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[VFN] REMINDER: INVITATION June 14: WU Gutmann Center Public Lecture - Terrance Odean: "Unrecognized Risk Taking in Financial Markets"
by gutmann-center＠wu.ac.at 08 Jun '16

08 Jun '16

REMINDER of the INVITATION The WU Gutmann Center cordially invites you to the forthcoming WU GUTMANN CENTER PUBLIC LECTURE (apologies for duplicated mails!) Date: June 14 (Tuesday), 2016, 4:00 pm Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna Speaker: Prof. Terrance Odean, University of California, Berkeley http://faculty.haas.berkeley.edu/odean/ Title: "Unrecognized Risk Taking in Financial Markets" Abstract Risk-taking is an essential activity in financial markets. Standard models assume that economic agents pay attention to all relevant information, are unbiased in their assessment of risk, and dispassionately match the risks they take to consistent preferences. In practice, however, investors have limited attention, display persistent biases when assessing risk, and have inconsistent preferences. Furthermore, risk-taking is influenced by emotions. Thus investors often take risks that they neither recognize nor intend to take. Those who rely on mathematical models may actually be more, not less, prone to unintended risk-taking. About Terrance Odean Terrance Odean is the Rudd Family Foundation Professor and Chair of the Finance Group at the Haas School of Business at the University of California, Berkeley. He is a member of the Journal of Investment Consulting editorial advisory board, of the Russell Sage Behavioral Economics Roundtable, of the WU Gutmann Center Academic Advisory Board at the Vienna University of Economics and Business and is a Wall Street Journal Expert Panelist. He has been an editor and an associate editor of the Review of Financial Studies, an associate editor of the Journal of Finance, a co-editor of a special issue of Management Science, an associate editor at the Journal of Behavioral Finance, a director of UC Berkeley's Experimental Social Science Laboratory, a member of the Russell Investments Academic Advisory Board, a visiting professor at the University of Stavanger, Norway, and the Willis H. Booth Professor of Finance and Banking. As an undergraduate at Berkeley, Odean studied Judgment and Decision Making with the 2002 Nobel Laureate in Economics, Daniel Kahneman. This led to his current research focus on how psychologically motivated decisions affect investor welfare and securities prices. **Please REGISTER**: Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> Phone: +43-1-31336-5238 CONTACT AND FURTHER INFORMATION: WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien) Department of Finance, Accounting and Statistics Sabina Krickl www.gutmann-center.at<http://www.gutmann-center.at> Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!

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[VFN] Univ.Ass. JK-Uni Linz Inst. f. Betriebl. Finanzwirtschaft (fwd)
by VFN-L admin * Andreas Schamanek 01 Jun '16

01 Jun '16

---------- Forwarded message ---------- Date: Wed, 01 Jun 2016 10:16:14 +0200 From: Bettina Raab <Bettina.Raab(a)jku.at> To: vfn-l(a)fam.tuwien.ac.at Die Johannes Kepler Universität Linz ist mit 20.000 Studierenden und 2.700 MitarbeiterInnen Oberösterreichs größte Bildungs- und Forschungseinrichtung. An vier Fakultäten – darunter seit 2014 die neu gegründete Medizinische Fakultät – bietet die JKU rund 60 Studienrichtungen an. Zur Verstärkung unseres Teams suchen wir zum ehestmöglichen Zeitpunkt eine/n Universitätsassistent/in Institut für Betriebliche Finanzwirtschaft, Abteilung für Asset Management Anzeigennummer 3102 Ihre Aufgaben: - Engagierte Lehr- und Forschungstätigkeit (Doktorarbeit) - Übernahme administrativer Aufgaben & Unterstützung des Abteilungsleiters & Teams Ihr Profil: - sehr guter Universitätsabschluss Wirtschaftswissenschaften/Finance mit ev. ersten beruflichen Erfahrungen in der Finanzindustrie - Beherrschung gängiger statistischer Analysemethoden Nähere Auskünfte erteilt der Abteilungsleiter Univ.-Prof. Dr. Teodoro D. Cocca, T +43 732 2468 7211, E-Mail: teodoro.cocca(a)jku.at. Das kollektivvertragliche Mindestgehalt beträgt € 2.696,50 brutto pro Monat. Bei gleicher Qualifikation werden Frauen bevorzugt aufgenommen. Bewerbungsfristende 15.6.2016. -- Bettina Raab Institutsreferentin Asset Management / Betriebliche Finanzwirtschaft JOHANNES KEPLER UNIVERSITÄT LINZ Altenberger Straße 69 Managementzentrum, 3. Stock, Trakt A, Raum Nr. 311 4040 Linz, Österreich T +43 732 2468 7212 bettina.raab(a)jku.at www.ibfw.jku.at

