Distinguished Speaker Series: Myron Scholes, Ph.D. (Ended)
The Evolution of Asset Management: Risk Management
Risk management is far more important than is stock selection or average returns in enhancing terminal wealth. Compound returns produce terminal wealth, what the investor consumes, not average returns or measuring performance success relative to a benchmark. Risk management entails mitigating large draw down or tail losses and participating in upside tail gains. And this is so each period of time regardless of the investment horizon. Interestingly, static asset allocation models will need to move to more dynamic risk models because the options market (and other risk markets) provides valuable market information across a broad cross-section of assets about the distribution of risk of next period's potential gains and losses.
Members - $45 or FREE with function ticket
Student Members - $20
Non-Members - $65
Reserved VIP table - $360 (8 guests, company name on table, contact office directly)
(member pricing underwritten by CFA Society Chicago)
CFA Institute Qualified Activity: Eligible for 1 credit hour
Attire: Business Casual
Menu: Chef's Choice (vegetarian meal available upon request)
Registration: Register Online
11:30 am - 12:00 pm - Registration & Networking
12:00 pm - 1:00 pm - Program
Hosted by: Distinguished Speaker Series Advisory Group
Myron Scholes, Ph.D., is chief investment strategist at Janus Henderson Investors. In this role, he leads the firm's evolving asset allocation product development efforts and partners with the investment team, contributing macro insights and quantitative analysis specific to hedging, risk management and disciplined portfolio construction. He is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, where he teaches a course on Managing Under Uncertainty and The Evolution of Finance.
Among his many accomplishments, Dr. Scholes is a Nobel Laureate in Economic Sciences and co-originator of the Black-Scholes options pricing model, for which he was awarded the Nobel Prize in 1997. He was awarded the Innovator of the Year Award from the Chicago Mercantile Exchange and the Lifetime Achievement Award from the Derivatives Association. Dr. Scholes is widely known for his seminal work in options pricing, capital market equilibrium, tax policies and the financial services industry. He is a director of Dimensional Fund Advisors mutual funds and several other private companies and has served as an advisor to the Guangdong Provincial Government.
He is a member of the Econometric Society and, in 1990, served as president of the American Finance Association. Additionally, he is a member of the American Academy of Arts and Sciences. Dr. Scholes has consulted widely with many financial institutions, corporations and exchanges, and has lectured for many academic groups and other organizations around the world. He has 47 years of financial industry experience.
Dr. Scholes holds a Ph.D. from the University of Chicago. He has honorary doctorate degrees from the University of Paris, France; McMaster University, Canada; Louvain University, Belgium; and Wilfred Laurier University, Canada. He has honorary Professorships from Nanjing University, Nanjing Audit University and Xiamen University.
*Special Notes Regarding Fees:
Regular, Candidate, and Affiliate Members may apply function tickets as payment for Non-member or Student Member. Credit card required to guarantee ALL reservations except for reservations using Function Tickets. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, November 13.
Members of any CFA society may attend at the CFA Society Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.
CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.
Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.