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Lecture 2 – Portfolio Diversification and Role of Derivatives
FINC3012 - Derivative Securities
1 Found helpful • 9 Pages • Topic Notes • Year: Pre-2021
Lecture 2 – Portfolio Diversification and Role of Derivatives Portfolio: • A group of investments • If a portfolio’s returns are normally distributed, only two measures are needed to describe its return distribution: o Standard deviation o Expected rate of return Mean-Variance Preferences: • Situations where expected returns and standard deviations are sufficient to approximate investor preferences: o Returns are normally distributed o Quadratic utility function
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