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Title

Downtown Luncheon:  Nobody Goes There Anymore; It's Too Crowded

Event Description

Thursday, December 12
12:00 PM - 1:30 PM
 
Racquet Club of Philadelphia
215 S. 16th Street
Philadelphia, PA
 
Crowding reflects a collective belief in a risk premiums' existence, yet it has garnered a bad reputation in the financial media. We've all heard the warning bell: as more portfolio owners chase the benefits of a particular investment strategy, the subsequent surge in flows will lead to negative outcomes.  However without crowding, risks are only idiosyncratic and not systematic.  A more constructive approach to investing is to embrace crowding,and this presentation explains why.   
 
Our presenter is Wai Lee, Ph.D., Global Head of Research, Multi-Asset Solutions at Wells Fargo Asset Management. Based in London, Wai joins the firm from Neuberger Berman where he was the head of quantitative  investments and a senior portfolio manager for a number of strategies. At Neuberger Berman since 2004, Wai established the systematic platform of global investment capabilities across asset classes as standalone portfolios and also in multi-asset strategies.  
 
Wai played a key role in designing and managing strategic partnership mandates, as well as in the firm's asset allocation and risk management functions. Previously, he was the head of the quantitative engineering group at Credit Suisse Asset Management (CSAM). He joined CSAM in 2000 from J.P. Morgan Investment Management, where he began his investment industry career in 1996. In this capacity, he was in charge of quantitative research and risk management for the Global Balanced group. Before joining the industry, he was a postdoctoral research fellow at the Harvard Graduate School of Business. Wai is the author of the book Theory and Methodology of Tactical Asset Allocation, and has contributed book chapters on different topics.  
 
He presently serves on the Advisory Board of The Journal of Portfolio Management, which he joined in 1997. Wai's research has won the Peter L. Bernstein Award (2012), and multiple Bernstein Fabozzi/Jacobs Levy Awards from the Institutional Investor Journals as the Best Article of the Year (2011) and Outstanding Article of the Year (2010 and 2012) in The Journal of Portfolio Management. Wai holds adegree in mechanical engineering from the University of Hong Kong, and MBA and Ph.D. degrees in finance from Drexel University.
 
Registration:
 
CFAP Members:  $25.00
Non-Members:  $40.00
Students:  $25.00 
 
Click here to register.


Speaker

 

Event Type

Society; Featured

Education Topic

 

Start Time

12/12/2019 12:00 PM

End Time

12/12/2019 1:30 PM

Event City

Philadelphia

Event State/Province

PA

Location Info

Racquet Club of Philadelphia
215 S. 16th Street
Philadelphia, PA


CE Credits

N/A

Member Price

$25.00

Non-Member Price

$40.00

Candidate Price

N/A

Registration

CFAP Members:  $25.00
Non-Members:  $40.00
Students:  $25.00 
 
Click here to register.


All Day Event

 

Recurrence

 

Person or Group

 

Event Link

Downtown Luncheon: Nobody Goes There Anymore; It's Too Crowded

Event Link Leads To New Tab

Yes

Event Short Info

We've all heard the warning bell: as more portfolio owners chase the benefits of a particular investment strategy, the subsequent surge in flows will lead to negative outcomes.  However, without crowding, risks are only idiosyncratic and not systematic.  A more constructive approach to investing is to embrace crowding, and this presentation explains why.  

Attachments

Content Type: MyCFA Calendar
Created at 11/4/2019 1:58 PM by lkong@cfaphil.org
Last modified at 11/4/2019 2:02 PM by lkong@cfaphil.org