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MBA Masterclass and Information Session in Milan

Event organized by INSEAD

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To participate and confirm your seat, register via this link: http://inse.ad/5IyKDK

Masterclass and Information Session in Milan
Featuring MBA Alumni

09 November 2017 | 7:00 pm – 10:30 pm

Event kindly hosted by:
The Boston Consulting Group
BCG Milan
Via Ugo Foscolo 1
Milan 20121, Italy

Investment Managers Fighting Against Market Efficiency
by Federico Gavazzoni, Professor of Finance

Active investment managers frequently advertise their funds by saying that they can “beat the market”. Beating the market requires that fund managers obtain a risk-adjusted return that is higher than what is implied by standard equilibrium asset pricing models, like the capital asset pricing model. Do active fund managers beat the market? We will see that the overall picture appears rather gloomy when it comes to identifying “skilled” managers and separate them from the ones that are merely “lucky”. Formally, active investment managers are betting against market efficiency. Is it worth it?