In this 16-minute video with Gregory Seals for the CFA Institute, I talk about the loss of trust and the difficult work of restoring it; the pseudo-scientific farce of risk-tolerance questionnaires; and why so many professional investors use behavioral finance as the wrong kind of tool.
Click here to watch the video.
Source: CFA Institute, “Take 15” series
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This article was originally published on The Wall Street Journal.
Further reading
Definitions of BEHAVIORAL ECONOMICS, IRRATIONAL, RISK, SMART MONEY in The Devil’s Financial Dictionary