Max Rimpel

Max Rimpel

New York, New York, United States
5K followers 500+ connections

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Experience

  • General Catalyst Graphic

    General Catalyst

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    London

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    London, Großbritannien

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    Porto Alegre und Umgebung, Brasilien

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    New York City, USA

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    Strasbourg, France

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    Tokyo, Japan

Education

Licenses & Certifications

Volunteer Experience

  • ESCP Europe Graphic

    Student Representative of Master in Management

    ESCP Europe

    Education

  • Delegate for international United Nations (UN) Conferences

    Call On'U

    Human Rights

  • Humboldt University of Berlin Graphic

    Coordinator for Incoming Exchange Students

    Humboldt University of Berlin

    Education

  • Member

    Cornell Graduate Consulting Club

    Education

  • Member

    Cornell Graduate Student Association

    Education

  • ESCP Europe Graphic

    Delegate for graduating class of 2015

    ESCP Europe

    Education

    Elected and named ESCP Europe Alumni Delegate by the Network Commission

Publications

  • New Insights on High-Frequency Trading

    Till the present day, High-Frequency trading has puzzled researchers around the globe. This study offers an up-to date analysis and overview on definitions, underlying strategies and the market impacts of this low-latency subset of Algorithmic Trading. The author managed to interview industry practitioners, thereby lifting part of the black box that High-Frequency Firms created around themselves. The latter thus helped shedding light on some of the gaps and contradictions within the literature,…

    Till the present day, High-Frequency trading has puzzled researchers around the globe. This study offers an up-to date analysis and overview on definitions, underlying strategies and the market impacts of this low-latency subset of Algorithmic Trading. The author managed to interview industry practitioners, thereby lifting part of the black box that High-Frequency Firms created around themselves. The latter thus helped shedding light on some of the gaps and contradictions within the literature, demystifies some common claims by the media and helps guide future research. One of the key findings is that High- Frequency Trading is multi-facetted and varies depending on its underlying strategy, the venue on which it’s traded, surrounding market conditions, the traded asset class, the employed latency, the regulatory framework and the type of trader that employs it.

  • Behavioral Explanations of Home Bias

    For many years people around the world have preferred to invest a large portion of their wealth into domestic assets, which has caught the attention of re-searchers in the field of finance. This observed investment pattern conflicts heavily with the predictions of traditional portfolio theory, leading to a multitude of potential explanations for the phenomenon called “home bias”. Researchers have unsuccessfully tried to find a reason for this investment anomaly. Obstfeld and Rogoff (2000) even…

    For many years people around the world have preferred to invest a large portion of their wealth into domestic assets, which has caught the attention of re-searchers in the field of finance. This observed investment pattern conflicts heavily with the predictions of traditional portfolio theory, leading to a multitude of potential explanations for the phenomenon called “home bias”. Researchers have unsuccessfully tried to find a reason for this investment anomaly. Obstfeld and Rogoff (2000) even called it one of the six major puzzles in macroeconomics.
    French and Poterba (1991), who were the first to document this investment irregularity, divided the potential causes of home bias into two categories: institutional and non-institutional, or behavioral-based. The former has long been the center of attention for home bias researchers. Examples within this class include country-specific risks, restrictions or differences in the legal and institutional framework of a country, transaction costs and investment barriers, and information asymmetries. So far none of these institutional theories has managed to fully explain the extent to which investors tend to forego the benefits of diversification. This has given rise to the rather neglected behavioral-based explanations.
    Despite the well-documented cost of home bias, the liberalization and integration of financial markets, new forms of trading and an enhanced information ex-change between nations, the phenomena of home bias still causes investors to forego the benefits of diversification. And while international investments have indeed increased, investors still hold a disproportionate share of wealth in their home market. The significant extent to which investors tilt their portfolios toward domestic holdings has been documented in almost all countries around the globe.

  • Home Bias in Equity Portfolios

    Seit Jahrzehnten beschäftigt die Präferenz von Investoren in inländische Anlagen die Finanzwissenschaft. So steht dieses Verhaltensmuster im Konflikt mit jeglicher der Portfoliotheorie entspringender Rationalität. Nach dieser verschenken Investoren durch die in der Literatur als home bias bezeichnete Heimataffinität, eine signifikante Reduktion des Risikos. Nur selten divergierten die Vorhersagen der internationalen Portfolioinvestition (siehe u.a. Levy und Sarnat (1970)) so stark und…

    Seit Jahrzehnten beschäftigt die Präferenz von Investoren in inländische Anlagen die Finanzwissenschaft. So steht dieses Verhaltensmuster im Konflikt mit jeglicher der Portfoliotheorie entspringender Rationalität. Nach dieser verschenken Investoren durch die in der Literatur als home bias bezeichnete Heimataffinität, eine signifikante Reduktion des Risikos. Nur selten divergierten die Vorhersagen der internationalen Portfolioinvestition (siehe u.a. Levy und Sarnat (1970)) so stark und konsistent von den empirischen Befunden (u.a. French und Poterba (1991)) der einzelnen Portfoliozusammensetzungen, wie bei diesem Phänomen. Gerade auch deshalb wurde home bias von Obstfeld und Rogoff (2000) zu einem der sechs größten Rätsel der Makroökonomie ernannt.
    Da diese Erscheinung über Ländergrenzen hinweg und selbst bei institutionellen Investoren beobachtet wird, muss es einen rationalen Grund für dieses von der Theorie divergierende Anlageverhalten der Investoren geben. So gibt es in der Finanzliteratur mittlerweile eine Vielzahl an Ansätzen dieses Investitionsmuster der Investoren zu erklären. Zu diesen gehören Informationsasymmetrien, Investitionsbarrieren, psychologische sowie verhaltensbedingte Eigenschaften der einzelnen Investoren, Corporate Governance und länderspezifische Risiken.
    Da mich dieses nur schwer zu erklärende Phänomen begeistert und interessiert, entschloss ich mich im Zuge dieser Seminararbeit näher mit den potenziellen Ursachen des equity home bias zu beschäftigen. Bis heute sind sich die Wissenschaftler nicht über die genaue Ursache einig. Somit ist es wichtig zu verstehen, wieso sich gegenwärtig kein einzelner Erklärungsansatz als breit akzeptierte Begründung der Übergewichtung inländischer Anlagen durchsetzten konnte.

Honors & Awards

  • Honors

    Humboldt-Universitaet zu Berlin

    For being within the top graduates (class of 2013)

  • Winner of the Campus Cup

    Exist-Prime-Cup

    Germany-wide business game competition

  • Certificate of Excellency

    Pamina Gymnasium Herxheim

    Award for best performance in English as a second language within the graduating class of 2010

  • Certificate of Academic Excellence

    Public Academy for Performing Arts, Albuquerque, USA

    Award for graduating having all “A”s

  • Scholarship Holder

    German-French University Association

Languages

  • German

    Native or bilingual proficiency

  • English

    Full professional proficiency

  • Spanish

    Professional working proficiency

  • French

    Limited working proficiency

  • Japanese

    Elementary proficiency

  • Portuguese

    Elementary proficiency

  • Catalan

    Elementary proficiency

Organizations

  • Call On'U

    Member, organizer & participant

    - Present

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