{"id":3783,"date":"2026-04-27T16:10:15","date_gmt":"2026-04-27T16:10:15","guid":{"rendered":"https:\/\/pension-research.is\/?p=3783"},"modified":"2026-04-27T20:09:39","modified_gmt":"2026-04-27T20:09:39","slug":"fyrirlestur-um-notkun-tolfaerdi-vid-fjarstyringu-i-thjodminjasafninu24-juni-12-13-30","status":"publish","type":"post","link":"https:\/\/pension-research.is\/en\/fyrirlestur-um-notkun-tolfaerdi-vid-fjarstyringu-i-thjodminjasafninu24-juni-12-13-30\/","title":{"rendered":"Fyrirlestur um notkun t\u00f6lfr\u00e6\u00f0i vi\u00f0 fj\u00e1rst\u00fdringu \u00ed \u00dej\u00f3\u00f0minjasafninu, 25. j\u00fan\u00ed, 12-13.30."},"content":{"rendered":"<p style=\"text-align: center;\" data-start=\"102\" data-end=\"189\"><strong data-start=\"102\" data-end=\"189\">Marco Bianchi<\/strong><\/p>\n<p style=\"text-align: center;\" data-start=\"102\" data-end=\"189\">Vernd fj\u00e1rmagns gegn marka\u00f0hruni:<br data-start=\"138\" data-end=\"141\" \/>V\u00e9lan\u00e1msn\u00e1lgun (machine learning) vi\u00f0 kerfisbundna \u00e1h\u00e6ttust\u00fdringu<\/p>\n<p data-start=\"191\" data-end=\"683\">\u00cd \u00feessum fyrirlestri er kynnt a\u00f0fer\u00f0 sem nefnist <em data-start=\"240\" data-end=\"280\">Turning Point Dates Capital Protection<\/em> (TP Dates CP), \u00e1h\u00e6ttust\u00fdringarlausn sem er s\u00e9rstaklega h\u00f6nnu\u00f0 fyrir langt\u00edmafj\u00e1rfesta sem halda einungis l\u00f6ngum st\u00f6\u00f0um, svo sem l\u00edfeyrissj\u00f3\u00f0i og a\u00f0ra stofnanafj\u00e1rfesta. Kerfi\u00f0 byggir \u00e1 v\u00e9lan\u00e1mi, mynsturgreiningu og m\u00e6likv\u00f6r\u00f0um \u00far atferlisfj\u00e1rm\u00e1lum til a\u00f0 einfalda um 250 vi\u00f0skiptadaga \u00e1rsins ni\u00f0ur \u00ed f\u00e1einar fyrirfram skilgreindar dagsetningar \u00fear sem l\u00edkur \u00e1 verulegum marka\u00f0slei\u00f0r\u00e9ttingum eru auknar.<\/p>\n<p data-start=\"685\" data-end=\"899\">\u00deessir m\u00f6gulegu vendipunktar eru \u00e1kvar\u00f0a\u00f0ir fyrirfram, skr\u00e1\u00f0ir og ekki endursko\u00f0a\u00f0ir (innan \u00b11 dags vikmarks), og tengdir vi\u00f0 samsvarandi ver\u00f0m\u00f6rk yfir t\u00edma sem gegna hlutverki stu\u00f0nings- og vi\u00f0n\u00e1msl\u00edna \u00e1 m\u00f6rku\u00f0um.<\/p>\n<p data-start=\"901\" data-end=\"1309\">A\u00f0fer\u00f0in byggir \u00e1 \u00feeirri grundvallarhugmynd a\u00f0 gr\u00f3\u00f0as\u00f3kn og \u00f3tti fj\u00e1rfesta skapi endurtekin og samstillt hringr\u00e1sarmynstur sem unnt er a\u00f0 sp\u00e1 fyrir um fram \u00ed t\u00edmann. \u00cd bakpr\u00f3funum sem n\u00e1 yfir meira en tvo \u00e1ratugi hefur a\u00f0fer\u00f0in bent \u00e1 \u00e1h\u00e6ttus\u00f6m t\u00edmabil, me\u00f0al annars \u00ed kringum COVID-falli\u00f0 \u00e1ri\u00f0 2020, bjarnarmarka\u00f0inn 2022 og sveiflur \u00e1rsins 2025. Jafnframt hefur h\u00fan gefi\u00f0 gagnleg merki um hagkv\u00e6m kaupinnskot.<\/p>\n<p data-start=\"1311\" data-end=\"1524\">S\u00fa fj\u00e1rfestingarstefna sem af \u00feessu lei\u00f0ir er innleidd me\u00f0 l\u00e1gmarks\u00edhlutun \u2014 yfirleitt me\u00f0 notkun seljanlegra framvirkra samninga og valr\u00e9tta \u2014 \u00e1n \u00feess a\u00f0 \u00feurfa a\u00f0 selja kjarnast\u00f6\u00f0ur e\u00f0a bera verulegan vi\u00f0skiptakostna\u00f0.<\/p>\n<p data-start=\"1526\" data-end=\"1830\">\u00cd fyrirlestrinum ver\u00f0ur fjalla\u00f0 um fr\u00e6\u00f0ilegan grunn a\u00f0fer\u00f0arinnar, vinnsluferli byggt \u00e1 v\u00e9lan\u00e1mi og gervigreind, \u00e1rangur yfir mismunandi eignaflokka (hlutabr\u00e9fav\u00edsit\u00f6lur, einst\u00f6k hlutabr\u00e9f, skuldabr\u00e9f, hr\u00e1v\u00f6rur og gjaldeyri), sem og hagn\u00fdta lei\u00f0 til a\u00f0 sam\u00fe\u00e6tta t\u00f3li\u00f0 inn \u00ed n\u00faverandi eignast\u00fdringarferla.