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Conférence populaire
- MOSHE MILEVSKY, Schulich School of Business, York University
The Mathematics of Silly Investment Strategies, or How to Win
the Globe and Mail's Stock Picking Contest
[PDF] -
During the year 2002, 2003 and then again in 2004, I won a national
stock picking contest organized by the investments editor of the Globe
& Mail. This presentation focuses on some of the mathematical issues
surrounding this (dubious) achievement. More specifically, in the
presentation I will discuss joint-work with Tom Salisbury on the
optimal strategy for playing such a stock market game. Oddly enough,
the way to win such a contest is by doing the exact opposite of what
one should do with their own personal portfolio. In addition, I will
provide some general insights on investment management in a random
environment and I will discuss some common mistakes investors make
when allocating their personal wealth. And, while the mathematics
underlying stock picking is quite beautiful and elegant, the practical
implication is that you shouldn't pick stocks and investments for your
own portfolio based on what you read in the newspaper.
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