关于此课程： Investors tend to be their own worst enemies. In this third course, you will learn how to capitalize on understanding behavioral biases and irrational behavior in financial markets. You will start by learning about the various behavioral biases – mistakes that investors make and understand their reasons. You will learn how to recognize your own mistakes as well as others’ and understand how these mistakes can affect investment decisions and financial markets. You will also explore how different preferences and investment horizons impact the optimal asset allocation choice. After this course, you will be more effective in overcoming biases to do the wrong things at the wrong times and tailoring an investment strategy that is best suited on your or your client’s profile and investment needs.
制作方： 莱斯大学
教学方： Arzu Ozoguz, Finance Faculty
Jones Graduate School of Business
| 基本信息 | 课程 3（共 5 门，Investment and Portfolio Management Specialization ） |
| 承诺学习时间 | 4 weeks of study |
| 语言 | English |
| 如何通过 | 通过所有计分作业以完成课程。 |
| 用户评分 |
授课大纲
第 1 周
Efficient markets hypothesis and limits of arbitrage
This module introduces the third course in the Investment and Portfolio Management Specialization. In this module, we first present the efficient market hypothesis (EMH) – another pillar idea of modern finance. You will learn about its rationale as well as the empirical evidence that supports and challenges the predictions of the EMH such as anomalies. Finally, we will consider why smart money may sometimes fail to exploit away anomalies in financial markets.
9 个视频, 12 个阅读材料, 2 个练习测验
- Материал для самостоятельного изучения: Grading Policy
- Материал для самостоятельного изучения: How to use discussion forums
- Материал для самостоятельного изучения: Meet & Greet: Get to know your classmates
- Материал для самостоятельного изучения: Pre-Course Survey
- 视频: Efficient Markets Hypothesis (EMH)
- 视频: Examples of market efficiency: Market efficiency in real time
- 视频: Three Versions of Efficient Market Hypothesis
- Материал для самостоятельного изучения: Watch market efficiency in real time
- Материал для самостоятельного изучения: Real Time Market Efficiency
- Материал для самостоятельного изучения: Lecture Handouts: Efficient Markets Hypothesis (EMH)
- Тренировочный тест: Efficient markets hypothesis
- 视频: Event studies
- 视频: Anomalies
- 视频: Mutual fund and analyst performance
- Материал для самостоятельного изучения: Lecture Handouts: Are markets efficient?
- Материал для самостоятельного изучения: EntreMed Case
- Тренировочный тест: Are markets efficient?
- 视频: Smart investor should make markets efficient, right?
- Материал для самостоятельного изучения: New Facts in Finance (optional)
- Материал для самостоятельного изучения: Lecture Handouts: Limits to arbitrage
- 视频: Efficient Market Hypothesis
- Материал для самостоятельного изучения: Module 1: Quiz solutions
- Вопрос для обсуждения: Forum question on market efficiency and passive strategy
已评分: Anomalies
已评分: Efficient markets and limits of arbitrage
第 2 周
Biases and realistic preferences
In this module, we review the behavioral critique of market rationality. In contrast to the presumption that investors are rational, behavioral finance starts with the assumption that they are not. We will examine some of the information-processing and behavioral biases uncovered by psychologists in several contexts. In addition, we will consider alternative, more realistic ways of describing investor preferences.
12 个视频, 10 个阅读材料, 1 个练习测验
- 视频: What are heuristics-driven biases?
- 视频: Representativeness
- 视频: Conservatism and anchoring
- 视频: Overconfidence
- Материал для самостоятельного изучения: Lecture handouts: Heuristics-driven biases
- Материал для самостоятельного изучения: Additional heuristic-driven biases (required)
- Материал для самостоятельного изучения: Heuristics and Biases in Retirement Savings Behavior (optional)
- 视频: Frame dependence
- 视频: Mental accounting
- Материал для самостоятельного изучения: Behaving Badly (optional)
- Материал для самостоятельного изучения: Seven Sins of Fund Management (optional)
- Материал для самостоятельного изучения: Lecture handouts: Frame dependence
- Тренировочный тест: Heuristic driven biases and frame dependence
- 视频: Realistic preferences
- 视频: Loss aversion or Prospect theory
- 视频: Habit utility
- 视频: Catching up with the Joneses
- Материал для самостоятельного изучения: Lecture Handouts: Preferences
- Материал для самостоятельного изучения: The Psychology and Neuroscience of Financial Decision Making
- Материал для самостоятельного изучения: Psychology of what we do with our money (optional)
- 视频: Biases and realistic preferences
- Материал для самостоятельного изучения: Module 2: Quiz solutions
已评分: Biases and realistic preferences
第 3 周
Inefficient markets
In this module, we review a number of puzzles related to the aggregate stock market and the cross-section of average stock returns that have been documented in the literature. We examine how the behavioral biases and tendencies discussed in the previous module might result in some of these puzzles observed in financial markets.
9 个视频, 2 个阅读材料, 2 个练习测验
- 视频: Equity premium puzzle
- 视频: Volatility puzzle
- 视频: Closed-end fund puzzle
- 视频: Examples from Closed-End Country Funds
- Материал для самостоятельного изучения: Lecture handouts: Applications – the Aggregate Stock Market
- Тренировочный тест: Applications – the Aggregate Stock Market
- 视频: Long-run reversals
- 视频: Value effect
- 视频: Momentum
- Материал для самостоятельного изучения: Lecture handouts: Applications – The cross-section of average stock returns
- Тренировочный тест: Applications – The cross-section of average stock returns
- 视频: Summary
已评分: Inefficient markets and behavioral biases
已评分: Identifying trends in share prices
第 4 周
Applications: Investor behavior
In this last brief module, we turn our attention to the behavior of individual investors and review the empirical evidence on how behavioral biases and tendencies we discussed in the previous modules affect individual investor portfolio choice and trading decisions.
6 个视频, 3 个阅读材料, 1 个练习测验
- 视频: Failure to Diversify
- 视频: Naïve diversification
- 视频: Excessive trading
- 视频: Individual investors’ buying and selling decision
- Материал для самостоятельного изучения: Lecture handouts: Investor behavior
- Тренировочный тест: Investor Behavior
- 视频: Summary
- Материал для самостоятельного изучения: Module 4: Quiz solutions
- Материал для самостоятельного изучения: End-of-Course Survey
已评分: Applications: Investor behavior
常见问题解答
运作方式
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制作方
莱斯大学
Rice University is consistently ranked among the top 20 universities in the U.S. and the top 100 in the world. Rice has highly respected schools of Architecture, Business, Continuing Studies, Engineering, Humanities, Music, Natural Sciences and Social Sciences and is home to the Baker Institute for Public Policy.
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