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Title

Selling Fast and Buying Slow: Heuristic and Trading Performance of Institutional

Event Description

​**CLICK HERE TO REGISTER**

EVENT DETAILS

Date: 19 November 2019, Tuesday

Time: 12pm to 2pm (Registration and Lunch starts at 12pm; Talk begins at 12.30pm)

Venue: Qanvast, OUE Downtown Gallery, #02-09/10, 6A Shenton Way, Singapore 068815

Speaker: Rick Di Mascio


EVENT SYNOPSIS

​​

Most research on heuristics and biases in financial decision-making comes from non- experts, such as retail investors who hold modest portfolios. We use a unique data set to show that financial market experts – institutional investors with portfolios averaging $573 million – exhibit costly, systematic biases. A striking finding emerges: while in- vestors display clear skill in buying, their selling decisions underperform substantially – even relative to strategies involving no skill such as random selling. We present evi- dence for limited attention as the driver of this discrepancy, with investors devoting more attentional resources to buy decisions than sell decisions. A salience heuristic explains much of the underperformance in selling: investors are prone to sell assets with extreme returns across all specifications. This strategy is a mistake, resulting in substantial losses relative to randomly selling assets to raise the same amount of money. In contrast to selling decisions, the salience heuristic does not appear to drive buying decisions, which are not affected by prior returns.

 

TERMS AND CONDITIONS

•Registration will only be confirmed upon receipt of the registration form and full payment.
•If any registered participant is unable to attend, a replacement is welcome, but a top-up may apply depending on the membership category of the replacement participant. However, no refund would be made.
•Registration of a non-member needs to be recommended by a member of CFA Society Singapore.
•CFA Society Singapore reserves the right to:
  *cancel, postpone or make any changes to the terms of the event at its sole discretion without giving any prior notice;
  *reject any registrations;
  *collect payment shortfall in accordance to the actual membership status of participants.
•By signing and submitting this form, I / we consent to CFA Society Singapore collecting, using, disclosing and processing my / our personal data :
  (1)  for purposes related to the administration of the registration for the above event;
  (2)  to send me updates informing me / us of events and activities organized by CFA Society Singapore.

 

*I understand that my personal data will be used and retained in accordance with the CFA Society Singapore Personal Data Policy available at www.cfasingapore.org

 

*Kindly note that photographs and video may be taken during the event for use on our website, newsletter, social media, publicity and other related purposes by CFA Society Singapore. 

 

GLOBAL PASSPORT PROGRAMME
 

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The Global Passport Program allows members of participating CFA societies to attend each other's society events at the local member price.​

Event Type

Society; Career; Featured

Education Topic

 

Start Time

11/19/2019 12:00

End Time

11/19/2019 14:00

City

Singapore

State/Province

 

Event Country

Singapore

Event Region

Asia Pacific

Location Info

​TBA

Speaker

Rick Di Mascio

CE Credits

1

SER Credit

nil

Currency

SGD

Member Price

0

Non-Member Price

40

Candidate Price

20

Registration

Click here to register​

All Day Event

 

Recurrence

 

Event Photo

 

Custom Event Type

PD

Date

19 November 2019

Text

 

Event Type

Professional Development

Function Type:

Event

Event Link Leads To New Tab

Yes

Event Short Info

[Professional Development] Selling Fast and Buying Slow: Heuristic and Trading Performance of Institutional

Event Link

Learn More

Attachments

Content Type: MyCFA Calendar
Created at 10/25/2019 15:49 by charissa.tay@cfasingapore.org
Last modified at 11/14/2019 11:14 by events@cfasingapore.org[CASMSTS:username]