Antti Petajisto is the co-author of How active is your fund manager? A new measure that predicts performance in which he famously created a statistic called ‘active share’. This paper was downloaded from SSRN (Social Science Research Network) over 30,000 times. For a considerable amount of time this was the most downloaded paper on the network. Now, Antti, Head of Equities at Brooklyn Investment Group, will be giving CFA UK members insights on his latest paper on concentrated stock positions.
Contrary to standard investment advice, many high-net-worth investors hold concentrated individual stock positions exceeding 10%. While most investors realise this increases portfolio volatility, they may not understand that it contributes negatively to portfolio returns.
Since 1926 a startling truth has revealed that the median individual US stock has consistently underperformed the broader equity market over ten-year periods, by –7.9%, or –0.82% per year.
But fear not! Antti will help you understand the untapped potential of diversification, ensuring that you and your clients avoid any unexpected drag on portfolio returns.
Registration: 16:55
Event: 17:00 - 18:00
Speaker
Antti Petajisto, PhD, Head of Equities, Brooklyn Investment GroupClick here to view our event terms and conditions.