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How the Stock Market Works

Discover the opportunities and risks of stock investing with a course that explains why stocks rise and fall, and how you can invest without losing sleep.
How the Stock Market Works is rated 4.7 out of 5 by 61.
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Rated 5 out of 5 by from Great for Novices I realized right away that this course is for complete newbies to stock investing but there's always something to learn. There's some good information about index & mutual funds as well as ETFs. And in order to give it a fair hearing I went through the whole course. Professor DeGennaro keeps it down to earth and clear. The presentation is mildly amusing and non-threatening.
Date published: 2022-11-15
Rated 3 out of 5 by from Very basic, leaving out many aspects such as how trading works. Also leaving out premarket and postmarket trading is like teaching how cars work in a parking lot. The FED is really off topic but still very basic there, like leaving out what really happens when we print 400B to pay student loans.
Date published: 2022-08-27
Rated 4 out of 5 by from Good for a Beginning Investor This course addresses the fundamentals of investing funds in the stock market. The target audience seems to be people who are considering how to begin investing in the market. Dr. DeGennaro is very good at tailoring the course to the beginner. He includes such topics as types of stocks and mutual funds, volatility and risk, the likelihood of beating the market (here he largely follows Malkiel’s Random Walk Down Wall Street), and effects of taxes and fees. However, he largely avoids technical jargon and equations. (On the other hand, that might be a weakness. There are some classes where the material is best learned by doing the homework and this might be one of them.) Unfortunately, there is so much content and terminology involved that, no matter how good Dr. DeGennaro is, it can still leave a beginner overwhelmed. I recommend reading the course guide during the lectures (something I normally find unnecessary for other courses). Further, the beginning investor might be well served by listening to the course multiple times over several months. The course guide is in bullet format, but the bullets are really paragraphs so each chapter is essentially a narrative that is easy to follow. There are important graphs and other visual aids, which makes it all the more important for a beginner follow along in the course guide while listening to the lecture. The course guide contains a good bibliography (I like that Dr. DeGennaro includes a short summary of how each book or article can help you) but it does not contain a glossary, which would have been helpful for a beginning investor. I used the audio version. That worked but there may have been some advantages to visual aids. The course was published in 2014. Many economics courses do not age well because the predictions they contain generally prove to be inaccurate. However, this course does age well. Be aware, however, that some of the laws and regulations might have changed.
Date published: 2022-08-05
Rated 4 out of 5 by from Good introductory course! This course presents a thorough, balanced introduction to the stock market and investing, and I highly recommend it to those who are new or relatively new to these topics. The course is pitched simplistically--Prof. DeGennaro frequently sounds like he is speaking to a classroom of seventh graders--but he is knowledgeable about this subject matter and has insights that are interesting even for the more experienced investor. Not a five-star course by my lights but a solid effort nonetheless.
Date published: 2022-06-30
Rated 5 out of 5 by from EXCELLENT COURSE! I learned so much about how the stock market works by watching this course. I recommend it to anyone interested in the subject.
Date published: 2022-02-18
Rated 5 out of 5 by from How the Stocks Market works I found the program easy to follow and very well organized. I look forward in repeating it so I can be sure I can pick all the information shared.
Date published: 2022-01-24
Rated 5 out of 5 by from Great Overview on the Stock Market I purchased the course to gain a better understanding of the stock market. I'd been "familiar" with many of pieces and terms but didn't feel I had a comprehensive comprehension that could hold up to much scrutiny. The course was excellent. The presenter did a sensational job and the scripting was perfect. The breadth of the class was sufficient to give one a familiarity but not too detailed which would have bogged down the pace. I should mention that this is stock market 101, there's nothing high level here. The lecturer provides many references if one wants more details. The stock market is the main retirement savings vehicle for most Americans. The course is probably the best financial investment you can make. One side comment that was made will absolutely save me 5% on one investment. The course isn't designed to tell you where to invest but more about what the landscape of stock investing looks like. The lecture format beats reading a book by miles.
Date published: 2022-01-03
Rated 5 out of 5 by from Thorough Presentation The course covered a broad range of topics, some of which could be complex but the Professor presented them in an understandable way. Informative presentation and easy to follow. I found it served as a refresher for some topics and an education on others. Very happy I took this course.
Date published: 2021-09-23
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Overview

Learn how to potentially increase your wealth and avoid making expensive mistakes with How the Stock Market Works. Professor Ramon P. DeGennaro, an award-winning professor in banking and finance at The University of Tennessee, Knoxville, leads you through 18 detailed lectures that explain the stock market from the inside, introducing you to the factors that make company stocks rise and fall and the information you need to grasp the market's role in the world economy, evaluate the relative soundness of stocks, and understand the stock investment options available to you.

About

Ramon P. DeGennaro

I like teaching things that will let people solve problems for the next 50 years, and if something can be automated, then I don't want to teach it.

INSTITUTION

The University of Tennessee, Knoxville

Dr. Ramon P. DeGennaro is the CBA Professor in Banking and Finance at The University of Tennessee, Knoxville. In addition, he consults in the areas of business valuation, investments, and financial management and is a Luminary Member of the Angel Capital Group. He also served as a Visiting Scholar at the Federal Reserve Banks of Cleveland and Atlanta and for the American Institute for Economic Research. Professor DeGennaro holds a Ph.D. in Finance from The Ohio State University. At The University of Tennessee, Professor DeGennaro has been nominated for the Allen H. Keally Outstanding Teacher Award, the John B. Ross Outstanding Teaching Award (three times), and the College of Business Outstanding Teaching Award. Professor DeGennaro has presented original research at dozens of professional conferences, and he is the recipient of more than 50 research and professional development grants. His current research involves investments, financial markets, and entrepreneurship. He has published more than 40 refereed articles on investments, financial market volatility, small-firm finance, the term structure of interest rates, financial institutions, and prediction markets. He also has written research reports, book chapters, book reviews, and several Federal Reserve publications.

