Investment Management: A Science to Teach or an Art to Learn

126 Pages Posted: 1 Mar 2015

See all articles by Frank J. Fabozzi

Frank J. Fabozzi

EDHEC Business School

Sergio Focardi

The Intertek Group

Caroline Jonas

CFA Institute Research Foundation

Date Written: May 1, 2014

Abstract

Following the 2007-09 financial crisis, mainstream finance theory was criticized for failing to forecast the market crash, which resulted in large losses for investors. Has our finance theory, which many consider an idealization that does not take reality into account, failed investors? Do we need to reconsider the theory and how it is taught (and practiced)? This book explores current critiques of mainstream theory and discusses implications for the curricula of finance programs as well as for practitioners. In so doing, the authors integrate a review of the literature supported by conversations with finance professors, asset managers, and other market players.

Keywords: market crash, finance, theory, teaching finance

JEL Classification: A20, G10, G00

Suggested Citation

Fabozzi, Frank J. and Focardi, Sergio and Jonas, Caroline, Investment Management: A Science to Teach or an Art to Learn (May 1, 2014). CFA Institute Research Foundation Monograph. Available at SSRN: https://ssrn.com/abstract=2571320

Frank J. Fabozzi (Contact Author)

EDHEC Business School ( email )

France
215 598-8924 (Phone)

Sergio Focardi

The Intertek Group ( email )

Caroline Jonas

CFA Institute Research Foundation ( email )

United States

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