The Cutting Edge of Behavioral Finance

Presented by: Hersh Shefrin, Ph. D.

Santa Clara University

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This talk will present the basics of behavioral Finance and what is cutting edge in that area. This will include a discussion of the results recent research regarding online investors stated objectives for investing, what they do, in terms of the broad investing strategies they employ, and how their portfolios perform in terms of return, risk, and factor exposure. In particular, the research analyzes how systematic differences in investors’ traits interact with their objectives and strategies. The results provide insights into the impact on investors’ portfolios stemming from overconfidence, perceived competence, gambling and speculation, and risk appetite.

Hersh Shefrin holds the Mario L. Belotti Chair in the Department of Finance at Santa Clara University's Leavey School of Business. He is a pioneer of behavioral finance, has worked on behavioral issues for over thirty years and has published multiple books and textbooks defining the field. He holds a Ph.D. from the London School of Economics, and an honorary doctorate from the University of Oulu in Finland.

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This meeting qualifies for 1.5 hr of CE credit pending approval by the CFP Board.