Thomas Idzorek's Books

Popularity: A Bridge between Classical and Behavioral Finance

By: Roger G. Ibbotson,Thomas M. Idzorek,Paul D. Kaplan,James X. Xiong

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Popularity: A Bridge between Classical and Behavioral Finance

By: Roger G. Ibbotson,Thomas M. Idzorek,Paul D. Kaplan,James X. Xiong

Classical and behavioral finance are often seen as being at odds, but the idea of “popularity” has been introduced as a way of reconciling the two approaches. Investors like or dislike various characteristics of securities for rational reasons (as in classical finance) or irrational reasons (as in behavioral finance), which makes the assets popular or unpopular. In the capital markets, popular (unpopular) securities trade at prices that are higher (lower) than they would be otherwise; hence, the shares may provide lower (higher) expected returns.This book builds on this idea and expands it in two major ways. First, it introduces a rigorous asset pricing model, the popularity asset pricing model (PAPM), which adds investor preferences for security characteristics other than the risk and expected return that are part of the capital asset pricing model. A major conclusion of the PAPM is that the expected return of any security is a linear function of not only its systematic risk (beta) but also of all security characteristics that investors care about. The other major contribution of the book is new empirical work that, while confirming the well-known premiums (such as size, value, and liquidity) in a popularity context, supports the popularity hypothesis on the basis of portfolios of stocks based on such characteristics as brand value, sustainable competitive advantage, and reputation. Popularity unifies the factors that affect price in classical finance with those that drive price in behavioral finance, thus creating a unifying theory or bridge between classical and behavioral finance.

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118

Publisher

CFA Institute Research Foundation

Published Date

ISBN 10

1944960619

ISBN 13

9781944960612

The New Wealth Management

The Financial Advisor's Guide to Managing and Investing Client Assets

By: Harold Evensky,Stephen M. Horan,Thomas R. Robinson

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The New Wealth Management

The Financial Advisor's Guide to Managing and Investing Client Assets

By: Harold Evensky,Stephen M. Horan,Thomas R. Robinson

Mainstay reference guide for wealth management, newly updated for today's investment landscape For over a decade, The New Wealth Management: The Financial Advisor's Guide to Managing and Investing Client Assets has provided financial planners with detailed, step-by-step guidance on developing an optimal asset allocation policy for their clients. And, it did so without resorting to simplistic model portfolios, such as lifecycle models or black box solutions. Today, while The New Wealth Management still provides a thorough background on investment theories, and includes many ready to use client presentations and questionnaires, the guide is newly updated to meet twenty-first century investment challenges. The book Includes expert updates from Chartered Financial Analyst (CFA) Institute, in addition to the core text of 1997's first edition endorsed by investment luminaries Charles Schwab and John Bogle Presents an approach that places achieving client objectives ahead of investment vehicles Applicable for self-study or classroom use Now, as in 1997, The New Wealth Management effectively blends investment theory and real world applications. And in today's new investment landscaped, this update to the classic reference is more important than ever.

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Page Count

480

Publisher

John Wiley & Sons

Published Date

ISBN 10

1118036913

ISBN 13

9781118036914

Return of the Active Manager

By: C. Thomas Howard,Jason Apollo Voss

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Return of the Active Manager

By: C. Thomas Howard,Jason Apollo Voss

Emotional behavior and biases run throughout financial markets. This is the diagnosis of behavioral finance. But it is not enough to know that investors make biased decisions. What do we do about it? How do we move beyond diagnosis, to prescription? In this groundbreaking new book, investing and behavioural finance experts Thomas Howard and Jason A. Voss plug this void and show the new way ahead for investment managers and advisors. Return of the Active Manager provides a set of tools for investment professionals to overcome and take advantage of behavioral biases. Across seven compelling chapters, Return of the Active Manager details actionable advice on topics such as behaviourally-enhanced fundamental analysis, active equity fund evaluation and selection, harnessing big data, and investment firm structure. You learn how to exploit behavioural price distortions, how to recognise and avoid behavioural biases (in both yourself and clients), how to extract behavioral insights from the executives of prospective investments, and how manager behaviour can be used to predict future fund performance. An indispensable tool, Return of the Active Manager rationalises the financial markets and prescribes actionable strategies that build on the lessons of behavioural finance.

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Page Count

236

Publisher

Harriman House Limited

Published Date

ISBN 10

0857197649

ISBN 13

9780857197641

Popularity: A Bridge between Classical and Behavioral Finance

By: Roger G. Ibbotson,Thomas M. Idzorek,Paul D. Kaplan,James X. Xiong

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Popularity: A Bridge between Classical and Behavioral Finance

By: Roger G. Ibbotson,Thomas M. Idzorek,Paul D. Kaplan,James X. Xiong

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118

Publisher

CFA Institute Research Foundation

Published Date

ISBN 10

1944960619

ISBN 13

9781944960612

The Retirement Management Journal

Practitioner Peer Review Committee Issue

By: Robert J. Powell, III

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The Retirement Management Journal

Practitioner Peer Review Committee Issue

By: Robert J. Powell, III

The Retirement Management Journal, a publication of the Retirement Income Industry Association (RIIA), is devoted to the advancement of theoretically sound, practical thinking for retirement-income planning and management.RIIA provides the space, discussions, communications, research, education, and standards that derive from its unique perspective – the View Across the Silos – to help investors, distributors, and manufacturers in the financial industry transition from Investment Accumulation to Retirement Management and Income Protection.

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ISBN 10

1497388090

ISBN 13

9781497388093

Book's by Thomas Idzorek

Popularity: A Bridge between Classical and Behavioral Finance

Popularity: A Bridge between Classical and Behavioral Finance

The New Wealth Management

The New Wealth Management

Return of the Active Manager

Return of the Active Manager

Popularity: A Bridge between Classical and Behavioral Finance

Popularity: A Bridge between Classical and Behavioral Finance

The Retirement Management Journal

The Retirement Management Journal

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