Investors are assumed to place a greater value on a loss than on a gain of the same amount.
Given a potential loss and gain of equal sizes, the increase in utility associated with the potential gain is smaller than the decrease in utility (i.e., disutility) associated with the potential loss.
Investors tend to fear losses and can become risk seeking (assume riskier positions) in an attempt to avoid them.
Ask questions like if you behave with such bias.
seek advice from a professional
Additional research is highly recommended
Actively seeking out information that challenges your beliefs
it is critical to keep records
The advisor should attempt to moderate Client’s behavioral biases because her biases are cognitive (mental accounting and illusion of control), not emotional, biases, so she can be educated to avoid these biases.
Also, because of her concentrated investments, the risk to Stoffer’s ability to maintain her standard of living is high. Adapting to her biases could prevent Stoffer from achieving her investment goals.
Individuals may exhibit both cognitive errors and emotional biases.
Individuals may exhibit characteristics of multiple investor types.
Individuals will likely go through behavioral changes as they age.
Individuals are likely to require unique treatment even if they are classified as the same investor type because human behavior is so complex.
Individuals act irrationally at different times and without predictability.
Status quo bias
Naive diversification
on familiarity and overconfidence
Loyalty effect
overconfidence
disposition effect
Home bias
overconfidence
the way management presents information
biased research
Social proof bias
克服方法
Comprised of individuals with diverse backgrounds.
Members who are not afraid to express their opinions even if it differs from others.
A committee chair who encourages members to speak out even if the member's views arc contrary to the group's views.
A mutual respect for all members of the group.
Herding
availability bias
Regret
hindsight bias
trend-chasing effect
overconfidence
confirmation bias
Self attribution bias
Hindsight bias
Regret aversion
disposition effect
Halo effect
home bias
首先说一下复习原则：
如果某一个章节计算比较多，一般需要记忆的考点就比较少，比如SS15，所以有些科目天然需要记忆的内容多，有些地方天然要记忆的地方少
如果考到需要记忆的内容，一般都是让你写2点，所以优先记忆2-3个点即可，不需要全部记忆。
再说一下复习方法：
根据提供的知识框架图，先建立起整体的框架感，因为有一些知识点不需要你能默写下来，但是要有印象，比如权益里面被动投资有几种方法。这样的框架感通过知识框架图可以搞定。
看完知识框架图之后，看提供给大家的必背知识点，需要记忆，因为可能需要大家凭空书写的。
原版书中非选择题部分。可以发现历年真题中，都有一些认为不太可能会考到的部分，在原版书非选择题中都有影子，因此，在完成第2步之后，接下来就是记忆原版书非选择题习题了。这部分根据提供的原版书后必背习题即可搞定。
经过这3个步骤，加上重要计算题熟悉，相信应付CFA考试上午题以及下午题都可以了。
大家加油哦。
