A simple approach to behavioural finance

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Author :
Publisher : Stefano Calicchio
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.2/5 (28 download)

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Book Synopsis A simple approach to behavioural finance by : Stefano Calicchio

Download or read book A simple approach to behavioural finance written by Stefano Calicchio and published by Stefano Calicchio. This book was released on 2022-01-06 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is behavioural finance and how does it work? How can it help investors achieve better performance? Why has it become so important in recent years? Quickly learning the basics of behavioural finance and applying it to your own investments has never been easier. For the first time, a comprehensive and accessible guide shows you the theoretical and operational principles of the subject. Within this practical handbook you will discover all the information you need to truly understand how psychology and the study of human behaviour has embraced the world of economics and finance. The reader will learn step by step how to confront the new theories of behavioural economics without hesitation. You will discover through direct information and essential strategies that can broaden your view of financial markets, how they work and the applications for managing your investments.

The Little Book of Behavioral Investing

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Publisher : John Wiley & Sons
ISBN 13 : 0470712031
Total Pages : 243 pages
Book Rating : 4.4/5 (77 download)

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Book Synopsis The Little Book of Behavioral Investing by : James Montier

Download or read book The Little Book of Behavioral Investing written by James Montier and published by John Wiley & Sons. This book was released on 2010-03-30 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed guide to overcoming the most frequently encountered psychological pitfalls of investing Bias, emotion, and overconfidence are just three of the many behavioral traits that can lead investors to lose money or achieve lower returns. Behavioral finance, which recognizes that there is a psychological element to all investor decision-making, can help you overcome this obstacle. In The Little Book of Behavioral Investing, expert James Montier takes you through some of the most important behavioral challenges faced by investors. Montier reveals the most common psychological barriers, clearly showing how emotion, overconfidence, and a multitude of other behavioral traits, can affect investment decision-making. Offers time-tested ways to identify and avoid the pitfalls of investor bias Author James Montier is one of the world's foremost behavioral analysts Discusses how to learn from our investment mistakes instead of repeating them Explores the behavioral principles that will allow you to maintain a successful investment portfolio Written in a straightforward and accessible style, The Little Book of Behavioral Investing will enable you to identify and eliminate behavioral traits that can hinder your investment endeavors and show you how to go about achieving superior returns in the process. Praise for The Little Book Of Behavioral Investing "The Little Book of Behavioral Investing is an important book for anyone who is interested in understanding the ways that human nature and financial markets interact." —Dan Ariely, James B. Duke Professor of Behavioral Economics, Duke University, and author of Predictably Irrational "In investing, success means¿being on the right side of most trades. No book provides a better starting point toward that goal than this one." —Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School "'Know thyself.' Overcoming human instinct is key to becoming a better investor.¿ You would be irrational if you did not read this book." —Edward Bonham-Carter, Chief Executive and Chief Investment Officer, Jupiter Asset Management "There is not an investor anywhere who wouldn't profit from reading this book." —Jeff Hochman, Director of Technical Strategy, Fidelity Investment Services Limited "James Montier gives us a very accessible version of why we as investors are so predictably irrational, and a guide to help us channel our 'Inner Spock' to make better investment decisions. Bravo!" —John Mauldin, President, Millennium Wave Investments

A Behavioral Approach to Asset Pricing

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Author :
Publisher : Elsevier
ISBN 13 : 0080482244
Total Pages : 636 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis A Behavioral Approach to Asset Pricing by : Hersh Shefrin

Download or read book A Behavioral Approach to Asset Pricing written by Hersh Shefrin and published by Elsevier. This book was released on 2008-05-19 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory. The second edition continues the tradition of the first edition by being the one and only book to focus completely on how behavioral finance principles affect asset pricing, now with its theory deepened and enriched by a plethora of research since the first edition

Popularity: A Bridge between Classical and Behavioral Finance

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Publisher : CFA Institute Research Foundation
ISBN 13 : 1944960619
Total Pages : 118 pages
Book Rating : 4.9/5 (449 download)

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Book Synopsis Popularity: A Bridge between Classical and Behavioral Finance by : Roger G. Ibbotson

