DVFA, the German association for financial analysis and asset management, has just published two training videos for Evidence Based Investment Analysis (English version and German version, initial DVFA EBIA publication see here; my last EBIA text see here). I am proud that I have been asked to develop and provide the trainings. According to my knowledge, they are quite unique. Here is the summary in English:
What should you learn?
With the help of these trainings you should be able to identify typical critical errors of „professional“ investors and learn to ask the most important questions regarding the key investment topics: Asset allocation including alternative asset classes, manager and fund selection, security selection and position weightings as well as risk (overlay) management including opportunities for responsible investments.
During the course you will receive an introduction to traditional e.g. scenario based as well as alternative asset allocation approaches such as Naive and Zero Based Asset Allocation which are not „pseudo-optimized“ and we introduce an uncommon multi-asset benchmark. In addition, you will learn typical problems with quantitative and factor based fund and security selections, weightings and benchmarks. One chapter focuses on the attractiveness of environmental, social and governance factors for stock selection compared to factor or so called smart beta approaches. In addition, typical risk management problems will be shown e.g. sensitivities regarding the use of „signals“. On the other hand, it will be shown how risk overlays could significantly increase the allocation to illiquid investments. Also, we introduce an unusual classification of investment philosophies. The most important takeaways should be (how) to question assumptions, restrictions, models and data used by typical „professional“ investors.
The course is mainly based on the book Söhnholz, D., Rieken, S., Kaiser, D. (2010): Asset Allocation, Risiko-Overlay und Managerselektion: Das Diversifikationsbuch, Gabler-Verlag 2010 (German only).
English version: Duration 72 minutes, 12 video nuggets, one presentation document, EUR 142,80.
German version: Duration 140 minutes, 24 video nuggets, one presentation document, EUR 142,80.
Conflict of interest information: I will receive a (small) part of the revenues for the trainings.