《智慧型投顧——大數據智慧型驅動投顧創新》是清華大學出版社於2021年出版的書籍
基本介紹
- 中文名：智慧型投顧——大數據智慧型驅動投顧創新
- 作者：鄭小林、賁聖林
- 出版社：清華大學出版社
- 出版時間：2021年2月1日
- 定價：59 元
- ISBN：9787302564751
內容簡介,目錄,
內容簡介
本書圍繞智慧型投顧的前世與今生、概念與理論、商業模式與技術、智慧型投顧的監管、生態以及未來發展趨勢進行歸納與分析。全書共9章。第1章闡釋智慧型投顧的誕生，涉及金融科技概念、人工智慧概念等；第2章介紹智慧型投顧涉及的技術、覆蓋範圍等；第3章闡釋智慧型投顧的概念及投資流程；第4～6章從微觀角度介紹智慧型投顧的商業模式與技術支持，涉及智慧型投顧的服務對象、投資標的、推廣，傳統經濟學、統計學、行為學背景下智慧型投顧中的投資理論，以及人工智慧和金融科技背景下智慧型投顧的前沿金融智慧型技術；第7章和第8章從巨觀角度介紹智慧型投顧的政策支持與生態系統；第9章對智慧型投顧做出總結和展望。
目錄
第1章 智慧型投顧的誕生
案例：Betterment的誕生 ·················2
1.1 金融科技的興盛 ·····················3
1.1.1 金融科技的概念 ················4
1.1.2 金融科技的全球發展態勢 ·····5
1.1.3 金融科技在中國 ················9
1.2 人工智慧的崛起 ···················13
1.2.1 人工智慧的概念 ···············14
1.2.2 人工智慧的全球發展態勢 ····14
1.2.3 人工智慧在中國 ···············18
1.2.4 人工智慧投融資狀況 ··········19
1.3 智慧型投顧應運而生 ················20
1.4 本書概覽····························21
本章小結 ··································22
參考文獻 ··································22
第2章 智慧型投顧的歷史與發展現狀
案例：中美智慧型投顧發展比較 ········25
2.1 智慧型投顧的發展歷史 ·············27
2.1.1 標籤過濾階段 ··················29
2.1.2 用戶風險承受能力測試階段···29
2.1.3 個性化投資組合推薦階段 ····30
2.1.4 全自動智慧型投顧階段 ··········31
2.2 智慧型投顧產業全球的發展現狀 ··31
2.2.1 全球智慧型投顧發展數據總覽···31
2.2.2 美洲 ······························33
2.2.3 歐洲 ······························37
2.2.4 亞洲 ······························39
2.3 智慧型投顧在中國 ···················40
2.3.1 中國的智慧型投顧平台現狀 ····40
2.3.2 中國智慧型投顧行業發展現狀···42
2.3.3 中國智慧型投顧的發展機遇 ····47
本章小結 ··································49
參考文獻 ··································50
第3章 智慧型投顧的概念與投資流程
案例：Betterment的投資流程 ·········53
3.1 智慧型投顧的概念 ···················54
3.1.1 傳統的投資顧問 ···············54
3.1.2 智慧型投資顧問 ··················55
3.1.3 智慧型投顧的作用 ···············58
3.2 智慧型投顧的投資流程 ·············60
3.2.1 客戶分析 ························61
3.2.2 大類資產配置 ··················63
3.2.3 投資組合選擇 ··················65
3.2.4 交易執行 ························66
3.2.5 投資組合再選擇 ···············67
3.2.6 稅負管理 ························69
3.2.7 組合分析 ························70
本章小結 ··································70
參考文獻 ··································71
第4章 智慧型投顧的商業模式
案例：Betterment的商業模式 ·········73
4.1 智慧型投顧的目標客戶 ·············74
4.1.1 中產及中產以下收入人群 ····75
4.1.2 金融專業人士 ··················77
4.2 智慧型投顧的投資標的 ·············78
4.2.1 常見的投資標的 ···············78
4.2.2 新興的投資標的 ···············81
4.3 智慧型投顧的業務模式 ·············82
4.3.1 全自動與半自動投顧 ··········83
4.3.2 投資平台與相關智慧型服務 ····87
4.3.3 大類資產配置、投資策略與社交跟投等 ··················88
4.4 智慧型投顧的行銷模式 ·············89
4.4.1 打造明星產品 ··················90
4.4.2 分級客戶群匹配服務，提高服務水平 ··················91
4.4.3 利用大數據進行精準行銷 ····91
4.5 智慧型投顧的盈利模式 ·············92
4.5.1 前端收費模式 ··················93
4.5.2 後端盈利模式 ··················94
本章小結 ··································94
參考文獻 ··································95
第5章 智慧型投顧理論入門
案例：馬科維茨理論的產生 ···········98
5.1 馬科維茨投資組合理論 ··········99
5.1.1 現代投資組合理論概述 ·······99
5.1.2 投資組合的可行集和有效集 ·························100
5.1.3 均值方差分析方法···········101
5.2 資本資產定價模型 ···············102
5.2.1 CAPM假設條件 ·············103
5.2.2 分離定理 ······················104
5.2.3 資本市場線與證券市場線 ··106
5.3 套利定價理論 ·····················107
5.3.1 APT概述······················107
