Beroepsvereniging van beleggingsprofessionals

Data: 24 en 31 januari 2012, van 13.30 tot 17.30 uur

Deze module wordt in het Engels gegeven.

Docent: Roman Kraeussl

Doelgroep

De cursus is interessant voor

• Portfolio managers; institutional investors; individual investors

• Risk managers

• Advisors in private wealth management

• Consultants in financial industry

Inhoud
Traditional finance assumes that investors are rational, that is, they can access to and have the ability to process information correctly. Moreover, financial markets are efficient since competition between investors ensures that securities are correctly priced to reflect all available information. However, real world experience and recent empirical studies suggest that markets are not fully efficient and that investors are not fully rational. The field of behavioral finance uses insights from psychology and argues that investors are committed to certain heuristic-based biases such as overconfidence and loss aversion to explain so-called financial market anomalies. Behavioral models recognize that individuals (and markets) may behave irrationally, sometimes for an extended period of time. This module examines how the insights of behavioral finance complements the traditional finance paradigm. We explore how individuals’ attitudes and behavior affect their own financial decisions and the financial markets overall. This module is focused more on conceptual foundation than on complex mathematical models and is highly interactive. We will make intensive use of real world applications and case studies.

Onderwerpen

• Traditional finance and challenges to market efficiency

• Behavioral factors and financial markets

• The psychology of investor behavior

• Behavioral investing and trading strategies

• Inefficient markets and alternative investments

Participants will develop the necessary skills for taking into account behavioral factors in various aspects of financial market analysis. Upon completion of this course, participants will be able to

• Recognize behavioral factors that systematically influence financial markets and corporations;

• Identify the properties and characteristics of empirical data pointing to the presence of behavioral phenomena;

• Address how behavioral finance applies to individual and institutional investors’ holdings and their trading endeavors.

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