In this course, you will gain an understanding of the theory underlying optimal portfolio construction, the different ways portfolios are actually built in practice and how to measure and manage the risk of such portfolios.
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課程信息
68,592 次近期查看
學生職業成果
38%
完成這些課程後已開始新的職業生涯
37%
通過此課程獲得實實在在的工作福利
您將獲得的技能
Portfolio TheoriesRisk ManagementValue At Risk (VAR)Portfolio Optimization
學生職業成果
38%
完成這些課程後已開始新的職業生涯
37%
通過此課程獲得實實在在的工作福利
100% 在線
立即開始，按照自己的計劃學習。
第 3 門課程（共 5 門）
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完成時間大約為13 小時
建議：4 weeks of study, 1-3 hours/week
英語（English）
字幕：英語（English）
提供方
日内瓦大学
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.
教學大綱 - 您將從這門課程中學到什麼
完成時間為 1 小時
General Introduction and Key Concepts
In this introductory week, you will first be presented with a few mistakes you will no longer make after following this course. In order to avoid making these mistakes, you will start by gaining a foundation and understanding of the three main types of information we need in order to build optimal portfolios: expected returns, risk and dependence.
完成時間為 1 小時
6 個視頻 （總計 39 分鐘）, 2 個閱讀材料, 1 個測驗
6 個視頻
Some common mistakes you will no longer make after this course – Portfolio risk6分鐘
Some common mistakes you will no longer make after this course – Free lunch9分鐘
Distribution of returns - Graphical representation8分鐘
Distribution of returns - Numbers5分鐘
The risk-return trade-off - UBS guest speaker5分鐘
2 個閱讀材料
Course syllabus5分鐘
Glossary10分鐘
1 個練習
Graded quiz on the content of Week 110分鐘
完成時間為 2 小時
Modern Portfolio Theory and Beyond
The focus of this second week is on Modern Portfolio Theory. By understanding how imperfect correlations between asset returns can lead to superior risk-adjusted portfolio returns, we will soon be looking for ways to maximize the effect of diversification, which is at the heart of Modern Portfolio Theory. But we won’t stop there: we will also explore the implications of Modern Portfolio Theory on real-world investment decisions and whether or not these implications are followed by investors. Finally, we will see how Modern Portfolio Theory can be built upon to derive the most popular asset pricing model: the Capital Asset Pricing Model.
完成時間為 2 小時
14 個視頻 （總計 89 分鐘）
14 個視頻
The impact of correlation - Maximizing diversification6分鐘
Reaching the efficient frontier - UBS guest speaker4分鐘
The efficient frontier with a risk-free asset4分鐘
Expanding the asset universe - International diversification5分鐘
Expanding the asset universe - Country versus industry diversification4分鐘
Do investors diversify internationally? - UBS guest speaker3分鐘
The impact of constraints on optimal portfolios8分鐘
The pitfalls of Modern Portfolio Theory - Assumptions8分鐘
The pitfalls of Modern Portfolio Theory - Investors9分鐘
Two-fund separation - Individual decision4分鐘
Two-fund separation - Market level7分鐘
Capital market equilibrium - The Capital Market Line5分鐘
Capital market equilibrium - The Capital Asset Pricing Model9分鐘
1 個練習
Graded quiz on the content of Week 215分鐘
完成時間為 2 小時
Asset Allocation
This third week is dedicated to asset allocation. After a short introduction to investor profiling, we will delve into Strategic Asset Allocation (SAA). You will see how it relates to Modern Portfolio Theory and how it differs from Tactical Asset Allocation (TAA). We will look at how both asset allocations can be implemented separately but also in conjunction in order to build portfolios that fulfill investors’ needs and constraints while taking advantage of market opportunities.
