Archivio per 17 luglio 2013

17
Lug
13

Behavioral Portfolio Management: An Alternative to Modern Portfolio Theory

See on Scoop.itBounded Rationality and Beyond

Seeking to bridge the divide between modern portfolio theory and behavioral finance, is C. Thomas Howard’s“Behavioral Portfolio Management.” Howard is professor emeritus at Daniels College of Business, University of Denver, and co-founder of AthenaInvest. Application of his behavioral portfolio management has resulted in Athena’s longest running portfolio, Athena Pure Valuation, generating a return over 11 years of 26.1%. Compare that to the Russell 2000 benchmark, which returned 10.6%. Further, Athena Pure is the top performing portfolio in the country over this time period when compared to the active equity mutual fund universe.

See on blogs.cfainstitute.org

17
Lug
13

Behavioral Portfolio Management: An Alternative to Modern Portfolio Theory

See on Scoop.itBounded Rationality and Beyond

Seeking to bridge the divide between modern portfolio theory and behavioral finance, is C. Thomas Howard’s“Behavioral Portfolio Management.” Howard is professor emeritus at Daniels College of Business, University of Denver, and co-founder of AthenaInvest. Application of his behavioral portfolio management has resulted in Athena’s longest running portfolio, Athena Pure Valuation, generating a return over 11 years of 26.1%. Compare that to the Russell 2000 benchmark, which returned 10.6%. Further, Athena Pure is the top performing portfolio in the country over this time period when compared to the active equity mutual fund universe.

See on blogs.cfainstitute.org

17
Lug
13

Freshwater, saltwater and deepwater: efficient market hypothesis versus behavioural finance

See on Scoop.itBounded Rationality and Beyond

The efficient market hypothesis (EMH) and behavioural finance (BF) form the blame-hope axis of the ongoing soul-searching exercise in economics, which frequently refers to the ‘Chicago School’ and the ideological division between ‘freshwater’ and ‘saltwater’ universities. Citation analysis for 1965–2010 shows that these simple geographical shorthands do not apply, as saltwater economists heavily cited the seminal EMH papers from the beginning and vice versa. BF lags behind EMH in terms of the quantity, dynamics, scope and international reach of citations. BF is far from stealing a march on the EMH and the latter is still used as the benchmark.

See on joeg.oxfordjournals.org

17
Lug
13

Freshwater, saltwater and deepwater: efficient market hypothesis versus behavioural finance

See on Scoop.itBounded Rationality and Beyond

The efficient market hypothesis (EMH) and behavioural finance (BF) form the blame-hope axis of the ongoing soul-searching exercise in economics, which frequently refers to the ‘Chicago School’ and the ideological division between ‘freshwater’ and ‘saltwater’ universities. Citation analysis for 1965–2010 shows that these simple geographical shorthands do not apply, as saltwater economists heavily cited the seminal EMH papers from the beginning and vice versa. BF lags behind EMH in terms of the quantity, dynamics, scope and international reach of citations. BF is far from stealing a march on the EMH and the latter is still used as the benchmark.

See on joeg.oxfordjournals.org




Time is real? I think not

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