Finance and capital markets
This course explores the essentials of Finance and Capital Markets, from how interest works to the ins and outs of stocks, bonds, and cash flow. Discover how financial markets move money, manage risk, and fuel investment decisions, and learn how you can use financial markets to maximize your money.
10 units325 videos45 hours
Learn it live with a class on Puzzicle · Teachers: use it with your class
Unit 1: Interest and debt
Compound interest basics
Credit cards and loans
Continuous compound interest and e
Present value
Personal bankruptcy
Unit 2: Housing
Home equity and personal balance sheets
Renting vs. buying a home
Mortgages
Unit 3: Inflation
Inflation basics
Inflation scenarios
Real and nominal return
Capacity utilization and inflation
Economics of a cupcake factory ✓ Check-ins11:13
Cupcake economics 2 ✓ Check-ins11:37
Cupcake economics 3 ✓ Check-ins12:58
Inflation, deflation, and capacity utilization ✓ Check-ins12:32
Inflation, deflation, and capacity utilization 2 ✓ Check-ins11:49
Inflation and deflation 3: Obama stimulus plan ✓ Check-ins13:20
Unit 4: Taxes
Personal taxes
Basics of US income tax rate schedule ✓ Check-ins4:08
Tax deductions introduction ✓ Check-ins3:30
AMT overview ✓ Check-ins3:45
Alternative minimum tax ✓ Check-ins3:55
Estate tax introduction ✓ Check-ins10:46
Tax brackets and progressive taxation ✓ Check-ins4:15
Calculating state taxes and take home pay ✓ Check-ins6:30
Marriage penalty ✓ Check-ins10:05
Married taxes clarification ✓ Check-ins3:40
Unit 5: Accounting and financial statements
Cash versus accrual accounting
Three core financial statements
Unit 6: Stocks and bonds
Introduction to stocks
Shorting stock
Understanding company statements and capital structure
Corporate metrics and valuation
Price and market capitalization ✓ Check-ins11:55
Introduction to the income statement ✓ Check-ins15:27
Earnings and EPS ✓ Check-ins10:14
Introduction to the price-to-earnings ratio ✓ Check-ins14:47
P/E discussion ✓ Check-ins15:34
ROA discussion 1 ✓ Check-ins10:31
ROA discussion 2 ✓ Check-ins10:17
Depreciation ✓ Check-ins12:33
Amortization ✓ Check-ins7:45
P/E conundrum ✓ Check-ins13:41
Enterprise value ✓ Check-ins17:29
EBITDA ✓ Check-ins14:07
Life of a company--from birth to death
Raising money for a startup ✓ Check-ins12:02
Getting a seed round from a VC ✓ Check-ins11:04
Going back to the till: Series B ✓ Check-ins11:54
An IPO ✓ Check-ins14:29
More on IPOs ✓ Check-ins11:47
Equity vs. debt ✓ Check-ins13:54
Bonds vs. stocks ✓ Check-ins9:21
Chapter 7: Bankruptcy liquidation ✓ Check-ins11:20
Chapter 11: Bankruptcy restructuring ✓ Check-ins14:05
Dilution
Mergers and acquisitions
Leveraged buy-outs
Bonds
Corporate debt versus traditional mortgages ✓ Check-ins4:56
Introduction to bonds ✓ Check-ins8:42
Introduction to the yield curve ✓ Check-ins9:56
Relationship between bond prices and interest rates ✓ Check-ins13:16
Treasury bond prices and yields ✓ Check-ins3:47
Annual interest varying with debt maturity ✓ Check-ins3:10
The yield curve ✓ Check-ins4:16
Unit 7: Investment vehicles, insurance, and retirement
Mutual funds and ETFs
Retirement accounts: IRAs and 401ks
Hedge funds
Hedge funds intro ✓ Check-ins3:32
Hedge fund structure and fees ✓ Check-ins6:51
Are hedge funds bad? ✓ Check-ins7:50
Hedge funds, venture capital, and private equity ✓ Check-ins2:54
Hedge fund strategies: Long short 1 ✓ Check-ins3:35
Hedge fund strategies: Long short 2 ✓ Check-ins4:31
Hedge fund strategies: Merger arbitrage 1 ✓ Check-ins5:01
Investment and consumption
Risk and reward introduction ✓ Check-ins11:39
Human capital ✓ Check-ins5:57
Return on capital ✓ Check-ins9:50
Investment vs. consumption 1 ✓ Check-ins9:51
Investment vs. consumption 2 ✓ Check-ins10:13
Wealth destruction 1 ✓ Check-ins10:30
Wealth destruction 2 ✓ Check-ins10:40
Back-of-envelope office space conundrum ✓ Check-ins3:48
Unit 8: Money, banking and central banks
