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.
Este curso faz parte do Programa de cursos integrados Investment and Portfolio Management
Biases and Portfolio Selection
oferecido por
Informações sobre o curso
4.5
136 classificações
Habilidades que você terá
Behavioral FinanceCognitive BiasInvestmentBehavioral Economics
Programa - O que você aprenderá com este curso
Semana
14 horas para concluir
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 vídeos (total de (Total 67 mín.) min), 12 leituras, 4 testes
9 videos
Efficient Markets Hypothesis (EMH)7min
Examples of market efficiency: Market efficiency in real time3min
Three Versions of Efficient Market Hypothesis9min
Event studies6min
Anomalies13min
Mutual fund and analyst performance9min
Smart investor should make markets efficient, right?8min
Efficient Market Hypothesis2min
12 leituras
Grading Policy10min
How to use discussion forums10min
Meet & Greet: Get to know your classmates10min
Pre-Course Survey10min
Watch market efficiency in real time10min
Real Time Market Efficiency10min
Lecture Handouts: Efficient Markets Hypothesis (EMH)10min
Lecture Handouts: Are markets efficient?10min
EntreMed Case10min
New Facts in Finance (optional)10min
Lecture Handouts: Limits to arbitrage10min
Module 1: Quiz solutions10min
3 exercícios práticos
Efficient markets hypothesis10min
Are markets efficient?10min
Efficient markets and limits of arbitrage16min
Semana
23 horas para concluir
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 vídeos (total de (Total 75 mín.) min), 10 leituras, 2 testes
12 videos
Introduction4min
What are heuristics-driven biases?3min
Representativeness9min
Conservatism and anchoring6min
Overconfidence7min
Frame dependence9min
Mental accounting11min
Realistic preferences3min
Loss aversion or Prospect theory9min
Habit utility4min
Catching up with the Joneses3min
Biases and realistic preferences2min
10 leituras
Lecture handouts: Heuristics-driven biases10min
Additional heuristic-driven biases (required)10min
Heuristics and Biases in Retirement Savings Behavior (optional)10min
Behaving Badly (optional)10min
Seven Sins of Fund Management (optional)10min
Lecture handouts: Frame dependence10min
Lecture Handouts: Preferences10min
The Psychology and Neuroscience of Financial Decision Making10min
Psychology of what we do with our money (optional)10min
Module 2: Quiz solutions10min
2 exercícios práticos
Heuristic driven biases and frame dependence14min
Biases and realistic preferences20min
Semana
35 horas para concluir
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 vídeos (total de (Total 72 mín.) min), 2 leituras, 4 testes
9 videos
Introduction2min
Equity premium puzzle9min
Volatility puzzle12min
Closed-end fund puzzle10min
Examples from Closed-End Country Funds5min
Long-run reversals11min
Value effect10min
Momentum9min
Summary1min
2 leituras
Lecture handouts: Applications – the Aggregate Stock Market10min
Lecture handouts: Applications – The cross-section of average stock returns10min
2 exercícios práticos
Applications – the Aggregate Stock Market12min
Applications – The cross-section of average stock returns10min
Semana
41 hora para concluir
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 vídeos (total de (Total 24 mín.) min), 3 leituras, 2 testes
6 videos
Introduction46s
Failure to Diversify6min
Naïve diversification3min
Excessive trading6min
Individual investors’ buying and selling decision5min
Summary1min
3 leituras
Lecture handouts: Investor behavior10min
Module 4: Quiz solutions10min
End-of-Course Survey10min
2 exercícios práticos
Investor Behavior10min
Applications: Investor behavior16min
50%
consegui um benefício significativo de carreira com este curso
50%
recebi um aumento ou promoção
Melhores avaliações
I've learnt a lot with this course. Sometimes we don't stop to think about how to think on making decision.
Great course on application of behavioural finance in business decision making
Instrutores
Arzu Ozoguz
Finance FacultyJones Graduate School of Business
Sobre Universidade Rice
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.
Sobre o Programa de cursos integrados Investment and Portfolio Management
In this four-course Specialization, you’ll learn the essential skills of portfolio management and personal investing.
All investors – from the largest wealth funds to the smallest individual investors – share common issues in investing: how to meet their liabilities, how to decide where to invest, and how much risk to take on. In this Specialization, you will learn how to think about, discuss, and formulate solutions to these investment questions. You will learn the theory and the real-world skills necessary to design, execute, and evaluate investment proposals that meet financial objectives. You will begin with an overview of global financial markets and instruments that characterize the investment opportunities available to today’s investor. You will then learn how to construct optimal portfolios that manage risk effectively, and how to capitalize on understanding behavioral biases and irrational behavior in financial markets. You will learn the best practices in portfolio management and performance evaluation as well as current investment strategies. By the end of your Capstone Project, you will have mastered the analytical tools, quantitative skills, and practical knowledge necessary for long-term investment management success.
To see an overview video for this Specialization, click here!
Perguntas Frequentes – FAQ
Quando terei acesso às palestras e às tarefas?
Ao se inscrever para um Certificado, você terá acesso a todos os vídeos, testes e tarefas de programação (se aplicável). Tarefas avaliadas pelos colegas apenas podem ser enviadas e avaliadas após o início da sessão. Caso escolha explorar o curso sem adquiri-lo, talvez você não consiga acessar certas tarefas.
O que recebo ao me inscrever nesta Especialização?
Quando você se inscreve no curso, tem acesso a todos os cursos na Especialização e pode obter um certificado quando concluir o trabalho. Seu Certificado eletrônico será adicionado à sua página de Participações e você poderá imprimi-lo ou adicioná-lo ao seu perfil no LinkedIn. Se quiser apenas ler e assistir o conteúdo do curso, você poderá frequentá-lo como ouvinte sem custo.
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