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Raife Giovinazzo, CFA, PhD
Partner & Portfolio Manager
Applied Behavioral Finance
Behavioral finance combines psychology and finance – contending that preconceptions and cognitive errors lead investors to misinterpret events and overlook opportunities. While behavioral finance is relatively new to most investors, its basic premise is not. In fact, fundamentals of behavioral finance are as old as mankind itself. The dynamics of human nature – the ingrained switches that trigger powerful emotions of love, hate, greed, courage, fear – are largely unchanged; only the settings in which we play them out are different.
Dr. Giovinazzo is the lead portfolio manager of the Fuller & Thaler Behavioral Small-Cap Equity Fund, and is also responsible for research using market insights and behavioral finance to enhance the investment processes. Dr. Giovinazzo has over 14 years of financial industry experience. Prior to joining Fuller & Thaler, Dr. Giovinazzo was a researcher and co-portfolio manager with Blackrock's Scientific Active Equity group (formerly Barclays Global Investors). His previous experience also includes investment and consulting work with Wellington Management, Marsh & McLennan, and Mercer Management Consulting (now Oliver Wyman). Dr. Giovinazzo received his BA in sociology from Princeton, and his MBA in analytic finance, economics, and statistics, as well as a PhD in finance from the Booth School of Business at the University of Chicago. He wrote his undergraduate thesis for Dr. Kahneman (winner of the 2002 Nobel Prize in Economics) while at Princeton, and Dr. Thaler ("Father of Behavioral Finance") was his dissertation co-chair at the University of Chicago. Dr. Giovinazzo holds the Chartered Financial Analyst designation and is a member of the CFA Society of San Francisco. He is an owner of the firm and a member of the Board of Directors.