Current Issue
Volume 22, No. 4, Fourth Quarter 2024
The Future of Derivatives Research: Modeling Risk and Return Dynamics II
We are delighted to present the second special issue of the Journal of Investment Management, commemorating the 50th anniversary of the revolutionary Black-Merton-Scholes (BMS) option pricing model. This edition builds upon the themes of our first special issue, which featured Robert Merton’s keynote address and pivotal contributions from various scholars. In this issue, we have the privilege of highlighting the keynote delivered by Nobel Laureate Myron Scholes, whose insights continue to shape financial theory and practice.
Introduction
Douglas Breeden, John Hull and Sanjay Nawalkha
Black–Merton–Scholes Option Pricing: A 50-Year Celebration—Looking Ahead
George M. Constantinides
ARTICLES
Hedging Barrier Options Using Reinforcement Learning
Jacky Chen, Yu Fu, John Hull, Zissis Poulos, Zeyu Wang and Jun Yuan
Training Machines to Trade Stocks
Dilip B. Madan and King Wang
Fooled by the Black Swan
Sanjay K. Nawalkha
Arbitrage Pricing Theory 50 Years After Black Merton Scholes
Robert A. Jarrow
BOOK REVIEW
Book Review – Mutual Fund Selection: From Theory to Practice
By Moshe Levy and Richard Roll (Reviewed by Ming Xian)
Upcoming JOIM events:
AI in Finance II
April 21 – 23, 2025 / Santa Clara University
This conference will focus on the latest developments in AI in finance. More generally, talks will also cover important issues currently under debate in the AI ecosystem that are relevant for investment management. Topics such as the role of closed and open AI, responsible AI, and the future of the workplace will be discussed.
https://joim.com/conference-series/
Call for Papers
The JOIM is currently accepting manuscript submissions in the area of investment management and related fields for a special issue series. Data Science including Artificial Intelligence Analysis, Asset allocation, Machine Learning / FinTech, Optimization, Behavioral Finance, Retirement Investing and Liquidity are of particular interest.
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