The Professor Ken Seng Tan, the Dean of China Institute for Actuarial Science, Came to Our University for Giving Lectures
2016-11-24
On the afternoon of May 20, the Professor Ken Seng Tan, the dean of China Institute for Actuarial Science gave 31th Lecture of HNUC Lushan Forum in F201 of Lezhi Building in our university: Effective Investment Strategy about Investment Portfolio. The lecture was presided over by the deputy dean Doctor Yan Wei of School of Finance of HNUC.
Ken Seng Tan is the professor, doctor of finance, ASA, CERA, the professor of the Department of Statistics and Actuarial Science of University of Waterloo, the chief expert of quantity risk management research of Canada, the deputy director of Institute for Insurance, Securities and Quantitative Finance, Cheung Kong Scholar of China Institute for Actuarial Science of Central University of Finance and Economics, and now is the dean of the China Institute for Actuarial Science. Professor Ken as one of founders founded the SOA Risk Management Committee in North America; At present, he is the editor-in-chief of NAAJ and associate editor of Annals of Actuarial Science. He has published more than 40 papers in the international first-class magazines till now. His main research direction is the innovation methods and application of risk management, Quasi-Monte Carlo, longevity risk and optimal reinsurance field.
This lecture title was "Effective Investment Strategy about Investment Portfolio". First of all, the Professor Ken expounded the basic contents of Investment Portfolio Theory - the basic contents of Investment Portfolio Theory issued by Markowitz, especially, he laid emphasis on analyzing its defects, namely, when there were many securities, the calculation amount will be vast with extremely difficult model parameters (weight) estimation, meanwhile, the capital quantity as required by investment will become significantly tremendous. Therefore, it will be assumed to be indefinite supply. In such case, some scholars put forward Investment Portfolio Model, which was equipped with equal weight in 2009. On the basis of it, the research team where Professor Ken works makes the further improvement to make the model operation become easier, which can be called as the "fool camera" in the investment aspect. They will rank certain securities on the market according to certain preference (expected profits or risks), select several securities to constitute a combination, and build an investment portfolio which is similar to the risk and market portfolio risk in their bearable range of capital scale and risks, and confirm the corresponding securities weight.
Professors Ken's lecture is considered as the latest development of Investment Portfolio Theory due to the abundant contents and practicability, and the audiences gave thunderous applause to the humorous and interesting lecture with bright piercing eyes. All participants said that they have not only learned the knowledge and professional skills about investment from the straightaway cases, but also known the effective investment portfolio strategy after listening the lecture, and they are deeply impressed by the enthusiasm and strict scholarship attitude of Professor Ken.
