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Behavioural Finance and Equity Investment Strategies

London Financial Studies
En London (Inglaterra), New York (Estados Unidos)
5 opiniones

3001-4000

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Descripción

Modern finance portrays investment decision making as rational choice. However, pure rationality does not describe how decisions are truly made. This course examines:

(1) the various behavioural strategies that amateur and expert investors rely upon to make decisions (2) the structure and speculative dynamics of equity prices in world financial markets from the perspective of investor psychology (3) the practical implications of behavioural finance.

The course will enable participants to (i) understand and implement equity investment strategies based on key insights of behavioural finance, and (ii) to successfully manage business relationships with clients.

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¿Qué objetivos tiene esta formación?

Requisitos: The course is self contained but prior knowledge of standard concepts in modern finance is required (e.g., portfolio theory, CAPM, beta, efficient markets).

Instalaciones y fechas

Dónde se imparte y en qué fechas

Inicio Ubicación
07 diciembre 2017
London
34 Curlew Street, se12nd, London, Inglaterra
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A elegir
New York
New York, Estados Unidos
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Opiniones

A

09/09/2016
Lo mejor LFS Courses are exhibited by experts that comprehend the level of material fund pioneers request in the event that they are to surrender time from their bustling calendars. Through luring high end teachers, the courses are introduced in a way that connections best scholarly research with the substances professionals confront.

A mejorar Nothing.

Curso realizado: Septiembre 2016 | Recomendarías este centro? Sí.
A

08/10/2016
Lo mejor In my formal instruction I realized what and who moulded the art of the venture business. In my LFS class, Dr. De Bondt shed new light on the advancement of new thoughts and the time they take to end up series.

A mejorar Everything was positive.

Curso realizado: Octubre 2016 | Recomendarías este centro? Sí.
A

03/10/2016
Lo mejor An extraordinary ride crosswise over 20 and more years of hypothesis and exact confirmation, extremely charming and imperative to develop chosen subjects.

A mejorar Nothing.

Curso realizado: Octubre 2016 | Recomendarías este centro? Sí.

¿Qué aprendes en este curso?

Decision Making
Psychology
Risk Management
Investment
Finance
Financial
Equity
Financial Training
Behavioural finance
Business Relationships
psychological
Psychological mechanisms
Investment Strategy
Fundamental signals
Procrastination

Temario

Day One

Foundations of Behavioural Finance
  • Decision making
    - Modern vs. institutional vs. Behavioural finance
  • Judgement and choice: Psychological mechanisms
    - Sources of bias: Cognitive, emotional and socio psychological
    - Mental frames and pseudo beliefs
    - Gains, losses and risk taking. Prospect theory. Loss aversion
    - Heuristics
    - Why people do or do not learn from experience
  • Decision traps
    - Status quo bias. Default options. Inertia. Procrastination
    - Denial of losses. Delay. Escalation of commitment
    - Hindsight bias. The seven sins of memory
    - Regret. The power of counterfactuals
    - Unrealistic optimism. Wishful thinking
    - Overconfidence. Information overload
    - Social pressure and lack of self confidence
    - Gut feelings
  • Deceptive illusions: How investors mismanage their portfolios
    - Perceptions of prices
    - Perceptions of value
    - Risk management
    - Trading practices 
Day Two

Equity Investment Strategy

  • Modern vs. Behavioural Finance
    - Central insights: Intuition is fragile. Institutional design and market psychology are key
  • Price and value
    - Theory of value. Arbitrage vs. fundamental value
    - Discount models and P/E ratios
    - Investor disagreement and market prices. Theory of marginal opinion
  • Return predictability in world equity markets
    - How much predictability do past asset return data show?
  • False beliefs
    - Irrational exuberance in world financial markets
    - Over and underreaction in the cross section of securities
    - Price trends and reversals
    - Fixation on reported earnings
    - Fixation on earnings targets
  • Strategic refinements
    - Fundamental signals
    - Value investing: how to separate winners from losers
Final review and Q & A session