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The disposition to sell winners too early and ride losers too long
A method of making security paper such as paper for currency notes and paper made by the method. The method comprises incorporating in the body of the paper thermoplastic material, such asExpand
Behavioral Portfolio Theory
Abstract We develop a positive behavioral portfolio theory (BPT) and explore its implications for portfolio constrution and security design. The optimal portfolios of BPT investors resembleExpand
Investor Overconfidence and Trading Volume
The proposition that investors are overconfident about their valuation and trading skills can explain high observed trading volume. With biased self-attribution, the level of investor overconfidenceExpand
The Wages of Social Responsibility
Typical socially responsible investors tilt their portfolios toward stocks of companies with high scores on social responsibility characteristics such as community, employee relations and theExpand
Explaining investor preference for cash dividends
Abstract The well-known tendency of investors to favor cash dividends emerges quite naturally in two new theories of choice behavior [the theory of self-control due to Thaler and Shefrin (1981), andExpand
Consumer Confidence and Stock Returns
Consumer confidence predicts economic activity, but does it also predict stock returns? Do stock returns affect consumer confidence? And what is the relationship between consumer confidence andExpand
Investor Sentiment and Stock Returns
The author investigates the predictive power of investment newsletters and concludes that writers of investment newsletters do not seem to have any statistically significant ability, as a group, toExpand
Portfolio Optimization with Mental Accounts
We integrate appealing features of Markowitz’s mean-variance portfolio theory (MVT) and Shefrin and Statman’s behavioral portfolio theory (BPT) into a new mental accounting (MA) framework. FeaturesExpand
What Do Investors Want?
Investments, like restaurants, offer both utilitarian and expressive benefits. Diners want more than the utilitarian benefits of low cost and high nutrition when they choose restaurants; they wantExpand
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