Download or read book Popularity: A Bridge between Classical and Behavioral Finance written by Roger G. Ibbotson and published by CFA Institute Research Foundation. This book was released on 2018 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classical and behavioral finance are often seen as being at odds, but the idea of “popularity” has been introduced as a way of reconciling the two approaches. Investors like or dislike various characteristics of securities for rational reasons (as in classical finance) or irrational reasons (as in behavioral finance), which makes the assets popular or unpopular. In the capital markets, popular (unpopular) securities trade at prices that are higher (lower) than they would be otherwise; hence, the shares may provide lower (higher) expected returns.This book builds on this idea and expands it in two major ways. First, it introduces a rigorous asset pricing model, the popularity asset pricing model (PAPM), which adds investor preferences for security characteristics other than the risk and expected return that are part of the capital asset pricing model. A major conclusion of the PAPM is that the expected return of any security is a linear function of not only its systematic risk (beta) but also of all security characteristics that investors care about. The other major contribution of the book is new empirical work that, while confirming the well-known premiums (such as size, value, and liquidity) in a popularity context, supports the popularity hypothesis on the basis of portfolios of stocks based on such characteristics as brand value, sustainable competitive advantage, and reputation. Popularity unifies the factors that affect price in classical finance with those that drive price in behavioral finance, thus creating a unifying theory or bridge between classical and behavioral finance.

Behavioural Investing

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470687797
Total Pages : 740 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Behavioural Investing by : James Montier

Download or read book Behavioural Investing written by James Montier and published by John Wiley & Sons. This book was released on 2009-10-09 with total page 740 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioural investing seeks to bridge the gap between psychology and investing. All too many investors are unaware of the mental pitfalls that await them. Even once we are aware of our biases, we must recognise that knowledge does not equal behaviour. The solution lies is designing and adopting an investment process that is at least partially robust to behavioural decision-making errors. Behavioural Investing: A Practitioner’s Guide to Applying Behavioural Finance explores the biases we face, the way in which they show up in the investment process, and urges readers to adopt an empirically based sceptical approach to investing. This book is unique in combining insights from the field of applied psychology with a through understanding of the investment problem. The content is practitioner focused throughout and will be essential reading for any investment professional looking to improve their investing behaviour to maximise returns. Key features include: The only book to cover the applications of behavioural finance An executive summary for every chapter with key points highlighted at the chapter start Information on the key behavioural biases of professional investors, including The seven sins of fund management, Investment myth busting, and The Tao of investing Practical examples showing how using a psychologically inspired model can improve on standard, common practice valuation tools Written by an internationally renowned expert in the field of behavioural finance

A simple approach to equity investing

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Author :
Publisher : Stefano Calicchio
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.2/5 (28 download)

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Book Synopsis A simple approach to equity investing by : Stefano Calicchio

Download or read book A simple approach to equity investing written by Stefano Calicchio and published by Stefano Calicchio. This book was released on 2022-01-29 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do equity investments work? How do you trade on financial markets? What are stock market indices? What strategies can be used to invest in equities? Questions such as these are becoming increasingly common in the age of global markets. Today, investing on your own has become easier from an operational point of view, but the world of finance remains difficult and complicated for the uninitiated to understand. For the first time, a comprehensive and accessible guide shows you the theoretical and operational principles of the subject. In this practical handbook, you will discover the information you need to really understand what stocks are, what are the basic operating strategies in the markets and what are the main mistakes to avoid if you are just starting out. Readers will learn step by step how to deal with stock markets, how technical and fundamental analysis work and what the implications of money management strategies are for their investments. But at the same time, this guide is also a path to discovering one's own nature as an investor, to finally begin to understand what you can get out of stock markets.

Behavioral Finance and Investor Types

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1118235606
Total Pages : 262 pages
Book Rating : 4.1/5 (182 download)

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Book Synopsis Behavioral Finance and Investor Types by : Michael M. Pompian

Download or read book Behavioral Finance and Investor Types written by Michael M. Pompian and published by John Wiley & Sons. This book was released on 2012-05-22 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Achieve investing success by understanding your behavior type This groundbreaking book shows how to invest wisely by managing your behavior, and not just your money. Step by step, Michael Pompian (a leading authority in the practical application of Behavioral Finance concepts to wealth management) helps you plan a strategy targeted to your personality. The book includes a test for determining your investment type and offers strategies you can put into use when investing. It also includes a brief history of the stock market, and easy-to-comprehend information about stocks and investing to help you lay a solid foundation for your investment decisions. Behavioral Finance and Investor Types is divided into two parts. Test Your Type, gives an overview of Behavioral Finance as well as the elements that come into play when figuring out BIT, like active or passive traits, risk tolerance, and biases. The book includes a quiz to help you discover what category you are in. Plan and Act, contains the traits common to your type; an analysis of the biases associated with your type; and strategies and solutions that compliment and capitalize on your BIT. Offers a practical guide to an investing strategy that fits both your financial situation and your personality type Includes a test for determining your tolerance for risk and other traits that will determine your investment type Written by the Director of the Private Wealth Practice for Hammond Associates—an investment consulting firm serving institutional and private wealth clients Behavioral Finance and Investor Types offers investors a better sense of what drives them and what puts on their breaks. By using the information found here, you'll quickly become savvy about the world of investing because you'll come to understand your place in it.

