‘You Can Proudly Call Yourself a Strategic Investor, Not a Speculator’
HSE University’s Online Campus is accepting applications for ‘Master of Finance’, an online programme taught in English at the HSE Banking Institute. The design of the online programme meets the needs not only of current students, but also of working professionals who want to expand their knowledge of financial strategies and learn how to increase their investments and diversify risks.
‘In the Master’s programmes “Financial Analyst” and “Master of Finance”, students learn how changes in the financial markets impact the decisions of both private and corporate investors,’ says Vasily Solodkov, Director of the HSE Banking Institute, Academic Supervisor of the Master’s programme ‘Financial Analyst’ and the online ‘Master of Finance’ programme.
The content of the English-language Master’s programme is based on the CFA Candidate Body of Knowledge (CBOK)—the syllabus of the CFA Institute. The CBOK is based on the latest approaches in the study of financial market problems and is updated annually following the results of a survey of the world’s leading employers.
The digital Master’s programme is based on core courses covering all three levels of the CFA syllabus, econometrics, finance theory, as well as elective and specialised disciplines (Financial Reporting and Analysis, Quantitative Methods in Finance, Financial Markets, Corporate Finance, Portfolio Management, Alternative Investments, Derivatives and Financial Engineering, CFA Ethics & Professional Standards).
Training on the programme involves real-time project work with leading industry experts, including holders of CFA, FRM, and ACCA international certificates. This allows online students to solve actual industry cases and receive instant feedback from its leaders.
‘The design of the programmes takes into account the needs of both recent university graduates and professionals who want to improve their knowledge in the field of finance, as well as to preserve and increase their savings,’ says Vasily Solodkov. ‘For example, Dmitry Perkov, Regional Manager at Johnson & Johnson, entered the online Master’s programme to learn how to form and manage an investment portfolio, to understand factor and quantitative investing.’
Dmitry Perkov at the Open Day of the ‘Master of Finance’ online programme:
‘Vasily Solodkov said that a master’s programme is a second chance. I am a living example of such a second chance. I graduated from the Academy of National Economy as a civil servant, but I have never worked in my specialisation—I worked in large, international corporations. Now I head the regional branch of a company in the field of healthcare. But as it turned out, I am a financier at heart. I started investing some time ago, and I realised that I was interested in it. The “Master of Finance” programme provides a comprehensive understanding of financial processes from macro to microeconomics. You begin to understand how key rates and bond yields are related, how the stock market will behave, how this or that phase of the economic cycle or government decision can affect specific things. All this knowledge helps you think far ahead. Thanks to this, you can proudly call yourself a strategic investor, not a speculator, and make informed investment decisions. All of this can be learned here. The programme provides an opportunity to understand how you manage your financial portfolio, as well as learn about modern approaches to risk analysis and investment income assessment.’
The document submission deadline for applications to the ‘Master of Finance’ programme is September 15th.
The course starts on October 1st.
Researchers from VTB and HSE University-St Petersburg have come up with an algorithm for predicting stock price fluctuations in the Russian market by analysing financial news. By making financial projections for next week (or month), the novel STTM (Stock Tonal Topic Modelling) algorithm can help investors build more effective financial strategies. The paper has been published in PeerJ Computer Science.
Having examined the impact of various factors on cryptocurrency returns, HSE economists found that fluctuations in cryptocurrency prices can be better explained by equity market risks than by factors specific to the crypto market, suggesting greater linkages between cryptocurrency and equity markets than previously believed. The study is published in a special issue of International Finance Review.
During his visit to ICEF, Sergey Tsyplakov, a professor in finance at Moore School of Business of the University of South Carolina, delivered a lecture to students and contributed to ICEF-CInSt 11th International Moscow Finance Conference as a keynote speaker. In this interview, Sergey shares what surprised him about ICEF students, why scientific paper reviewing may not always be objective, and why people on Wall Street read academic research.
On October 14, HSE University will host the 11th ICEF-CInSt International Moscow Finance Conference. This year’s event is the result of the joint organisational efforts of the International Laboratory of Financial Economics (LFE ICEF) and the Centre for Institutional Studies (CinSt). Vladimir Sokolov and Maria Semenova, members of the conference's organising committee, spoke to the HSE News Service about the programme and participants of the event.
What risks is the Russian financial system facing today? What is the Central Bank of Russia going to do to mitigate them? Why do we need a high key rate? Has the regulator changed its approach to the building of forex reserves? Will the regulator remain hawkish on cryptocurrencies? Ksenia Yudaeva, First Deputy Governor of the Central Bank of Russia, answered these and other questions during a round table entitled ‘Russia’s Financial Sector under New Global Conditions’. The event was held as part of the XXIII Yasin (April) International Academic Conference.
After analysing the price fluctuations of almost 2,000 cryptocurrencies over seven years, Victoria Dobrynskaya, Associate Professor at the HSE University Faculty of Economic Sciences, found that there are no fundamental differences between their behaviour and that of conventional assets. Cryptocurrency follows the same principles, although its prices change much faster: processes that usually take years on traditional markets take only a month or so on the cryptocurrency market. An article on this research was reprinted by SSRN.
Unusual ways of investment, such as collecting toys, can generate high returns. For example, secondary market prices of retired LEGO sets grow by 11% annually, which is faster than gold, stocks, and bonds, HSE University economists say. Their paper was published in the Research in International Business and Financejournal.
The 10th International Moscow Finance Conference, organized by HSE ICEF, took place on October 29–30 online. Vladimir Sokolov, Head of the International Laboratory of Financial Economics, which hosted the conference, talks about the participants, the key presentation topics and how they will impact the global economy.
Tonka Lange graduated from the HSE International College of Economics and Finance (ICEF) in 2008 and then entered the LSE Master’s programme. After five years of working at Goldman Sachs, she got her MBA at INSEAD and in 2021, started working as Senior Treasury Analyst at Amazon (Singapore). In this interview, Tonka talks about how a finance graduate can survive a crisis, what to do to get the most out of the LSE master’s programme, and the main advantages of an MBA degree.
The Chartered Financial Analyst Institute (CFA Institute) has recognised the HSE online Master of Finance as part of its University Affiliation Program. The status was assigned this year based on the long-standing cooperation between the CFA Institute and the HSE Banking Institute and the confidence international experts have in the quality of education at HSE.