• Be aware of your own emotions and cognitive traps to make smarter decisions.
• Step away from yourselves to be more rational.
• Remember that we unconsciously make decisions based on positive memories.
• Learn about financial history to reduce the number of mistakes. Do not extrapolate recent past.
• Keep a well-diversified portfolio and an investment diary.
• Have a Financial Plan.
- The document analyzes the recent stock market decline and concludes it was relatively minor compared to past downturns.
- U.S. companies are currently in better financial shape than during previous downturns and several economic indicators do not currently signal a recession.
- While stocks are volatile in the short-term, they have consistently outperformed other asset classes over long periods and diversification helps reduce risk.
1) Selecting good mutual funds is extremely difficult as only 20% may outperform their benchmark over the long run and 40% of funds from 10 years ago are no longer in existence.
2) Both qualitative and quantitative factors must be analyzed to select funds, including the people and process behind the fund, fees, performance metrics, and consistency with the stated investment philosophy.
3) Most active funds underperform their benchmarks, so investors must decide whether to pursue an active or passive strategy based on their goals, beliefs about market efficiency, and ability to identify skilled managers. Choosing funds requires extensive research and analytical skills.
The document provides an overview of the educational components and opportunities for members of the UCREC (University of Chicago Real Estate Council) for Winter 2010. It includes information on finance basics, REITs (Real Estate Investment Trusts), company presentations, mentoring opportunities, and accomplishments from Fall 2009. Some key events mentioned are a presentation from Bank of America on February 1st and the hosting of a real estate case competition in 2011.
The document analyzes the state of the US housing market following the 2008 crisis. It finds that median home prices have fallen 27% and inventory is lower. Housing affordability is high due to low mortgage payments compared to household income. However, home construction is low relative to population growth, and renting has become more expensive than buying. The analysis presents a generally positive outlook for the housing market.
- The document analyzes the recent stock market decline and concludes it was relatively minor compared to past downturns.
- U.S. companies are currently in better financial shape than during previous downturns and several economic indicators do not currently signal a recession.
- While stocks are volatile in the short-term, they have consistently outperformed other asset classes over long periods and diversification helps reduce risk.
1) Selecting good mutual funds is extremely difficult as only 20% may outperform their benchmark over the long run and 40% of funds from 10 years ago are no longer in existence.
2) Both qualitative and quantitative factors must be analyzed to select funds, including the people and process behind the fund, fees, performance metrics, and consistency with the stated investment philosophy.
3) Most active funds underperform their benchmarks, so investors must decide whether to pursue an active or passive strategy based on their goals, beliefs about market efficiency, and ability to identify skilled managers. Choosing funds requires extensive research and analytical skills.
The document provides an overview of the educational components and opportunities for members of the UCREC (University of Chicago Real Estate Council) for Winter 2010. It includes information on finance basics, REITs (Real Estate Investment Trusts), company presentations, mentoring opportunities, and accomplishments from Fall 2009. Some key events mentioned are a presentation from Bank of America on February 1st and the hosting of a real estate case competition in 2011.
The document analyzes the state of the US housing market following the 2008 crisis. It finds that median home prices have fallen 27% and inventory is lower. Housing affordability is high due to low mortgage payments compared to household income. However, home construction is low relative to population growth, and renting has become more expensive than buying. The analysis presents a generally positive outlook for the housing market.
- The U.S. housing market faces significant headwinds and excess supply issues that could continue depressing home prices for several more years. There is an estimated excess of over 2 million housing units that will need to be absorbed, along with 7 million distressed home sales projected over the next 5 years. Declining household formation rates and high numbers of vacant homes compared to historical averages point to challenges for the market. Risk-averse buyers remain concerned about potential further price declines, high inventories, and tight credit conditions.
The document is a questionnaire for a client seeking to develop a customized financial strategy. It aims to understand the client's situation, needs, investment horizon, risk tolerance, goals for areas like retirement, education savings, estate planning, and more. The client is asked qualitative questions about their values, finances, dreams, and preferences to help the financial advisor build an appropriate plan.
Bourbon Financial Management collects personal information from clients including name, address, phone number, social security number, income, and tax returns. They do not sell this information to third parties. They may share information with third parties only to provide client services, comply with legal requests, or prevent fraud. The company uses security practices to protect information and ensures accuracy of client data.
