Player FM 앱으로 오프라인으로 전환하세요!
Dr. Tom Howard - Behavioral Portfolio Management
Manage episode 302411627 series 1454631
Tune in to hear:
- What event prompted Dr. Howard to move from using a market efficiency / rational markets framework to a framework of behavioral finance?
- How can we discover market inefficiencies that are exploitable if the price is almost always wrong and not reflecting true value?
- If the behavioral dislocations of market prices are so vast, and the price is always wrong, why is the industry so bad at generating persistent returns?
- It appears that the “best ideas” of active managers do out perform the benchmark, but career risk and other incentives cause them to over-diversify. Why are these “best ideas” so powerful?
- When choosing a fund manager - people often approach it by asking an “easy question” such as: how much money do you manage or how long have you been doing this? Why might these not be an optimal measure of their investment proficiency?
- If Dr. Howard were to design a behaviorally-informed manager due diligence process, what would it look like?
- How does Dr. Howard find, select and coach his clients to ensure that they are willing to take on his rather unconventional investment approach?
- Lots of different specialists throw the word behavioral around, but what they are analyzing is often very different.What are the constituent parts of what Dr. Howard would call a behavioral signal?
https://www.athenainvest.com
Compliance Code: 2430-OAS-9/8/2021
287 에피소드
Manage episode 302411627 series 1454631
Tune in to hear:
- What event prompted Dr. Howard to move from using a market efficiency / rational markets framework to a framework of behavioral finance?
- How can we discover market inefficiencies that are exploitable if the price is almost always wrong and not reflecting true value?
- If the behavioral dislocations of market prices are so vast, and the price is always wrong, why is the industry so bad at generating persistent returns?
- It appears that the “best ideas” of active managers do out perform the benchmark, but career risk and other incentives cause them to over-diversify. Why are these “best ideas” so powerful?
- When choosing a fund manager - people often approach it by asking an “easy question” such as: how much money do you manage or how long have you been doing this? Why might these not be an optimal measure of their investment proficiency?
- If Dr. Howard were to design a behaviorally-informed manager due diligence process, what would it look like?
- How does Dr. Howard find, select and coach his clients to ensure that they are willing to take on his rather unconventional investment approach?
- Lots of different specialists throw the word behavioral around, but what they are analyzing is often very different.What are the constituent parts of what Dr. Howard would call a behavioral signal?
https://www.athenainvest.com
Compliance Code: 2430-OAS-9/8/2021
287 에피소드
All episodes
×플레이어 FM에 오신것을 환영합니다!
플레이어 FM은 웹에서 고품질 팟캐스트를 검색하여 지금 바로 즐길 수 있도록 합니다. 최고의 팟캐스트 앱이며 Android, iPhone 및 웹에서도 작동합니다. 장치 간 구독 동기화를 위해 가입하세요.