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CATEGORIES:Financial History Seminar
SUMMARY:Individual investors in the late nineteenth centur
 y:  what did they invest in\, and why? - Professor
  Janette Rutterford\, The Open University Business
  School
DTSTART;TZID=Europe/London:20160125T170000
DTEND;TZID=Europe/London:20160125T183000
UID:TALK62049AThttp://talks.cam.ac.uk
URL:http://talks.cam.ac.uk/talk/index/62049
DESCRIPTION:In this paper\, we explore actual portfolios conta
 ining 2\,316 individual securities\, held by a sam
 ple of 508 British investors at death in the perio
 d 1870 to 1902. We examine how many securities the
 se investors held\, whether they diversified\, and
  how these portfolio characteristics changed over 
 the period. By so doing\, we can provide data on a
 ctual numbers of securities held in portfolios and
  begin to analyse the diversification strategies o
 f individual British investors during the period\,
  in a pre-portfolio theory and capital asset prici
 ng model world.  We find evidence of an understand
 ing of diversification of risk\, correlation and t
 op down investment management well before these we
 re formally articulated in financial theory.
LOCATION:Darwin College (Seminar Room\, No. 1 Newnham Terra
 ce - entrance via Porters Lodge on Silver St)
CONTACT:Dr Duncan Needham
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