Investments
Lecture 1: Background
Philip H. DybvigWashington University in Saint Louis
- the players
- the assets
- security returns
- mean and variance of returns
Phil Dybvig
| The investments industry is a curious phenomenon: ordinary people are giving more-or-less all of their wealth to more-or-less total strangers for safekeeping and management! This series of lectures discusses some of the analytical tools that you can use to organize your thinking about this activity should you be lucky enough (or persuasive enough) to have someone give you money to manage. The lectures focus on the management of institutional portfolios, with an emphasis on asset allocation, which is the problem of allotting shares of wealth to different asset classes. |