics in Long-Term Liabilities and Equity
6:52Temporary versus permanent differencesAnalysis of Income Taxes
6:39Deferred tax balances and income tax expenseAnalysis of Income Taxes
6:07Realising deferred tax assets and tax rate changesAnalysis of Income Taxes
6:15Effective, statutory and cash tax ratesAnalysis of Income Taxes
6:34Warning signs and how to detect manipulationFinancial Reporting Quality
6:35Activity ratiosFinancial Analysis Techniques
6:27Liquidity ratios and the cash conversion cycleFinancial Analysis Techniques
6:32Solvency ratiosFinancial Analysis Techniques
5:26Profitability ratiosFinancial Analysis Techniques
7:00Integrated ratio analysis and DuPontFinancial Analysis Techniques
6:22Forecasting the cash flow statement and balance sheetIntroduction to Financial Statement Modeling
Fixed Income · 37 videos
5:26Bullet, fully amortizing and partially amortizing bondsFixed-Income Cash Flows and Types
6:20Convertible bonds, warrants and contingent convertiblesFixed-Income Cash Flows and Types
6:21Repo mechanics: repo rate, initial margin, haircut and variation marginFixed-Income Markets for Corporate Issuers
6:45Pricing a bond with a market discount rateFixed-Income Bond Valuation: Prices and Yields
5:27Yield-to-maturity: the bond's internal rate of returnFixed-Income Bond Valuation: Prices and Yields
6:38Between coupon dates: accrued interest, flat and full priceFixed-Income Bond Valuation: Prices and Yields
6:19How coupon, maturity and yield drive bond pricesFixed-Income Bond Valuation: Prices and Yields
6:27Matrix pricing for illiquid and new bondsFixed-Income Bond Valuation: Prices and Yields
6:44Periodicity and converting annual yieldsYield and Yield Spread Measures for Fixed-Rate Bonds
6:36Callable bonds: yield-to-call, yield-to-worst and option-adjusted yieldYield and Yield Spread Measures for Fixed-Rate Bonds
6:19I-spread, Z-spread and option-adjusted spreadYield and Yield Spread Measures for Fixed-Rate Bonds
6:53Pricing an FRN and estimating its discount marginYield and Yield Spread Measures for Floating-Rate Instruments
6:38Bond equivalent yield: comparing money market instrumentsYield and Yield Spread Measures for Floating-Rate Instruments
6:24Pricing a bond with spot ratesThe Term Structure of Interest Rates: Spot, Par, and Forward Curves
6:21Par rates and the par curveThe Term Structure of Interest Rates: Spot, Par, and Forward Curves
6:24Implied forward rates from spot ratesThe Term Structure of Interest Rates: Spot, Par, and Forward Curves
5:30Spot rates from forward rates, and pricing with forwardsThe Term Structure of Interest Rates: Spot, Par, and Forward Curves
6:20The three sources of return on a fixed-rate bondInterest Rate Risk and Return
5:37Horizon yield: the realized return when rates moveInterest Rate Risk and Return
6:42Reinvestment risk, price risk and the duration gapInterest Rate Risk and Return
6:22Calculating Macaulay duration on a coupon dateInterest Rate Risk and Return
6:41From Macaulay duration to modified durationYield-Based Bond Duration Measures and Properties
5:38Approximate modified durationYield-Based Bond Duration Measures and Properties
6:33Money duration and the price value of a basis pointYield-Based Bond Duration Measures and Properties
6:10Estimating price changes with duration and convexityYield-Based Bond Convexity and Portfolio Properties
6:34Portfolio duration and convexityYield-Based Bond Convexity and Portfolio Properties
6:37Effective convexity: callable versus putable bondsCurve-Based and Empirical Fixed-Income Risk Measures
6:42Key rate duration and yield curve shape riskCurve-Based and Empirical Fixed-Income Risk Measures
5:32Expected loss: POD × LGDCredit Risk
6:17How spread changes move bond pricesCredit Risk
6:04Calculating credit ratiosCredit Analysis for Corporate Issuers
6:35Seniority, priority of claims and recoveryCredit Analysis for Corporate Issuers
