Sehr geehrte Damen und Herren,
Der Studiengang "Quantitative Asset and Risk Management" (kurz: ARIMA) startet heuer im Herbst zum vierten Mal und die ersten AbsolventInnen haben hervorragende
Chancen auf dem momentan doch recht schwierigen Arbeitsmarkt.
**Für das kommende Studienjahr 2012/13 werden noch Bewerbungen bis zum 15. Juni 2012 entgegen genommen.**
Die Entwicklung dieses Programmes erfolgte gemeinsam mit internationalen Partneruniversitaeten in Prag, Istanbul und Katowice und wurde von der EU als Joint Degree Curriculum Development Programm gefoerdert. Im 3. Semester findet daher ein verpflichtender Auslandsaufenthalt (zweimal 3 Wochen geblockt) bei einer der Partneruniversitaeten statt. Daraus ergibt sich auch, dass die Unterrichtssprache durchgaengig Englisch ist. Im Bereich Internationalisierung konnte außerdem mit der Universität Bologna, die einen Master in Quantitative Finance anbietet, ein Double Degree Abkommen abgeschlossen werden
Das Ziel von ARIMA besteht darin, den Studierenden ein umfassendes Verstaendnis ueber die Zusammenhaenge zwischen Asset- und Risikomanagement im Finanzbereich zu vermitteln.
Die AbsolventInnen erhalten eine fundierte Ausbildung im Risikomanagement (Quantifizierung von Risiken, Risikoaggregation; integrierte Steuerung von Banken und Versicherungen etc.) und Asset Management (Assetklassen, Portfolioselektion, Asset Liability Management, etc.). Hinzu treten methodisch-analytische Kenntnisse und Fertigkeiten, vor allem in Finanzmathematik und Statistik.
Voraussetzungen zur Teilnahme am Masterprogramm:
Im Anschluss an ein wirtschafts-, sozial-, natur- oder rechtswissenschaftliches oder technisches Studium einer Universitaet oder Fachhochschule kann der vier Semester umfassende und berufsbegleitend organisierte Masterstudiengang ARIMA absolviert werden.
Weiters muessen besuchte Lehrveranstaltungen im Bereich Mathematik/Statisitk und Wirtschaftswissenschaften nachgewiesen werden.
Aufnahmeverfahren:
Formales Kriterium fuer die Teilnahme am Aufnahmeverfahren ist eine schriftliche Bewerbung bis spaetestens 15. Juni 2012.
Das Aufnahmeverfahren selbst besteht aus einem strukturierten Interview (kurze Praesentation zu einem aktuellen Finanzthema auf Englisch und zusaetzliche Fragen zur Motivation fuer die Bewerbung) und einem Multiple-Choice Test. Die Literatur fuer den MC-Test kann von der homepage der FH des bfi Wien heruntergeladen werden. Der MC-Test findet am 26. Juni 2012 statt. Die strukturierten Interviews werden von Mitte Mai bis Ende Juni gefuehrt.
Lektorenpool aus dem wissenschaftlichen und berufsrelvanten Bereich:
Um einerseits theoretische Grundlagen zu vermitteln und andererseits die Anwendung der Theorie in der Praxis aufzuzeigen, konnten namhafte Lektoren aus diesen Bereichen fuer eine Vortragstaetigkeit in ARIMA gewonnen werden. Beispielshaft seien das IHS, die TU Wien, Oesterreichische Grossbanken und die OeNB genannt.
Wir hoffen, Ihr Interesse fuer den neuen Studiengang geweckt zu haben und wuerden uns sehr freuen, wenn Sie dieses Schreiben an weiterbildungsinteressierte Personen in Ihrem Unternehmen weiterleiten wuerden. Fuer weitere Fragen stehen wir Ihnen gerne zur Verfuegung (silvia.helmreich(a)fh-vie.ac.at) oder besuchen Sie unsere homepage:
http://www.fh-vie.ac.at/en/Degree-Programmes/Master/Quantitative-Asset-and-…
Mit freundlichen Gruessen
Prof.in (FH) Mag.a Silvia Helmreich
Studiengangsleiterin ARIMA
Fachhochschule des bfi Wien GmbH
Wohlmutstrasse 22
1020 Wien
Tel.: +43 1 7201286 - 972
e-mail: silvia.helmreich(a)fh-vie.ac.at
http://www.fh-vie.ac.at
P.S.: die Kosten des Masterstudienganges betragen EUR 363,36 im Semester.
