Behavioral Finance


Sep

18

2016
The Invisible Alpha

The Invisible Alpha

The connection between Wall Street and Main Street is a quirky one.  For the most part, Wall Street serves Main Street well.  Investment banks, commercial banks and insurance companies match borrowers with lenders and keep the economy running.  However, this...

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May

20

2016
The Power of Doing Nothing

The Power of Doing Nothing

Investing is much different than most other endeavors in life.  Usually, when we want to accomplish a goal, we have to do more.  If you want to lose weight, exercise more.  If you want a promotion at work, stay later...

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Apr

08

2016
Skill vs Luck

Skill vs Luck

“It’s useless to lecture a human.” – Rick Riordan Human beings are stubborn.  It comes naturally to us.  Stubbornness is organically ingrained in our existence.  How often do you catch yourself doing something that you know is likely to have...

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Apr

01

2016
Don’t Be an April Fool

Don’t Be an April Fool

Nearly every culture has some kind of festival to mark the coming of spring. These occasions, which anthropologists have dubbed “renewal festivals,” typically involve some sort of organized mayhem. People play pranks on friends, wear disguises, or somehow reverse the...

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Feb

26

2016
The Paradox of Skill

The Paradox of Skill

I read a great article this week that tackled the question as to whether active fund managers will have an easier time outperforming the market now that the trend towards passive investing is so strong.  The article points out that...

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Dec

08

2015
Short-Termism is a Costly Mistake

Short-Termism is a Costly Mistake

David Einhorn, founder of Greenlight Capital, has done very well for his investors.  Over the past two decades, he has delivered annualized returns of nearly 20%.    The past year has not been so glamorous though.  At the end of...

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