Items tagged with finance:
News & Updates:
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Faculty Affiliate David Musto discusses the late Stephen A. Ross, this year’s winner of the Wharton-Jacobs Levy Prize for Quantitative Financial Innovation. Many in the field consider him to be one of the most important thinkers in modern finance. One of his best-known ideas, for which he is receiving this award, is arbitrage pricing theory, or APT. It has been a staple of finance since he developed it in 1976 while at Wharton. -
Early in childhood many children begin to repeatedly hear the same advice from their families, teachers and mentors; be exceptional in high school and get into a top college, choose a “useful” major, graduate on time, get a well-paying job, and work your way up. Beyond simply being a list of ways to get young adults out of their parent’s home, generationally these instructions have been passed down as keys to socioeconomic mobility. Within the United States, this concept of economic mobility is a norm. It is the epitome of the American Dream, but in practice there are gaps in execution and the hoarding of a dream for particular groups of people.
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Faculty Affiliate Olivia Mitchell talks on CNBC about how a husband’s mortality is a driving force behind gains in women’s financial literacy late in life.
“So what we can see as time marched forward, is that the women tended to start out as less financially literate — but as the day approached where their husband passed away, the women gained financial skills.”
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Following World War II, the European continent was left ravished and defenseless. With the rise of the Soviet Union as a threat to democracy, the North Atlantic Treaty Organization (NATO) was formed. -
Last month, the Alaska Legislature narrowly avoided a government shutdown after months of gridlock and frustration by approving a nearly $9 billion operating budget for the upcoming fiscal year.
Events:
October 20th, 2017
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11:00am - 1:30pm:
Regulating Robo-Advisors
Financial “robo advisors”—automated services that rank, or match consumers to, financial products on a personalized basis, sometimes in addition to selling or providing educational information about these products—have gained significant attention in the investment industry. But there has not yet been a consensus on how to regulate them. Robo advisors have the potential to equal or exceed the quality of human advisors, but they don’t fit into the category of fiduciary, and therefore are not currently held to the same regulatory standard that humans advisors are. Nonetheless, they are subject to systemic risks and the potential for abuses that can hurt consumers. This seminar will explore the regulatory challenges involved in fostering a market that promotes the development of more sophisticated robo advisor technology while also serving and protecting the heterogeneous interests of financial product consumers.
