CFA Conference: Post Compendium

CFAI have been live-blogging at the 67th CFA Institute Annual Conference here in Seattle. As before, I have been very gratified at the kind reception they have received. This post will act as a compendium of these posts so that you may find them in one convenient location. Links to the posts are provided below, with the most recent listed first.

CFA Conference: C. Thomas Howard

CFABehavioral Portfolio Management: A New Paradigm for Managing Investment Portfolios

Moderated by Craig D. Senyk, CFA, Mawer Investment Management

C. Thomas Howard is CEO, director of research, chief investment officer, and co-founder at AthenaInvest, a US SEC–registered investment adviser. He led the research project that resulted in strategy-based investing, the methodology that underlies AthenaInvest’s investment approach. Dr. Howard oversees Athena’s ongoing research, which has led to a number of industry publications and conference presentations. He is also professor emeritus at the Reiman School of Finance at the Daniels College of Business at the University of Denver. Previously, Dr. Howard lectured at SDA Bocconi School of Management, Handelshøjskole Syd, and École de Management de Lyon. He has also served as a consultant for a number of firms, including First Data Corp and Janus Capital Group, and served on the board of directors at AMG National Trust Bank. Dr. Howard holds a BS in mechanical engineering from the University of Idaho, an MS in management science from Oregon State University, and a PhD in finance from the University of Washington.

Issues include the following.

  • Measurable and persistent behavioral factors are emerging as a new source of information with the potential to transform how we think about portfolio management and to dramatically improve portfolio performance
  • Behavioral portfolio management (BPM) is the next step in a developing paradigm shift away from modern portfolio theory and toward behavioral finance
  • BPM looks beyond investors’ cognitive errors and focuses on how to harness price distortions driven by emotional crowds to create superior portfolios

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