Return of the Active Manager
How to apply behavioral finance to renew and improve investment management.
Emotional behavior and biases run throughout financial markets. The 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?
By C. Thomas Howard, PhD and Jason Apollo Voss, CFA
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In this groundbreaking new book, investing and behavioral finance experts Thomas Howard and Jason A. Voss fill 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 behaviorally-enhanced fundamental analysis, active equity fund evaluation and selection, harnessing big data, and investment firm structure. You learn how to exploit behavioral price distortions, how to recognize and avoid behavioral biases in both yourself and clients, how to extract behavioral insights from the executives of prospective investments, and how manager behavior can be used to predict future fund performance.
An indispensable tool for research analysts, portfolio managers, private wealth advisors and manager search consultants, Return of the Active Manager rationalizes the financial markets and prescribes actional strategies that build on the lessons of behavioral finance. this groundbreaking new book, investing and behavioral 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.
C. Thomas Howard, PhD
C. Thomas Howard is the CEO and Chief Investment Officer of AthenaInvest, has taught, researched, consulted and invested in stocks for over 15 years. A professor at the University of Denver, Howard has taught stock analysis to audiences ranging from young undergraduates to adult seminar audiences in international classes in Italy and Denmark. A prolific writer, Howard is quoted regularly in Barron's, Money Magazine and other consumer publications.
Jason A. Voss, CFA
Jason Voss is the CEO of Active Investment Management (AIM) Consulting, a firm dedicated to helping small- and medium-sized active investment managers to deliver alpha for the benefit of their end clients. He is the retired co-portfolio manager of the Davis Appreciation and Income Fund. During his tenure the Fund bested the S&P 500 by 49.1%, was Lipper #1, a Morningstar Analyst Pick, and one of the first ten funds awarded Morningstar’s Stewardship Grade “A.” Jason also served as the Director of Content for CFA Institute, the world’s largest organization of financial professionals. He is a frequent go-to interview for the likes of the Wall Street Journal, Barron’s, Marketplace Morning Report, the BBC’s Today Programme, and many others. Jason earned his BA in Economics and MBA from the University of Colorado at Boulder.