{"product_id":"personal-benchmark-isbn-9781118963326","title":"Personal Benchmark","description":"\u003cp\u003eIn \u003ci\u003ePersonal Benchmark: Integrating Behavioral Finance and Investment Management\u003c\/i\u003e, Chuck Widger and Dr. Daniel Crosby outline the ways in which a program of embedded behavioral finance, fueled by what matters most to you, can be your protection against irrational financial behavior. Along the way, you'll learn how to improve your investment experience, increase returns formerly sacrificed to misbehavior, and worry less about \"The Economy\" as you become increasingly focused on \"My Economy.\"\u003c\/p\u003e \u003cp\u003eWelcome to a new way of investing, a new paradigm for conceptualizing wealth, and a system of turning emotion from your portfolio's worst enemy into its best friend!\u003c\/p\u003e \u003cp\u003eIn this new model, risk is simply the likelihood that we will underperform our dreams. Irrationality is acting in ways that thwart our ability to reach those dreams. And the optimal portfolio is not the one that generates the highest return in abstraction, it is the one that helps us meet our goals without killing our nerves before we get there.\u003c\/p\u003e \u003cp\u003eThis book gives advisors the tools needed to effectively communicate the design and execution of the Personal Benchmark solution.\u003c\/p\u003e  \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 1 WHY DO WE NEED TO LOOK AT INVESTING DIFFERENTLY? 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Freedom in the Market and Advisor Responsibility 9\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eChuck Widger\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThe Financial Markets 10\u003c\/p\u003e \u003cp\u003eWhat We’ve Been Up to as Advisors 15\u003c\/p\u003e \u003cp\u003eWhat Investors Really Want and Need 18\u003c\/p\u003e \u003cp\u003eA New Investment Advice Delivery System 26\u003c\/p\u003e \u003cp\u003eBrinker Capital and Personal Benchmark 29\u003c\/p\u003e \u003cp\u003eSummary 45\u003c\/p\u003e \u003cp\u003eReferences 46\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Investor Emotions and Financial Decisions 49\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eDr. Daniel Crosby\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThe Origins and Evolution of Behavioral Finance 50\u003c\/p\u003e \u003cp\u003eThe Myths of Efficiency and Rationality 52\u003c\/p\u003e \u003cp\u003eA Definition and Framework for Behavioral Finance 57\u003c\/p\u003e \u003cp\u003eSummary 77\u003c\/p\u003e \u003cp\u003eReferences 79\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Risk, This Time It's Personal 83\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eDr. Daniel Crosby\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eFallacy 1: Risk and Return Are Systematically Correlated 85\u003c\/p\u003e \u003cp\u003eFallacy 2: Investors Have a Single, Static Level of Risk Tolerance 90\u003c\/p\u003e \u003cp\u003eFallacy 3: One Man’s Risk Is Another Man’s Reasonable Probability 96\u003c\/p\u003e \u003cp\u003eBehavioral Risk and You 102\u003c\/p\u003e \u003cp\u003eSummary 104\u003c\/p\u003e \u003cp\u003eReferences 105\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 2 WHAT IS THE PERSONAL BENCHMARK APPROACH? 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Brinker Capital's Multi-Asset Class Investment Philosophy 109\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eChuck Widger\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eA Brief History of Investing 110\u003c\/p\u003e \u003cp\u003eOur Multi-Asset Class Investment Philosophy 119\u003c\/p\u003e \u003cp\u003eApplying Our Philosophy 122\u003c\/p\u003e \u003cp\u003eImplementing Our Philosophy 137\u003c\/p\u003e \u003cp\u003eSummary 151\u003c\/p\u003e \u003cp\u003eReferences 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Power of Buckets 153\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eDr. Daniel Crosby\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntentional Framing 158\u003c\/p\u003e \u003cp\u003eFraming with Purpose 160\u003c\/p\u003e \u003cp\u003eMental Accounting for Increased Rationality 161\u003c\/p\u003e \u003cp\u003eGoals-Based Mental Accounts: A Case Study 164\u003c\/p\u003e \u003cp\u003eSummary 166\u003c\/p\u003e \u003cp\u003eReferences 166\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Selection of an Active Investment Manager 169\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eChuck Widger\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003ePassive versus Active Management 170\u003c\/p\u003e \u003cp\u003eThe Successful Investment Firm 172\u003c\/p\u003e \u003cp\u003eThe Successful Investment Manager 175\u003c\/p\u003e \u003cp\u003eAn Effective Investment Management Process 176\u003c\/p\u003e \u003cp\u003eMonitoring and Assessing Performance 179\u003c\/p\u003e \u003cp\u003eSummary 187\u003c\/p\u003e \u003cp\u003eReferences 187\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 3 HOW CAN WE EXECUTE A PURPOSE-DRIVEN INVESTMENT STRATEGY? 