5:37Tranching: who is paid first and who loses firstFixed-Income Securitization
6:10Credit enhancement: OC, excess spread and tranchingAsset-Backed Security (ABS) Instrument and Market Features
6:23Prepayment risk and time tranchingMortgage-Backed Security (MBS) Instrument and Market Features
6:33Agency and non-agency RMBS, and pass-throughsMortgage-Backed Security (MBS) Instrument and Market Features
6:35Collateralized mortgage obligations (CMOs)Mortgage-Backed Security (MBS) Instrument and Market Features
Equity Investments · 20 videos
5:19Long, short and leveraged positions: leverage ratio, margin return and margin callsMarket Organization and Structure
5:40Orders: execution, validity and clearing instructionsMarket Organization and Structure
5:34What an index is: value, price return and total returnSecurity Market Indexes
5:27Price-weighted and equal-weighted indexesSecurity Market Indexes
5:24Market-cap, float-adjusted and fundamental weightingSecurity Market Indexes
5:34Weak, semi-strong and strong formsMarket Efficiency
5:25Market anomalies I: calendar, momentum, size and valueMarket Efficiency
5:07Preference shares: cumulative, participating and convertibleOverview of Equity Securities
5:26Book value, market value, ROE and the cost of equityOverview of Equity Securities
5:40Operating costs and operating leverageCompany Analysis: Past and Present
5:30Profitability, market share trends and concentration (HHI)Industry and Competitive Analysis
5:36Industry structure: Porter's Five ForcesIndustry and Competitive Analysis
5:30Scenario analysis: risk factors, cost structure and sensitivityCompany Analysis: Forecasting
5:37Intrinsic value, mispricing and the three model familiesEquity Valuation: Concepts and Basic Tools
5:30Dividends, splits, buybacks and the payment timelineEquity Valuation: Concepts and Basic Tools
4:46Present value models: DDM and FCFEEquity Valuation: Concepts and Basic Tools
5:39Preferred stock and the Gordon growth modelEquity Valuation: Concepts and Basic Tools
4:53Multistage dividend discount modelsEquity Valuation: Concepts and Basic Tools
5:40Price multiples and the method of comparablesEquity Valuation: Concepts and Basic Tools
5:28Enterprise value multiples, asset-based valuation and choosing a modelEquity Valuation: Concepts and Basic Tools
Corporate Issuers · 15 videos
5:34Leverage: higher return, higher riskInvestors and Other Stakeholders
5:34Payoffs and conflicts between lenders and shareholdersInvestors and Other Stakeholders
5:18Principal-agent relationships and agency costsCorporate Governance: Conflicts, Mechanisms, Risks, and Benefits
5:36The operating cycle and the cash conversion cycleWorking Capital and Liquidity
5:32Shortening the cycle and the cost of trade creditWorking Capital and Liquidity
5:44Drags, pulls and liquidity ratiosWorking Capital and Liquidity
5:21Conservative, moderate and aggressive working capitalWorking Capital and Liquidity
5:38The capital allocation process and NPVCapital Investments and Capital Allocation
6:05IRR, and choosing between IRR and NPVCapital Investments and Capital Allocation
5:41Return on invested capital (ROIC)Capital Investments and Capital Allocation
5:40Real optionsCapital Investments and Capital Allocation
5:47The cost of capital and WACCCapital Structure
5:33Modigliani-Miller without taxes: capital structure irrelevanceCapital Structure
5:51Modigliani-Miller with taxes, and the cost of financial distressCapital Structure
5:37Optimal and target capital structures, pecking order and agency costsCapital Structure
Derivatives · 24 videos
5:31Futures contracts and daily settlementForward Commitment and Contingent Claim Features and Instruments
5:45Swaps as a series of forwardsForward Commitment and Contingent Claim Features and Instruments
5:33Options and call payoffsForward Commitment and Contingent Claim Features and Instruments