The document provides frequently asked questions (FAQs) about Bourbon Financial Management (BFM), an independent financial advisory firm. BFM accepts a fiduciary duty to act in clients' best interests. The owner, Patrick Bourbon, has over 15 years of experience in financial services. BFM provides investment management and advisory services for clients worldwide for a fixed annual fee based on assets under management, with no minimum portfolio size. Clients retain control of their funds and BFM does not guarantee any returns.
Bourbon Financial Management's code of ethics outlines standards of conduct for employees, including: [1] Acting with integrity, competence, and placing clients' interests above its own; [2] Using independent and objective professional judgment; [3] Maintaining confidentiality of client information. The code also addresses duties to clients such as suitability of recommendations, fair dealing, and preserving confidentiality. It prohibits misrepresentation, misconduct, and other acts that could damage the firm's reputation.
This document discusses different compensation options for financial advisors: salary only, salary plus bonus, commission based, fee-based, and fee-only. It outlines some potential pros and cons of each model from the perspective of both the advisor and client, such as incentives around certain products, fees, transparency, and conflicts of interest. The fee-only model, which the author's firm uses, is presented as having fees that are transparent and eliminating conflicts of interest between products and advice, while being potentially the least expensive option for medium to larger portfolios.
The document discusses how human behavior and emotions can negatively impact investment decision making. It provides three key points:
1) Investors tend to conform to the views of others and the "herd mentality" because agreeing with the group triggers reward centers in the brain. This can cause sudden shifts in market sentiment.
2) Learning that experts agree on the value of an investment, even if you disagree, activates brain regions associated with pain, grabbing our attention.
3) True independent thinking is difficult because conforming feels good biologically and psychologically. Investors are urged to thoroughly research investments independently of market views.
The human brain has an amazing ability to understand written language even when letters are jumbled within words, as long as the first and last letters are in the right place. This is because the brain does not read each letter individually but recognizes words as a whole. Optical illusions can confuse the eyes and brain by creating visual phenomena that appear to move, change, or be impossible through the use of patterns, shapes, and colors that trick visual perception in interesting ways.
The document discusses how culture influences investment decisions. It provides examples showing that people from different cultures have varying attitudes towards risk tolerance. Surveys found that people from high corruption countries were more likely to break parking laws, and that countries differed in their preferences for maximization and regret avoidance. Individualistic cultures tend to be more risk tolerant than collectivistic cultures due to differences in downside protection. Islamic finance principles prohibit interest, require ethical investments, and forbid speculation. Financial advisors must understand a client's cultural background to provide suitable advice.
The document summarizes that:
1) The recent summer stock market decline was relatively small compared to past corrections.
2) The US economy and company fundamentals do not indicate an impending recession.
3) Stock valuations remain reasonable given long-term market trends of volatility followed by growth.
a) Research has shown that people tend to discount the value of delayed benefits and prefer immediate rewards. In experiments, subjects were more likely to choose lowbrow movies for same-night viewing and movies improved over time.
b) Additional experiments demonstrated that people discount the value of a reward more when the delay is shorter rather than longer. Subjects preferred one cup of orange juice immediately over two cups after five minutes but chose two cups over one cup after a 25 minute delay.
c) Studies also found that people do not always make logical financial decisions even when acknowledging they would be better off. While most employees recognized they were under-saving, very few increased their savings rate as they had planned, showing the
1) The document discusses challenges in financial advising from the perspective of behavioral finance. It covers intuitive vs reflective minds, investor paralysis after the 2008 crisis, lack of investor discipline, and loss of trust in financial institutions.
2) To address investor paralysis, the document recommends an "Invest More Tomorrow" strategy where investors pre-commit to periodic investments to overcome loss aversion and procrastination.
3) To address lack of discipline, it suggests a "Ulysses Strategy" where investors pre-commit to a rational investment plan through a signed memorandum to resist herd behavior.
4) To regain trust, advisers should demonstrate competence by admitting luck, discussing downsides, showing empathy through frequent contact, and
1. The document summarizes research on behavioral economics and investment decision making, outlining factors that influence risk appetite and decisions like myopic loss aversion, information overload, and sunk cost bias.
2. It recommends practices for investors like continuously learning, understanding objectives and risk tolerance, comprehensively evaluating options, and not making comparisons or changing investments too frequently.
3. The conclusion urges focusing on feeling good when making important decisions and gaining a pragmatic approach through recommendations to become a cognizant long-term investor.
