Portfolio Investment Management Classes Offered by Dow Investment Group

Investment portfolio management classes

We are pleased to offer the following course conducted by Michael Dow:

Managing a
Common Stock Portfolio

"A fast-paced academically-oriented course covering wealth management tools and techniques."

This course is designed to teach investors terminology and concepts of portfolio management and financial analysis. Our primary focus will be on the direct ownership of common stocks, but we will also address bonds and mutual funds. Please see our detailed course description below.

Fall 2007 Schedule To Be Announced

LOCATION	DATES	TIMES
Falmouth Our offices, 358 Route One	TBA	7-9 PM
Rockport Samoset Hotel & Resort	TBA	7-9 PM
Portsmouth, NH Best Western (at turning cir)	TBA	7-9 PM

In addition, we offer this course as a private seminar. If your organization (investment club, business, etc.) is interested, please give us a call. Also, if you know of others who might like to attend, we hope you will pass this invitation along to them.

Here are some comments from former attendees:

"I would spend far more than the cost of this course in the bookstore trying to learn what was taught."	"Mike is concise, efficient, and to the point."
"Well-Presented; Comprehensive & Valuable."	"I learned more about investing in six hours than in four years of college."
"I wish I had this course 25 years ago..."	"Bravo. It far exceeded my expectations."

To Register

Call 207-878-1574, 800-578-9018, or email michael.dow@dows.com.

This seminar is three 2-hour sessions and the cost is $30, which includes course materials. Please make checks payable to Dow Investment Group, LLC.

Course Description

This course is designed to acquaint the common stock investor with terminology and concepts associated with portfolio management and financial statement analysis. The course addresses the basic process of deciding when to buy, hold, or sell a common stock. Topics covered include theories and strategies of investing, such as the efficient market hypothesis, market timing, diversification, investing for value vs. growth, and investing for total return vs. dividends. Also covered are the historical rates of return for various asset classes, and an in-depth look at stock splits. Particular emphasis is put on learning how to read and interpret statistical data found on Value Line reports. Below is the general outline of the course:

Course Outline

1st Session: Portfolio Theory & Market Sectors

Efficient Market Hypothesis vs. Market Timing
Diversification: Theory and Application
Investing for Dividends vs. Total Return
Historical Rates of Return of various asset classes
Market Sectors: (e.g.: Blue Chips, Growth Stocks, Cyclicals, ADR's, IPO's, etc.)

2nd Session: Resources & Financial Statement Analysis

Company Reports: Annual, Quarterly, 10-K, 10-Q, Proxy Statement, Prospectus
Rating Services: Value Line ("timeliness" Ratings) and Standard & Poor's (Earnings/Dividend Rankings)
Balance Sheets and Income Statements: Terminology and Ratios

3rd Session: Valuation & Company Analysis

Stock Splits
Valuation Techniques: Price-Earnings Ratio, Price-Sales Ratio, and Price-Book Ratio
Guided tour of a Value Line report and interpretation of the statistical data

Among the topics covered:

Market Timing	Historical Rates of Return	Financial Statement Analysis	Earnings Momentum
Efficient Market Hypothesis	Total Return vs. Current Return	Operating Income vs. Net Income	Value Investing
Technical vs. Fundamental Analysis	The "Blue Chip" Irony	Gross Margins	Nonsustainable Sources of Growth
The Random Walk Concept	American Depository Receipts	10-K and 10-Q Reports	Capital Structure
Market Risk vs. Specific Risk	Foreign Withholding Taxes	Proxy Statements and Prospectuses	Write-Offs
Risk vs. Volatility	Currency Exchange Risk	Value Line Ratings	Return On Capital and Equity
Beta and Standard Deviation	Initial Public Offerings (IPO's)	Standard & Poor's Ratings	Valuation Techniques
Diversification Guidelines	Hot Issues	Large Cap vs. Small Cap Stocks	Stock Splits