Practical analysis for investment professionals

behavioral finance


C. Thomas Howard: “View the Markets as They Are”

C. Thomas Howard, an opponent of the efficient markets hypothesis, advocates for a radical departure from the idea of diversification at the core of a healthy portfolio.

Lie Detection in a Post-Truth World

"Everybody knows we are in a post-truth world," deception detection expert Pamela Meyer told delegates at the 70th CFA Institute Annual Conference in Philadelphia. "People will tell you anything." So what are the verbal and nonverbal clues indicating someone might be deceiving us?

The Active Equity Renaissance: Behavioral Financial Markets

Jason Voss, CFA, and C. Thomas Howard have questioned many orthodoxies of modern portfolio theory (MPT). But what do they propose to take their place? Behavioral finance.

To Compete with Robos, Advisers Must Become Financial Physicians

Can robo-advisers replace human advisers? Not if the goal of the relationship is to increase clients' well-being, says Meir Statman. Why? Because that requires human interaction.

The Active Equity Renaissance: The Rise and Fall of MPT

After the dust settles, virtually nothing of modern portfolio theory (MPT) will remain, asserts C. Thomas Howard and Jason Voss, CFA. The three pillars on which MPT rests have been toppled, and it is time to move on. There is an alternative way to view securities markets, their movements, and their participants: behavioral finance.

Weekend Reads for Investors: Brain Gain Edition

In this week's edition of Weekend Reads for Investors, Jason Voss, CFA, features articles about an unlikely encounter with George Soros, the intractability of the human mind, the environmental effects of nanotechnology, and translating our emotions into words.

The Active Equity Renaissance: Rejecting a Broken 1970s Model

Collectively, active equity delivers no value to its investors and, in fact, extracts value from them. So what can be done to launch an active equity renaissance?

Weekend Reads for Investors: Happy New Year Edition

Jason Voss, CFA, shares his curated list of Weekend Reads for Investors. Featured stories explore the fake news epidemic, peer into one of the world's most successful and secretive hedge funds, and estimate the daily operating costs of the Death Star.

Best of 2016: India and Behavioral Finance

There have been many stand-out pieces this year on behavioral finance and finance in India. Shreenivas Kunte, CFA, highlights the selections that most influenced his thinking.

Weekend Reads for Investors: Post-Election Pick-Me-Up

Jason Voss, CFA, provides his picks for this week's edition of Weekend Reads. This post-US presidential election pick-me-up features principles of non-violent communication, the dangers of p-values, time crystals, and more.



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