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Behavioral Finance and Wealth Management: How to Build Optimal Portfolios That Account for Investor Biases Hardcover – April 7 2006

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Product description

From the Inside Flap

Although fear and greed have always driven the markets—— as well as good and bad investment decision-making—— behavioral finance as a discipline has only recently attracted serious attention from both financial professionals and investors. Given the run up in stock prices during the late 1990s, and the subsequent popping of the technology bubble, understanding investor behavior is now more important than ever.

As a wealth manager and practitioner at the forefront of the practical application of behavioral finance, Michael Pompian understands the behavioral biases that investors have. Through his experiences, he has discovered specific ways to adjust investment programs for these biases, and now he shares these findings in Behavioral Finance and Wealth Management.

Comprising four distinct parts, Behavioral Finance and Wealth Management is a comprehensive guide to both understanding irrational investor behavior and creating portfolios for individual investors that account for these behaviors.

Part One provides a straightforward introduction to the practical application of behavioral finance. These chapters include an overview of what behavioral finance is on an individual level, a history of behavioral finance, and an introduction to incorporating investor behavior into the asset allocation process.

Part Two contains a detailed review of some of the most commonly found biases, complete with general and technical descriptions, practical applications, research reviews, implications for investors, diagnostic tests, and advice on managing the effects of each bias.

Part Three takes the concepts presented in the first two parts and pulls them together in the form of case studies, which clearly demonstrate how practitioners and investors can use behavioral finance in real-world settings.

Part Four explores some special topics in the practical application of behavioral finance, with an eye toward the future of what might lie ahead for the next phase of this discipline.

From the Back Cover

Praise for Behavioral Finance and Wealth Management

"Pompian is handing you the magic book, the one that reveals your behavioral flaws and shows you how to avoid them. The tricks to success are here. Read and do not stop until you are one of very few magicians."
—Arnold S. Wood, President and Chief Executive Officer Martingale Asset Management

"I wish this book had been available a decade ago; by understanding behavioral biases, clients and professionals can stay focused and comfortable throughout the markets' bubbles and doldrums. Michael Pompian moves our profession forward by proposing a standardized structure for this approach."
—Elizabeth K. Miller, CFA, Managing Director Trevor Stewart Burton & Jacobsen Inc., and former chair of the New York Society of Security Analysts' Wealth Management Committee

"Many inefficiencies in the market are the result of how investors let their emotions dictate their investment decisions. Michael Pompian's work provides a framework to understand why these inefficiencies exist, and how they can provide investors with significant profit-making opportunities."
—Stanley G. Lee, CFA, Principal, David J. Greene & Company, LLC

"Michael Pompian has created a valuable resource for investors and those in the wealth management community by not only explaining a number of important behavioral biases, but also giving them actionable steps to reduce biases and improve investment performance."
—John M. Longo, PhD, CFA, Senior Vice President Investment Strategy, the MDE Group, Inc., and Adjunct Professor of Finance at Rutgers University Graduate School of Management

Product details

  • Publisher ‏ : ‎ Wiley; 1st edition (April 7 2006)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 336 pages
  • ISBN-10 ‏ : ‎ 0471745170
  • ISBN-13 ‏ : ‎ 978-0471745174
  • Item weight ‏ : ‎ 542 g
  • Dimensions ‏ : ‎ 16.4 x 2.97 x 23.25 cm
  • Customer Reviews:
    4.0 out of 5 stars 5 ratings

About the author

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Michael M. Pompian, CFA, CAIA, CFP, is the Founder and Chief Investment Officer of Sunpointe Investments, an investment advisor to entrepreneurs, corporate executives and multi-generational wealth, based in St. Louis, Missouri. He is the author of five books on behavioral finance, including his latest Behavioral Finance and Your Portfolio (Wiley, 2021).

As an experienced advisor, author, and pioneering researcher on the topics of behavioral finance and emotional investing, Michael has lectured on the practical application of behavioral finance world-wide. Recognized as a global authority, he has authored the CFA Exam Level III course curriculum in Behavioral Finance, has been published in journals such as The Journal of Wealth Management and Journal of Financial Planning, and wrote a monthly columns on investing for Morningstar for 12 years. His work currently features in the curricula at Harvard, Duke and Dartmouth, among many other colleges and Universities.

His books have helped thousands of financial advisors across the globe build better relationships with their clients. His newest work is designed to help individual investors recognize and better manage their investing biases, either independently or with their financial advisors.

Michael earned his MBA in Finance from Tulane University and a B.S. in Management from the University of New Hampshire. Outside work Michael loves everything sports related: from watching and coaching youth sports to playing competitive tennis. Along with a family of three teenagers, he has two actively managed poodles and 3 passively managed guitars.

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owl
4.0 out of 5 stars Pretty good, but some mistakes.
Reviewed in the United States on December 15, 2008
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frosty1s
2.0 out of 5 stars Schoolbook
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Artephius (.
5.0 out of 5 stars Great Practical Book on Behavioral Finance
Reviewed in the United States on December 18, 2007
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Ashwani Tiwari
5.0 out of 5 stars Excellent book!
Reviewed in the United States on May 11, 2009
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