Join us for a luncheon presentation with Dr Thomas Howard on the topic of Behavioral Finance.
- Behavioral Science, as pioneered by Kahneman and Taversky, is transforming the financial services industry. An emerging group of "Behavioral Advisors" recognize that emotions and the resulting cognitive errors can impact client wealth, and are placing client behavior management at the centre of their practices.
- Behavioral Science is sweeping aside Modern Portfolio Theory - supporting evidence calls into question the CAPM and EMH. A "Behavioral Market Model" is taking shape as a potential alternative using objective, carefully researched behavioral measures.
- Research shows that active equity funds can be evaluated based on behavioral concepts and specific criteria are predictive of superior performance. By changing the evaluation process, truly active funds can be identified while marginalizing value-destroying closet indexers.
- Building on the criteria that identifies those active equity funds most likely to outperform, the Active Equity Opportunity (AEO) measure indicates when a particular market environment favours stock picking skill and when market exposure is more effective.
C. THOMAS HOWARD, Ph.D
Thomas Howard is the co-founder, CEO, and Director of Research at AthenaInvest and the architect of the unique methodology that underlies their behavioral investment approach. Building upon the Nobel Prize winning research of Daniel Kahneman, he is a pioneer in the application of behavioral finance for investment management.
Dr. Howard is a professor emeritus at the Reiman School of Finance, Daniels College of Business at the University of Denver, where he has taught courses and published articles in the areas of investment management and international finance.
He is the author of the book Behavioral Portfolio Management.
Dr. Howard holds a BS in mechanical engineering from the University of Idaho, an MS in management science from Oregon State University, and a PhD in finance from the University of Washington.