Personal Benchmark Integrating Behavioral Finance and Investment Management 1st Edition by Charles Widger, Daniel Crosby 1118963333 9781118963333

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ISBN-10 :  1118963333 

ISBN-13 :  9781118963333

Author:  Charles Widger, Daniel Crosby

In Personal Benchmark: Integrating Behavioral Finance and Investment Management, Chuck Widger and Dr. Daniel Crosby outline the ways in which a program of embedded behavioral finance, fueled by what matters most to you, can be your protection against irrational financial behavior. Along the way, you’ll learn how to improve your investment experience, increase returns formerly sacrificed to misbehavior, and worry less about “The Economy” as you become increasingly focused on “My Economy.” Welcome to a new way of investing, a new paradigm for conceptualizing wealth, and a system of turning emotion from your portfolio’s worst enemy into its best friend! In this new model, risk is simply the likelihood that we will underperform our dreams. Irrationality is acting in ways that thwart our ability to reach those dreams. And the optimal portfolio is not the one that generates the highest return in abstraction, it is the one that helps us meet our goals without killing our nerves before we get there. This book gives advisors the tools needed to effectively communicate the design and execution of the Personal Benchmark solution.

Personal Benchmark Integrating Behavioral Finance and Investment Management 1st table of contents: 

Part 1: Why Do We Need to Look at Investing Differently?
Chapter 1: Freedom in the Market and Advisor Responsibility
The Financial Markets
What We’ve Been Up to as Advisors
What Investors Really Want and Need
A New Investment Advice Delivery System
Brinker Capital and Personal Benchmark
Summary
References
Chapter 2: Investor Emotions and Financial Decisions
The Origins and Evolution of Behavioral Finance
The Myths of Efficiency and Rationality
A Definition and Framework for Behavioral Finance
Summary
References
Chapter 3: Risk, This Time It’s Personal
Fallacy 1: Risk and Return Are Systematically Correlated
Fallacy 2: Investors Have a Single, Static Level of Risk Tolerance
Fallacy 3: One Man’s Risk Is Another Man’s Reasonable Probability
Behavioral Risk and You
Summary
References
Part 2: What Is the Personal Benchmark Approach?
Chapter 4: Brinker Capital’s Multi-Asset Class Investment Philosophy
A Brief History of Investing
Our Multi-Asset Class Investment Philosophy
Applying Our Philosophy
Implementing Our Philosophy
Summary
References
Chapter 5: The Power of Buckets
Intentional Framing
Framing with Purpose
Mental Accounting for Increased Rationality
Goals-Based Mental Accounts: A Case Study
Summary
References
Chapter 6: Selection of an Active Investment Manager
Passive versus Active Management
The Successful Investment Firm
The Successful Investment Manager
An Effective Investment Management Process
Monitoring and Assessing Performance
Summary
References
Part 3: How Can We Execute a Purpose-Driven Investment Strategy?
Chapter 7: Using a Goals-Based Approach
The Allure of Determinism in Economics and Psychology
The Economy of One
Our Inner Demons: A Field Guide
Let Your “Why” Teach You “How”
Summary
References
Chapter 8: Pursuing Your Personal Benchmark
The Difference a Frame Makes
Limitations in Our Decision Making
The Joneses, Jealousy, and Missteps
The Anatomy of Better Decisions
Summary
References
Chapter 9: Providing an Easy-to-Understand Explanation
Your Best Investment
Once More, with Feeling
Changing the Conversation
The Brinker Capital Personal Benchmark Solution
Summary
References
Chapter 10: Leveraging a Scalable Offering for Investors and Advisors
Using Personal Benchmark
Reaping Benefits for Advisors
Summary
Conclusion
About the Authors
About the Companion Website

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Tags: Personal Benchmark, Integrating Behavioral, Investment Management, Charles Widger, Daniel Crosby