This page lists all 32 sessions with topic, book chapter, slide source, and assessment milestones. For full lecture notes on each session, click the session link.
Architecture Summary
Sessions 1–24: Common core (all students attend identical sessions)Sessions 25–31: Split track (Track 1 = applied workshops, Track 2 = mathematical derivations)Session 32: Capstone — project presentations (both tracks present)
Unit Structure
1: Why DCF Fails 1–5
Diagnosis, illusion, term structure
Ch. 1–3
2: Measurement & Theory 6–10
IRR/PME, correct theory, midterm
Ch. 4–5
3: Decision & Application 11–18
Exit timing, portfolio, regulation, implementation
Ch. 6–9
4: Math Bridges 19–24
OU, HJB, MFG, GE, Jensen, Pigouvian (intuition)
Ch. 10–20 (selected)
5: Split Track 25–31
Applied workshops (T1) / Math derivations (T2)
Ch. 6–20
Capstone 32
Project presentations
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Full 32-Session Schedule
Unit 1: Why Private Market Valuation Is Broken (Sessions 1–5)
1 Course intro · Why DCF fails · Valuation hierarchy preview
Ch. 1
New (60%) + reuse from Class 9 (40%)
PS1 drops
2 Three structural failures · LA-CAPM
Ch. 1.5–1.7
New + reuse from Class 9
3 The liquidity illusion · Secondary market evidence
Ch. 2
New + reuse from Class 21–22
4 OU process for liquidity (intuition only)
Ch. 2.8–2.9
Adapt Class 5 (strip derivations)
5 Term structure of private capital returns
Ch. 3
All new
Track declaration deadline
Unit 2: Measurement and Theory (Sessions 6–10)
6 IRR: definition, limitations, biases
Ch. 4.2–4.4
All new
7 PME: correct and incorrect implementations · LA-IRR · LA-PME
Ch. 4.5–4.9
All new
8 What a correct theory must deliver · 5-result preview
Ch. 5
All new
PS1 due
9 Midterm review · Q&A · synthesis of Sessions 1–8
Ch. 1–5
All new (review slides)
10 MIDTERM EXAM Ch. 1–5
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Midterm
Unit 3: Decision and Application (Sessions 11–18)
11 Exit timing — the trapped investor problem
Ch. 6.1–6.4
Reuse Class 13 (PE decomp) + new
12 The exit boundary L*(t) — numerical examples, intuition
Ch. 6.5–6.7
Reuse Class 13 + new
13 Liquidity traps · Historical performance of GE-LAV exit rule
Ch. 6.7–6.10
Reuse Class 13 + new
14 Portfolio construction · Liquidity hedge demand
Ch. 7.1–7.3
Reuse Class 24 (Portfolio Construction)
Project proposal due
15 Pacing · Tactical allocation · Stress scenarios
Ch. 7.4–7.6
Reuse Class 24 + new
16 Regulatory implications: Solvency II, AIFMD, FSB · Crisis dynamics
Ch. 8
Reuse Class 19 (GFC) + new
PS2 due
17 GE-LAV platform — architecture, data, calibration workflow
Ch. 9.1–9.5
Reuse Class 10, 12, 25
18 Platform demo: live walkthrough · validation against stress episodes
Ch. 9.6–9.10
Reuse Class 10, 12, 25 + new
Unit 4: Math Intuition Bridges (Sessions 19–24)
These sessions teach the conceptual content of Part 2 of the book — what the math means and does , without the full derivations. Track 2 students will revisit this content with full proofs in Sessions 25–31.
19 Brownian motion, Itô, the OU process (concepts only)
Ch. 10, 12
All new (intuition-stripped from Classes 2–5)
20 Stochastic control, HJB (concepts) — what optimal stopping means
Ch. 11
All new (intuition from Class 7)
21 Mean-field games — what collective interaction does to pricing
Ch. 13
All new (intuition from Class 8)
22 Fokker-Planck, master equation — distributions over time
Ch. 14, 15
All new (intuition from Class 6)
23 The LAV operator · GE equilibrium · market clearing
Ch. 16, 17
New + Class 17 (market clearing)
24 Jensen bias · Pigouvian tax · welfare gap (results, not proofs)
Ch. 18, 19
New + Class 11/16/18/20 (intuition extracts)
PS3 due
Unit 5: Split Track (Sessions 25–31)
Track 1 (Practitioner) and Track 2 (Researcher) diverge. Both tracks meet at the same scheduled time but in different rooms (or different breakout rooms in synchronous online format).
25 PE buyout case workshop — apply GE-LAV to a Bain Capital fund. Reuse Class 21Full HJB derivation — stochastic control, smooth pasting, optimal stopping proofs. Reuse Classes 7 & 14
26 VC + secondaries valuation lab — apply to a real VC secondary. Reuse Class 27 (Multi-Asset)McKean-Vlasov MFG proofs — propagation of chaos, fixed-point existence, stability conditions. Reuse Class 8 & 15
27 Infrastructure case — the 57% illusion (Class 22). Reuse Class 22Fokker-Planck & master equation — well-posedness, Wasserstein space. Reuse Class 6
28 Private credit case — spread decomposition (Class 23). Reuse Class 23GE equilibrium existence — market clearing proof, Schauder fixed point. Reuse Class 17
29 Digital assets / climate risk hybrid case — GE-LAV applied to crypto and 50-year infra. Reuse Classes 30, 31Jensen bias proof + Pigouvian welfare derivation — full theorems. Reuse Classes 11, 18, 20
30 Project draft workshop — peer review, feedback, refinementValuation hierarchy proof + project draft workshop — DCF ⊊ LAV ⊊ GE-LAV strict nesting proof
31 Future research · open practitioner questions — Class 26 + Class 28-29 hybridFuture research · open theoretical questions — Class 26 + neural SDE (Class 29) for advanced students
Capstone (Session 32)
32 Project presentations — both tracks, 20 min presentation + 5 min Q&A eachProject final due
Visual Timeline
gantt
title GE-LAV Course Timeline (16 weeks, 32 sessions)
dateFormat YYYY-MM-DD
axisFormat %b %d
section Unit 1
Sessions 1-5 (Why DCF Fails) :u1, 2027-01-19, 2w
section Unit 2
Sessions 6-9 (Measurement) :u2a, 2027-02-02, 11d
Midterm (Session 10) :milestone, m1, 2027-02-12, 0d
section Unit 3
Sessions 11-18 (Decision & App) :u3, 2027-02-16, 4w
Project Proposal Due :milestone, m2, 2027-03-05, 0d
PS2 Due :milestone, m3, 2027-03-09, 0d
section Unit 4
Sessions 19-24 (Math Bridges) :u4, 2027-03-16, 3w
PS3 Due :milestone, m4, 2027-04-06, 0d
section Unit 5
Sessions 25-31 (Split Track) :u5, 2027-04-08, 4w
Project Draft Due :milestone, m5, 2027-04-29, 0d
PS4 Due :milestone, m6, 2027-05-04, 0d
section Capstone
Session 32 (Presentations) :u6, 2027-05-06, 1d
Dates above are illustrative; actual dates will be set per the university’s Spring 2027 academic calendar.
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