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The GUTMANN CENTER FOR PORTFOLIO MANAGEMENT
at the University of Vienna
(
http://www.gutmann-center.at)
is pleased to announce the following
PUBLIC LECTURE:
Date: January 21st, 4.30 p.m.
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
(
http://www.gutmann.at)
Speaker: STEPHEN A. ROSS, MIT Sloan Management School
Franco Modigliani Professor of Financial Economics
http://sloancf.mit.edu/vpf/facstaff.cfm?ID=226&ProfType=F&sortor
der=name
A widely published author in finance and economics, Stephen Ross
is best known as the inventor of the Arbitrage Pricing Theory of
Agency, as well as the codiscoverer of risk-neutral pricing and
the binomial model for pricing derivatives. His book Corporate
Finance is in its fourth edition. Ross' current research efforts
involve a variety of phenomena in financial markets. He is a
principal of Roll & Ross Asset Management Corporation, which
employs technology that Ross helped develop to manage over $3
billion in investments worldwide. He is a fellow of the American
Academy of Arts and Sciences and is a director of Freddie Mac,
Algorithmics, Inc., and the College Retirement Equities Fund. He
is also a trustee of the California Institute of Technology.
Title: "A NEOCLASSICAL VIEW OF BEHAVIORAL FINANCE AND THE CLOSED
END FUND PUZZLE-IMPLICATIONS FOR ASSET MANAGEMENT"
Abstract:
"There is a rising interest in the use of anomalies and
behavioral finance
in asset management. Some of the results from this work are of
potential
value and much is not. Of most value are the empirical findings
when they
are properly understood and interpreted. Of least value are the
'behavioral
explanations'. Without a solid neoclassical financial basis for
an anomaly,
trading on the basis of it is perilous."
Please register - Contact:
Brigitte Juchelka, Bank Gutmann AG
mail: brigitte.juchelka(a)gutmann.at
Tel.: +43-1-50220-357
Fax: +43-1-50220-249
Further information:
Dorothea Grimm
Gutmann Center for Portfolio Management
mail: dorothea.grimm(a)univie.ac.at
Phone: +43-1-4277-38186
web:
http://www.gutmann-center.at