1. Advanced Devices Inc., is a tech firm established 10 years ago. It has a successful history in the past 10 years and accumulated a sizeable amount of cash reserve which enables the firm to engage in any new project without much need for additional funds. In that case, does it mean that the stock market is not important to the firm at all ? If you are the CFO of this firm, what are the pros and cons of having access to the stock market ?

2. What are the major differences between top-down and bottom-up investment style ? What are their pros and cons ? Which one seems to be more relevant in this course ?

3. Besides DJIA and S&P 500, find one example of Price-Weighted Index and one for Market-Value-Weighted Index.