Integrating Behavioral Finance and Investment ManagementBook - 2014
In Personal Benchmark: Integrating Behavioral Financeand Investment Management , Chuck Widger and Dr. Daniel Crosbyoutline the ways in which a program of embedded behavioral finance,fueled by what matters most to you, can be your protection againstirrational financial behavior. Along the way, you'll learn how toimprove your investment experience, increase returns formerlysacrificed to misbehavior, and worry less about "The Economy" asyou become increasingly focused on "My Economy."
Welcome to a new way of investing, a new paradigm forconceptualizing wealth, and a system of turning emotion from yourportfolio's worst enemy into its best friend!
In this new model, risk is simply the likelihood that we willunderperform our dreams. Irrationality is acting in ways thatthwart our ability to reach those dreams. And the optimal portfoliois not the one that generates the highest return in abstraction, itis the one that helps us meet our goals without killing our nervesbefore we get there.
This book gives advisors the tools needed to effectivelycommunicate the design and execution of the Personal Benchmarksolution.