DURATION: 2 x 3h
DATES: November 27 & December 02, 2020
Asset Allocation History – overview of asset allocation and risk management techniques.
A CRITIAL APPRAISAL OF TRADITIONAL RISK MANAGEMENT
- Limitations of volatility-based risk measures
- Consequences of correlation-based market analysis
- VaR – Lessons learned
- Market Timing & Tactical Asset Allocation
A new definition of risk is introduced, derived from third generation asset allocation.
- What are risk factors?
- How to isolate and analyze them?
- How to invest in risk factors?
- Difference between risk factor diversification and factor-based investing
- Practical examples of risk factor diversification
- Beyond volatility-based risk parameters
- Risk VS Uncertainty
- Correlation VS Causality
- Quantitative VS Qualitative Risk Measures
How have pension funds, insurance companies and portfolio managers implemented Adaptive Risk Management techniques
- Which lessons can be learned from them?
- Limits of Adaptive Risk Management Techniques
APPLYING THE LEARNED LESSONS
Together with the participants, a case study is prepared interactively to apply the lessons learned throughout the day. Participants will brainstorm about how to use the new methods in their own job/company.
Adaptive markets require adaptive risk management. Adapting the risk management techniques of professional investors accordingly, leads to a diminution of a correlation-based understanding of risk. It forces the investor to think in causalities.
This seminar enables professional investors with practical tools to recognize, isolate and manage causal risk factors in a portfolio. Also, participants will learn how to distinguish uncertainty from risk and how to apply new risk parameters in risk and portfolio management.
Three practical exercises will allow the participants to brainstorm about how applicable the lessons learned are back at their workplace.
Mag. Dr. Markus Schuller, MBA, MScFE
Founder & Managing Partner / Panthera Solutions Sarl
Markus Schuller is the founder and managing partner of Panthera Solutions Sarl, a leading applied behavioral finance consultancy. As award-winning Investment Decision Architects™, Panthera optimizes the choice architecture of professional investors through applied behavioral finance methods. Empowering the decision makers towards comparative advantages in capital markets remains the ultimate goal. The Panthera intervention toolbox has proven to be equally effective and innovative.
As adjunct professor, Markus teaches courses like “Asset Allocation & Applied Behavioral Finance“, Risk Management & Applied Behavioral Finance”, “Investment Banking” and “Narrative Reporting” at renowned Master in Finance programs of the EDHEC Business School, the IE Business School and the International University of Monaco. Markus publishes in academic top journals (i.e. Journal of Portfolio Management, 2018), writes articles for professional journals (i.e. CFA Institute, OECD Insights, etc.) and holds keynotes at international investment conferences.
As an investment banker, adjunct professor and author, Markus looks back at 20 rewarding years of trading, structuring, and managing standard and alternative investment products. Prior to founding Panthera Solutions, he worked in executive roles for a long/short equity hedge fund for which he developed the trading algorithm. Markus started his career working as equity trader, derivatives trader and macro analyst for different banks.
• Wealth Managers
• Private Banks
• Regional Banks
• Financial Analyst
• Corporate Treasurer
• Management Consultant
• Performance Manager
• Legal & tax advisor
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Panthera Solutions Sarl
5, Avenue Saint Laurent | MC 98000 | Monaco | firstname.lastname@example.org | Company ID / 18S07917