Behavioral finance is applied to the real world.

Understanding how to use behavioral finance theory in investing is a hot topic. Financial advising should be about guiding investors to make decisions that serve their best interests, according to Daniel Kahneman. The reality? That is more difficult than done. In. Second edition. Of. Wealth management and behavioral finance. Michael Pompian takes a practical approach to the growing science of behavioral finance and puts it to use for real investors. He applies knowledge of 20 of the most prominent investor biases into asset allocation decisions. Pompian shows how to create investment strategies that leverage the latest cutting edge research into behavioral biases of individual investors in a self-help book. This is a book.

• Shows investors and financial advisors how to either moderate or adapt to behavioral biases, in order to improve investment results and identifies “the best practical allocation” for investment portfolios. Using these two sound approaches for guiding investment decision-making, behavioral biases are incorporated into the portfolio management process
• Uses updated cases studies to show investors and financial advisors how an investor’s behavior can be modified to improve investment decision-making
• Provides useable methods for creating behaviorally modified investment portfolios, which may help investors to reach their long term financial goals
• Heightens awareness of biases so that financial decisions and resulting economic outcomes are improved
• Offers advice on managing the effects of each bias in order to improve investment results

This is what it is. Second edition. Financial advisors and their clients can get practical advice about how to apply the science of behavioral finance to improve overall investment decision making.

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