Executive Program in Value Investing and Behavioral Finance
What can the Program offer you?
The program is the result of a collaboration between Value School, the Institute of Neuroeconomics and Value Investing and the Universidad Pontificia Comillas, specifically through ICADE Business School.
You will be able to choose between attending classes in person or remotely via the internet. You can even combine both modalities.
You will learn, from the ground up, the theoretical and practical knowledge, valuing an investment from scratch under the guidance of some of the most prestigious investment managers in our country. The program covers, apart from the fundamentals of Behavioural Economics, the Strategic and Financial Analysis of the Company, Company Valuation Methods and the Construction of Financial Models in Excel. The program culminates with a module of practical classes taught by renowned managers who apply this method of working in several of the most important national asset managers.
This knowledge is particularly useful in various areas of Investment Banking, Mergers and Acquisitions, Strategy, Financial Planning, Private Equity and of course Capital Markets and Equity Portfolio Management.
- CentersEconómicas y Empresariales (Comillas ICADE)
- LanguagesSpanish
- CertificationComillas degrees
- ModalityPresencial
- Duration5 months
- Seats40
Any questions?
What makes us different?
Specialisation
Comprehensive understanding of the value investing process
Methodology
Work method followed by some of the most successful investors (Buffett, Fisher, Lynch or Klarman).
Neuroeconomics module
Understanding how brain function affects investment decisions
Study Plan
- Introducción histórica a la EAE: EAE vs Doctrina General.
- La Acción Humana (Mises). Elementos definitorios. Medios y Fines.
- La Función Empresarial.
- La Ley de la Utilidad Marginal, Ley de la División del Conocimiento y el Trabajo y Ley de Determinación de Precios.
- El Cálculo Económico. Teoría del Dinero.
- Ley del Coste.
- El Socialismo y los Errores Económicos.
- Teoría del interés. La Preferencia Temporal.
- La Teoría del Capital Austriaca.
- La Teoría Austriaca del Ciclo Económico.
- Ejemplos históricos. La Crisis Inmobiliaria en España. La Crisis de los años 30 en EEUU.
- Posibles soluciones. Propuesta de reforma del sistema bancario.
- Introducción a la Neuroeconomía y Behavioral Economics: Neurofinanzas.
- Mecanismos Cerebrales Utilizados en la Toma de Decisiones Financieras.
- Euforia y Pánico: Ciclos Económicos.
- Recompensa Cerebral y Aversión a la Pérdida.
- Efecto Manada y Otras Tendencias del Mercado.
- Aversión al Riesgo y Sobrerreacciones a las Noticias.
- Enfoques Teóricos en la Gestión de Renta Variable.
- Historia y Evolución de la Inversión en Valor.
- Aplicación Práctica: qué Buscamos en una Compañía.
- Ventajas Competitivas y Análisis Estratégico de la Empresa.
- Value Traps: Señales para Detectarlas y Cómo Evitarlas.
- Normalización en los Estados Financieros.
- Ejemplos Prácticos.
- Análisis de Estados Financieros.
- Fundamentos de Modelización en Excel
- Múltiplos: Valoración por Múltiplos de Balance, Pérdidas y Ganancias y Cash Flow.
- DCF: Valoración por Descuento de Flujos de Caja.
- Práctica de Análisis Financiero y de Ratios + Valoración.
En estas sesiones se estudian las peculiaridades de algunos sectores y su análisis. Concretamente al sector financiero, energía, autos, inmobiliario, utilities y tecnología.
Estas clases prácticas tendrán un formato abierto, en el que el gestor compartirá y discutirá con los alumnos los puntos de interés en su tesis de inversión, fomentando un debate en el que los alumnos puedan entender “desde dentro” como es el proceso de toma de decisiones de cada gestor, qué puntos clave considera a la hora de buscar ideas de inversión, y cómo maneja e interpreta la información del mercado.
Everything you need to know
Teaching Staff
George Athanassakos
Program Partners
This program combines the academic excellence of ICADE Business School with the practical approach provided by Value School and the Institute for Neuroeconomics and Value Investing, through the participation of expert managers from the financial sector and neuroscience.
ICADE_Comillas
Calle Alberto Aguilera, 23
28015 Madrid
Its origins date back to 1956 when business management courses began to be taught in the Jesuit residence in Zorrilla Street. Today, it has been a reference for more than half a century in the areas of Law and Business Administration and Management, playing a pioneering role in the implementation of double degree programs in our country.
Related studies
Preguntas frecuentes
Because Comillas studies are in high demand and places are limited, the best candidates have to be selected through admission tests.
Each class has its own tutor, whose function is to integrate the student into the group and to pay attention to their academic performance. Furthermore, at Comillas, the teaching system is distinguished, among other characteristics, by the personalised attention and the fluid and permanent relationship between teachers and students.
The teaching system at Comillas is especially oriented towards the relationship with the reality of companies, institutions, organisations and professional practice. The Internship and Employment Office is responsible for providing students with internships related to their studies in order to enrich their training. In the 2017-18 academic year, 6,296 student internships were managed in companies.
In addition to these internships managed by the Internship and Employment Office, all degree courses have a significant number of compulsory external internships as part of their curriculums.The Internship and Employment Office informs, guides and collaborates in the insertion in the labour market of recent graduates or in the projection of the professional career of Comillas graduates, for which it has an online tool that puts candidates in direct contact with 5,078 companies with which Comillas maintains a relationship. During the 2017-18 academic year, 1,838 job offers were managed. Of the total number of graduates from the 2018 graduating class, 93.22% are employed, either working or furthering their studies, within six months of completing their studies.
Contact
C/ Alberto Aguilera, 23 - 28015 Madrid
Tel.: (+34) 91 542 28 00 - Ext. 2840 - 2117
Fax: (+34) 91 559 65 69
cid@comillas.edu
Luis García Álvarez - Co-director
Rodrigo Utrera - Co-director
Marta Carromero - Coordinator
mcarromero@comillas.edu
