Behavioral Finance and Your Portfolio
A Navigation Guide for Building Wealth
(Sprache: Englisch)
Become a more strategic and successful investor by identifying the biases impacting your decision making.
In Behavioral Finance and Your Portfolio, acclaimed investment advisor and author Michael M. Pompian delivers an insightful and thorough guide...
In Behavioral Finance and Your Portfolio, acclaimed investment advisor and author Michael M. Pompian delivers an insightful and thorough guide...
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Produktinformationen zu „Behavioral Finance and Your Portfolio “
Klappentext zu „Behavioral Finance and Your Portfolio “
Become a more strategic and successful investor by identifying the biases impacting your decision making.In Behavioral Finance and Your Portfolio, acclaimed investment advisor and author Michael M. Pompian delivers an insightful and thorough guide to countering the negative effect of cognitive and behavioral biases on your financial decisions. You'll learn about the "Big Five" behavioral biases and how they're reducing your returns and leading to unwanted and unnecessary costs in your portfolio.
Designed for investors who are serious about maximizing their gains, in this book you'll discover how to:
* Take control of your decision-making--even when challenging markets push greed and fear to intolerable levels
* Reflect on how to make investment decisions using data-backed and substantiated information instead of emotion and bias
* Counter deep-seated biases like loss aversion, hindsight and overconfidence with self-awareness and hard facts
* Identify your personal investment psychology profile, which you can use to inform your future financial decision making
Behavioral Finance and Your Portfolio was created for individual investors, but will also earn a place in the libraries of financial advisors, planners and portfolio managers who are determined to counteract the less principled and data-driven aspects of their decision making.
Inhaltsverzeichnis zu „Behavioral Finance and Your Portfolio “
Preface xvAcknowledgments xxi
About the Author xxiii
Part I Introduction To Behavioral Finance 1
Chapter 1: What is Behavioral Finance and Why Does It Matter? 3
Why Behavioral Finance Matters 5
Behavioral Finance: The Big Picture 6
Standard Finance versus Behavioral Finance 15
Chapter 2: Introduction to Behavioral Biases 23
Introduction 23
Behavioral Biases Defined 24
Why Understanding and Identifying Behavioral Biases is Crucial 25
Categorization of Behavioral Biases 27
Differences between Cognitive and Emotional Biases 27
Difference among Cognitive Biases 28
Emotional Biases 29
A Final Word on Biases 31
Part II Belief Perseverance Biases Defined and Illustrated 33
Chapter 3: Belief Perseverance Bias #1: Cognitive Dissonance Bias 35
Bias Description 35
Am I Subject to Cognitive Dissonance Bias? 38
Investment Advice 39
Chapter 4: Belief Perseverance Bias #2: Conservatism Bias 41
Bias Description 41
Am I Subject to Conservatism Bias? 44
Investment Advice 45
Chapter 5: Belief Perseverance Bias #3: Confirmation Bias 47
Bias Description 47
Am I Subject to Confirmation Bias? 51
Investment Advice 52
Chapter 6: Belief Perseverance Bias #4: Representativeness Bias 55
Bias Description 55
Examples of Representativeness Bias 56
Am I Subject to Representativeness Bias? 60
Investment Advice 62
Chapter 7: Belief Perseverance Bias #5: Illusion-of-Control Bias 65
Bias Description 65
Example of Illusion of Control Bias 66
Am I Subject to Illusion of Control Bias? 69
Investment Advice 70
Chapter 8: Belief Perseverance Bias #6: Hindsight Bias 73
Bias Description 73
Example of Hindsight Bias 74
Am I
... mehr
Subject to Hindsight Bias? 76
Investment Advice 77
Part III: Information Processing Biases Defined and Illustrated 79
Chapter 9: Information Processing Bias #1: Mental Accounting Bias 81
Bias Description 81
Practical Application 83
Am I Subject to Mental Accounting Bias? 85
Investment Advice 88
Chapter 10: Information Processing Bias #2: Anchoring Bias 91
Bias Description 91
Example of Anchoring and Bias 92
Am I Subject to Anchoring Bias? 94
Investment Advice 95
Bonus Discussion: Investment Strategies That Leverage Anchoring Bias 96
Chapter 11: Information Processing Bias #3: Framing Bias 99
Bias Description 99
Example of Framing Bias 101
Am I Subject to Framing Bias? 105
Investment Advice 107
Chapter 12: Information Processing Bias #4: Availability Bias 109
Bias Description 109
Example of Availability Bias 110
Am I Subject to Availability Bias? 113
Investment Advice 114
Chapter 13: Information Processing Bias #5: Self-Attribution Bias 117
Bias Description 117
Example of Self-Attribution Bias 118
Am I Subject to Self-Attribution Bias? 119
Investment Advice 121
Chapter 14: Information Processing Bias #6: Outcome Bias 123
Bias Description 123
Am I Subject to Recency Bias? 125
Chapter 15: Information Processing Bias #7: Recency Bias 129
Bias Description 129
Example of Recency Bias 130
Am I Subject to Recency Bias? 134
Investment Advice 135
&nb
Investment Advice 77
Part III: Information Processing Biases Defined and Illustrated 79
Chapter 9: Information Processing Bias #1: Mental Accounting Bias 81
Bias Description 81
Practical Application 83
Am I Subject to Mental Accounting Bias? 85
Investment Advice 88
Chapter 10: Information Processing Bias #2: Anchoring Bias 91
Bias Description 91
Example of Anchoring and Bias 92
Am I Subject to Anchoring Bias? 94
Investment Advice 95
Bonus Discussion: Investment Strategies That Leverage Anchoring Bias 96
Chapter 11: Information Processing Bias #3: Framing Bias 99
Bias Description 99
Example of Framing Bias 101
Am I Subject to Framing Bias? 105
Investment Advice 107
Chapter 12: Information Processing Bias #4: Availability Bias 109
Bias Description 109
Example of Availability Bias 110
Am I Subject to Availability Bias? 113
Investment Advice 114
Chapter 13: Information Processing Bias #5: Self-Attribution Bias 117
Bias Description 117
Example of Self-Attribution Bias 118
Am I Subject to Self-Attribution Bias? 119
Investment Advice 121
Chapter 14: Information Processing Bias #6: Outcome Bias 123
Bias Description 123
Am I Subject to Recency Bias? 125
Chapter 15: Information Processing Bias #7: Recency Bias 129
Bias Description 129
Example of Recency Bias 130
Am I Subject to Recency Bias? 134
Investment Advice 135
&nb
... weniger
Autoren-Porträt von Michael M. Pompian
MICHAEL M. POMPIAN is Founder and Chief Investment Officer of Sunpointe Investments, an investment advisory and wealth management firm based in St. Louis, Missouri. He is the author of five books on finance, including Advising Ultra-Affluent Clients and Family Offices, Behavioral Finance and Wealth Management, and Behavioral Finance and Investor Types.
Bibliographische Angaben
- Autor: Michael M. Pompian
- 2021, 1. Auflage, 320 Seiten, Maße: 16,1 x 24,5 cm, Gebunden, Englisch
- Verlag: Wiley & Sons
- ISBN-10: 1119801613
- ISBN-13: 9781119801610
Sprache:
Englisch
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