5:35Put payoffs and the four option positionsForward Commitment and Contingent Claim Features and Instruments
5:26Credit default swapsForward Commitment and Contingent Claim Features and Instruments
5:13Forward commitments versus contingent claimsForward Commitment and Contingent Claim Features and Instruments
5:19Arbitrage and the law of one priceArbitrage, Replication, and the Cost of Carry in Pricing Derivatives
5:28Replicating a forward commitmentArbitrage, Replication, and the Cost of Carry in Pricing Derivatives
5:58The cost of carry: income and costs of owning the underlyingArbitrage, Replication, and the Cost of Carry in Pricing Derivatives
5:01Commodities, convenience yield and carry by asset classArbitrage, Replication, and the Cost of Carry in Pricing Derivatives
5:37Valuing a forward during its lifePricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities
5:40Pricing and valuing FX forwardsPricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities
6:02Implied forward ratesPricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities
5:48Forward rate agreements (FRAs)Pricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities
5:28Pricing a futures contract at inceptionPricing and Valuation of Futures Contracts
5:23Short-term interest rate futures versus FRAsPricing and Valuation of Futures Contracts
5:29Pricing a swap: the par swap ratePricing and Valuation of Interest Rate and Other Swaps
5:22Swap price versus swap valuePricing and Valuation of Interest Rate and Other Swaps
5:58Arbitrage: forwards versus options, and option price boundsPricing and Valuation of Options
5:47Factors that determine an option's valuePricing and Valuation of Options
5:49Fiduciary call, protective put and put–call parityOption Replication Using Put–Call Parity
5:49Synthetic positions and option strategies from parityOption Replication Using Put–Call Parity
5:43The hedge ratio and the riskless portfolioValuing a Derivative Using a One-Period Binomial Model
5:26Risk neutrality and risk-neutral probabilitiesValuing a Derivative Using a One-Period Binomial Model
Alternative Investments · 15 videos
5:27Three ways in: fund investing, co-investing and direct investingAlternative Investment Features, Methods, and Structures
5:33Compensation: fees, hurdles, catch-ups, clawbacks and waterfallsAlternative Investment Features, Methods, and Structures
5:38Why appraisal is harder: the life cycle and the J-curveAlternative Investment Performance and Returns
5:45Measuring returns: IRR versus MOICAlternative Investment Performance and Returns
5:41Hurdle rates, catch-up, waterfalls and clawbackAlternative Investment Performance and Returns
5:23High-water marks, investor timing and either/or feesAlternative Investment Performance and Returns
5:18Venture capital and the corporate life cycleInvestments in Private Capital: Equity and Debt
5:21Private debt: the main categoriesInvestments in Private Capital: Equity and Debt
5:36Direct ownership, indirect vehicles and REITsReal Estate and Infrastructure
5:32Greenfield, brownfield and secondary stage; forms of investmentReal Estate and Infrastructure
5:32Investing in farmland and timberlandNatural Resources
5:43Commodity pricing: carry, convenience yield and curve shapeNatural Resources
5:34Strategy families and equity hedge strategiesHedge Funds
5:07Investing directly: partnerships, master-feeders, side letters and SMAsHedge Funds
5:33Distributed ledgers, blockchains and their financial usesIntroduction to Digital Assets
Portfolio Management · 22 videos
6:31Risk aversion and utilityPortfolio Risk and Return: Part I
6:32Indifference curves and the capital allocation linePortfolio Risk and Return: Part I
6:48Measuring asset and portfolio riskPortfolio Risk and Return: Part I
6:38Correlation and the power of diversificationPortfolio Risk and Return: Part I
