3404569: After-Work Lecture: Finance - A Palace without Ground Floor?

Description

Finance has achieved a high reputation as an academic discipline in the last decades: more than fifteen Nobel awards bear witness to it. There is hardly any other field in social sciences with similar relevance for practical decision making. Nevertheless, modern Finance is grounded on quite poor foundations: Portfolio Theory, the famous CAPM, the widespread techniques of option pricing, etc. All these ideas are based on the concept that Financial Analysis has been done successfully.
But, do we really know what that means? Till now the most important, the most time con-suming, and by far the best paid jobs in the financial industry have not been in the attention of academic textbooks. In his talk Prof. Dr. Klaus Schredelseker will argue why the often neglected foundations of Finance are worth considering.