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The University of Southampton
Centre for Risk Research

Learning through Trading: A Risk Perspective Seminar

Time:
13:00 - 14:00
Date:
4 November 2014
Venue:
Room 1025 (H) Building 58 University of Southampton

For more information regarding this seminar, please telephone Dr. Ian G.J. Dawson on +44 (0) 238059 8094 or email i.g.dawson@soton.ac.uk .

Event details

Ming-Wei Hsu, a PhD student in the Centre for Risk Research, will present a seminar in which he examines the influence of trading experience on decision making behaviours in financial markets.

Ming-Wei has examined the degree to which individuals learn to improve their trading performance. He has analysed 8,441,805 trades from 28,061 spread-traders over a 10-year period. He has found that with more experience, traders make higher returns but take greater risks, resulting in a lower risk-adjusted (Sharpe ratio) performance. This conclusion holds after accounting for selection bias and survivorship bias. This is the first study to examine learning effects using individual level empirical trading data from a risk perspective.

Ming-Wei was awarded a BSc and an MSc in Computer Science from National Taiwan University. He then joined a software company, CyberLink, and worked as an engineer for 5 years. Subsequently, he was awarded an MSc in Accounting and Management from the University of Southampton. He is now a PhD student at Southampton Business School studying the effects of trading experience in financial markets. His research is supervised by Professor Ming-Chien Sung, Professor Johnnie Johnson and Dr Tiejun Ma.

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