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[VFN] INVITATION June 14: WU Gutmann Center Public Lecture - Terrance Odean: Unrecognized Risk Taking in Financial Markets
by gutmann-center＠wu.ac.at 18 May '16

18 May '16

INVITATION The WU Gutmann Center cordially invites you to the forthcoming WU GUTMANN CENTER PUBLIC LECTURE (apologies for duplicated mails!) Date: June 14 (Tuesday), 2016 4:00 pm Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna Speaker: Prof. Terrance Odean http://faculty.haas.berkeley.edu/odean/ Title: "Unrecognized Risk Taking in Financial Markets" Abstract Risk-taking is an essential activity in financial markets. Standard models assume that economic agents pay attention to all relevant information, are unbiased in their assessment of risk, and dispassionately match the risks they take to consistent preferences. In practice, however, investors have limited attention, display persistent biases when assessing risk, and have inconsistent preferences. Furthermore, risk-taking is influenced by emotions. Thus investors often take risks that they neither recognize nor intend to take. Those who rely on mathematical models may actually be more, not less, prone to unintended risk-taking. About Terrance Odean Terrance Odean is the Rudd Family Foundation Professor and Chair of the Finance Group at the Haas School of Business at the University of California, Berkeley. He is a member of the Journal of Investment Consulting editorial advisory board, of the Russell Sage Behavioral Economics Roundtable, of the WU Gutmann Center Academic Advisory Board at the Vienna University of Economics and Business and is a Wall Street Journal Expert Panelist. He has been an editor and an associate editor of the Review of Financial Studies, an associate editor of the Journal of Finance, a co-editor of a special issue of Management Science, an associate editor at the Journal of Behavioral Finance, a director of UC Berkeley's Experimental Social Science Laboratory, a member of the Russell Investments Academic Advisory Board, a visiting professor at the University of Stavanger, Norway, and the Willis H. Booth Professor of Finance and Banking. As an undergraduate at Berkeley, Odean studied Judgment and Decision Making with the 2002 Nobel Laureate in Economics, Daniel Kahneman. This led to his current research focus on how psychologically motivated decisions affect investor welfare and securities prices. **Please REGISTER**: Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> Phone: +43-1-31336-5238 CONTACT AND FURTHER INFORMATION: WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien) Department of Finance, Accounting and Statistics Sabina Krickl www.gutmann-center.at<http://www.gutmann-center.at> Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!

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[VFN] INVITATION: Investment Talk June 15th with Sheridan Titman
by si-researchcenter 04 May '16