BEHAVIOURAL FINANCE

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Author :
Publisher : PHI Learning Pvt. Ltd.
ISBN 13 : 9389347130
Total Pages : 240 pages
Book Rating : 4.3/5 (893 download)

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Book Synopsis BEHAVIOURAL FINANCE by : SINGH, RANJIT

Download or read book BEHAVIOURAL FINANCE written by SINGH, RANJIT and published by PHI Learning Pvt. Ltd.. This book was released on 2019-09-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioural Finance is a comprehensive textbook intended especially for the management students. It has been designed to polish their decision-making skills in the context of finance and investment decisions. The book provides a balanced presentation of theoretical concepts of behavioural finance and their practical orientation. This book emphasises the application of concepts through case studies and suitable examples in local context. The textbook deals with the concepts of behavioural finance along with its specialised sub-areas. Apart from providing a basic understanding of the concepts in behavioural finance, the book extensively covers the new developments in the area of behavioural finance. Recent researches in different sub-areas of behavioural finance are also given in the “Learning Centre” section on our website www.phindia.com for the benefit of budding scholars. Each chapter starts with a quotation to sensitise readers with the theme of the chapter. To facilitate the understanding of concepts in behavioural finance, the text in each chapter is interspersed with suitable examples. In every chapter, real life case studies are given which again make the book very lucid and understandable. Besides, the learning objectives and introduction that unfold the chapter, the summary at each chapter-end to provide an eagle's eye to the topics discussed are also given. With every chapter, student activities, topics for group discussion, student assignment, and review questions are given to facilitate revision. To assist the readers traverse through the chapters without missing crucial details, the chapters are provided with a number of side-boxes that collect the essence of important sections. PowerPoint slides are available for the instructors who adopt this textbook. TARGET AUDIENCE • Students of MBA/PGDM

A simple approach to passive investing

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Author :
Publisher : Stefano Calicchio
ISBN 13 :
Total Pages : 102 pages
Book Rating : 4.2/5 (213 download)

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Book Synopsis A simple approach to passive investing by : Stefano Calicchio

Download or read book A simple approach to passive investing written by Stefano Calicchio and published by Stefano Calicchio. This book was released on 2022-08-11 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are passive investments and how do they work? Why build lazy portfolios and for what purposes? What tools are used and what strategies can be implemented with passive investments? Quickly learning the basics of passive investing and building lazy portfolios that will grow over time has never been easier. For the first time, a comprehensive and accessible guide shows you the theoretical and operational principles of the subject. Within this practical handbook you will discover all the information you need to truly understand what passive investments are and what roles they can play in the life of an investor. The reader will learn step by step how to approach passive replication, the use of ETFs and the use of multi-factor strategies without hesitation. You will thus discover through straightforward and essential information strategies that can broaden your view of financial investments, how they work and their applications for managing your capital.

Investor Behavior

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Publisher : John Wiley & Sons
ISBN 13 : 1118492986
Total Pages : 645 pages
Book Rating : 4.1/5 (184 download)

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Book Synopsis Investor Behavior by : H. Kent Baker

Download or read book Investor Behavior written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2014-02-10 with total page 645 pages. Available in PDF, EPUB and Kindle. Book excerpt: WINNER, Business: Personal Finance/Investing, 2015 USA Best Book Awards FINALIST, Business: Reference, 2015 USA Best Book Awards Investor Behavior provides readers with a comprehensive understanding and the latest research in the area of behavioral finance and investor decision making. Blending contributions from noted academics and experienced practitioners, this 30-chapter book will provide investment professionals with insights on how to understand and manage client behavior; a framework for interpreting financial market activity; and an in-depth understanding of this important new field of investment research. The book should also be of interest to academics, investors, and students. The book will cover the major principles of investor psychology, including heuristics, bounded rationality, regret theory, mental accounting, framing, prospect theory, and loss aversion. Specific sections of the book will delve into the role of personality traits, financial therapy, retirement planning, financial coaching, and emotions in investment decisions. Other topics covered include risk perception and tolerance, asset allocation decisions under inertia and inattention bias; evidenced based financial planning, motivation and satisfaction, behavioral investment management, and neurofinance. Contributions will delve into the behavioral underpinnings of various trading and investment topics including trader psychology, stock momentum, earnings surprises, and anomalies. The final chapters of the book examine new research on socially responsible investing, mutual funds, and real estate investing from a behavioral perspective. Empirical evidence and current literature about each type of investment issue are featured. Cited research studies are presented in a straightforward manner focusing on the comprehension of study findings, rather than on the details of mathematical frameworks.

