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.
You will start by studying how imperfect correlation between assets leads to diversified and optimal portfolios as well as the consequences in terms of asset pricing. Then, you will learn how to shape an investor's profile and build an adequate portfolio by combining strategic and tactical asset allocations. Finally, you will have a more in-depth look at risk: its different facets and the appropriate tools and techniques to measure it, manage it and hedge it.
Key speakers from UBS, our corporate partner, will regularly add a practical perspective on these different topics as you progress through the course.
Este curso faz parte do Programa de cursos integrados Gestão de investimentos
Portfolio and Risk Management
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25,480 já inscritos!
Informações sobre o curso
19,092
19,092Habilidades que você terá
Portfolio TheoriesRisk ManagementValue At Risk (VAR)Portfolio Optimization
Programa - O que você aprenderá com este curso
Semana
11 hora para concluir
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.
6 vídeos (total de (Total 39 mín.) min), 2 leituras, 1 teste
6 videos
Some common mistakes you will no longer make after this course – Portfolio risk6min
Some common mistakes you will no longer make after this course – Free lunch9min
Distribution of returns - Graphical representation8min
Distribution of returns - Numbers5min
The risk-return trade-off - UBS guest speaker5min
2 leituras
Course syllabus5min
Glossary10min
1 exercício prático
Graded quiz on the content of Week 110min
Semana
22 horas para concluir
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.
14 vídeos (total de (Total 89 mín.) min), 1 teste
14 videos
The impact of correlation - Maximizing diversification6min
Reaching the efficient frontier - UBS guest speaker4min
The efficient frontier with a risk-free asset4min
Expanding the asset universe - International diversification5min
Expanding the asset universe - Country versus industry diversification4min
Do investors diversify internationally? - UBS guest speaker3min
The impact of constraints on optimal portfolios8min
The pitfalls of Modern Portfolio Theory - Assumptions8min
The pitfalls of Modern Portfolio Theory - Investors9min
Two-fund separation - Individual decision4min
Two-fund separation - Market level7min
Capital market equilibrium - The Capital Market Line5min
Capital market equilibrium - The Capital Asset Pricing Model9min
1 exercício prático
Graded quiz on the content of Week 215min
Semana
32 horas para concluir
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.
14 vídeos (total de (Total 96 mín.) min), 1 leitura, 1 teste
14 videos
How our age and wealth affect our investment profile - Robo-advisors8min
The path from an investor's profile to his/her optimal investment strategy - UBS guest speaker2min
Strategic asset allocation: MPT in practice - Definitions6min
Strategic asset allocation: MPT in practice - Implementation8min
Asset allocation versus stock picking: what matters more? - UBS guest speaker4min
Rebalancing a portfolio to maintain the SAA - SAA versus TAA6min
Rebalancing a portfolio to maintain the SAA - Weights and bounds9min
Key drivers of tactical asset allocation - Goals8min
Key drivers of tactical asset allocation - Implementation4min
Timing the market with tactical asset allocation - Shiller's CAPE7min
Timing the market with tactical asset allocation - Macroeconomic tools10min
How tactical asset allocation depends on macroeconomic fundamentals - UBS guest speaker6min
How to combine strategic and tactical asset allocations - UBS guest speaker4min
1 leituras
The importance of asset allocation20min
1 exercício prático
Graded quiz on the content of Week 315min
Semana
42 horas para concluir
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.
14 vídeos (total de (Total 95 mín.) min), 1 teste
14 videos
Defining forwards and options - Options11min
Risk as volatility?4min
What about illiquidity? - UBS guest speaker2min
Currency risk - Return7min
Currency risk - Risk6min
Defining the Value-at-Risk4min
Computing the Value-at-Risk5min
Defining the Expected Shortfall6min
Computing the Expected Shortfall3min
Risk management applied to portfolio allocation6min
Banking regulation & Basel recommendations: How did we get there?7min
Hedging against market falls (using options)8min
Hedging against currency risk (using forwards)9min
1 exercício prático
Graded quiz on the content of Week 415min
44%
comecei uma nova carreira após concluir estes cursos
38%
consegui um benefício significativo de carreira com este curso
11%
recebi um aumento ou promoção
Melhores avaliações
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.
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.
Instrutores
University of Geneva- Tony Berrada
SFI Associate Professor of FinanceGeneva Finance Research Institute
University of Geneva- Ines Chaieb
SFI Associate Professor of FinanceGeneva Finance Research Institute
University of Geneva- Jonas Demaurex
Teaching AssistantGeneva Finance Research Institute
University of Geneva- Rajna Gibson Brandon
SFI Senior Chaired Professor of Finance and Managing Director of the GFRIGeneva Finance Research Institute
University of Geneva- Michel Girardin
Lecturer in Macro-Finance - Project Leader for the "Investment Management" specializationGeneva Finance Research Institute
University of Geneva- Philipp Krueger
SFI Assistant Professor of FinanceGeneva Finance Research Institute
University of Geneva- Kerstin Preuschoff
Associate Professor of Neurofinance and NeuroeconomicsGeneva Finance Research Institute
University of Geneva- Olivier Scaillet
SFI Senior Chaired Professor of Finance and Vice-dean (research) at GSEMGeneva Finance Research Institute
Sobre Universidade de GenebraUniversidade de Genebra
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.
Sobre o Programa de cursos integrados Gestão de investimentos
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
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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