When an investor is faced with a portfolio choice problem, the number of possible assets and the various combinations and proportions in which each can be held can seem overwhelming. In this course, you’ll learn the basic principles underlying optimal portfolio construction, diversification, and risk management. You’ll start by acquiring the tools to characterize an investor’s risk and return trade-off. You will next analyze how a portfolio choice problem can be structured and learn how to solve for and implement the optimal portfolio solution. Finally, you will learn about the main pricing models for equilibrium asset prices.
Este curso faz parte do Programa de cursos integrados Investment and Portfolio Management
oferecido por
Programa de cursos integrados Investment and Portfolio ManagementUniversidade RiceInformações sobre o curso
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Resultados de carreira do aprendiz
50%
comecei uma nova carreira após concluir estes cursos
50%
consegui um benefício significativo de carreira com este curso
Certificados compartilháveis
Tenha o certificado após a conclusão
100% on-line
Comece imediatamente e aprenda em seu próprio cronograma.
Prazos flexíveis
Redefinir os prazos de acordo com sua programação.
Aprox. 23 horas para completar
Inglês
Legendas: Árabe, Francês, Portuguese (European), Chinês (simplificado), Italiano, Vietnamita, Coreano, Alemão, Russo, Turco, Inglês, Espanhol
Habilidades que você terá
Risk ManagementPortfolio ConstructionRisk AnalysisPortfolio Optimization
Resultados de carreira do aprendiz
50%
comecei uma nova carreira após concluir estes cursos
50%
consegui um benefício significativo de carreira com este curso
Certificados compartilháveis
Tenha o certificado após a conclusão
100% on-line
Comece imediatamente e aprenda em seu próprio cronograma.
Prazos flexíveis
Redefinir os prazos de acordo com sua programação.
Aprox. 23 horas para completar
Inglês
Legendas: Árabe, Francês, Portuguese (European), Chinês (simplificado), Italiano, Vietnamita, Coreano, Alemão, Russo, Turco, Inglês, Espanhol
oferecido por
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.
Programa - O que você aprenderá com este curso
5 horas para concluir
Module 1- Introduction & Risk and Return
This module introduces the second course in the Investment and Portfolio Management Specialization. In this module, we discuss one of the main principles of investing: the risk-return trade-off, the idea that in competitive security markets, higher expected returns come only at a price – the need to bear greater risk. We develop statistical measures of risk and expected return and review the historical record on risk-return patterns across various asset classes.
5 horas para concluir
10 vídeos (Total 64 mín.), 11 leituras, 4 testes
10 videos
Overview – No free lunches! Risk and return trade-off4min
Measuring returns: Geometric average returns6min
Measuring returns: Arithmetic average returns4min
Measuring risk: Volatility of returns8min
Alternative measures of risk7min
More on measuring risk and risk measures4min
Measuring risk and return: Illustration with four stocks8min
Historical record on risk-return patterns8min
Summary1min
11 leituras
Grading Policy10min
How to use discussion forums10min
Meet & Greet: Get to know your classmates10min
Pre-Course Survey10min
Lecture handouts: Risk and return: Measuring returns10min
Risk and return: Measuring returns Quiz Solutions10min
Lecture handouts: Risk and return: Measuring risk10min
Risk & Return: Measuring risk Quiz solutions10min
Lecture handouts: Risk and return: Historical record10min
Investing: Stocks for the long run (optional)10min
Module 1: Risk & Return Solutions10min
3 exercícios práticos
Risk and return: Measuring returns30min
Risk & Return: Measuring risk30min
Module 1: Risk & Return30min
7 horas para concluir
Module 2: Portfolio construction and diversification
In this module, we build on the tools from the previous module to develop measure of portfolio risk and return. We define and distinguish between the different sources of risk and discuss the concept of diversification: how and why putting risky assets together in a portfolio eliminates risk that yields a portfolio with less risk than its components. Finally, we review the quantitative tools that help us identify the ‘best’ portfolios with the least risk for a given level of expected return by considering a numerical example using international equity data.
7 horas para concluir
16 vídeos (Total 83 mín.), 12 leituras, 6 testes
16 videos
Measuring the expected return of a portfolio8min
Let’s review how we measure risk for a single asset4min
Finding the volatility of a portfolio return3min
Portfolio volatility: Another example2min
Measuring the co-movement between securities9min
Putting it all together… portfolio risk and diversification7min
Diversification and portfolio risk3min
Diversification: A graphical illustration with two assets4min
Diversification: A graphical illustration with three assets3min
Diversification: Systematic risk and idiosyncratic risk7min
Diversification: An illustration from international equity markets (US and Japan only)11min
Mean-variance frontier and efficient portfolios: International equity investment example (G5 countries)5min
Are you diversified adequately?4min
Mean-variance portfolio analysis5min
Summary1min
12 leituras
Lecture handouts: Measuring portfolio expected return
Measuring expected portfolio return Quiz solutions10min
Lecture handouts: Measuring portfolio volatility
Measuring portfolio volatility Quiz solutions10min
Accompanying spreadsheets for "Diversification: An illustration from international equity markets (US and Japan only)"10min
A Note on using EXCEL Solver10min
Lecture handouts: Diversification and portfolio risk
Lecture handouts: Mean-variance frontier and efficient portfolios: International equity investment example
Diversification and portfolio risk Quiz solutions10min
Equity investing: Globalization and diversification (optional)10min
Lecture handouts: Are you adequately diversified?
