HADM 6667: Investment in RE Securities & Funds
Elective - 3 credit hours - Letter grade only
Offered Fall and Spring
Prerequisite(s): By application only. Application closing dates are well in advance of registration. Prerequisites include HADM 4428 or HADM 6628(formerly HADM 628) or equivalent course work and securities investment experience.
Faculty teaching this course in Spring 10:
Students manage a real-world portfolio of publicly traded real estate securities and unlisted real estate fund unit interests. Investment management of the portfolio involves fundamental research in property and securities markets, making initial investments in real estate companies and funds, executing trades in positions held in the portfolio, developing/testing trading strategies, and managing risk. The objective of the course is to promote sound real estate investment decision-making. Students will be exposed to a broad literature on real estate securities, fund investing, trading strategies, and hedging. They will be provided opportunities to practice advanced methods of investment management and securities trading with special applications to real estate, such as taking simultaneous long/short positions to hedge systematic risk, using newly created derivative real estate securities to directly hedge long positions, and running portfolio optimizers to manage unsystematic risk. All types of residential and commercial real estate securities are analyzed, including those of hospitality firms.