04 May '16

INVITATION (apologies for duplicated mails!) We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public. INVESTMENT TALK Date: Wednesday, June 15th, 2016 at 4 pm Speaker: SHERIDAN TITMAN Topic: "Stock Return Predictability" ABSTRACT: Stock returns have exhibited substantial cross-sectional predictability over the past 50 years. In addition to relatively short-term predictability that relates to return reversals and momentum, there is strong evidence of longer-term predictability that relates to firm fundamentals, like value, profitability and asset growth. There are three possible explanations for this evidence of long-term cross-sectional predictability. The first is that the observed return premiums are compensation for systematic risk, the second is that these observations are the product of data mining, and the third is that investors made a mistake about a systematic source of risk. Our analysis supports the third explanation and identifies a particular source of a mistake that relates to the perceived innovation climate, which influences both the creation and destruction of businesses. SHERIDAN TITMAN holds the McAllister Centennial Chair in Financial Services at the University of Texas at Austin and is a Research Associate of the National Bureau of Economic Research. Prior to joining the faculty at the University of Texas, Sheridan was a Professor at UCLA, the Hong Kong University of Science and Technology and Boston College and spent the 1988-89 academic year in Washington D.C. as the special assistant to the Assistant Secretary of the Treasury for Economic Policy. Sheridan's academic publications include both theoretical and empirical articles on asset pricing, corporate finance, energy finance, real estate finance and urban economics. He has also co-authored three finance textbooks, Financial Markets and Corporate Strategy, Valuation: The Art and Science of Corporate Investment Decisions, and Financial Management: Principles and Applications. He won the Smith-Breeden best paper award for the Journal of Finance, the GSAM best paper award for the Review of Finance and was a recipient of the Batterymarch Fellowship. Sheridan has served on the editorial boards of leading academic journals, including the Journal of Finance and the Review of Financial Studies and has served as President of both the Western Finance Association and the American Finance Association and has served as a Director of the American Finance Association, the Western Finance Association, the Financial Management Association and the Asia Pacific Finance Association. He is currently the Vice President of the American Real Estate and Urban Economics Association. Sheridan has a B.S. from the University of Colorado and an M.S. and Ph.D. from Carnegie Mellon University. REGISTRATION is required. We kindly ask to register before June 8th at si-researchcenter(a)wu.ac.at LOCATION: TU Wien BA Chemie Hochhaus, Entrance 10, 11th upper floor, TUtheSky - Conference room 1060 Vienna, Getreidemarkt 9 PARKING FACILITIES: Wipark Operngasse 13 or Wipark Lehargasse 4. Public transport: U1, U2, U4 Karlsplatz (5 minutes walking distance) U2 Museumsquartier 57A Getreidemarkt TU building plan: http://www.si-researchcenter.at/events/investment-talk Contact and further information: WU, Institute for Finance, Banking and Insurance , attn. Martina Schlichting, 1020 Vienna, Welthandelsplatz 1, Building D4, Level 4 Phone: +43 1 31336 6315 Mail: si-researchcenter(a)wu.ac.at, web: www.si-researchcenter.at

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[VFN] Stellenausschreibung Universitätsassistent/in mit Doktorat
by Sommersguter-Reichmann, Margit (margit.sommersguter＠uni-graz.at) 27 Apr '16

27 Apr '16

Sehr geehrte Damen und Herren, wir möchten Sie hiermit auf die Ausschreibung einer Stelle einer/eines Universitätsassistentin/Universitätsassistenten mit Doktorat am Institut für Finanzwirtschaft der Universität Graz unter nachstehendem Link aufmerksam machen: https://online.uni-graz.at/kfu_online/wbMitteilungsblaetter_neu.display?pNr… Mit freundlichen Grüßen, Margit Sommersguter-Reichmann Margit Sommersguter-Reichmann, ao. Univ.-Prof., Mag. Dr. Universitaet Graz, Institut für Finanzwirtschaft Univ.str. 15, G2 A-8010 Graz Tel. +43 316 380 3516 Fax +43 316 380 9555

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[VFN] Vienna Congress on Mathematical Finance
by Thorsten Rheinlaender 07 Apr '16

07 Apr '16

+--------------------- | | VCMF 2016 - Vienna, Austria | | Vienna Congress on Mathematical Finance | Mon-Wed, September 12-14, 2016 | | VCMF Educational Workshop | Thu-Fri, September 15-16, 2016 | | https://fam.tuwien.ac.at/vcmf2016/ | +------------------------------------------------- Dear Colleagues and Friends, I would like to draw your attention to VCMF 2016, the "Vienna Congress on Mathematical Finance" and "VCMF Educational Workshop", taking place in Vienna in September this year. The three-day congress covers recent topics from various fields of Mathematical Finance such as Limit Order Book and High-Frequency Trading, Credit and Systemic Risk, Computational Methods and Calibration, New Financial Markets, Stochastic Volatility Models as well as Risk Measures and Optimization. It offers leading experts and academics alike the opportunity for scientific debate. The program is rounded off by a two-day educational workshop led by internationally recognized experts for young researchers. The talks and introductory courses offer an excellent learning opportunity and time for discussion on various relevant topics. The organisers Vienna University of Economics and Business (WU Wien), Vienna University of Technology (TU Wien) and University of Vienna are excited about the joint organisation of VCMF 2016 and look forward to the participation of national and international participants. The call for contributed talks & posters is open until April 30, 2016. We thank you for your interest and would like to ask whether you would disseminate this information to interested colleagues. We look forward to welcoming you in Vienna! With best regards from the VCMF 2016 Organisers, Mathias Beiglböck, Christa Cuchiero, Rüdiger Frey, Stefan Gerhold, Friedrich Hubalek, Irene Klein, Thorsten Rheinländer, Birgit Rudloff, Walter Schachermayer, Uwe Schmock -- ___________________________________ Prof. Dr. Thorsten Rheinländer Vienna University of Technology Financial and Actuarial Mathematics Wiedner Hauptstrasse 8-10/E105-1 1040 Vienna, Austria

