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SUMMARY:Individual investors in the late nineteenth century:  what did the
 y invest in\, and why? - Professor Janette Rutterford\, The Open Universit
 y Business School
DTSTART:20160125T170000Z
DTEND:20160125T183000Z
UID:TALK62049@talks.cam.ac.uk
CONTACT:Dr Duncan Needham
DESCRIPTION:In this paper\, we explore actual portfolios containing 2\,316
  individual securities\, held by a sample of 508 British investors at deat
 h in the period 1870 to 1902. We examine how many securities these investo
 rs held\, whether they diversified\, and how these portfolio characteristi
 cs changed over the period. By so doing\, we can provide data on actual nu
 mbers of securities held in portfolios and begin to analyse the diversific
 ation strategies of individual British investors during the period\, in a 
 pre-portfolio theory and capital asset pricing model world.  We find evide
 nce of an understanding of diversification of risk\, correlation and top d
 own investment management well before these were formally articulated in f
 inancial theory.
LOCATION:Darwin College (Seminar Room\, No. 1 Newnham Terrace - entrance v
 ia Porters Lodge on Silver St)
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