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Entwicklungslinien in der Portfoliotheorie und im Asset Management

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  • Wallmeier,

Abstract

The paper first gives an overview of the theory of finance and then focuses on the field of asset management. The portfolio model of Markowitz serves as a starting point. It has deeply influenced financial theory although it is hardly implementable because of estimation errors in expected returns. Therefore, possible solutions and extensions are considered. Following a general discussion of active versus passive management, the article presents active approaches derived from return anomalies, factor premiums and hedge fund strategies. The article concludes with an outlook on challenges for asset management in the future.

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  • Wallmeier,, 2016. "Entwicklungslinien in der Portfoliotheorie und im Asset Management," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 70(4), pages 407-422.
    • Handle: RePEc:nms:untern:10.5771/0042-059x-2016-4-407
    DOI: 10.5771/0042-059X-2016-4-407
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    References listed on IDEAS

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