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Title

Evolutionary Portfolio Theory: An Alternative to CAPM (Zurich)

Event Description

Capital Asset Pricing Model (CAPM) is a rich source of intuition and also the basis of many practical decisions. But teaching it as if there were no alternatives, has been recently criticised as unethical due to unrealistic assumptions and faulty conclusions of CAPM.

In this seminar, Thorsten Hens will clarify the strengths and weaknesses of CAPM. While up-to-date versions of CAPM do reasobaly well in explaining asset prices simple heuristics like 1/N do better as investment rules.

Evolutionary portfolio theory models the competiton of rational and behavioral investment rules and can exlplain why in real life markets

simple heuristics beat sophisticated optimization. Therefore, the evolutionary portfolio theory is an alternative complementing CAPM.

Thorsten’s talk is built around rigorous financial market theory and will illustrate empirical examples and real life case studies. The presentation aims at achieving a higher consciousness for practitioners having to deal with real world financial markets which are permanently evolving. 

Hens EF 7.September 2017 final.pdf

Event Type

Society; Educational

Education Topic

Behavioral Finance

Start Time

07/09/2017 12:15

End Time

07/09/2017 13:45

City

Zurich

State/Province

 

Event Country

Switzerland

Event Region

EMEA

Location Info

​Thomson Reuters, Hufgasse 10, Zurich

Speaker

Speaker:  Prof. Dr. Thorsten Hens, University of Zurich

​Thorsten Hens is Professor of Financial Economics at the University of Zurich and Adjunct Professor of Finance at the School of Economics in Bergen, Norway. He studied at Bonn and Paris and held professorships in Stanford and Bielefeld. His main research area is behavioural finance.  Thorsten Hens has published more than 50 journal articles and is the co-author of seven books.  Moreover, he has profound asset management experience from consulting pension funds in Switzerland.

CE Credits

1

SER Credit

0

Currency

CHF

Member Price

15.00

Non-Member Price

45.00

Candidate Price

45.00

Registration

Event Category

CE Event

All Day Event

 

Recurrence

 

Attachments

Hens EF 7.September 2017 final.pdf    
Content Type: MyCFA Calendar
Created at 11/07/2017 11:46 by michelle.knecht@cfaswitzerland.org
Last modified at 27/09/2017 17:07 by michelle.knecht@cfaswitzerland.org