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FINANCIAL MARKET TRANSPARENCY
Theory and Principles
Biological underpinnings of finance and banking
The history of capitalism is about growth, but the rude awakening of the Global Financial Crisis was a moment of reckoning that highlighted the flaws in our understanding of financial markets. Unbearable accumulated costs hidden by efficiently inefficient price mechanisms caused the collapse and may do so again. Meanwhile, environmental externalities caused by expectations of continuous growth are exceeding planetary limits. Solutions based on self-serving industry supplied forecasts don’t reconcile with economic reality and increase global instability. Only transparency creates a consequentialist ethic that changes our behaviour and reconciles short-term personal needs with long-term development goals to solve these problems. FMT’s breakthrough is in recognising homo sapiens as both rational and irrational while facing uncertainty. This biological approach overcomes both restrictive neoclassical hypothesis of rationality and behavioural finance’s incomplete attempts to nudge investors. FMT proposes novel micro foundations that describe the biological nature of financial markets to increase antifragility. Readers will make better decisions under uncertainty that profit us all.
Robo-Advisors, GBI, Gamification
Personalise personal finance
Digital is leading to a tectonic shift whereby investors and tech-savvy financial advisors can become the new price-makers in the global democratisation of banking. FinTech Innovation delves deeply beyond simply describing the disruption examining, in detail, the underlying processes to illuminate exactly what is happening and why its happening so that you can engage with and thrive in the new marketplace. Through a behind-the-scenes look at Robo-Advisors and their part in the turnkey, low-cost personalisation of Goal Based Investing, this cutting-edge guide opens a tangible path for using technology to gain a competitive advantage, establish your value as a human advisor and "rewire" investors' minds to positively engage with investing. This authoritative guide pulls back the curtain to reveal:
VALUE-GENERATION FOR INVESTORS
Which is the product or solution that justify the fees?
Investment management is on the verge of a sea change in financial advice due to new regulatory changes and the rise of Fintech . The onus is now firmly on financial institutions: adapting to the transformation is not enough to stay relevant and profitable at a time of unprecedented change. "VGI" provides a roadmap for the reader: we lay out a model which places the goals and preferences of investors (on-boarding) at the centre of the value-generation mechanism, enriching the design of financial products which create charges and costs (in-boarding). The analysis of MiFID only serves as a canvas to showcase how international best practices, grounded in goal-based investing and probabilistic scenarios, create a new compliant framework to evade the pitfalls of progressively commoditised investment solutions, and avoid disruption to their business by harnessing the "human element" and achieve sustained innovation with digital.
PROBABILISTIC SCENARIO OPTIMISATION
Financial engineering of Goal Based Investing
What truly matters to long-term investors is the probability to achieve their PERSONAL FINANCIAL GOALS through their life cycle (targets of total return or retirement income). "PSO" provides the principles and quantitative framework to feature the probability of achieving multi-period financial goals as the objective function, within a scenario-based and risk-constrained optimisation exercise. The adoption of Goal Based Investing principles leads to a change in perspective from MPT (Markowitz and Black-Litterman), based on the author's research and experience in Risk and Wealth Management.
Robo-Advisors, GBI, Gamification
本书揭示了促成创新思维的各种力量, 密切审视了财富管理行业发生的革命, 尤其是数字化咨询、 个性化投资和能够洞察客户行为的认知分析方法。本书的目标是改善金融顾问和客户之间的投资体验, 让他们得以用更为直观的、 目标导向的投资话语进行交流 。不管是金融科技公司还是从事数字化的机构, 谁能利用智能投顾进行目标导向的投资, 谁就最有希望超越对手。
个人投资者、 金融顾问、 投资组合经理、 技术和数字化经理、 银行业高管和金融科技企业家都可以从这本书中得到对财富管理行业转型的深刻见解, 从而理解新技术和定量金融之间的联系, 并适应更加严格的市场监管和更高的信用标准。
The FinTech Book
MY iPOD was a Robo-Advisors
The Fintech Book is your primary guide to the financial technology revolution and opportunity therein. Written by prominent industry experts and startup entrepreneurs in the global fintech investment space, this book aggregates diverse industry expertise into a single informative volume to provide entrepreneurs, bankers and investors with the answers they need to capitalize on this lucrative market.
LIFE IS A CONTINUOUS RESEARCH