USE OF THE BLACK-LITTERMAN MODEL IN PORTFOLIO OPTIMIZATION FOR ACTIVE INVESTORS ON STOCKS IN LQ45 INDEX

In these modern era, it is very easy to create an investment portfolio, portfolio can be formed by buying a shares. By creating investation, our expect score return which makes advantage. However, there also risk value that will obtained when buy the formation of for active investors, expected optimal are many models used portfolio. this final project, discusses use Black-Litterman Model in optimizing portfolios investors. The model one optimize provides additional information and values based on views experts. This builds MV CAPM using Bayesian framework allows investors effectively incorporate their market into allocation process asset. Based several tests have been carried out during research with different days, investor's view always every day, optimistic good impact stock, even though stock price falling, if expressed optimism, weight shares remain high.