完成時間為 2 小時
14 個視頻 （總計 96 分鐘）, 1 個閱讀材料, 1 個測驗
14 個視頻
How our age and wealth affect our investment profile - Robo-advisors8分鐘
The path from an investor's profile to his/her optimal investment strategy - UBS guest speaker2分鐘
Strategic asset allocation: MPT in practice - Definitions6分鐘
Strategic asset allocation: MPT in practice - Implementation8分鐘
Asset allocation versus stock picking: what matters more? - UBS guest speaker4分鐘
Rebalancing a portfolio to maintain the SAA - SAA versus TAA6分鐘
Rebalancing a portfolio to maintain the SAA - Weights and bounds9分鐘
Key drivers of tactical asset allocation - Goals8分鐘
Key drivers of tactical asset allocation - Implementation4分鐘
Timing the market with tactical asset allocation - Shiller's CAPE7分鐘
Timing the market with tactical asset allocation - Macroeconomic tools10分鐘
How tactical asset allocation depends on macroeconomic fundamentals - UBS guest speaker6分鐘
How to combine strategic and tactical asset allocations - UBS guest speaker4分鐘
1 個閱讀材料
The importance of asset allocation20分鐘
1 個練習
Graded quiz on the content of Week 315分鐘
完成時間為 2 小時
Risk Management
This fourth and final week is dedicated to risk. We will start by looking in more depth at different sources of risk such as illiquidity and currency risk but also at the different tools available to investors to perform risk management. But how should we measure risk? We will see that it may be valuable to go a step beyond standard deviation, the risk measure we used so far, and look at the Value-at-Risk and Expected Shortfall which focus on potential large losses. Finally, we will use the financial instruments at our disposal to hedge market and currency risk.
完成時間為 2 小時
14 個視頻 （總計 95 分鐘）
14 個視頻
Defining forwards and options - Options11分鐘
Risk as volatility?4分鐘
What about illiquidity? - UBS guest speaker2分鐘
Currency risk - Return7分鐘
Currency risk - Risk6分鐘
Defining the Value-at-Risk4分鐘
Computing the Value-at-Risk5分鐘
Defining the Expected Shortfall6分鐘
Computing the Expected Shortfall3分鐘
Risk management applied to portfolio allocation6分鐘
Banking regulation & Basel recommendations: How did we get there?7分鐘
Hedging against market falls (using options)8分鐘
Hedging against currency risk (using forwards)9分鐘
1 個練習
Graded quiz on the content of Week 415分鐘
審閱
4.7
來自PORTFOLIO AND RISK MANAGEMENT的熱門評論
由 KS 提供Sep 9, 2016
Great! This course will help you learn how to make a proper portfolio which optimally matched to your risk&return preference and how to manage your portfolio's risk level with financial instruments.
由 EM 提供May 3, 2018
Great course - wish there were more examples or exercises on the more technical, math-intensive topics like VaR and ES instead of just an extended explanation of the theory behind the formulas.
由 WM 提供Sep 10, 2016
Thoroughly engaging presentation of a topic that was very much esoteric to me previously. I would highly recommend this course to anyone looking for insight into portfolio and risk management.
由 SX 提供Mar 9, 2019
Great learning in this course, however the currency risk portion could have been explained in more detail and with more patience. It was a hard topic to grasp. But, overall a very good course.
由 SS 提供Sep 30, 2016
This is very good. I am grateful for the mathematics at the base of the theoretical structure, but I for one need more drilling. I am looking forward to the rest of the courses.
由 AB 提供Sep 16, 2016
i recommend this course for every one interested to understand the dynamics of financial markets and the future trends of financial markets and portfolio management
由 MA 提供Sep 8, 2016
Great course - like the rest of the specialization it had a great mix of video (primarily) and questions, practical advice, timely data and quizzes. Learned a ton!
由 TS 提供Oct 26, 2018
A useful module.\n\nSome of the derivative detail is hard to remember and the more detailed risk measurement formula may benefit from a little more explanation.
關於 投资管理 專項課程
In this Specialization, you will understand how investment strategies are designed to reach financial goals in a global context. You will learn the theory that underlies strong investment decisions, as well as practical, real-world skills that you can apply when discussing investment proposals with your advisor, managing your personal assets or your client’s investment portfolio. You will start by developing a global understanding of financial markets and what impacts rational and irrational behaviors have in finance at the micro and macro levels. You will then learn how to adequately build and manage a portfolio with a long-term view while gaining an appreciation for novel research advances in finance and related areas as well as future trends that are shaping the investment management industry. In the final Capstone Project, you will create a sensible 5-year investment plan that accounts for an investor's goals and constraints in a dynamic economic landscape. Key speakers from UBS, our corporate partner, will contribute to this specialization by providing you with practical insights they have gathered through years of experience working for the world’s largest wealth manager.
Director of this Specialization and main teaching contributor: Dr. Michel Girardin, Lecturer in Macro-Finance, University of Geneva
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