Banking and money
Banking 1 ✓ Check-ins11:49
Banking 2: A bank's income statement ✓ Check-ins11:59
Banking 3: Fractional reserve banking ✓ Check-ins11:48
Banking 4: Multiplier effect and the money supply ✓ Check-ins11:07
Banking 5: Introduction to bank notes ✓ Check-ins8:49
Banking 6: Bank notes and checks ✓ Check-ins11:02
Banking 7: Giving out loans without giving out gold ✓ Check-ins8:29
Banking 8: Reserve ratios ✓ Check-ins10:49
Banking 9: More on reserve ratios (bad sound) ✓ Check-ins8:52
Banking 10: Introduction to leverage (bad sound) ✓ Check-ins9:21
Banking 11: A reserve bank ✓ Check-ins11:28
Banking 12: Treasuries (government debt) ✓ Check-ins11:18
Banking 13: Open market operations ✓ Check-ins12:28
Banking 14: Fed funds rate ✓ Check-ins11:42
Banking 15: More on the Fed funds rate ✓ Check-ins12:16
Banking 16: Why target rates vs. money supply ✓ Check-ins11:40
Banking 17: What happened to the gold? ✓ Check-ins10:12
Banking 18: Big picture discussion ✓ Check-ins14:08
The discount rate ✓ Check-ins13:22
Repurchase agreements (repo transactions) ✓ Check-ins11:24
Federal Reserve balance sheet ✓ Check-ins9:57
Fractional Reserve banking commentary 1 ✓ Check-ins19:13
FRB commentary 2: Deposit insurance ✓ Check-ins17:19
FRB commentary 3: Big picture ✓ Check-ins21:27
LIBOR ✓ Check-ins3:37
Quantitative easing
Fed open market operations ✓ Check-ins4:37
Quantitative easing ✓ Check-ins4:15
More on quantitative easing (and credit easing) ✓ Check-ins9:15
Open market operations and quantitative easing overview ✓ Check-ins3:11
Another quantitative easing video ✓ Check-ins2:47
US and Japanese quantitative easing ✓ Check-ins3:15
2008 bank bailout
Bailout 1: Liquidity vs. solvency ✓ Check-ins11:26
Bailout 2: Book value ✓ Check-ins10:52
Bailout 3: Book value vs. market value ✓ Check-ins10:32
Bailout 4: Mark-to-model vs. mark-to-market ✓ Check-ins11:24
Bailout 5: Paying off the debt ✓ Check-ins10:51
Bailout 6: Getting an equity infusion ✓ Check-ins12:02
Bailout 7: Bank goes into bankruptcy ✓ Check-ins10:25
Bailout 8: Systemic risk ✓ Check-ins11:52
Bailout 9: Paulson's plan ✓ Check-ins11:05
Bailout 10: Moral hazard ✓ Check-ins12:07
Bailout 11: Why these CDOs could be worth nothing ✓ Check-ins10:44
Bailout 12: Lone Star transaction ✓ Check-ins10:28
Bailout 13: Does the bailout have a chance of working? ✓ Check-ins10:59
Bailout 14: Possible solution ✓ Check-ins12:22
Bailout 15: More on the solution ✓ Check-ins10:09
CNN: Understanding the crisis ✓ Check-ins14:36
Geithner plan
Foreign exchange and trade
Currency exchange introduction ✓ Check-ins12:04
Currency effect on trade ✓ Check-ins14:20
Currency effect on trade review ✓ Check-ins10:06
Pegging the yuan ✓ Check-ins6:52
Chinese Central Bank buying treasuries ✓ Check-ins12:10
American-Chinese debt loop ✓ Check-ins15:27
Debt loops rationale and effects ✓ Check-ins12:24
China keeps peg but diversifies holdings ✓ Check-ins4:16
Carry trade basics ✓ Check-ins4:03
Chinese currency and U.S. debt
Floating exchange resolving trade imbalance ✓ Check-ins4:06
China pegs to dollar to keep trade imbalance ✓ Check-ins3:01
China buys US bonds ✓ Check-ins2:51
Review of China US currency situation ✓ Check-ins2:36
Data on Chinese M1 increase in 2010 ✓ Check-ins3:12
Data on Chinese foreign assets increase in 2010 ✓ Check-ins3:41
Data on Chinese US balance of payments ✓ Check-ins4:17
Chinese inflation ✓ Check-ins3:22
Floating exchange effect on China ✓ Check-ins3:26
Floating exchange effect on US ✓ Check-ins4:16
2011-2012 Greek debt crisis
Bitcoin
Bitcoin: What is it? ✓ Check-ins9:08
Bitcoin: Overview ✓ Check-ins11:02
Bitcoin: Cryptographic hash functions ✓ Check-ins10:14
Bitcoin: Digital signatures ✓ Check-ins9:48
Bitcoin: Transaction records ✓ Check-ins11:32
Bitcoin: Proof of work ✓ Check-ins10:32
Bitcoin: Transaction block chains ✓ Check-ins11:25
Bitcoin: The money supply ✓ Check-ins12:14
Bitcoin: The security of transaction block chains ✓ Check-ins15:16
