When it comes to investing, are you your own worst enemy? Do overconfidence, psychological biases, and following the crowd keep you from winning the investment game?
Terrance Odean, Rudd Family Foundation Professor and Chair of the Finance Group at the Haas School of Business, University of California, Berkeley, has analyzed the trading records of thousands of retail investors and uncovered some common investing mistakes. Investors pay too much attention to past returns and too little to fees and expenses. Investors’ excitement contributes to asset-pricing bubbles. Excessive trading and return-chasing materially lower investment returns and welfare.
For the Tangerine Lecture in Finance, Odean will discuss how behavioural biases and decision heuristics may be putting your investment returns at risk.
Tangerine Lecture in Finance
5:30-6 p.m. – Registration and reception
6-7 p.m. – Presentation from Professor Terrance Odean and Q&A
Location: Ivey's Tangerine Leadership Centre, King & York St., Toronto
Tickets: $30 (non-alumni), $25 (alumni), $20 (current students)
This event is sold out and registration is closed.
Topics You Will Explore
- Why overconfident investors trade too much, but hold onto losing investments
- Why individual investors buy the stocks that catch their attention and are in the news
- Why chasing performance while ignoring fees dramatically lowers investment returns
About the Speaker
Terrance Odean is the Rudd Family Foundation Professor of the Finance Group at the Haas School of Business at the University of California, Berkeley. He is a member of the Journal of Investment Consulting editorial advisory board, the Russell Sage Behavioral Economics Roundtable, the WU Gutmann Center Academic Advisory Board at the Vienna University of Economics and Business, and is a Wall Street Journal expert panellist. He has been an editor and an associate editor of the Review of Financial Studies, an associate editor of the Journal of Finance, a co-editor of a special issue of Management Science, an associate editor at the Journal of Behavioral Finance, a director of UC Berkeley’s Experimental Social Science Laboratory, a member of the Russell Investments Academic Advisory Board, a visiting professor at the University of Stavanger, Norway, and the Willis H. Booth Professor of Finance and Banking. As an undergraduate at Berkeley, Odean studied Judgment and Decision-Making with the 2002 Nobel Laureate in Economics, Daniel Kahneman.
About the Moderator
Michael King is an Associate Professor of Finance, Co-director of the Scotiabank Digital Banking Lab, and holds the Tangerine Chair in Finance. He joined the finance group at the Ivey Business School in 2011 after two decades working in international financial markets, both in the private and public sectors. King began his career in investment banking and trading working between 1990 and 1998 in New York, London, and Zurich with Credit Suisse and RBC Dominion Securities. During this period, he obtained the Chartered Financial Analyst (CFA) designation. After completing his PhD at the London School of Economics in 2001, King joined the Bank of Canada in Ottawa where he worked in increasingly senior positions in the financial markets and international departments. From 2006 to 2008, he also taught part time on the Queen's Executive MBA program. From 2008 to 2011, He worked for the Bank for International Settlements (BIS) in Basel, Switzerland, where he contributed to the analysis of the global financial crisis, wrote about developments in international financial markets for the BIS Quarterly Review, researched the economic implications of the revised Basel Capital Adequacy Accord (Basel III), and analyzed the results of the 2010 Triennial Global Foreign Exchange survey.
About the Tangerine Lecture in Finance
The Tangerine Lecture in Finance series, sponsored by Tangerine, brings you thought-provoking and practical information about the world of finance.