By This Professor

How the Stock Market Works
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International Economic Institutions: Globalism vs. Nationalism
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How the Stock Market Works

Trailer

Is Investing in Your Blood?

01: Is Investing in Your Blood?

Begin the course by exploring the difference between beating the market and investing in it. One carries very high risk, while the other is a much safer strategy. Learn about the human propensity to look for patterns in everything-but are stock returns predictable?

33 min
Understanding Fundamental Securities

02: Understanding Fundamental Securities

Learn how stock is an outgrowth of simple business relationships. Use an ingenious analogy to compare two major types of securities: stocks and bonds. Both are ways to share the assets that a corporation owns and the cash that it produces-but with crucial differences.

31 min
What Is the Stock Market?

03: What Is the Stock Market?

The stock market may be high-tech and getting more sophisticated every year, but it is essentially like markets you already know, such as grocery stores and car dealerships. Armed with this insight, delve into the special features of stock markets and how they work.

29 min
Historical Returns and Volatility

04: Historical Returns and Volatility

Explore the relationship between the risk of investing in stocks and the return you can expect from owning them. Survey the average return on a broad portfolio of stocks held over many decades. Next, focus on the short-term volatility that makes many people understandably nervous.

31 min
Risk, Expected Return, and Diversification

05: Risk, Expected Return, and Diversification

Address the investment advisor's favorite question: Do you want to eat well or do you want to sleep well? Analyze your risk tolerance in simple role-playing games. Then investigate strategies for limiting risk and improving your odds of making money in the long run.

30 min
What Determines How Much You'll Make

06: What Determines How Much You'll Make

Learn the most important formula in investing-the simple equation for compounding earnings. Then focus on the three variables that determine how much money you'll have at the end of an investment. Most people worry too much about the one variable that they can't reliably control.

29 min
The Efficient Market Hypothesis

07: The Efficient Market Hypothesis

Delve into evidence that beating the market is hard even for seasoned professionals. According to the efficient market hypothesis, stock prices are almost always fair, with very few bargains available for sharp-eyed investors. Examine different scenarios and evidence that support this view.

29 min
Choosing a Brokerage Firm

08: Choosing a Brokerage Firm

Walk through the steps for choosing a brokerage firm, which can be as simple as going online and filling out an application or as involved as interviewing multiple firms to find the right fit. Analyze your needs, and dispel misconceptions that you may have about brokers.

30 min
Trading and Investing Basics

09: Trading and Investing Basics

Explore how stock trades are made. Then look at ways you can place orders tailor-made to your needs. For example, you can avoid the emotion of spur-of-the moment decisions by specifying in advance when to buy or sell a stock. Also learn the mechanics of short selling.

31 min
Trading Strategies and Common Mistakes

10: Trading Strategies and Common Mistakes

Review a range of useful trading strategies, and identify some common trading mistakes, such as confirmation bias, overconfidence, and loss aversion. Finally, survey the fascinating world of options, looking at cases when it makes sense to use them.

30 min
The Language of Financial Reporting

11: The Language of Financial Reporting

Dispel the mystery surrounding financial reporting by analyzing three important documents: the corporate balance sheet, income statement, and cash flow statement. You can think of these as analogous to your personal mortgage application, tax return, and checking account statement.

30 min
Corporate Analysis and Valuation

12: Corporate Analysis and Valuation

Dig deeper into corporate finance by looking at different ways to value a corporation. Study the price-earnings ratio, book value, liquidation value, and other measures, evaluating their strengths and weaknesses. In the process, learn terms that are widely used by financial analysts in the media.

33 min
Mutual Funds and Other Investment Companies

13: Mutual Funds and Other Investment Companies

Probe the tremendous growth of mutual funds, one of the most successful examples of financial innovation in history. Examine managed versus index funds, and compare mutual funds with exchange-traded funds (ETFs).

32 min
Minimizing Transaction Costs and Taxes

14: Minimizing Transaction Costs and Taxes

Consider various strategies for minimizing taxes and transactions costs, thereby increasing the rate of return on your investments. Discover the good sense behind two investing mantras: (1) the more you trade, the worse you do; (2) sell your losers, and let your winners ride.

31 min
Tax Shelters-Roths, IRAs, and 401(k) Plans

15: Tax Shelters-Roths, IRAs, and 401(k) Plans

Focus on tax shelters that work for everybody, not just high earners. Traditional IRAs, Roth IRAs, and 401(k) plans offer tax advantages for even the most casual of investors. Review the requirements and advantages of each type of account.

33 min
Making Sense of IPOs

16: Making Sense of IPOs

Initial public offerings, or IPOs, are some of the most glamorous and lucrative events in the stock market. What are they? How do they work? And what can go wrong? Learn what investment banks do to set the share price for an IPO, and then see how unpredictable market forces take over.

31 min
The Stock Market and the Macro Economy

17: The Stock Market and the Macro Economy

Explore national and global economic forces that affect stock prices. Then look at what you should do in a recession. Is there a way to avoid losses? Also examine the purpose and activities of the Federal Reserve System, asking if you need to care about its decisions.

31 min
Investing with Confidence

18: Investing with Confidence

In the last lecture, learn how to analyze your current financial position with the goal of deciding how much to invest and how to allocate your assets in a well-diversified portfolio. Now that you know how the stock market works, it's time to make it work for you!

31 min