Maxime Merli
Biographic Data
| ID | 1026013 |
|---|---|
| NAME | Maxime Merli |
| GIVEN NAMES | Maxime |
| FAMILY NAME | Merli |
| SIGNATURE | MERLI M |
| AFFILIATIONS | LaRGE Research Center, EM Strasbourg Business School, University of Strasbourg, Strasbourg, France |
| ORCID | 0000-0003-3507-941X |
| VERIFIED | Yes |
| TOTAL WORKS | 4 |
| TOTAL CITATIONS | 11 |
| AUTHOR COUNT | 4 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2006 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 1 |
Early Evidence of “Finance for Normal People” in the First Era of Globalization
In this paper, we unearth a forgotten study of Pierre Des Essars, the director of research at the Banque de France in the late 19th century, enriched with comments from contemporary financial analysts. Des Essars provides the first and only existing example of the actual composition of French individual portfolios during the Belle Époque . By revisiting what is generally taught, our analyses show that many of the intuitions of “finance for normal…
Portfolio advice before modern portfolio theory: The Belle Epoque of French analyst Alfred Neymarck
In this article, we propose an original analysis of advice given by financial analysts prior to WW1. Our article focuses on the writings of A. Neymarck, one of the most popular French analysts in the early 20th Century. The creation of portfolios from a new database composed of the monthly returns of all the security types listed on the official Paris Stock Exchange from 1903 to 1912 has provided results demonstrating that Neymarck correctly iden…
An Optimal World Portfolio on the Eve of World War I: Was There a Bias to Investing in the New World Rather Than in Europe
The geographical distributions of French and British foreign investment portfolios differ markedly before World War I. Did French portfolios favor European investments just as British portfolios favored “New World” assets? Should economic rationality have encouraged investors to invest widely in the “New World” rather than in Europe? Combining Modern Portfolio Theory and a new data set comprising assets listed on the Paris and London Stock Exchan…
Théorie comportementale du portefeuille: Intérêt et limites
Resume Cet article aborde l’evolution recente de la theorie des choix de portefeuille dominee, depuis un demi-siecle, par l’approche moyenne/variance. Une premiere section est dediee aux anomalies observees sur les marches et mises en lumiere par de nombreuses etudes empiriques. Ces anomalies, ainsi que les recherches academiques portant sur les limites de la theorie de l’esperance d’utilite, ont conduit au developpement de modeles dits « comport…
An Optimal World Portfolio on the Eve of World War I: Was There a Bias to Investing in the New World Rather Than in Europe
The geographical distributions of French and British foreign investment portfolios differ markedly before World War I. Did French portfolios favor European investments just as British portfolios favored “New World” assets? Should economic rationality have encouraged investors to invest widely in the “New World” rather than in Europe? Combining Modern Portfolio Theory and a new data set comprising assets listed on the Paris and London Stock Exchan…
Portfolio advice before modern portfolio theory: The Belle Epoque of French analyst Alfred Neymarck
In this article, we propose an original analysis of advice given by financial analysts prior to WW1. Our article focuses on the writings of A. Neymarck, one of the most popular French analysts in the early 20th Century. The creation of portfolios from a new database composed of the monthly returns of all the security types listed on the official Paris Stock Exchange from 1903 to 1912 has provided results demonstrating that Neymarck correctly iden…
Théorie comportementale du portefeuille: Intérêt et limites
Resume Cet article aborde l’evolution recente de la theorie des choix de portefeuille dominee, depuis un demi-siecle, par l’approche moyenne/variance. Une premiere section est dediee aux anomalies observees sur les marches et mises en lumiere par de nombreuses etudes empiriques. Ces anomalies, ainsi que les recherches academiques portant sur les limites de la theorie de l’esperance d’utilite, ont conduit au developpement de modeles dits « comport…
Théorie comportementale du portefeuille: Intérêt et limites
Resume Cet article aborde l’evolution recente de la theorie des choix de portefeuille dominee, depuis un demi-siecle, par l’approche moyenne/variance. Une premiere section est dediee aux anomalies observees sur les marches et mises en lumiere par de nombreuses etudes empiriques. Ces anomalies, ainsi que les recherches academiques portant sur les limites de la theorie de l’esperance d’utilite, ont conduit au developpement de modeles dits « comport…
An Optimal World Portfolio on the Eve of World War I: Was There a Bias to Investing in the New World Rather Than in Europe
The geographical distributions of French and British foreign investment portfolios differ markedly before World War I. Did French portfolios favor European investments just as British portfolios favored “New World” assets? Should economic rationality have encouraged investors to invest widely in the “New World” rather than in Europe? Combining Modern Portfolio Theory and a new data set comprising assets listed on the Paris and London Stock Exchan…
Portfolio advice before modern portfolio theory: The Belle Epoque of French analyst Alfred Neymarck
In this article, we propose an original analysis of advice given by financial analysts prior to WW1. Our article focuses on the writings of A. Neymarck, one of the most popular French analysts in the early 20th Century. The creation of portfolios from a new database composed of the monthly returns of all the security types listed on the official Paris Stock Exchange from 1903 to 1912 has provided results demonstrating that Neymarck correctly iden…
Early Evidence of “Finance for Normal People” in the First Era of Globalization
In this paper, we unearth a forgotten study of Pierre Des Essars, the director of research at the Banque de France in the late 19th century, enriched with comments from contemporary financial analysts. Des Essars provides the first and only existing example of the actual composition of French individual portfolios during the Belle Époque . By revisiting what is generally taught, our analyses show that many of the intuitions of “finance for normal…
Economics (3 works) · Financial economics (2 works) · Financial Markets and Investment Strategies (2 works) · Global Financial Crisis and Policies (2 works) · History (2 works) · History (2 works) · Portfolio (2 works) · Stock (firearms (2 works) · Actuarial science (1 works) · Advice (programming (1 works)