3 thoughts on “Behavioral Finance and Wealth Management: How to Build Optimal Portfolios That Account for Investor Biases

  1. 1 of 3 people found the following review helpful
    2.0 out of 5 stars
    Shaky grasp of subject matter?, December 14, 2014
    By 
    Michael Vanbuskirk (Philadelphia, Pa USA) –
    (REAL NAME)
      

    This review is from: Behavioral Finance and Wealth Management: How to Build Optimal Portfolios That Account for Investor Biases (Hardcover)
    I struggled with this read. The book mostly does an okay job in describing experiments of others involving hard-wired inclinations that unconsciously affect the way humans look at the world, including the world of investments. However, too often there are some points showing bad logic and others that are poorly described.

    For instance, the author mentions tests to show risk tolerance in individuals that had questions like: give a range for how far you think the moon is from the earth so that you feel your answer has a 95% chance of being correct. Whether a wide range or narrow one is is supposed to suggest something. But, some folks like myself know how far the moon is from earth (it’s a range itself) so the answer would not measure anything in my case. Same question for the weight of a sperm whale, etc. There were a number of troubling things where the reader was left thinking “really?” but the work did not anticipate these reactions or see the problems and so did not address them.

    The chapter on confirmation bias describes an experiment with 4 cards which I read 4 or 5 times but did not understand it. for a bit I tried to figure out what information had been left out, but gave up. Was this book proof read for content?

    Lots of good information but not consistently described, synthesized or illustrated very well.

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  2. 1 of 6 people found the following review helpful
    4.0 out of 5 stars
    clear and detailed in what it discusses, March 30, 2014
    By 
    Mike Ginn (Carmel, CA United States) –

    Verified Purchase(What’s this?)
    This review is from: Behavioral Finance and Wealth Management: How to Build Optimal Portfolios That Account for Investor Biases (Hardcover)
    very good for me, I used it to advance my own understanding of behavioral aspects involved in my own investing.

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  3. 0 of 6 people found the following review helpful
    5.0 out of 5 stars
    Five Stars, August 19, 2014
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    This review is from: Behavioral Finance and Wealth Management: How to Build Optimal Portfolios That Account for Investor Biases (Hardcover)
    It is quite new and well protected.

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