Harvard Business Review

JULY 10, 2014

There isn’t anyone successful at managing a mutual or hedge fund who avoids risk; we just need to face it carefully. When results are strong, the manager basks in the glow, prestige, and compensation attached to outperformance. Collaboration Decision making Risk management' What are the potential downsides?

Tversky 8

Tversky Kahneman Hedge Analysis 8

Harvard Business Review

JULY 2, 2013

As Nobel Prize-winning psychologist Daniel Kahneman has written, "For most people, the fear of losing $100 is more intense than the hope of gaining $150. While the phenomenon of loss aversion has been well-documented, it''s worth noting that Kahneman himself refers to "most people" — not all — when describing its prevalence.

Kahneman 8

Kahneman Tversky Hedge Banking 8

Harvard Business Review

APRIL 2, 2014

Others, most notably money managers and former Fama students Cliff Asness and John Liew in an epic Institutional Investor article , have done a lot recent to clarify how Fama’s ideas and Shiller’s can at least co-exist peacefully. It feels like it’s got a little bit of Kahneman and Tversky in it. Absolutely.

CAPM 8

CAPM Discount Price Finance 8