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Using a Goals-Based Approach 191\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eDr. Daniel Crosby\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThe Allure of Determinism in Economics and Psychology 193\u003c\/p\u003e \u003cp\u003eThe Economy of One 200\u003c\/p\u003e \u003cp\u003eOur Inner Demons: A Field Guide 202\u003c\/p\u003e \u003cp\u003eLet Your “Why” Teach You “How” 209\u003c\/p\u003e \u003cp\u003eSummary 211\u003c\/p\u003e \u003cp\u003eReferences 212\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Pursuing Your Personal Benchmark 215\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eDr. Daniel Crosby\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThe Difference a Frame Makes 217\u003c\/p\u003e \u003cp\u003eLimitations in Our Decision Making 219\u003c\/p\u003e \u003cp\u003eThe Joneses, Jealousy, and Missteps 221\u003c\/p\u003e \u003cp\u003eThe Anatomy of Better Decisions 226\u003c\/p\u003e \u003cp\u003eSummary 235\u003c\/p\u003e \u003cp\u003eReferences 235\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Providing an Easy-to-Understand Explanation 237\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eChuck Widger\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eYour Best Investment 238\u003c\/p\u003e \u003cp\u003eOnce More, with Feeling 240\u003c\/p\u003e \u003cp\u003eChanging the Conversation 247\u003c\/p\u003e \u003cp\u003eThe Brinker Capital Personal Benchmark Solution 251\u003c\/p\u003e \u003cp\u003eSummary 258\u003c\/p\u003e \u003cp\u003eReferences 258\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Leveraging a Scalable Offering for Investors and Advisors 259\u003c\/b\u003e\u003cbr\u003e \u003ci\u003eChuck Widger\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eUsing Personal Benchmark 259\u003c\/p\u003e \u003cp\u003eReaping Benefits for Advisors 280\u003c\/p\u003e \u003cp\u003eSummary 282\u003c\/p\u003e \u003cp\u003eConclusion 283\u003c\/p\u003e \u003cp\u003eThe Centrality of Purpose 288\u003c\/p\u003e \u003cp\u003eFinding Meaning in the Mundane 292\u003c\/p\u003e \u003cp\u003eReferences 293\u003c\/p\u003e \u003cp\u003eAbout the Authors 295\u003c\/p\u003e \u003cp\u003eAbout the Companion Website 297\u003c\/p\u003e \u003cp\u003eIndex 299\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eCHUCK WIDGER\u003c\/b\u003e is the Founder and Executive Chairman of Brinker Capital, an investment managment firm with $17 billion in assets under management. Chuck is currently Chair of the Villanova University School of Law Board of Consultors. Chuck is a past Chair of the Gettysburg College Board of Trustees and is chair-emeritus of the Money Management Institute's Board of Governors. The Money Management Institute is the industry association for the $3.5 trillion managed solutions industry. He served as a Lieutenant in the U.S. Navy.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eD\u003csmall\u003eR\u003c\/small\u003e. DANIEL CROSBY\u003c\/b\u003e is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby constructed the \"Irrationality Index,\" a sentiment measure that gauges greed and fear in the marketplace from month to month. His ideas have appeared in print and online, and Daniel was named one of the \"12 Thinkers to Watch\" by Monster.com and a \"Financial Blogger You Should Be Reading\" by AARP. Dr. Crosby's well-reviewed first book, \u003ci\u003eYou're Not That Great\u003c\/i\u003e (2012), applies elements of behavioral finance to the pursuit of a meaningful life.    \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePersonal Benchmark\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eOne of the benefits of behavioral finance is that it shines a light on the little peccadilloes that make us the flawed but lovable people we are. But irrational as we may be, we can turn the tide on ourselves and use these quirks to our personal advantage. Just as surely as irrational simplifications can lead us to focus on the wrong things, an effective system for mentally accounting for our holdings can provide us with felt security. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003ePersonal Benchmark: Integrating Behavioral Finance and Investment Management\u003c\/i\u003e, Chuck Widger and Dr. Daniel Crosby outline the ways in which a program of embedded behavioral finance, fueled by what matters most to you, can be your protection against irrational financial behavior. Along the way, you'll learn how to improve your investment experience, increase returns formerly sacrificed to misbehavior, and worry less about \"The Economy\" as you become increasingly focused on \"My Economy.\" \u003c\/p\u003e\u003cp\u003eWelcome to a new way of investing, a new paradigm for conceptualizing wealth, and a system of turning emotion from your portfolio's worst enemy into its best friend! \u003c\/p\u003e\u003cp\u003eIn this new model, risk is simply the likelihood that we will underperform our dreams. Irrationality is acting in ways that thwart our ability to reach those dreams. And the optimal portfolio is not the one that generates the highest return in abstraction, it is the one that helps us meet our goals without killing our nerves before we get there. \u003c\/p\u003e\u003cp\u003eThis book gives advisors the tools needed to effectively communicate the design and execution of the Personal Benchmark solution.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989767241957,"sku":"NP9781118963326","price":40.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118963326.jpg?v=1761785400","url":"https:\/\/k12savings.com\/es\/products\/personal-benchmark-isbn-9781118963326","provider":"K12savings","version":"1.0","type":"link"}