We investigate serial correlation, periodic, aperiodic and scaling behavior of eigenmodes, i.e., daily price fluctuation time-series derived from eigenvectors, of correlation matrices of shares listed on the Johannesburg Stock Exchange (JSE) from January 1993 to December 2002. Periodic, or...

Hierarchical analysis is considered and a multilevel model is presented in order to explore causality, chance and complexity in financial economics. A coupled system of models is used to describe multilevel interactions, consistent with market data: the lowest level is occupied by agents...

We discuss the finding that cross-sectional characteristic based models have yielded portfolios with higher excess monthly returns but lower risk than their arbitrage pricing theory counterparts in an analysis of equity returns of stocks listed on the JSE. Under the assumption of general...

A technique from stochastic portfolio theory [Fernholz, 1998] is applied to analyse equity returns of Small, Mid and Large cap portfolios in an emerging market through periods of growth and regional crises, up to the onset of the global financial crisis. In particular, we factorize portfolios in...

1. Games and simulations in training : factors to consider when designing for adult learners / Courtney Uram, Diane Wilcox, Jane Thall -- 2. Explaining the educational power of games / Timo Lainema, Eeli Saarinen -- 3. Educational simulations : learning from the past and ensuring success in the...

The artificial segmentation of the investment management process into silos of human operators can restrict silos from collectively and adaptively pursuing a unified investment goal. In this article, we argue that the investment process can be accelerated and be made more cohesive by replacing...