<\/p>\n<p data-start=\"103\" data-end=\"477\">Dr. Marco Bianchi er stofnandi MMB Advisers \u00ed London og hefur \u00e1 meira en \u00ferj\u00e1t\u00edu \u00e1ra ferli unni\u00f0 a\u00f0 megindlegum ranns\u00f3knum og kerfisbundnum fj\u00e1rfestingaa\u00f0fer\u00f0um. Hann lauk doktorspr\u00f3fi \u00ed t\u00f6lfr\u00e6\u00f0i og hagm\u00e6lingum fr\u00e1 London School of Economics og hefur hloti\u00f0 Eurohedge-ver\u00f0launin \u00e1ri\u00f0 2003, auk \u00feess a\u00f0 hafa veri\u00f0 \u00ed \u00f6\u00f0ru s\u00e6ti \u00e1ri\u00f0 2006 fyrir kerfisbundnar hlutabr\u00e9faa\u00f0fer\u00f0ir. Hann hefur gegnt lykilst\u00f6\u00f0um hj\u00e1 Se\u00f0labanka Englands, Citigroup og Barclays Capital. Jafnframt var hann me\u00f0stofnandi og forst\u00f6\u00f0uma\u00f0ur megindlegrar greiningar hj\u00e1 Ethus \u00e1 \u00e1runum 2017\u20132025. Ranns\u00f3knir hans hafa birst \u00ed virtum al\u00fej\u00f3\u00f0legum t\u00edmaritum \u00e1 bor\u00f0 vi\u00f0 <em data-start=\"737\" data-end=\"763\">American Economic Review<\/em>, <em data-start=\"765\" data-end=\"791\">European Economic Review<\/em>, <em data-start=\"793\" data-end=\"826\">Journal of Applied Econometrics<\/em> og <em data-start=\"830\" data-end=\"873\">Journal of Business &amp; Economic Statistics<\/em>. N\u00faverandi vi\u00f0fangsefni hans l\u00fata a\u00f0 \u00fer\u00f3un gervigreindardrifinna (e. machine learning) l\u00edkana til a\u00f0 sp\u00e1 fyrir um marka\u00f0sfall, hagfr\u00e6\u00f0i t\u00edmara\u00f0a og a\u00f0fer\u00f0um vi\u00f0 \u00e1h\u00e6ttust\u00fdringu fyrir eignas\u00f6fn stofnanafj\u00e1rfesta.<\/p>","protected":false},"excerpt":{"rendered":"<p>Marco Bianchi Vernd fj\u00e1rmagns gegn marka\u00f0hruni:V\u00e9lan\u00e1msn\u00e1lgun (machine learning) vi\u00f0 kerfisbundna \u00e1h\u00e6ttust\u00fdringu \u00cd \u00feessum fyrirlestri er kynnt a\u00f0fer\u00f0 sem nefnist Turning Point Dates Capital Protection (TP Dates CP), \u00e1h\u00e6ttust\u00fdringarlausn sem er s\u00e9rstaklega h\u00f6nnu\u00f0 fyrir langt\u00edmafj\u00e1rfesta sem halda einungis l\u00f6ngum st\u00f6\u00f0um, svo sem l\u00edfeyrissj\u00f3\u00f0i og a\u00f0ra stofnanafj\u00e1rfesta. Kerfi\u00f0 byggir \u00e1 v\u00e9lan\u00e1mi, mynsturgreiningu og m\u00e6likv\u00f6r\u00f0um \u00far atferlisfj\u00e1rm\u00e1lum til [&hellip;]<\/p>","protected":false},"author":3,"featured_media":3789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,11],"tags":[],"class_list":["post-3783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oflokkad","category-vidburdir","wpbf-post"],"acf":[],"_links":{"self":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/3783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/comments?post=3783"}],"version-history":[{"count":11,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/3783\/revisions"}],"predecessor-version":[{"id":3803,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/posts\/3783\/revisions\/3803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/media\/3789"}],"wp:attachment":[{"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/media?parent=3783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/categories?post=3783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pension-research.is\/en\/wp-json\/wp\/v2\/tags?post=3783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}