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.
Ce cours fait partie de la Spécialisation Gestion des investissements
Portfolio and Risk Management
Offert par
À propos de ce cours
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Résultats de carrière des étudiants
38%
ont commencé une nouvelle carrière après avoir terminé ce cours
37%
ont bénéficié d'un avantage concret dans leur carrières grâce à ce cours
Compétences que vous acquerrez
Portfolio TheoriesRisk ManagementValue At Risk (VAR)Portfolio Optimization
Résultats de carrière des étudiants
38%
ont commencé une nouvelle carrière après avoir terminé ce cours
37%
ont bénéficié d'un avantage concret dans leur carrières grâce à ce cours
Certificat partageable
Obtenez un Certificat lorsque vous terminez
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Cours 3 sur 5 dans le
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Approx. 13 heures pour terminer
Recommandé : 4 weeks of study, 1-3 hours/week
Anglais
Sous-titres : Anglais
Programme du cours : ce que vous apprendrez dans ce cours
1 heure 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.
1 heure pour terminer
6 vidéos (Total 39 min), 2 lectures, 1 quiz
6 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
2 lectures
Course syllabus5 min
Glossary10 min
1 exercice pour s'entraîner
Graded quiz on the content of Week 110 min
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.
2 heures pour terminer
14 vidéos (Total 89 min)
14 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
1 exercice pour s'entraîner
Graded quiz on the content of Week 215 min
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.
2 heures pour terminer
14 vidéos (Total 96 min), 1 lecture, 1 quiz
14 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
1 lecture
The importance of asset allocation20 min
1 exercice pour s'entraîner
Graded quiz on the content of Week 315 min
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.
2 heures pour terminer
14 vidéos (Total 95 min)
14 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
1 exercice pour s'entraîner
Graded quiz on the content of Week 415 min
Avis
4.7
Meilleurs avis pour PORTFOLIO AND RISK MANAGEMENT
par KSSep 9, 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 EMMay 3, 2018
Great course - wish there were more examples or exercises on the more technical, math-intensive topics like VaR and ES instead of just an extended explanation of the theory behind the formulas.
par WMSep 10, 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.
par SXMar 9, 2019
Great learning in this course, however the currency risk portion could have been explained in more detail and with more patience. It was a hard topic to grasp. But, overall a very good course.
Offert par
Université de Genève
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 du Spécialisation Gestion des investissements
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
Foire Aux Questions
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Une fois que vous êtes inscrit(e) pour un Certificat, vous pouvez accéder à toutes les vidéos de cours, et à tous les quiz et exercices de programmation (le cas échéant). Vous pouvez soumettre des devoirs à examiner par vos pairs et en examiner vous-même uniquement après le début de votre session. Si vous préférez explorer le cours sans l'acheter, vous ne serez peut-être pas en mesure d'accéder à certains devoirs.
À quoi ai-je droit si je m'abonne à cette Spécialisation ?
Lorsque vous vous inscrivez au cours, vous bénéficiez d'un accès à tous les cours de la Spécialisation, et vous obtenez un Certificat lorsque vous avez réussi. Votre Certificat électronique est alors ajouté à votre page Accomplissements. À partir de cette page, vous pouvez imprimer votre Certificat ou l'ajouter à votre profil LinkedIn. Si vous souhaitez seulement lire et visualiser le contenu du cours, vous pouvez accéder gratuitement au cours en tant qu'auditeur libre.
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