Beyond greed and fear : understanding behavioral finance and the psychology of investing

書誌事項

Beyond greed and fear : understanding behavioral finance and the psychology of investing

Hersh Shefrin

(Financial Management Association survey and synthesis series)

Harvard Business School Press, c2000

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注記

Includes bibliographical references (p. 333-350) and index

内容説明・目次

内容説明

Bias, sentiment and personal opinions cloud the judgement of even the best Wall Street investors, so why do most financial decision-making models fail to factor in basic human nature? In this work, a guide to what really influences the decision-making process, Hersh Shefrin applies psychological research to stock selection, financial services, and corporate financial strategy. Through colourful, often real-world examples, Shefrin points out the common mistakes that money managers, security analysts, financial planners, investment bankers and corporate leaders make so that readers gain insights into their own financial decisions.

目次

  • Part I What is Behavioral Finance?: Introduction
  • Heuristic-Driven Bias: The First Theme
  • Frame Dependence: The Second Theme
  • Inefficient Markets: The Third Theme. Part II Prediction: Trying to Predict the Market
  • Sentimental Journey: The Illusion of Validity
  • Picking Stocks to Beat the Market
  • Biased Reactions to Earnings Announcements. Part III Individual Investors: Get-Evenitis - Riding Losers Too Long
  • Portfolios, Pyramids, Emotions, and Biases
  • Retirement Saving - Myopia and Self-Control. Part IV Institutional Investors: Open-Ended Mutual Funds - Misframing, Hot Hands, and Obfuscation Games
  • Closed-Ends Funds - What Drives Discounts?
  • Fixed Income Securities - The Full Measure of Behavioral Phenomena
  • The Money Management Industry - Framing Effects, Style Diversification, and Regret. Part V The Interface between Corporate Finance and Investment: Corporate Takeovers and the Winner's Curse
  • IPOs - Initial Underpricing, Long-term Underperformance, and Hot-Issue Markets
  • Optimism in Analysts' Earnings Predictions and Stock Recommendations. Part VI Options, Futures, and Foreign Exchange: Options - How They're Used, How They're Priced, and How They Reflect Sentiment
  • Commodity Futures - Orange Juice and Sentiment
  • Excessive Speculation in Foreign Exchange Markets.

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