The Behavior Gap

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Publisher : Penguin
ISBN 13 : 1101559551
Total Pages : 179 pages
Book Rating : 4.1/5 (15 download)

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Book Synopsis The Behavior Gap by : Carl Richards

Download or read book The Behavior Gap written by Carl Richards and published by Penguin. This book was released on 2012-01-03 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: "It's not that we're dumb. We're wired to avoid pain and pursue pleasure and security. It feels right to sell when everyone around us is scared and buy when everyone feels great. It may feel right-but it's not rational." -From The Behavior Gap Why do we lose money? It's easy to blame the economy or the financial markets-but the real trouble lies in the decisions we make. As a financial planner, Carl Richards grew frustrated watching people he cared about make the same mistakes over and over. They were letting emotion get in the way of smart financial decisions. He named this phenomenon-the distance between what we should do and what we actually do-"the behavior gap." Using simple drawings to explain the gap, he found that once people understood it, they started doing much better. Richards's way with words and images has attracted a loyal following to his blog posts for The New York Times, appearances on National Public Radio, and his columns and lectures. His book will teach you how to rethink all kinds of situations where your perfectly natural instincts (for safety or success) can cost you money and peace of mind. He'll help you to: • Avoid the tendency to buy high and sell low; • Avoid the pitfalls of generic financial advice; • Invest all of your assets-time and energy as well as savings-more wisely; • Quit spending money and time on things that don't matter; • Identify your real financial goals; • Start meaningful conversations about money; • Simplify your financial life; • Stop losing money! It's never too late to make a fresh financial start. As Richards writes: "We've all made mistakes, but now it's time to give yourself permission to review those mistakes, identify your personal behavior gaps, and make a plan to avoid them in the future. The goal isn't to make the 'perfect' decision about money every time, but to do the best we can and move forward. Most of the time, that's enough."

Inefficient Markets

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Publisher : OUP Oxford
ISBN 13 : 0191606898
Total Pages : 295 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis Inefficient Markets by : Andrei Shleifer

Download or read book Inefficient Markets written by Andrei Shleifer and published by OUP Oxford. This book was released on 2000-03-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents and empirically evaluates models of such inefficient markets. Behavioral finance models both explain the available financial data better than does the efficient markets hypothesis and generate new empirical predictions. These models can account for such anomalies as the superior performance of value stocks, the closed end fund puzzle, the high returns on stocks included in market indices, the persistence of stock price bubbles, and even the collapse of several well-known hedge funds in 1998. By summarizing and expanding the research in behavioral finance, the book builds a new theoretical and empirical foundation for the economic analysis of real-world markets.

Handbook of the Economics of Finance

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Publisher : Elsevier
ISBN 13 : 9780444513632
Total Pages : 698 pages
Book Rating : 4.5/5 (136 download)

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Book Synopsis Handbook of the Economics of Finance by : G. Constantinides

Download or read book Handbook of the Economics of Finance written by G. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitrage, State Prices and Portfolio Theory / Philip h. Dybvig and Stephen a. Ross / - Intertemporal Asset Pricing Theory / Darrell Duffle / - Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance / Wayne E. Ferson / - Consumption-Based Asset Pricing / John y Campbell / - The Equity Premium in Retrospect / Rainish Mehra and Edward c. Prescott / - Anomalies and Market Efficiency / William Schwert / - Are Financial Assets Priced Locally or Globally? / G. Andrew Karolyi and Rene M. Stuli / - Microstructure and Asset Pricing / David Easley and Maureen O'hara / - A Survey of Behavioral Finance / Nicholas Barberis and Richard Thaler / - Derivatives / Robert E. Whaley / - Fixed-Income Pricing / Qiang Dai and Kenneth J. Singleton.