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[VFN] 31. Workshop der AWG
by office＠bwg.at 31 Mar '16

31 Mar '16

Die Austrian Working Group on Banking and Finance (AWG) der Österreichischen Bankwissenschaftlichen Gesellschaft (BWG), Wien, organisiert in Zusammenarbeit mit der Alpen-Adria Universität Klagenfurt, Abteilung für Finance and Accounting, den 31. WORKSHOP der AWG 25./26 November 2016 First CALL for PAPERS Der Workshop findet am Freitag, 25. November 2016 (Nachmittag) und am Samstag, 26. November 2016 (Vormittag) an der Alpen-Adria Universität Klagenfurt statt. Bezüglich der Themen gibt es keine Einschränkung. Papers oder Extended Abstracts (ca. 2 Seiten) – vorzugsweise in englischer Sprache – sind bis spätestens 14. Oktober 2016 per eMail einzureichen an: awg31(a)aau.at Um den angestrebten Workshop-Charakter der Veranstaltung zu fördern, kann jeder Vortrag durch eine/n Discussant besprochen werden. Teilnehmende, die eine solche Vorgangsweise wünschen, werden gebeten, ihr Manuskript bis 30. September 2016 einzureichen. AUSTRIAN WORKING GROUP ON BANKING AND FINANCE Ziele: Schaffen eines österreichweiten Diskussionsforums für theoretische und empirische Forschungsarbeiten auf dem Gebiet des Bankwesens und der Finanzwirtschaft. Förderung der Zusammenarbeit innerhalb der Hochschulen und der Zusammenarbeit mit der Praxis. Teilnehmende: Angesprochen sind sowohl der wissenschaftliche Nachwuchs an allen österreichischen Universitäten und verwandten Institutionen der Forschung als auch Praktiker/innen in Kreditinstituten und Finanzabteilungen von Unternehmen. Schwerpunkte: (Auszug) Asset Pricing – Banking – Behavioral Economics – Central Banking and Regulation – Corporate Finance – Corporate Governance - Derivatives – Empirical Finance – Experimental Finance – Financial Econometrics – Financial Economics - Financial Innovations – International Finance – Market Microstructure – Performance Measurement – Portfolio Analysis – Real Estate Finance – Risk Management – Security Analysis. Die Teilnahme am Workshop ist KOSTENLOS.

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[VFN] Announcement: 9th European Summer School in Financial Mathematics
by summerschoolmathfi 15 Mar '16

15 Mar '16

Dear all, We are glad to announce the 9th European Summer School in Financial Mathematics, which will be held in Pushkin, close to St. Petersburg, from August 29th to September 2nd 2016. Main lectures will be given by B. Bouchard, K. Kardaras, J. Ruf, N. Touzi and M. Zhiltukhin. We invite applications from PhD students and early career researchers. Grants covering accommodation and travel expenses will be provided to accepted participants. Please visit the web page of the summer school for more information: http://www.cmap.polytechnique.fr/~euroschoolmathfi16/ Deadline for applications is April 30th. Please follow the instructions on the web page to apply. We count on your participation to make this ninth summer school a success, just as the previous editions have been! Please feel free to circulate this announcement. With our best regards, The organising committee: Youri Kabanov, Aleksey Muravlev, Albert Shiryaev, Peter Tankov, Nizar Touzi, Mikhail Zhiltukhin

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[VFN] REMINDER: INVITATION March 3: WU Gutmann Center Public Lecture - Sunil Wahal: Chasing "The demand for diversification in incomplete markets"
by gutmann-center＠wu.ac.at 23 Feb '16