The document summarizes key points from a talk by Dan Ariely on behavioral economics and irrational decision making. [1] Vision can strongly influence judgments through illusions, like perceiving different lengths or colors based on background. [2] "Default" options, like opt-in vs opt-out organ donation, significantly impact choices by exploiting human tendency to pick the easier option. [3] Even professionals make irrational lapses, like surgeons not exploring alternative treatments due to complexity. Happiness depends more on relative salary than absolute salary. Preferences are influenced by how choices are framed through comparison.
Be Aware of your Emotions - Step Away from Yourself
How to Pick Better Mutual Funds
Let's Put Things in Perspective
Human Brain and Decision-Making
Challenges in Financial Advising from the scope of Behavioral Finance
Countries and Culture in Behavioral Finance
Investment Decision Making
Markets Trends: Bullish, But How Long?
Rationality & Decision Making
Investors Fail do Capture the Returns they Expected + Chasing Performance May Lower your Returns
Let's Be Positive!
Humans Can't Analyze all the Information Received
Train your Brain to Win Big
So That's Why Investors Can't Think for Themselves
www.bourbonfm.com
http://www.linkedin.com/in/patrickbourbon
Patrick Bourbon used his skills in anticipating changes and independent thinking developed at UBS to launch his own investment advisory firm, Bourbon Financial Management, during a time of global financial crisis. His firm provides independent financial advice and long-term investments to help clients achieve their goals. Bourbon emphasizes education and ethics to rebuild trust in the financial system. He also teaches finance and supports his community.
Mutual Fund Taxation – How Mutual Funds Are Taxeddhvikdiva
Divadhvik explains Mutual Fund Taxation clearly: Equity funds held over a year are taxed at 10% for gains over ₹1 lakh, while short-term gains are taxed at 15%. Debt funds held over three years are taxed at 20% post-indexation. Short-term gains are taxed as per your income slab.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
- The U.S. housing market faces significant headwinds and excess supply issues that could continue depressing home prices for several more years. There is an estimated excess of over 2 million housing units that will need to be absorbed, along with 7 million distressed home sales projected over the next 5 years. Declining household formation rates and high numbers of vacant homes compared to historical averages point to challenges for the market. Risk-averse buyers remain concerned about potential further price declines, high inventories, and tight credit conditions.
The document is a questionnaire for a client seeking to develop a customized financial strategy. It aims to understand the client's situation, needs, investment horizon, risk tolerance, goals for areas like retirement, education savings, estate planning, and more. The client is asked qualitative questions about their values, finances, dreams, and preferences to help the financial advisor build an appropriate plan.
Bourbon Financial Management collects personal information from clients including name, address, phone number, social security number, income, and tax returns. They do not sell this information to third parties. They may share information with third parties only to provide client services, comply with legal requests, or prevent fraud. The company uses security practices to protect information and ensures accuracy of client data.
The document provides frequently asked questions (FAQs) about Bourbon Financial Management (BFM), an independent financial advisory firm. BFM accepts a fiduciary duty to act in clients' best interests. The owner, Patrick Bourbon, has over 15 years of experience in financial services. BFM provides investment management and advisory services for clients worldwide for a fixed annual fee based on assets under management, with no minimum portfolio size. Clients retain control of their funds and BFM does not guarantee any returns.
Bourbon Financial Management's code of ethics outlines standards of conduct for employees, including: [1] Acting with integrity, competence, and placing clients' interests above its own; [2] Using independent and objective professional judgment; [3] Maintaining confidentiality of client information. The code also addresses duties to clients such as suitability of recommendations, fair dealing, and preserving confidentiality. It prohibits misrepresentation, misconduct, and other acts that could damage the firm's reputation.
This document discusses different compensation options for financial advisors: salary only, salary plus bonus, commission based, fee-based, and fee-only. It outlines some potential pros and cons of each model from the perspective of both the advisor and client, such as incentives around certain products, fees, transparency, and conflicts of interest. The fee-only model, which the author's firm uses, is presented as having fees that are transparent and eliminating conflicts of interest between products and advice, while being potentially the least expensive option for medium to larger portfolios.
The document discusses how human behavior and emotions can negatively impact investment decision making. It provides three key points:
1) Investors tend to conform to the views of others and the "herd mentality" because agreeing with the group triggers reward centers in the brain. This can cause sudden shifts in market sentiment.
2) Learning that experts agree on the value of an investment, even if you disagree, activates brain regions associated with pain, grabbing our attention.
3) True independent thinking is difficult because conforming feels good biologically and psychologically. Investors are urged to thoroughly research investments independently of market views.