________________________________
Firmenwortlaut: Fachhochschule des bfi Wien Gesellschaft m.b.H
Firmenbuchnummer: 148597 a
Firmenbuchgericht: Handelsgericht Wien
Firmensitz: Wohlmutstraße 22, 1020 Wien
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First announcement:
Workshop on Current Topics in Mathematical Finance 2013, Vienna, April
18 and 19, 2013.
Confirmed Invited Speakers:
Michal Barski, Universität Leipzig
Dirk Becherer, HU Berlin
Tomas Björk, Stockholm School of Economics
Rama Cont, Imperial College London
Stephane Crepey, Université d'Evry
Martin Larsson EPFL Lausanne
Eva Lütkebohmert, Universität Freiburg
Andrea Macrina, University College London
Michael Monoyios, University of Oxford
Agatha Murgoci, Copenhagen Business School
Walter Schachermayer, Universität Wien
Thorsten Schmidt, TU Chemnitz
Location: WU Vienna University of Economics and Business,
Department of Finance, Accounting and Statistics,
Heiligenstädter Str 46,
A-1190 Vienna
Conference Chair: Prof. Rüdiger Frey
Organisational details: Participation is free but there is a mandatory
registration. Interested participants have the opportunity to present a
poster.
Further information can be found at the
workshop homepage: http://mafin2013.wu.ac.at (online on 1.2.2013)
--
Prof. Ruediger Frey
Institute for Statistics and Mathematics
WU Vienna
email: ruediger.frey(a)wu.ac.at
web: http://statmath.wu.ac.at/~frey/
REMINDER - INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: JANUARY 22 (Tuesday), 2013 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Giovanna NICODANO, University of Torino
http://sites.carloalberto.org/nicodano/
Title: "THE ECONOMIC VALUE OF TIMING BULL AND BEAR MARKETS"
ABSTRACT:
Risk-adjusted profits of portfolio managers derive from their ability in forecasting returns out-of-sample. Recently, several papers cast doubts on prevailing linear methods for predicting out-of-sample. These doubts are reinforced by the difficulty of optimizing strategies in obtaining out-of-sample gains relative to a naïve equally-weighted strategy. This presentation examines the ex-post performance of optimal portfolios using returns predicted by a switching regression model. Due to the investor's ability to anticipate shifts from bull to bear markets, predictability involves the risk premium, volatility and correlations, and may extend to third and fourth moments. The out-of-sample performance of these timing strategies is assessed for horizons ranging from one month to ten years using three different equity datasets, including the commonly used US Industry and International Book-to-Market portfolios.
ABOUT GIOVANNA NICODANO:
Giovanna Nicodano is professor of financial economics at the University of Torino, chair of the Masters Programs in Economics and Finance, and fellow at Collegio Carlo Alberto. A recipient of the European Investment Bank Prize, she obtained her Ph.D. from Princeton University. She has been a visiting scholar at CEMFI Madrid, the London School of Economics and the Universities of Amsterdam, Freiburg and Haifa. Her research deals with strategic asset allocation, corporate finance and market liquidity. As a founder of the Centre for Research on Pension (CeRP), she initiated a research project on Asset Classes for Long Run Investors - with publications in the Annals of Finance, the Journal of Real Estate Finance and Economics and Real Estate Economics. Since 2008 she is international fellow of the Dutch Network for Studies on Pensions, Aging and Retirement (Netspar). She is research associate of the Brussels-based European Corporate Governance Institute (ECGI), and her work in corporate finance, focusing on complex structures such as business groups, has been published in the European Economic Review, the Journal of Banking and Finance and the Journal of Public Economics. Finally, her work on market liquidity was published in the Journal of Finance, the Review of Finance and the Journal of Banking and Finance.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics
Mag. Dorothea GRIMM
www.gutmann-center.at
INVITATION
The WU Institute for Finance, Banking and Insurance and Spängler IQAM Invest are pleased to invite you to a
SPÄNGLER IQAM INVEST ROUND TABLE
(apologies for duplicated mails!)
DATE: January 17, 2013 - 04:30 pm
SPEAKER: Prof. Dr. Terrance ODEAN, University of California, Berkeley
TOPIC: "DO BEHAVIORAL BIASES LEAD TO UNRECOGNIZED RISK-TAKING?"
