Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of InvestingOxford University Press, 2002 - 368 Seiten Even the best Wall Street investors make mistakes. No matter how savvy or experienced, all financial practitioners eventually let bias, overconfidence, and emotion cloud their judgement and misguide their actions. Yet most financial decision-making models fail to factor in these fundamentals of human nature. In Beyond Greed and Fear, the most authoritative guide to what really influences the decision-making process, Hersh Shefrin uses the latest psychological research to help us understand the human behavior that guides stock selection, financial services, and corporate financial strategy. Shefrin argues that financial practitioners must acknowledge and understand behavioral finance--the application of psychology to financial behavior--in order to avoid many of the investment pitfalls caused by human error. Through colorful, often humorous real-world examples, Shefrin points out the common but costly mistakes that money managers, security analysts, financial planners, investment bankers, and corporate leaders make, so that readers gain valuable insights into their own financial decisions and those of their employees, asset managers, and advisors. According to Shefrin, the financial community ignores the psychology of investing at its own peril. Beyond Greed and Fear illuminates behavioral finance for today's investor. It will help practitioners to recognize--and avoid--bias and errors in their decisions, and to modify and improve their overall investment strategies. |
Inhalt
Chapter | 13 |
The Second Theme | 23 |
The Third Theme | 33 |
Trying to Predict the Market | 45 |
Chapter 6 | 59 |
Picking Stocks to Beat the Market | 69 |
Biased Reactions to Earnings Announcements | 91 |
Individual Investors | 105 |
What Drives Discounts? | 175 |
Framing | 213 |
Corporate Takeovers and the Winners Curse | 227 |
Optimism in Analysts Earnings Predictions | 257 |
Options Futures and Foreign Exchange | 271 |
Final Remarks | 309 |
333 | |
Credits | 351 |
Andere Ausgaben - Alle anzeigen
Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology ... Hersh Shefrin Eingeschränkte Leseprobe - 2002 |
Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology ... Hersh Shefrin Eingeschränkte Leseprobe - 1999 |
Häufige Begriffe und Wortgruppen
analysts assets AT&T average Barron's beat the market behavioral finance benchmark bond Bondt Boston Chicken brokerage chapter Citron closed-end funds coin Copyright December described discount discussed dividends Dow Jones earnings surprises equity evidence expected figure firms forecasts frame dependence fund managers gambler's fallacy growth heuristic heuristic-driven bias hindsight bias implied volatility individual investors inflation interest rates investment issue January Jonathan Clements Jones & Company Journal of Finance July long-term losers loss aversion Louis Rukeyser market efficiency Meir Statman mental accounting Merrill Lynch million mispricing momentum money managers months mutual fund offer options Orange County orange juice overconfidence overreaction percent performance period portfolio predictions premium regret Reprinted by permission retirement returns Richard Thaler rights reserved worldwide risk Robert Robert Citron securities sell Shleifer stock price strategists strategy tend tion toss trading underreact vestors Wall Street Journal Wall Street Week winners
Beliebte Passagen
Seite 333 - Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment.
Verweise auf dieses Buch
Biologically Inspired Algorithms for Financial Modelling Anthony Brabazon,Michael O'Neill Keine Leseprobe verfügbar - 2006 |