Eric Cheung – Wall Street Prep – Equities Markets Certification (EMC©)

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Equities Markets Certification (EMC©)

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Eric Cheung – Wall Street Prep – Equities Markets Certification (EMC©)

Eric Cheung - Wall Street Prep - Equities Markets Certification (EMC©)

About this Equities Markets Certification Program

While other Equities Markets courses add formulas and complexity to hide the lack of real-world experience, Wall Street Prep’s Equities Markets Certification was created by former sales and trading professionals focused on what interns, new hires, and early career analysts need to know on the job.

Designed following extensive discussion with hiring managers at major investment banks, we built our Equities Markets program around gaining the practical knowledge needed of growing markets such as ETFs, Delta One and Prime Brokerage.

Taught by Markets Professionals

Master how to use the Bloomberg terminal to analyze financial statements, find consensus EPS and monitor short interest.
A Comprehensive Program

Designed with input from the largest global investment banks on what Equities Markets salespeople and traders need to know.
Meaningful, Shareable Certification

Graduates will receive a blockchain-verified, shareable certification that can easily be added to LinkedIn and resumes.

What You Will Learn

Master the technical skills and concepts that Equities traders are expected to know on the trading floor
Learn how to chart, graph and analyze stocks, indices and futures on Bloomberg
Speak and understand the trader jargon
Analyze company financials using the Bloomberg Excel-Add In
Demystify the Buy-Side business model and learn how Asset Managers and Hedge Funds are paid and their economic drivers and priorities
Learn how ETF Traders profit from arbitrage opportunities
Compare funded investment options (Mutual Funds, ETFs) with Unfunded investment Options (Futures and Equity Swaps)
Discover how derivatives are traded, margined, and hedged
Understand how to “short a stock” and the Securities Lending process
Demystify Hedge Fund Trading strategies

Your Path to Certification

This course is career-focused. We begin with an overview of how a individual stocks are traded on an exchange. Then we analyze the drivers of a company’s public valuation using the Bloomberg Excel Add-In and the investor relations role; proceed to discuss equity indices and different approaches in the market to invest in these indices including asset managers, ETFs, futures and Delta One; and conclude with a discussion of securities lending and prime brokerage, analyzing how asset managers lend hedge funds the shares to short.

What’s Included

Cash Equities

Course 1 of the Equities Markets Certification (EMC©) program. Cash Equities are the fundamental building blocks of the Equity Markets. We begin with an overview of the Equities trading floor and mapping out the different roles and responsibilities. We then take a look at exchange trading, and discuss the different order types, trading conventions and the opening and closing auctions. Next we dive into the specific roles of sales trading and sales research. We conclude by discussing all the ways a sales-trader can trade large sizes without moving markets, including order routing, and using different trading venues.

Equity Valuation

Course 2 of the Equities Markets Certification (EMC©) program. Designed for Salespeople and Traders, this course provides an overview of equity valuation including the P/E ratio and EV/EBTIDA. We begin with an overview of valuation metrics and drivers of the income statement. We the discuss EPS and how we arrive at consensus EPS. After discussing the concepts, we see how salespeople, traders and investors use Bloomberg to analyze financial statements and run a DCF and comps analysis. We then explore the role of Investor Relations and company guidance on earnings. Finally, we discuss the Bloomberg Excel Add-in and analyze the impact of share buyback’s on Apple’s EPS.

Equity Indices, Asset Managers and ETFs

Course 3 of the Equities Markets Certification (EMC©) program. Equity Indices such as the S&P500 drive market sentiment. We begin by discussing the major equity indices and then dive into the detail of how they are constructed and calculated. Next, we explore Asset Managers and explore how they invest funds for both institutional and retail investors. We discuss different strategies, including active versus passive funds. We conclude by discussing ETFs, an investment vehicle that has grown significantly over the past decade. Unlike mutual funds, ETFs are traded by Investment Banks and we explore the creation and redemption mechanisms and how ETF Traders profit from arbitrage opportunities.

Equity Futures and Delta One

Course 4 of the Equities Markets Certification (EMC©) program. Most traders start their day by looking at Equity Futures. This course builds on the Equity Indices, Asset Managers and ETFs course which looked at funded investments. The Equity Futures and Delta One course focuses on derivatives and achieving the same exposure using unfunded investments. We begin with an overview of futures and discuss details of the S&P500 E-mini Futures. Next, we discuss clearing and margining which are specific to derivatives. After that we discuss futures valuation and the concept of fair value and the process of rolling futures. We conclude by analyzing equity swaps or total return swaps traded by a Delta One desk and discuss how a Delta One trader would trade and hedge their position.

Hedge Fund Strategies

Course 5 of the Equities Markets Certification (EMC©) program. This course demystifies Hedge Fund Strategies and how Hedge Fund Investors evaluate Hedge Funds. We begin by discussion traditional equity hedge funds and then discussing the strategies of growing quantitative hedge funds. Next, we discuss Macro, Relative Value and Credit Hedge funds, with many of these hedge funds using leverage to magnify returns on small dislocations in the market. After an overview of the strategies, we discuss how Investors evaluate Hedge Funds, and how preferences on strategies shift based on performance. We work through the metrics Hedge Fund Investors use to evaluate Hedge Funds including annualized returns, sharpe ratio and maximum drawdowns.

Securities Lending and Prime Brokerage

Course 6 of the Equities Markets Certification (EMC©) program. How do you short a stock? In this course, we discuss the process to short a stock and walk through an example of how a hedge fund would borrow shares an asset manager through a securities lender. We discuss the fee model and economics of borrowing shares through a securities lender. Next, we analyze short interest metrics on Bloomberg including how to use screeners for Short Interest. We conclude by discussing Prime Brokerage, and services offered to Hedge Funds that go beyond just Securities Lending but also include Custody and managing derivatives collateral.

ESG Investing, Green Bonds and Social Bonds

The last decade has seen exponential growth in ESG investing worldwide. Designed for those seeking to learn about the role of Sustainable Finance at an Investment Bank, this course explores exactly how this transformation happened and how the market formalized the structure and conventions for Green Bonds and Social Bonds. It discusses both from the issuer and investor perspective, why ESG, Green and Social Bonds have taken such a prominent role. It analyzes the structure and pricing of green and social bonds that the instructor has personally brought to market.

Equities Markets learners are eligible to earn Wall Street Prep’s globally recognized Fixed Income Markets Certification (EMC^©). The certification is earned by successfully completing the final exam from each of the program’s individual courses. These online assessments can be taken any time after enrollment in the program.

Course Features

Lectures 0
Quizzes 0
Duration 10 weeks
Skill level All levels
Language English
Students 121
Assessments Yes

Forex Trading

Eric Cheung – Wall Street Prep – Equities Markets Certification (EMC©)

Equities Markets Certification (EMC©)

Eric Cheung – Wall Street Prep – Equities Markets Certification (EMC©)