COURSE NO: MBA 236B.1

COURSE TITLE: Investment Strategies and Styles

INSTRUCTOR: Robert G. O'Donnell

UNITS OF CREDIT: 2

EMAIL: rgo1@comcast.net

CLASS WEB PAGE LOCATION: https://bspace.berkeley.edu/portal

MEETING DAY(S)/TIME: Monday, 2:00-4:00 PM

PREREQUISITE(S): MBA 203, Second-years only.

REQUIRED READINGS: Course Reader

Thaler, Richard, "The Winner's Curse," Princeton University Press, 1992.

In addition, it is assumed that students are regular readers of the Wall Street Journal and a quality general circulation newspaper such as the NY Times.

BASIS FOR FINAL GRADE: papers, case, and class discussion.

ABSTRACT OF COURSE'S CONTENT AND OBJECTIVES:

In this seminar, we will study many different investment strategies. The course will focus upon the strategies of investors such as George Soros, Warren Buffett, Richard Thaler,  passive index funds, and those of the instructor and guests. The seminar will be visited by 4 or 5 guest speakers from investment management firms who will discuss their own approaches. The premise of the course is that while there is no “perfect” investment strategy, much can be gained from understanding different ones. The management of large pools of assets with a long-term focus will be emphasized. This seminar may be of value to those considering a career in investment management as well as to those who seek a better understanding of how financial theory is applied in practice.

Since the first rule of enhancing wealth is not to lose it, risk mitigation will be addressed. This will include an attempt to understand what is meant by "risk" in the first place. Some time will also be spent discussing manias, financial disasters, endowment management, and ethics. I suspect that those who expect the class to provide "answers" in the form of a few quick takeaways will be disappointed. On the other hand, I suspect that those who have a high tolerance for ambiguity and want to understand how very different approaches to investing can be successful will find the class of interest.

BIOGRAPHY:

 Bob O'Donnell recently retired after 39 years as a portfolio manager with Capital Research & Management, a large mutual fund management company. He had responsibility for approximately $20 billion of assets, primarily in the "growth and income" category.

Bob is a CFA and CPA with a B.S. and MBA from UC-Berkeley.