Portfolio selection theory and wildlife management

Portfolio Management: Theory & Practice

Automatic Trading Agent. RMT based Portfolio Theory and Portfolio Selection

Portfolio theory is a very powerful tool in the modern investment theory. It is helpful in estimating risk of an investor’s portfolio, arosen from lack of information, uncertainty and incomplete knowledge of reality, which forbids a perfect prediction of future price changes. Despite of many advantages this tool is not known and not widely used among investors on Warsaw Stock Exchange. The main...

Transferring Portfolio Selection Theory to Customer Portfolio Management - The Case of an e-Tailer

Investing in existing customers is widely accepted as a promising strategy because it is believed to be less costly than attracting new ones. Recent research by Reinartz et al. [39] provides indications, however, that it could also be profitable to simultaneously focus on a customer segment being more transaction-oriented. In this contribution – using the example of an e-tailer – we specificall...

Portfolio Life Cycle Selection – Theory and Experiment

In this paper, I compare the results from a laboratory experiment, in which individuals could allocate their funds between a risky asset and a risk-free zero return fund, with stochastic dynamic optimization policies based on expected utility maximization. Specifically, I focus on the predictions based on a negative exponential and concave quadratic utility. In addition, I look at the applicabi...

Competition in Portfolio Management: Theory and Experiment

We explore theoretically and experimentally the general equilibrium price and allocation implications of delegated portfolio management when the investor-manager relationship is non-exclusive. Investors transfer their securities allocations to managers, managers trade in a competitive marketplace to achieve new allocations, and payo↵s are distributed back to investors after subtraction of a por...