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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: June 17th, 2003 (Tuesday), 4.30 p.m.
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
(
http://www.gutmann.at)
Speaker: Robert A. Korajczyk
Harry G. Guthmann Distinguished Professor of Finance
Kellogg School of Management
Northwestern University
http://www.kellogg.nwu.edu/faculty/korajczy/htm/
Title: "Liquidity and Portfolio Management"
Abstract:
"Liquidity, or lack of it, has played an important part in a number of
recent financial crises. Of even more relevance to most portfolio
managers if the fact that simulated portfolios almost universally
outperform actual portfolios based on the same trading rules. This
discrepancy is due, in large part, to imperfect liquidity in asset
markets. This lecture will discuss the estimation and use of liquidity
measures in portfolio management, the evidence for or against the
existence of liquidity premiums in equity markets, and the implications
for investors and listed firms."
Please register - Contact:
Brigitte Juchelka, Bank Gutmann AG
mail: brigitte.juchelka(a)gutmann.at
Tel.: +43-1-50220-357
Fax: +42-1-50220-249
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