5.3.2 因素模型 ······················108
5.3.3 套利定價理論 ················110
5.4 行為金融學 ························111
5.4.1 行為金融學的概念···········112
5.4.2 行為金融學的套用實例 ·····114
5.5 投資過程評價 ·····················115
5.5.1 收益類指標 ···················115
5.5.2 風險類指標 ···················116
本章小結 ·································118
參考文獻 ·································118
第6章 智慧型投顧中的人工智慧技術
案例：嘉信智慧型理財 ···················121
6.1 大數據融合技術 ··················121
6.1.1 大數據融合的背景···········122
6.1.2 多源數據融合技術···········123
6.2 投資客戶偏好畫像 ···············125
6.2.1 用戶畫像的定義 ·············126
6.2.2 用戶畫像的生成流程 ········128
6.2.3 客戶畫像的核心工作——打標籤 ·························129
6.3 量化投資技術 ·····················130
6.3.1 量化投資的概念 ·············130
6.3.2 機器學習套用到量化投資中 ·························131
6.3.3 深度學習套用到量化投資中 ·························135
6.4 投資組合配置技術 ···············138
6.4.1 問題定義 ······················138
6.4.2 二次規劃 ······················140
6.4.3 強化學習 ······················142
6.5 投資風險控制技術 ···············144
6.5.1 風險的定義 ···················145
6.5.2 風險測量—方差···········145
6.5.3 風險測量—VaR ···········146
6.6 NLP在智慧型金融領域中的套用 ································147
6.6.1 智慧型金融領域現有需求 ·····148
6.6.2 NLP的金融套用場景 ·······149
6.6.3 NLP在金融領域套用案例 ····························153
本章小結 ·································155
參考文獻 ·································156
第7章 智慧型投顧的風險、監管和政策支持
案例：真假智慧型投顧 ···················160
7.1 中國智慧型投顧的風險 ············161
7.1.1 智慧型投顧的風險構成 ········161
7.1.2 智慧型投顧的風險預警 ········163
7.1.3 智慧型投顧平台的風險指數體系 ······················164
7.2 智慧型投顧的監管難點 ············167
7.2.1 賬戶實際控制人認定困難 ··168
7.2.2 一致行動人 ···················168
7.2.3 監管法律體系不完善 ········168
7.2.4 智慧型投顧行為邊界判定 ·····169
7.3 海外智慧型投顧的監管經驗 ······170
7.3.1 美國的智慧型投顧監管 ········170
7.3.2 英國的智慧型投顧監管：監管沙盒 ······················171
7.3.3 澳洲的智慧型投顧監管 ········177
7.3.4 新加坡的智慧型投顧監管 ·····180
7.3.5 不同國家智慧型投顧的監管體系比較 ······················183
7.4 中國智慧型投顧的監管體系 ······185
7.4.1 智慧型投顧監管框架···········185
7.4.2 智慧型投顧的監管路徑 ········187
7.5 中國智慧型投顧的政府支持 ······192
7.5.1 智慧型投顧發展過程中的政府政策 ······················192
7.5.2 《資管新規》對智慧型投顧的影響 ···················193
7.5.3 學界對智慧型投顧的支持 ·····195
本章小結 ·································196
參考文獻 ·································196
第8章 智慧型投顧的生態系統
案例：新加坡的金融科技生態系統 ···199
8.1 金融科技生態系統 ···············200
8.2 智慧型投顧生態系統的概念與構成 ································203
8.2.1 智慧型投顧生態系統的概念 ··203
8.2.2 智慧型投顧生態系統的生態主體 ······················206
8.2.3 智慧型投顧生態系統中的產業鏈關係 ···················213
8.3 智慧型投顧生態系統的維護和最佳化 ································217
8.3.1 國內智慧型投顧生態系統存在的缺陷 ···················217
8.3.2 智慧型投顧生態系統的最佳化辦法 ······················218
本章小結 ·································220
參考文獻 ·································220
第9章 智慧型投顧的未來
案例：螞蟻集團—從FinTech到TechFin，BASIC科技戰略打造摺疊式生態體系 ························223
9.1 人工智慧的發展新階段 ·········223
9.2 智慧型投顧大腦 ·····················225
9.3 AI驅動的理性機器經濟人 ······227
9.4 智慧型投顧的未來發展趨勢 ······229
9.4.1 商業模式發展趨勢···········229
9.4.2 智慧型投顧技術發展趨勢 ·····230
9.4.3 智慧型投顧監管發展趨勢 ·····231
9.5 開放銀行與虛擬銀行 ············232
9.5.1 開放銀行 ······················232
9.5.2 虛擬銀行 ······················233
本章小結 ·································234
參考文獻 ·································234
