by Alyssa A. Lappen and Heidi L. Schneider
The Journal of Wealth Management | Fall 2000 | Vol. 3, No. 2
Noting that, in recent years, dozens of academic articles have been written on the subject of behavioral finance, the authors first propose a brief review of the literature and argue that its main message is that behavioral factors affect virtually every aspect of financeâ€”from prices of individual stocks to absolute returns and from individual retirement planning to investor confidence. Yet, they identify a void with respect to discussions as to how active portfolio managers have long applied behavioral finance to the investment process. They go on to explain some market anomalies created as a result of human error and detail a few ways in which portfolio managers can use behavioral observations to manage clientsâ€™ funds.
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