23 Feb '16

REMINDER of the INVITATION The WU Gutmann Center cordially invites you to the forthcoming WU GUTMANN CENTER PUBLIC LECTURE (apologies for duplicated mails!) Date: March 3 (Thursday), 2016, 4:00 pm Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna Speaker: Prof. Sunil Wahal https://webapp4.asu.edu/directory/person/825492 Title: "The demand for diversification in incomplete markets" Abstract Endogenous diversification in a market with incomplete information generates a state-dependent premium for bearing idiosyncratic risk because time series variation in average idiosyncratic risk affects the disutility of under-diversification. This idea delivers a metric that maps the marginal disutility of under-diversification to the covariance of idiosyncratic risk with average idiosyncratic risk. The metric helps explain the cross-section of returns in the US between 1973 and 2014, especially in periods of low average idiosyncratic risk. In such periods, portfolios tests generate intercepts from three and five-factor models that are economically large, and present in both small and large capitalization stocks. We observe similarly large intercepts in markets outside the US, particularly in large stocks. About Sunil Wahal Dr. Sunil Wahal is the Jack D. Furst Professor of Finance at ASU W. P. Carey School of Business. Before joining the ASU faculty in 2005, Dr. Wahal was on the faculty at the Goizueta Business School, Emory University, and at the Krannert School of Management, Purdue University. He received his Ph.D. in finance from University of North Carolina, Chapel Hill in 1995. Dr Wahal's research focuses on trading issues (market microstructure), short and long-horizon trading strategies, and delegated portfolio management for mutual funds and institutional investors. He has published extensively in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies and numerous other journals. He is a consultant to Dimensional Fund Advisors, advises a number of investment committees, and regularly interfaces with practitioners in a variety of ways. He is a regular speaker at academic and practitioner conferences. **Please REGISTER**: Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> Phone: +43-1-31336-5238 CONTACT AND FURTHER INFORMATION: WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien) Department of Finance, Accounting and Statistics Sabina Krickl www.gutmann-center.at<http://www.gutmann-center.at> Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!

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[VFN] INVITATION March 3: WU Gutmann Center Public Lecture - Sunil Wahal: Chasing "The demand for diversification in incomplete markets"
by gutmann-center＠wu.ac.at 09 Feb '16

09 Feb '16

INVITATION The WU Gutmann Center cordially invites you to the forthcoming WU GUTMANN CENTER PUBLIC LECTURE (apologies for duplicated mails!) Date: March 3 (Thursday), 2016, 4:00 pm Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna Speaker: Prof. Sunil Wahal https://webapp4.asu.edu/directory/person/825492 Title: "The demand for diversification in incomplete markets" Abstract Endogenous diversification in a market with incomplete information generates a state-dependent premium for bearing idiosyncratic risk because time series variation in average idiosyncratic risk affects the disutility of under-diversification. This idea delivers a metric that maps the marginal disutility of under-diversification to the covariance of idiosyncratic risk with average idiosyncratic risk. The metric helps explain the cross-section of returns in the US between 1973 and 2014, especially in periods of low average idiosyncratic risk. In such periods, portfolios tests generate intercepts from three and five-factor models that are economically large, and present in both small and large capitalization stocks. We observe similarly large intercepts in markets outside the US, particularly in large stocks. About Sunil Wahal Dr. Sunil Wahal is the Jack D. Furst Professor of Finance at ASU W. P. Carey School of Business. Before joining the ASU faculty in 2005, Dr. Wahal was on the faculty at the Goizueta Business School, Emory University, and at the Krannert School of Management, Purdue University. He received his Ph.D. in finance from University of North Carolina, Chapel Hill in 1995. Dr Wahal's research focuses on trading issues (market microstructure), short and long-horizon trading strategies, and delegated portfolio management for mutual funds and institutional investors. He has published extensively in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies and numerous other journals. He is a consultant to Dimensional Fund Advisors, advises a number of investment committees, and regularly interfaces with practitioners in a variety of ways. He is a regular speaker at academic and practitioner conferences. **Please REGISTER**: Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> Phone: +43-1-31336-5238 CONTACT AND FURTHER INFORMATION: WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien) Department of Finance, Accounting and Statistics Sabina Krickl www.gutmann-center.at<http://www.gutmann-center.at> Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!

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