{"product_id":"managing-equity-portfolios-isbn-9780262547901","title":"Managing Equity Portfolios","description":"\u003cb\u003eA groundbreaking framework for improving portfolio performance that goes beyond traditional analytics, offering new ways to understand investment skills, process, and behaviors.\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003ePortfolio management is a tough business. Each day, managers face the challenges of an ever-changing and unforgiving market, where strategies and processes that worked yesterday may not work today, or tomorrow. The usual advice for improving portfolio performance—refining your strategy, staying within your style, doing better research, trading more efficiently—is important, but doesn't seem to affect outcomes sufficiently. This book, by an experienced advisor to institutional money managers, goes beyond conventional thinking to offer a new analytic framework that enables investors to improve their performance confidently, deliberately, and simply, by applying the principles of behavioral finance.\u003cbr\u003e\u003cbr\u003eW. Edwards Deming observed that you can't improve what you don't measure. Active portfolio management lacks methods for measuring key inputs to management success like skills, process, and behavioral tendencies. Michael Ervolini offers a conceptually straightforward and well-tested framework that does just that, with evidence of how it helps managers enhance self-awareness and become better investors. In a series of short, accessible chapters, Ervolini investigates a range of topics from psychology and neuroscience, describing their relevance to the challenges of portfolio management. Finally, Ervolini offers seven ideas for improving. These range from maintaining an investment diary to performing rudimentary calculations that quantify basic skills; each idea, or “project,” helps managers gain a deeper understanding of their strengths and shortcomings and how to use this knowledge to improve investment performance.Foreword by Terrance Odean ix\u003cbr\u003ePreface xv\u003cbr\u003eAcknowledgments xvii\u003cbr\u003eIntroduction xix\u003cbr\u003ePart One: Game Change\u003cbr\u003e1 Industry Challenges 3\u003cbr\u003e2 Why Johnny Can't Improve 19\u003cbr\u003e3 New Analytic Framework 39\u003cbr\u003e4 Process and Behaviors 51\u003cbr\u003e5 Feedback in Action 67\u003cbr\u003e6 Phantastic Risks 77\u003cbr\u003ePart Two: Behavioral Matters\u003cbr\u003e7 What Drives Selling? 87\u003cbr\u003e8 Sell the Way You Buy--Strategically 91\u003cbr\u003e9 Bearing Up in a Bear Market 95\u003cbr\u003e10 Aching Conviction 99\u003cbr\u003e11 Unconscious Deliberation 103\u003cbr\u003e12 Investing in Self-Awareness 107\u003cbr\u003e13 Stressing Performance 111\u003cbr\u003e14 Thesis, Narrative, or Just Another Disappointing Story 115\u003cbr\u003e15 Dreaming of Alpha 119\u003cbr\u003e16 Motivated Reasoning 123\u003cbr\u003e17 Regrettable Choices 127\u003cbr\u003e18 Endowing Success 131\u003cbr\u003e19 Counterfactual Investing 135\u003cbr\u003e20 Great Investing Is Not Natural 139\u003cbr\u003e21 Inside-Out Investing 143\u003cbr\u003e22 Beware Phantastic Investments 147\u003cbr\u003e23 Thanks for the Memories 153\u003cbr\u003e24 Skills, Process, and Behaviors 157\u003cbr\u003e25 Processing Success 161\u003cbr\u003e26 Primed for Success 165\u003cbr\u003e27 Fear, Anger, and Risk 171\u003cbr\u003e28 Successful Choices 175\u003cbr\u003e29 Changing for the Better 179\u003cbr\u003e30 Portfolio Thinking 183\u003cbr\u003e31 Promiscuous Thinking 187\u003cbr\u003e32 Getting in the Flow 191\u003cbr\u003e33 Believing is Seeing 195\u003cbr\u003e34 A Storied Portfolio 201\u003cbr\u003e35 The Trouble with Improving 207\u003cbr\u003e36 Tired Investing 211\u003cbr\u003e37 That Winning Feeling 215\u003cbr\u003e38 Hold That Thought 219\u003cbr\u003e39 Overcoming Overconfidence 223\u003cbr\u003e40 The Power of Vulnerability 227\u003cbr\u003ePart Three: Improving Right Away\u003cbr\u003eProject 1 Embracing the Scientific Method 233\u003cbr\u003eProject 2 Maintaining a Diary 239\u003cbr\u003eProject 3 Accounting for Skill 243\u003cbr\u003eProject 4 Learning about Buying Skill 249\u003cbr\u003eProject 5 Measuring Your Sell Effectiveness 253\u003cbr\u003eProject 6 Calibrating Sizing 257\u003cbr\u003eProject 7 Checklists 261\u003cbr\u003eEpilogue 267\u003cbr\u003eGlossary 271Michael A. Ervolini is CEO of Cabot Research, a global software company that provides innovative analytics to money managers to help them improve portfolio performance.","brand":"The MIT Press","offers":[{"title":"Default Title","offer_id":46300038267109,"sku":"NP9780262547901","price":40.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780262547901.jpg?v=1767732201","url":"https:\/\/k12savings.com\/es\/products\/managing-equity-portfolios-isbn-9780262547901","provider":"K12savings","version":"1.0","type":"link"}