À propos de ce cours
4.7
763 notes
124 avis
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....
Stacks
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Cours en ligne à 100 %

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Calendar

Dates limites flexibles

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Clock

Approx. 12 hours to complete

Recommandé : 4 weeks of study, 1-3 hours/week...
Comment Dots

English

Sous-titres : English...

Compétences que vous acquerrez

Portfolio TheoriesRisk ManagementValue At Risk (VAR)Portfolio Optimization
Stacks
Globe

Cours en ligne à 100 %

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Calendar

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.
Clock

Approx. 12 hours to complete

Recommandé : 4 weeks of study, 1-3 hours/week...
Comment Dots

English

Sous-titres : English...

Programme du cours : ce que vous apprendrez dans ce cours

Week
1
Clock
1 heures pour terminer

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....
Reading
6 vidéos (Total 39 min), 2 lectures, 1 quiz
Video6 vidéos
Some common mistakes you will no longer make after this course – Portfolio risk6 min
Some common mistakes you will no longer make after this course – Free lunch9 min
Distribution of returns - Graphical representation8 min
Distribution of returns - Numbers5 min
The risk-return trade-off - UBS guest speaker5 min
Reading2 lectures
Course syllabus5 min
Glossary10 min
Quiz1 exercices pour s'entraîner
Graded quiz on the content of Week 110 min
Week
2
Clock
2 heures pour terminer

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....
Reading
14 vidéos (Total 89 min), 1 quiz
Video14 vidéos
The impact of correlation - Maximizing diversification6 min
Reaching the efficient frontier - UBS guest speaker4 min
The efficient frontier with a risk-free asset4 min
Expanding the asset universe - International diversification5 min
Expanding the asset universe - Country versus industry diversification4 min
Do investors diversify internationally? - UBS guest speaker3 min
The impact of constraints on optimal portfolios8 min
The pitfalls of Modern Portfolio Theory - Assumptions8 min
The pitfalls of Modern Portfolio Theory - Investors9 min
Two-fund separation - Individual decision4 min
Two-fund separation - Market level7 min
Capital market equilibrium - The Capital Market Line5 min
Capital market equilibrium - The Capital Asset Pricing Model9 min
Quiz1 exercices pour s'entraîner
Graded quiz on the content of Week 215 min
Week
3
Clock
2 heures pour terminer

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....
Reading
14 vidéos (Total 96 min), 1 lecture, 1 quiz
Video14 vidéos
How our age and wealth affect our investment profile - Robo-advisors8 min
The path from an investor's profile to his/her optimal investment strategy - UBS guest speaker2 min
Strategic asset allocation: MPT in practice - Definitions6 min
Strategic asset allocation: MPT in practice - Implementation8 min
Asset allocation versus stock picking: what matters more? - UBS guest speaker4 min
Rebalancing a portfolio to maintain the SAA - SAA versus TAA6 min
Rebalancing a portfolio to maintain the SAA - Weights and bounds9 min
Key drivers of tactical asset allocation - Goals8 min
Key drivers of tactical asset allocation - Implementation4 min
Timing the market with tactical asset allocation - Shiller's CAPE7 min
Timing the market with tactical asset allocation - Macroeconomic tools10 min
How tactical asset allocation depends on macroeconomic fundamentals - UBS guest speaker6 min
How to combine strategic and tactical asset allocations - UBS guest speaker4 min
Reading1 lectures
The importance of asset allocation20 min
Quiz1 exercices pour s'entraîner
Graded quiz on the content of Week 315 min
Week
4
Clock
2 heures pour terminer

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....
Reading
14 vidéos (Total 95 min), 1 quiz
Video14 vidéos
Defining forwards and options - Options11 min
Risk as volatility?4 min
What about illiquidity? - UBS guest speaker2 min
Currency risk - Return7 min
Currency risk - Risk6 min
Defining the Value-at-Risk4 min
Computing the Value-at-Risk5 min
Defining the Expected Shortfall6 min
Computing the Expected Shortfall3 min
Risk management applied to portfolio allocation6 min
Banking regulation & Basel recommendations: How did we get there?7 min
Hedging against market falls (using options)8 min
Hedging against currency risk (using forwards)9 min
Quiz1 exercices pour s'entraîner
Graded quiz on the content of Week 415 min
4.7
Direction Signs

43%

a commencé une nouvelle carrière après avoir terminé ces cours
Briefcase

83%

a bénéficié d'un avantage concret dans sa carrière grâce à ce cours

Meilleurs avis

par KSSep 10th 2016

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.

par WMSep 11th 2016

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.

Enseignants

University of Geneva- Tony Berrada

SFI Associate Professor of Finance
Geneva Finance Research Institute

University of Geneva- Ines Chaieb

SFI Associate Professor of Finance
Geneva Finance Research Institute

University of Geneva- Jonas Demaurex

Teaching Assistant
Geneva Finance Research Institute

University of Geneva- Rajna Gibson Brandon

SFI Senior Chaired Professor of Finance and Managing Director of the GFRI
Geneva Finance Research Institute

University of Geneva- Michel Girardin

Lecturer in Macro-Finance - Project Leader for the "Investment Management" specialization
Geneva Finance Research Institute

University of Geneva- Philipp Krueger

SFI Assistant Professor of Finance
Geneva Finance Research Institute

University of Geneva- Kerstin Preuschoff

Associate Professor of Neurofinance and Neuroeconomics
Geneva Finance Research Institute

University of Geneva- Olivier Scaillet

SFI Senior Chaired Professor of Finance and Vice-dean (research) at GSEM
Geneva Finance Research Institute

À propos de University of Geneva

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....

À propos de la Spécialisation Investment Management

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....
Investment Management

Foire Aux Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

D'autres questions ? Visitez le Centre d'Aide pour les Etudiants.