Eventos > Sessão do Alumni Learning Program

The Covid-19 Crisis: Investing in a (very) volatile environment

The longest bull market in history, as measured by the S&P 500, came to a sudden and dramatic halt on March 12. To add to the drama, the market entered into bear territory (a fall of 20% from its previous all-time high), by plunging 9.5% in a single day. In the month between Feb/19 and Mar/19, the market fell 29%. Many portfolios have been devastated.

What to do in such an environment? Should one sell stocks and find a shelter in bonds? Or sell stocks and find a shelter in gold? Or not sell at all? Or even load up on stocks? This session will discuss the impact of the coronavirus on financial markets, compare it to other volatile periods, discuss the outlook for stock and bond markets, and draw some lessons that will hopefully help investors navigate the current storm.


Javier Estrada
, Professor of Finance at IESE Business School, Spain.

He is also a partner and financial advisor at Sport Global Consulting Investments, an independent financial advisory company; and
he is the sole advisor of the investment strategy of the Alpha Investments mutual fund.
Prof. Estrada holds an M.S. in Finance and a Ph.D. in Economics from the University of Illinois at UrbanaChampaign (USA), and a B.A. in Economics from the National University of La Plata (Buenos Aires, Argentina). His areas of specialization are wealth management, portfolio management, investments, and law & economics.

Prof. Estrada held positions at both the Economics Department and the Finance Department at Carlos III University (Madrid, Spain). He is also a regular visiting professor at HANKEN (Helsinki, Finland), IPADE (Mexico City, Mexico), Torcuato Di Tella University (Buenos Aires, Argentina), and the University of Montevideo (Montevideo, Uruguay), and has lectured on diverse topics and audiences around the world.
Prof. Estrada is the author of Finance in a Nutshell (FT Prentice Hall, 2005), originally written in English and subsequently translated into Spanish, Italian, and Chinese; a second edition of this book was published in 2011, is entitled The FT Guide to Understanding Finance, and was translated into Korean. He is also the author of The Essential Financial Toolkit – Everything You Always Wanted To Know About Finance But Were
Afraid To Ask (Palgrave Macmillan, 2011).

Prof. Estrada has done extensive research on the areas of portfolio management, investment strategies, and risk; he has also done research on emerging markets and insider trading. His articles have been published in the Journal of Portfolio Management, the Journal of Investing, the Journal of Asset Management, and the Journal of Wealth Management, among other journals. His research has been discussed on the Wall Street Journal, the Financial Times, Forbes, Barron’s, Morningstar, and on several blogs. He was also the founding editor of the Emerging Markets Review and was editor of the journal between inception in 2000 and 2006.

Prof. Estrada is a member of the CFA Institute’s Speaker Retainer Program; teaches open-enrollment programs and several courses on Personal Finance and Wealth Management; and was a tennis instructor.





Membros do Agrupamento de Alumni da AESE | Gratuito
Alumni e Geral | 40 €


10 de novembro de 2020


Das 18:00 às 19:00

Data limite de inscrição

9 de novembro de 2020

Ficha de inscrição


Luís Dias
Tlf (+351) 217 221 530


Luís Dias
Tlf (+351) 217 221 530