Module 2: Portfolio construction and diversification- Solutions10min
4 exercícios práticos
Measuring expected portfolio return30min
Measuring portfolio volatility30min
Diversification and portfolio risk30min
Module 2: Portfolio construction and diversification30min
3 horas para concluir
Module 3: Mean-variance preferences
In this module, we describe how investors make choices. Specifically, we look at how utility functions are used to express preferences. We review measures to describe investors’ attitude towards risk. Finally, we discuss how we can summarize investors’ preferences using a specific utility function: mean-variance preferences.
3 horas para concluir
7 vídeos (Total 47 mín.), 7 leituras, 3 testes
7 videos
Introduction2min
Preferences: Utility functions8min
Risk aversion9min
Expected utility6min
Mean-variance preferences8min
Portfolio choice problem with mean-variance preferences: A graphical illustration with equity and bond data10min
Summary1min
7 leituras
Lecture handouts: Utility and risk aversion
A note on measuring risk aversion and certainty equivalent10min
Utility and Risk aversion Quiz solutions10min
Lecture handouts: Mean-variance preferences
Portfolio choice with mean-variance preferences quiz solutions10min
Measure your own risk tolerance10min
Module 3: Mean-variance preferences- Solutions10min
3 exercícios práticos
Utility and risk aversion30min
Portfolio choice with mean-variance preferences30min
Module 3: Mean-variance preferences30min
5 horas para concluir
Module 4: Optimal capital allocation and portfolio choice
In this module, you will learn about mean-variance optimization: how to make optimal capital allocation and portfolio choice decisions when investors have mean-variance preferences. This was one of the ground-breaking ideas in finance. We will formally set up the investor’s portfolio choice problem and learn step-by-step how to solve for the optimal allocation and risky portfolio choice given a set of risky securities. You will also have an opportunity to apply these techniques to a numerical example. This module is slightly more technical than the others. Stick with it… you will not regret it!
5 horas para concluir
10 vídeos (Total 63 mín.), 12 leituras, 3 testes
10 videos
Introduction2min
Capital allocation line11min
Solving for the optimal capital allocation7min
Optimal capital allocation example: U.S. equities and Treasuries10min
Finding the optimal risky portfolio: Maximizing the Sharpe ratio6min
Main insight: The optimal risky portfolio is independent of preferences2min
Finding the optimal risk portfolio when you have multiple risky securities10min
Investment decision process5min
What’s wrong with mean-variance portfolio analysis?4min
Summary2min
12 leituras
A note on optimal capital allocation10min
Accompanying spreadsheets for "Optimal Capital Allocation Example: US Equities and Treasuries"10min
Lecture handouts: Mean-variance optimization
Mean-variance optimization Quiz solutions10min
Analytical solution to MVE portfolio (two risky assets)10min
A note on finding the mean variance efficient portfolio (Two risky assets)10min
Accompanying spreadsheets for "Finding the optimal risky portfolio: Maximizing the Sharpe ratio"10min
A note on finding the minimum variance frontier with multiple risky assets10min
Accompanying spreadsheet for finding minimum variance frontier with multiple risky assets10min
Lecture handouts: Optimal risky portfolio choice
Lecture handouts
Optimal capital allocation and portfolio choice- Solutions10min
2 exercícios práticos
Mean-variance optimization30min
Optimal capital allocation and portfolio choice30min
Avaliações
Principais avaliações do PORTFOLIO SELECTION AND RISK MANAGEMENT
por JC2 de Mar de 2020
I love how Dr O teach by telling a story. Her Teaching technique is different from the college boring classes that I have been. I wish she offer more courses.
por AS17 de Ago de 2019
One of the finest courses on Coursera. Gives a deep and invaluable insight into Investment and Portfolio Management theories and practices. A must do!
por FR19 de Jul de 2020
Dr. O really makes the idea of modern portfolio management clear! The practical assignments on Excel will really clear any confusion about the topics.
por LC16 de Dez de 2016
This was a tough course and I actually moved to another schedule. I think a sixth week on using excel to solve problems would have been worthwhile.
Sobre 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.
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