Dr. Tom Howard - Behavioral Portfolio Management

Standard Deviations with Dr. Daniel Crosby

Το περιεχόμενο παρέχεται από το Standard Deviations with Dr. Daniel Crosby and Dr. Daniel Crosby. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Standard Deviations with Dr. Daniel Crosby and Dr. Daniel Crosby ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

2+ y ago 47:50

MP3•Αρχική οθόνη επεισοδίου

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?

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