Об этом курсе: In this course, you will dive into the concepts of rationality and irrationality and understand how they impact our investment decisions and what the consequences can be at the market level. You will first explore the different biases that we, as humans, are subjected to when facing investment decisions and how they may impact the outcomes of these decisions. Moreover, you will see how emotions and ethical concerns such as honesty and trust influence market participants. When they are considered as a group rather than individually, you will discover how rationality and irrationality can drive asset prices to and away from their fair value. Finally, you will be presented with different portfolio construction methodologies and investment styles that make up the landscape of today's portfolio management industry. At key points throughout the course, you will benefit from the practical knowledge of experts from our corporate partner, UBS, in how to build and manage clients' portfolios.
Автор: Университет Женевы
Преподаватели: University of Geneva- Tony Berrada, SFI Associate Professor of Finance
Geneva Finance Research Institute
Преподаватели: University of Geneva- Jonas Demaurex, Teaching Assistant
Geneva Finance Research Institute
Преподаватели: University of Geneva- Rajna Gibson Brandon, SFI Senior Chaired Professor of Finance and Managing Director of the GFRI
Geneva Finance Research Institute
Преподаватели: University of Geneva- Michel Girardin, Lecturer in Macro-Finance - Project Leader for the "Investment Management" specialization
Geneva Finance Research Institute
Преподаватели: University of Geneva- Kerstin Preuschoff, Associate Professor of Neurofinance and Neuroeconomics
Geneva Finance Research Institute
Преподаватели: University of Geneva- Olivier Scaillet, SFI Senior Chaired Professor of Finance and Vice-dean (research) at GSEM
Geneva Finance Research Institute
Преподаватели: University of Geneva- Philip Valta, SFI Assistant Professor of Finance
Geneva Finance Research Institute
| Основные сведения | Course 2 of 5 in the Investment Management Specialization |
| Язык | English |
| Как пройти курс | Чтобы пройти курс, выполните все оцениваемые задания. |
| Оценки пользователей |
Программа курса
НЕДЕЛЯ 1
General Introduction and Key Concepts
In this introductory week, we will start by illustrating how emotions can hinder sensible investment decisions. You will then have the opportunity to check if you master the concepts of the first course that are important for this second course. Finally, we will lay the ground for next week’s content by looking at rational decision making.
7 видео, 2 материалов для самостоятельного изучения, 2 practice quizzes
- Видео: Why you should choose this course
- Reading: Course syllabus
- Видео: An example: buying is easy, but when is it a good time to sell? - Buying
- Видео: An example: buying is easy, but when is it a good time to sell? - Holding
- Видео: An example: buying is easy, but when is it a good time to sell? - Selling
- Discussion Prompt: What about you?
- Видео: The key things you need to know to define your investment profile - UBS guest speaker
- Practice Quiz: Practice quiz on the relevant content of Course 1 (Understanding Financial Markets)
- Reading: Glossary
- Видео: What you will learn in this Module
- Practice Quiz: Guess 2/3 of the average
- Видео: Rational decision making
Оцениваемый: Graded quiz on the content of Week 1
НЕДЕЛЯ 2
How Individuals Make Financial Decisions
The focus of this second week is on you, the investor: what are the reasons you participate in financial markets? How do you make investment decisions? What can go wrong in your decision process and what are the consequences? What can you do about it? To answer these questions, we will talk about cognitive biases, emotions and moral values and their respective link with investment decisions.
15 видео
- Видео: How our brain may misinterpret information
- Видео: The basic steps in investment
- Видео: Biases when choosing which assets to look at
- Видео: Biases when processing financial information
- Видео: Biases when rebalancing you portfolio
- Видео: Biases when evaluating performance
- Видео: Wrap up
- Видео: How our emotions impact our investment decisions
- Видео: Why we trade
- Видео: What can we learn from this?
