Traditional economic and finance models failed to predict and have yet to explain our current global economy. Yet we continue to rely on these linear models and mathematics to understand the dynamics of financial markets to help us exploit opportunity and mitigate financial risk. Despite a general appreciation of the increasing interconnectedness and dynamic nature of our complex global economy the industry has been slow to examine and incorporate tools and methodologies that reflect this complexity. An examination of complexity allowed us to better understand "once in a lifetime" events that have characterized the world economy in the past twenty years, understanding complexity can allow us to better predict these events moving into the future to design more effective financial strategies.
Ren Cheng is senior research advisor for Fidelity Management & Research Company. Mr. Cheng assumed his current position in the Asset Allocation Division of FMRCo in 2009 and is responsible for working with investment teams across the company on asset allocation and research. He joined Fidelity in 1994 and invented and developed the concept of Target Date Funds from 1994 to 1996. He served as the first manager of the Fidelity Freedom funds from 1996 until 2007. He also started and managed the first national level 529 College Investment Funds, The Fidelity UNIQUE 529 portfolios in 1998. Mr. Cheng acted as managing director of the Global Asset Allocation group from 2005 until assuming the role of chief investment officer of the Global Asset Allocation Group in 2007. Prior to joining Fidelity, Mr. Cheng spent nine years at Putnam Investments, leaving the company as a senior vice president and senior portfolio manager. At Putnam, he was responsible for managing risk-controlled asset allocation portfolios for U.S. and international institutional clients.
Please RSVP to Michele Rapp, Career Services, mrapp at suffolk dot edu; this talk will be on Suffolk's Boston campus
"A vast majority of chief executives said the rapid escalation of 'complexity' is the biggest challenge confronting them ..." it's no longer about the change gap; it's now about the complexity gap", Saul Berman, an executive for IBM Global Business Services. (Wall Street Journal, 5/18/10)