ABSTRACT:
Professor Odean will discuss how behavioral biases can lead to unrecognized risk taking by financial institutions. Financial models often exacerbate risk taking due to unrecognized substitution, aggregation, and feedback risks. Success may lead money managers and traders to become overconfident and to overuse leverage. The use leverage by some institutions can increase risks to others. Limited attention and decision biases such as the availability bias distort our perceptions of probability. Emotions change our attitudes toward risk. And confirmation bias leads us to underestimate the likelihood that things will go wrong.
ABOUT TERRANCE ODEAN:
Terrance Odean is the Rudd Family Foundation Professor and Chair of the Finance Group at the Haas School of Business at the University of California, Berkeley. He is a member of the Journal of Investment Consulting editorial advisory board, of the Russell Sage Behavioral Economics Roundtable, of the Russell Investments Academic Advisory Board, and of the WU Gutmann Center Academic Advisory Board at the Vienna University of Economics and Business. He has been an editor and an associate editor of the Review of Financial Studies, an associate editor of the Journal of Finance, a co-editor of a special issue of Management Science, an associate editor at the Journal of Behavioral Finance, a director of UC Berkeley's Experimental Social Science Laboratory, a visiting professor at the University of Stavanger, Norway, and the Willis H. Booth Professor of Finance and Banking. As an undergraduate at Berkeley, Odean studied Judgment and Decision Making with the 2002 Nobel Laureate in Economics, Daniel Kahneman. This led to his current research focus on how psychologically motivated decisions affect investor welfare and securities prices. His research has been cited in the Wall Street Journal, the New York Times, the Los Angeles Times, the Washington Post, the International Herald Tribune, Time, Newsweek, U.S. News and World Report, Forbes, Businessweek, and several other publications.
Further information about Terrance Odean: www.odean.org
**REGISTRATION IS REQUIRED at vsam(a)wu.ac.at**
LOCATION:
WU Institute for Finance, Banking and Insurance
Heiligenstädter Str. 46-48, 1190 Wien - Seminar Room 1 (Ground Floor)
Contact and further information:
WU
Institute for Finance, Banking and Insurance
att. Martina Schlichting
Heiligenstädter Str. 46-48
1190 Vienna
Phone: +43-1-31336 6315
Mail: vsam(a)wu.ac.at
Web: http://www.wu.ac.at/finance/coop/vsam
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: JANUARY 22 (Tuesday), 2013 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Giovanna NICODANO, University of Torino
http://sites.carloalberto.org/nicodano/
Title: "THE ECONOMIC VALUE OF TIMING BULL AND BEAR MARKETS"
ABSTRACT:
Risk-adjusted profits of portfolio managers derive from their ability in forecasting returns out-of-sample. Recently, several papers cast doubts on prevailing linear methods for predicting out-of-sample. These doubts are reinforced by the difficulty of optimizing strategies in obtaining out-of-sample gains relative to a naïve equally-weighted strategy. This presentation examines the ex-post performance of optimal portfolios using returns predicted by a switching regression model. Due to the investor's ability to anticipate shifts from bull to bear markets, predictability involves the risk premium, volatility and correlations, and may extend to third and fourth moments. The out-of-sample performance of these timing strategies is assessed for horizons ranging from one month to ten years using three different equity datasets, including the commonly used US Industry and International Book-to-Market portfolios.
ABOUT GIOVANNA NICODANO:
Giovanna Nicodano is professor of financial economics at the University of Torino, chair of the Masters Programs in Economics and Finance, and fellow at Collegio Carlo Alberto. A recipient of the European Investment Bank Prize, she obtained her Ph.D. from Princeton University. She has been a visiting scholar at CEMFI Madrid, the London School of Economics and the Universities of Amsterdam, Freiburg and Haifa. Her research deals with strategic asset allocation, corporate finance and market liquidity. As a founder of the Centre for Research on Pension (CeRP), she initiated a research project on Asset Classes for Long Run Investors - with publications in the Annals of Finance, the Journal of Real Estate Finance and Economics and Real Estate Economics. Since 2008 she is international fellow of the Dutch Network for Studies on Pensions, Aging and Retirement (Netspar). She is research associate of the Brussels-based European Corporate Governance Institute (ECGI), and her work in corporate finance, focusing on complex structures such as business groups, has been published in the European Economic Review, the Journal of Banking and Finance and the Journal of Public Economics. Finally, her work on market liquidity was published in the Journal of Finance, the Review of Finance and the Journal of Banking and Finance.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics
Mag. Dorothea GRIMM
www.gutmann-center.at