- Видео: The role of media in financial markets
- Видео: Honesty and trust in investment decision making - Study design
- Видео: Honesty and trust in investment decision making - Study results
- Discussion Prompt: How would you enforce trust?
- Видео: Impact Investing - UBS guest speaker
- Видео: Are emotions always a bad thing in investing?
Оцениваемый: Cognitive biases
Оцениваемый: Graded quiz on the content of Week 2
НЕДЕЛЯ 3
Market Efficiency, Bubbles & Crises
In this third week, we will have a look at investors’ behavior as a group. How does it impact asset prices? How do these prices reflect available information? What does it imply for the profitability of some trading strategies? What can go wrong in this price formation process and how can (and did) it cause financial bubbles and crises? This week also features as special guest: Prof. Jean-Pierre Danthine, former vice-chairman of the Swiss National Bank, who will offer insights into some of these issues.
18 видео
- Видео: What you will learn in this Module
- Видео: Defining market efficiency
- Видео: Testing for the efficient market hypothesis: Weak form
- Видео: Testing for the efficient market hypothesis: Semi strong form
- Видео: Testing for the efficient market hypothesis: Strong form
- Discussion Prompt: Do you think markets are efficient?
- Видео: Overview of different origins of financial crises
- Видео: A first example for the development and fallout of a real crisis: the VW scandal
- Видео: A second example for the development and fallout of a real crisis: oil shocks - 1970s
- Видео: A second example for the development and fallout of a real crisis: oil shocks - 2000s
- Видео: A first example of an anticipation crisis: 1987 - The "Fed Model"
- Видео: A first example of an anticipation crisis: 1987 - The crash
- Видео: A second example of an anticipation crisis: 2000
- Видео: The perfect storm: the global financial crisis - Global imbalances
- Видео: The perfect storm: the global financial crisis - Policy errors
- Видео: The perfect storm: the global financial crisis - Lax regulation
- Видео: How do central banks deal with the issue of financial (in)stability? - Course 1 recap
- Видео: How do central banks deal with the issue of financial (in)stability? - Asset prices
- Видео: An interview with Prof. Jean-Pierre Danthine
Оцениваемый: Graded quiz on market efficiency
Оцениваемый: Graded quiz on the origins of financial bubbles and crises
НЕДЕЛЯ 4
Portfolio Construction and Investment Styles
In this final week, we will look at two main portfolio construction methodologies: top-down and bottom-up. We will see how they differ but also how they can be combined. In the second lesson, we will review some important investment styles that are commonly used in the portfolio management industry. In this final lesson, you will also be given the opportunity to experiment with different trading strategies and compare your results with fellow learners.
11 видео
- Видео: What you will learn in this Module
- Видео: Building a portfolio the top-down way – Definition
- Видео: Building a portfolio the top-down way – Use
- Видео: Building a portfolio the top-down way – Importance
- Видео: Portfolio construction via bottom-up - UBS guest speaker
- Видео: Value versus growth
- Видео: Fundamental or quantitative driven style? - UBS guest speaker
- Видео: Contrarian versus momentum - Momentum
- Discussion Prompt: Give it a try: Momentum
- Видео: Contrarian versus momentum - Contrarian
- Discussion Prompt: Give it a try: Contrarian
- Видео: Core & satellite
- Видео: Thematic investing - UBS guest speaker
Оцениваемый: Graded quiz on portfolio construction
Оцениваемый: Graded quiz on investment styles
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Авторы
Университет Женевы
Founded in 1559, the University of Geneva (UNIGE) is one of Europe's leading universities. Devoted to research, education and dialogue, the UNIGE shares the international calling of its host city, Geneva, a centre of international and multicultural activities with a venerable cosmopolitan tradition.
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Рейтинги и отзывы
Excellent course with well-prepared professors.
A really well put together course which opened my eyes on a variety of themes on this subject matter!
Great ! Thank You !
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FO
The course was very easy to follow and the instructors are fantastic!