Advances in Behavioral Finance

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Publisher : Russell Sage Foundation
ISBN 13 : 9780871548443
Total Pages : 628 pages
Book Rating : 4.5/5 (484 download)

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Book Synopsis Advances in Behavioral Finance by : Richard H. Thaler

Download or read book Advances in Behavioral Finance written by Richard H. Thaler and published by Russell Sage Foundation. This book was released on 1993-08-19 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern financial markets offer the real world's best approximation to the idealized price auction market envisioned in economic theory. Nevertheless, as the increasingly exquisite and detailed financial data demonstrate, financial markets often fail to behave as they should if trading were truly dominated by the fully rational investors that populate financial theories. These markets anomalies have spawned a new approach to finance, one which as editor Richard Thaler puts it, "entertains the possibility that some agents in the economy behave less than fully rationally some of the time." Advances in Behavioral Finance collects together twenty-one recent articles that illustrate the power of this approach. These papers demonstrate how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. To take several examples, Werner De Bondt and Thaler find an explanation for superior price performance of firms with poor recent earnings histories in the tendencies of investors to overreact to recent information. Richard Roll traces the negative effects of corporate takeovers on the stock prices of the acquiring firms to the overconfidence of managers, who fail to recognize the contributions of chance to their past successes. Andrei Shleifer and Robert Vishny show how the difficulty of establishing a reliable reputation for correctly assessing the value of long term capital projects can lead investment analysis, and hence corporate managers, to focus myopically on short term returns. As a testing ground for assessing the empirical accuracy of behavioral theories, the successful studies in this landmark collection reach beyond the world of finance to suggest, very powerfully, the importance of pursuing behavioral approaches to other areas of economic life. Advances in Behavioral Finance is a solid beachhead for behavioral work in the financial arena and a clear promise of wider application for behavioral economics in the future.

Behavioral Finance and Wealth Management

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1118046315
Total Pages : 393 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Behavioral Finance and Wealth Management by : Michael M. Pompian

Download or read book Behavioral Finance and Wealth Management written by Michael M. Pompian and published by John Wiley & Sons. This book was released on 2011-01-31 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Pompian is handing you the magic book, the one that reveals your behavioral flaws and shows you how to avoid them. The tricks to success are here. Read and do not stop until you are one of very few magicians." —Arnold S. Wood, President and Chief Executive Officer, Martingale Asset Management Fear and greed drive markets, as well as good and bad investment decision-making. In Behavioral Finance and Wealth Management, financial expert Michael Pompian shows you, whether you're an investor or a financial advisor, how to make better investment decisions by employing behavioral finance research. Pompian takes a practical approach to the science of behavioral finance and puts it to use in the real world. He reveals 20 of the most prominent individual investor biases and helps you properly modify your asset allocation decisions based on the latest research on behavioral anomalies of individual investors.

Behavioral Finance: The Second Generation

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Author :
Publisher : CFA Institute Research Foundation
ISBN 13 : 1944960864
Total Pages : 257 pages
Book Rating : 4.9/5 (449 download)

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Book Synopsis Behavioral Finance: The Second Generation by : Meir Statman

Download or read book Behavioral Finance: The Second Generation written by Meir Statman and published by CFA Institute Research Foundation. This book was released on 2019-12-02 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral finance presented in this book is the second-generation of behavioral finance. The first generation, starting in the early 1980s, largely accepted standard finance’s notion of people’s wants as “rational” wants—restricted to the utilitarian benefits of high returns and low risk. That first generation commonly described people as “irrational”—succumbing to cognitive and emotional errors and misled on their way to their rational wants. The second generation describes people as normal. It begins by acknowledging the full range of people’s normal wants and their benefits—utilitarian, expressive, and emotional—distinguishes normal wants from errors, and offers guidance on using shortcuts and avoiding errors on the way to satisfying normal wants. People’s normal wants include financial security, nurturing children and families, gaining high social status, and staying true to values. People’s normal wants, even more than their cognitive and emotional shortcuts and errors, underlie answers to important questions of finance, including saving and spending, portfolio construction, asset pricing, and market efficiency.

The Devil's Financial Dictionary

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Author :
Publisher : PublicAffairs
ISBN 13 : 1610396065
Total Pages : 257 pages
Book Rating : 4.6/5 (13 download)

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Book Synopsis The Devil's Financial Dictionary by : Jason Zweig

Download or read book The Devil's Financial Dictionary written by Jason Zweig and published by PublicAffairs. This book was released on 2015-10-13 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your Survival Guide to the Hades of Wall Street The Devil's Financial Dictionary skewers the plutocrats and bureaucrats who gave us exploding mortgages, freakish risks, and banks too big to fail. And it distills the complexities, absurdities, and pomposities of Wall Street into plain truths and aphorisms anyone can understand. An indispensable survival guide to the hostile wilderness of today's financial markets, The Devil's Financial Dictionary delivers practical insights with a scorpion's sting. It cuts through the fads and fakery of Wall Street and clears a safe path for investors between euphoria and despair. Staying out of financial purgatory has never been this fun.