James Montier Seven Sins Of Fund Management
Behavioural investing seeks to bridge the gap between psychology and investing. Alltoo many investors are unaware of the mental pitfalls that await them. Even once weare aware of our biases, we must recognise that knowledge does not equal behaviour.The solution lies is designing and adopting an investment process that is at leastpartially robust to behavioural decision-making errors.Behavioural Investing:A Practitioner’s Guide to Applying Behavioural Finance explores the biases weface, the way in which they show up in the investment process, and urges readers toadopt an empirically based sceptical approach to investing. This book is unique incombining insights from the field of applied psychology with a through understandingof the investment problem. The content is practitioner focused throughout and willbe essential reading for any investment professional looking to improve their investingbehaviour to maximise returns. Key features include:.
Theonly book to cover the applications of behavioural finance. An executive summaryfor every chapter with key points highlighted at the chapter start. Informationon the key behavioural biases of professional investors, including The seven sinsof fund management, Investment myth busting, and The Tao of investing.
By James Montier Occasionally when I present on the seven sins of fund management, someone at the end (obviously a valiant soul who has managed to stay awake) will ask me how I would structure an investment process. These became the seven sins of fund management. Sin 1: Forecasting (Pride) An enormous amount of evidence suggests that we simply can’t forecast. The core root of this inability to forecast seems to lie in the fact that we all seem to be over-optimistic and over-confident. For instance, we’ve found that around 75% of fund managers think.
Practical examples showing how using a psychologically inspired model can improveon standard, common practice valuation tools. Written by an internationallyrenowned expert in the field of behavioural finance. 'It is quite simply the best and most comprehensive treatment of the subject to date.'
( Financial Times, Monday 3rd December 2007)'The Year's most exhaustive,and often entertaining, coverage of the behavioural literature.' ( Financial Times,Saturday 15th December 2007)'.one of the few 'must read' books on the topicof investing.' ( The Herald - Glasgow, Saturday 2nd February 2008)'afantastic insight into how markets operate and one of the few 'must read' on thetopic of investing.' ( The Herald, Sat 2nd February 2008). JAMES MONTIER is the global equity strategist at Dresdner Kleinwort in London.He has been the top rated strategist in the annual Extel survey for the last two years.He is also the author of Behavioural Finance, published by Wiley in 2000. Jameswas on the 50 must read analysts list complied by the Business magazine, andwas one of the Financial News' Rising Stars.James is a regular speaker at bothacademic and practitioner conferences, and is regarded as the leading authority onapplying behavioural finance to investment. He is also a visiting fellow at the Universityof Durham.
Value Investing James Montier
James is also a fellow of the Royal Society of Arts. He has been describedas a maverick by the Sunday Times, an enfant terrible by the FAZ, and a prophet bythe Fast Company! When not writing or reading, he can usually be found blowing bubblesat fish and swimming with sharks.
James Montier Seven Sins Of Fund Management Company
Security AnalysisStrictly speaking, security analysis may be carried on without reference to any definite program or standards of investment, such a specialization of functions would be quite unrealistic. Critical examination of balance sheets and income accounts, comparisons of related or similar issues, studies of the terms and protective covenants behind bonds and preferred stocks. These typical activities of the securities analyst are invariably carried on with some practical idea of purchase or sale in mind, and they must be viewed against a broader background of investment principles, or perhaps of speculative precepts. In this work we shall not strive for a precise demarcation between investment theory and analytical technique but at times shall combine the two elements in the close relationship that they possess in the world of finance.Useful linksEvents EventDateSohn Hong KongMay 30Private Debt ForumJune 3Sohn San FranciscoOctober 16Sohn LondonNovember 14Alternative Investing SummitDecember 4.