The human brain has an amazing ability to understand written language even when letters are jumbled within words, as long as the first and last letters are in the right place. This is because the brain does not read each letter individually but recognizes words as a whole. Optical illusions can confuse the eyes and brain by creating visual phenomena that appear to move, change, or be impossible through the use of patterns, shapes, and colors that trick visual perception in interesting ways.
The document discusses how culture influences investment decisions. It provides examples showing that people from different cultures have varying attitudes towards risk tolerance. Surveys found that people from high corruption countries were more likely to break parking laws, and that countries differed in their preferences for maximization and regret avoidance. Individualistic cultures tend to be more risk tolerant than collectivistic cultures due to differences in downside protection. Islamic finance principles prohibit interest, require ethical investments, and forbid speculation. Financial advisors must understand a client's cultural background to provide suitable advice.
The document summarizes that:
1) The recent summer stock market decline was relatively small compared to past corrections.
2) The US economy and company fundamentals do not indicate an impending recession.
3) Stock valuations remain reasonable given long-term market trends of volatility followed by growth.
a) Research has shown that people tend to discount the value of delayed benefits and prefer immediate rewards. In experiments, subjects were more likely to choose lowbrow movies for same-night viewing and movies improved over time.
b) Additional experiments demonstrated that people discount the value of a reward more when the delay is shorter rather than longer. Subjects preferred one cup of orange juice immediately over two cups after five minutes but chose two cups over one cup after a 25 minute delay.
c) Studies also found that people do not always make logical financial decisions even when acknowledging they would be better off. While most employees recognized they were under-saving, very few increased their savings rate as they had planned, showing the
1) The document discusses challenges in financial advising from the perspective of behavioral finance. It covers intuitive vs reflective minds, investor paralysis after the 2008 crisis, lack of investor discipline, and loss of trust in financial institutions.
2) To address investor paralysis, the document recommends an "Invest More Tomorrow" strategy where investors pre-commit to periodic investments to overcome loss aversion and procrastination.
3) To address lack of discipline, it suggests a "Ulysses Strategy" where investors pre-commit to a rational investment plan through a signed memorandum to resist herd behavior.
4) To regain trust, advisers should demonstrate competence by admitting luck, discussing downsides, showing empathy through frequent contact, and
1. The document summarizes research on behavioral economics and investment decision making, outlining factors that influence risk appetite and decisions like myopic loss aversion, information overload, and sunk cost bias.
2. It recommends practices for investors like continuously learning, understanding objectives and risk tolerance, comprehensively evaluating options, and not making comparisons or changing investments too frequently.
3. The conclusion urges focusing on feeling good when making important decisions and gaining a pragmatic approach through recommendations to become a cognizant long-term investor.
The document summarizes key points from a talk by Dan Ariely on behavioral economics and irrational decision making. [1] Vision can strongly influence judgments through illusions, like perceiving different lengths or colors based on background. [2] "Default" options, like opt-in vs opt-out organ donation, significantly impact choices by exploiting human tendency to pick the easier option. [3] Even professionals make irrational lapses, like surgeons not exploring alternative treatments due to complexity. Happiness depends more on relative salary than absolute salary. Preferences are influenced by how choices are framed through comparison.
Be Aware of your Emotions - Step Away from Yourself
How to Pick Better Mutual Funds
Let's Put Things in Perspective
Human Brain and Decision-Making
Challenges in Financial Advising from the scope of Behavioral Finance
Countries and Culture in Behavioral Finance
Investment Decision Making
Markets Trends: Bullish, But How Long?
Rationality & Decision Making
Investors Fail do Capture the Returns they Expected + Chasing Performance May Lower your Returns
Let's Be Positive!
Humans Can't Analyze all the Information Received
Train your Brain to Win Big
So That's Why Investors Can't Think for Themselves
www.bourbonfm.com
http://www.linkedin.com/in/patrickbourbon
Patrick Bourbon used his skills in anticipating changes and independent thinking developed at UBS to launch his own investment advisory firm, Bourbon Financial Management, during a time of global financial crisis. His firm provides independent financial advice and long-term investments to help clients achieve their goals. Bourbon emphasizes education and ethics to rebuild trust in the financial system. He also teaches finance and supports his community.
Mutual Fund Taxation – How Mutual Funds Are Taxeddhvikdiva
Divadhvik explains Mutual Fund Taxation clearly: Equity funds held over a year are taxed at 10% for gains over ₹1 lakh, while short-term gains are taxed at 15%. Debt funds held over three years are taxed at 20% post-indexation. Short-term gains are taxed as per your income slab.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...Donc Test
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
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