w88 casino News Network (provided by the w88 casino of Finance)2021At 19:00 on the evening of April 22, 2019, the Financial Culture Festival Lecture Series - Financial People’s International Perspectives themed lecture was held in the form of an online Tencent conference. The speaker this time is Professor Xu Rong, professor and doctoral supervisor at the w88 casino of Finance, Renmin University of China. Professor Xu Rong’s main academic research directions are investment, corporate finance,Use of insurance funds, financial markets and financial institutions. Professor Xu has published books such as "Research on the Governance Function of Insurance Institutions", "Research on the Investment Banking Function in Supervision and Market Game", "Asset Pricing and Macroeconomic Fluctuations", and published papers40Remaining articles, more in the future2017The first class appointed to Renmin University of China“Outstanding Scholar”. In this lecture, Professor Xu Rong gave the students a wonderful speech about the international perspective that people should have and the century-old debate between active investment and passive investment, which received warm welcome and positive response from the students.
In the lecture, Professor Xu Rong mainly focused on three aspects: Buffett's ten-year bet with hedge fund managers, analysis of whether professional fund managers can overcome market problems, and relevant suggestions on how to learn investment efficiently and start independent research as soon as possible.
Professor Xu Rong first raised the question from the investment rate of return and introduced several different investment rates of return: ideal investment rate of return, necessary investment rate of return, simple arithmetic average rate of return, geometric average rate of return and time-weighted rate of return. He talked about the calculation and adjustment of the ideal investment rate of return. Professor Xu Rong used the example of the ten-year bet between stock god Buffett and professional fund managers, and combined with data comparison, the video supplement concretely demonstrated the weirdness and uncertainty of the stock investment market. We came to the conclusion that in the era of information explosion, we should always maintain an international perspective and look at the financial market and conduct investment and transaction activities calmly with international financial undertakings.
In addition, Professor Xu Rong also focused on the relationship between fund managers and the market in the second part. He started from the literature, briefly presented the research ideas, and focused on analyzing Professor Baker's paper, revealing that the income of fund managers is determined by the market equilibrium state. This enables students to realize more intuitively that the trading market is unshakable by individual abilities. In the third part, Professor Xu Rong launched a discussion on how to learn investment efficiently and conduct independent research as early as possible. He emphasized the importance and practical significance of classic textbooks, extensive exercises, and original research respectively. He pointed out that only through in-depth mastery and understanding of classic textbooks can we lay a solid foundation for investment logic, establish a large and sophisticated thinking framework, and overlook the financial market from a calm and changeable perspective: Only by truly implementing actual operations and through a large number of exercises and input and output can we master practical skills in the early stages and accumulate relevant experience to help improve our investment success rate in future employment positions. He recommended investment and trading simulation software to us and encouraged us to try more and practice more. Finally, Professor Xu Rong emphasized that original research should not be forgotten when conducting investment learning and research practice, and encouraged students to carry out relevant original research work this morning.
After Professor Xu Rong’s wonderful speech, the students combined the professor’s explanation and their own understanding to think deeply, and actively participated in interactive questions. The professor patiently answered questions one by one, gave students guidance, and further deepened the students’ interest and understanding of investment.
In this lecture, Professor Xu Rong led the students to discuss the international perspective that financial people should have and the century-old debate between active investment and passive investment. While expanding students' understanding of economic and financial issues, they also have a deeper understanding of the current economic situation, clarify their responsibilities and obligations as a financial person, and cultivate everyone's international outlook.
