JAVIER ESTRADA Professor of Finance at IESE Business School, Spain. His areas of specialization are portfolio management, wealth management, investments, equity markets, and emerging markets. He is also a wealth management advisor at Sports Global Consulting, where he advises professional athletes on their investments.

• Tool 1: Returns Tool 2: Mean Returns Tool 3: Risk: Standard Deviation and Beta Tool 4: Diversification and Correlation Tool 5: Required Returns and the CAPM Tool 6: Downside risk Tool 7: Risk-Adjusted Returns Tool 8: NPV and IRR Tool 9: Multiples Tool 10: Bonds Appendix: Some Useful Excel Commands