6:32Minimum-variance and efficient frontiersPortfolio Risk and Return: Part I
6:42Optimal risky portfolio and the optimal investor portfolioPortfolio Risk and Return: Part I
6:41The risk-free asset, the market portfolio and the CMLPortfolio Risk and Return: Part II
6:10Lending, borrowing and leveraged portfolios on the CMLPortfolio Risk and Return: Part II
6:17Systematic and nonsystematic riskPortfolio Risk and Return: Part II
6:41Return-generating models, the market model and betaPortfolio Risk and Return: Part II
6:29The CAPM: assumptions, the SML and its limitsPortfolio Risk and Return: Part II
6:44Sharpe ratio, Treynor ratio, M² and Jensen's alphaPortfolio Risk and Return: Part II
6:49Applying the CAPM: budgeting, security selection and portfolio buildingPortfolio Risk and Return: Part II
6:41Institutional investors and their needsPortfolio Management: An Overview
6:25Risk objectives and risk tolerance: ability vs willingnessBasics of Portfolio Planning and Construction
6:34Return objectives and the required returnBasics of Portfolio Planning and Construction
6:57Constraints: liquidity, horizon, tax, legal and unique circumstancesBasics of Portfolio Planning and Construction
6:35Cognitive errors versus emotional biasesThe Behavioral Biases of Individuals
7:05Information-processing biases: anchoring, mental accounting, framing and availabilityThe Behavioral Biases of Individuals
6:32Emotional biases I: loss aversion and overconfidenceThe Behavioral Biases of Individuals
6:25Risk tolerance and risk budgetingIntroduction to Risk Management
6:31Modifying risk: avoid, accept, transfer or shiftIntroduction to Risk Management
Economics · 15 videos
5:55Revenue, economic profit and the MR = MC ruleThe Firm and Market Structures
5:28Breakeven, shutdown and exit decisionsThe Firm and Market Structures
5:43Oligopoly: kinked demand, Cournot, Stackelberg and price leadershipThe Firm and Market Structures
5:47Oligopoly strategy: Nash equilibrium, collusion and the long runThe Firm and Market Structures
5:43The four phases, recessions and market behaviourUnderstanding Business Cycles
5:33Leading, coincident and lagging indicatorsUnderstanding Business Cycles
5:39The fiscal multiplier, balanced budgets and Ricardian equivalenceFiscal Policy
5:10How a rate change reaches growth, inflation and the currencyMonetary Policy
5:35Limits of monetary policy: weak transmission, deflation and quantitative easingMonetary Policy
5:42Geopolitical risk and the four archetypes of country behaviourIntroduction to Geopolitics
5:36Trade restrictions and tariffsInternational Trade
5:39Trading blocs: from free trade areas to economic unionsInternational Trade
5:27Nominal and real exchange ratesCapital Flows and the FX Market
5:40Building a cross-rate from two quotesExchange Rate Calculations
5:37The no-arbitrage link between spot, forward and interest ratesExchange Rate Calculations
Ethical and Professional Standards · 11 videos
5:28A framework for ethical decision makingEthics and Trust in the Investment Profession
5:08The six components of the Code of EthicsCode of Ethics and Standards of Professional Conduct
5:30Standard I: ProfessionalismGuidance for Standards I–VII
5:34Standard II: Integrity of Capital MarketsGuidance for Standards I–VII
5:36Standard III(A)–(B): Loyalty, Prudence, Care and Fair DealingGuidance for Standards I–VII
5:36Standard III(C)–(E): Suitability, Performance Presentation and ConfidentialityGuidance for Standards I–VII
5:31Standard IV: Duties to EmployersGuidance for Standards I–VII
5:35Standard V: Investment Analysis, Recommendations, and ActionsGuidance for Standards I–VII
5:36Standard VI: Conflicts of InterestGuidance for Standards I–VII
5:03Standard VII: Responsibilities as a CFA Institute Member or CFA CandidateGuidance for Standards I–VII
5:41How to work through an ethics caseApplication of the Code and Standards: Level I