An Introduction

I found a copy of item 3, of the to read list Irrational Exuberance - Shleifer (2000), so that is where I have started. The book was published just before the burst of the Internet bubble as Shleifer warned that the market was overpriced. The argument from academia was that the market was efficient so this shouldn't be the case. The market also stayed overpriced for so long that people who argued this were simply sidelined for not accepting the `new world'. It is a little strange reading this book after the burst, and subsequent inflation of a new bubble, and subsequent burst.

But this is case and point for the aim of this study. If an asset manager correctly assesses the market and makes the right decisions, aware that it is difficult/impossible to time the market... Can they keep their clients through that? If clients join just after significant outperformance, and leave just after the crash... the skill of the asset manager counts for nothing.

From behaviouralfinance.net , here is an introduction to the field of behavioural finance.

Wikipedia also provides a:

• History
• Methodology
• List of Topics
• ... Key Conclusions
• ... Key Figures and Scholars
• ... References