Unit 9: Options, swaps, futures, MBSs, CDOs, and other derivatives
Put and call options
American call options ✓ Check-ins3:33
Basic shorting ✓ Check-ins3:29
American put options ✓ Check-ins2:56
Call option as leverage ✓ Check-ins3:04
Put vs. short and leverage ✓ Check-ins3:10
Call payoff diagram ✓ Check-ins3:22
Put payoff diagram ✓ Check-ins3:24
Put as insurance ✓ Check-ins3:48
Put-call parity ✓ Check-ins3:29
Long straddle ✓ Check-ins3:53
Put writer payoff diagrams ✓ Check-ins4:07
Call writer payoff diagram ✓ Check-ins3:08
Arbitrage basics ✓ Check-ins2:51
Put-call parity arbitrage I ✓ Check-ins3:56
Put-call parity arbitrage II ✓ Check-ins3:54
Put-call parity clarification ✓ Check-ins2:04
Actual option quotes ✓ Check-ins3:30
Option expiration and price ✓ Check-ins3:27
Forward and futures contracts
Forward contract introduction ✓ Check-ins3:11
Futures introduction ✓ Check-ins3:29
Motivation for the futures exchange ✓ Check-ins2:41
Futures margin mechanics ✓ Check-ins3:39
Verifying hedge with futures margin mechanics ✓ Check-ins3:48
Futures and forward curves ✓ Check-ins3:19
Contango from trader perspective ✓ Check-ins4:07
Severe contango generally bearish ✓ Check-ins2:28
Backwardation bullish or bearish ✓ Check-ins3:26
Futures curves II ✓ Check-ins3:51
Contango ✓ Check-ins4:11
Backwardation ✓ Check-ins3:57
Contango and backwardation review ✓ Check-ins3:44
Upper bound on forward settlement price ✓ Check-ins4:19
Lower bound on forward settlement price ✓ Check-ins4:13
Arbitraging futures contract ✓ Check-ins4:07
Arbitraging futures contracts II ✓ Check-ins4:01
Futures fair value in the pre-market ✓ Check-ins3:09
Interpreting futures fair value in the premarket ✓ Check-ins3:38
Mortgage-backed securities
Collateralized debt obligations
Credit default swaps
Interest rate swaps
Unit 10: Current economics
Unemployment
Housing price conundrum
Credit crisis
The housing price conundrum ✓ Check-ins9:21
Housing price conundrum (part 2) ✓ Check-ins8:54
Housing price conundrum (part 3) ✓ Check-ins9:48
Housing conundrum (part 4) ✓ Check-ins6:53
Mortgage-backed securities I ✓ Check-ins7:56
Mortgage-backed securities II ✓ Check-ins9:36
Mortgage-backed securities III ✓ Check-ins9:19
Collateralized debt obligation (CDO) ✓ Check-ins9:44
Credit default swaps ✓ Check-ins10:57
Credit default swaps 2 ✓ Check-ins12:04- Wealth destruction 1 ✓ Check-ins10:30
- Wealth destruction 2 ✓ Check-ins10:40
Paulson bailout
- CNN: Understanding the crisis ✓ Check-ins14:36
- Bailout 1: Liquidity vs. solvency ✓ Check-ins11:26
- Bailout 2: Book value ✓ Check-ins10:52
- Bailout 3: Book value vs. market value ✓ Check-ins10:32
- Bailout 4: Mark-to-model vs. mark-to-market ✓ Check-ins11:24
- Bailout 5: Paying off the debt ✓ Check-ins10:51
- Bailout 6: Getting an equity infusion ✓ Check-ins12:02
- Bailout 7: Bank goes into bankruptcy ✓ Check-ins10:25
- Bailout 8: Systemic risk ✓ Check-ins11:52
- Bailout 9: Paulson's plan ✓ Check-ins11:05
- Bailout 10: Moral hazard ✓ Check-ins12:07
- Bailout 11: Why these CDOs could be worth nothing ✓ Check-ins10:44
- Bailout 12: Lone Star transaction ✓ Check-ins10:28
- Bailout 13: Does the bailout have a chance of working? ✓ Check-ins10:59
- Bailout 14: Possible solution ✓ Check-ins12:22
- Bailout 15: More on the solution ✓ Check-ins10:09
European Union
Brexit and European Union primer ✓ Check-ins9:34
United Kingdom vs Great Britain vs England primer ✓ Check-ins2:48
Greek debt recession and austerity (part 1) ✓ Check-ins7:00
Greek financial crisis (part 2) ✓ Check-ins10:36
How and why Greece would leave the Euro (part 3) ✓ Check-ins8:21
Why Europe is worried about Greece ✓ Check-ins8:09
Learn this with a class
With a class on Puzzicle this course runs as a timetable of live study parties: your batch watches together and answers the check-ins, sometimes with a teacher leading.
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