COURSE NUMBER: MBA
237.2
This course is
cross-listed with the Evening-Weekend MBA Program.
COURSE TITLE: Asset
Management
UNITS OF CREDIT: 2
units
INSTRUCTOR: Kenneth
Jeffrey Marshall
E-MAIL ADDRESS: kjm@post.harvard.edu
PREREQUISITE(S): MBA
203/EWMBA 203 Introduction to Finance
CLASS FORMAT: Case
method discussions and lectures.
REQUIRED READINGS: Pioneering
Portfolio Management by David F. Swensen; primary sources such
as SEC filings and outperforming investment manager performance reports.
BASIS FOR FINAL
GRADE: 30% class participation, 30% midterm, 40% final exam.
CAREER FIELD: This
course is designed to serve those interested in careers in asset management,
equity research, financial advisory services, financial planning, hedge funds,
investment committee work, mutual funds, portfolio management, proprietary
trading, securities analysis, value investing, and wealth management.
ABSTRACT OF COURSE'S
CONTENT AND OBJECTIVES: The
objective of the course is to elevate to a superior level students’ abilities
to manage investment portfolios over the long term. Students will become
confident allocating capital both as principals, working for themselves and for
their families; and as agents; acting on behalf of clients as professional
money managers.
Before each class, students will read selected primary sources as well as
portions of Pioneering
Portfolio Management, the value-oriented book by Yale’s longtime
outperforming chief investment officer. Each session will focus on a
particular asset class such as equities, fixed income securities, cash, private
funds like venture capital and private equity, and real assets such as
commodities and timberland. Attention will also be given to active vs. passive
strategies, fundamental vs. technical analysis, portfolio construction, risk,
and investor psychology.
The course is highly participatory. Students should come to class
prepared to discuss - - clearly and constructively - - their views on that
day’s material. Students are encouraged to make full use of any domain
expertise they may have that can advance everyone’s understanding.
BIOGRAPHICAL SKETCH: Kenneth
Jeffrey Marshall has taught asset management at Haas since 2016. He also
teaches value investing in the masters in finance program at the Stockholm
School of Economics in Sweden; and finance and industry analysis in the masters
in engineering program at Berkeley. He is the author of the 2017
McGraw-Hill book Good Stocks Cheap: Value Investing with Confidence for a Lifetime
of Stock Market Outperformance. He is chairman of Judicial
Capital, a private investment firm; and Judicial Corporation, which he founded
in 1995. Mr. Marshall holds a B.A. in Economics, International Area
Studies from the University of California, Los Angeles; and an M.B.A. from
Harvard University.