Matches in SemOpenAlex for { <https://semopenalex.org/work/W2086720573> ?p ?o ?g. }
Showing items 1 to 90 of
90
with 100 items per page.
- W2086720573 abstract "The 1960 issue of the Financial Analysts Journal contains a pair of remarkable articles. In the first, Edward F. Renshaw and Paul J. Feldstein proposed the creation of what we know today as index funds. In the second, John B. Armstrong argued against index funds. John B. Armstrong is a pen-name of John C. Bogle, the founder of Vanguard who introduced the first of many index mutual funds in 1976 and remains their foremost advocate. Bogle reflected on index funds and changed his mind. The 60th anniversary of the Financial Analysts Journal is an opportunity for all of us to reflect on past changes of mind and perhaps contemplate future ones. The year 1960 was in the midst of an extraordinary time when academics and practitioners of finance were changing their minds, switching from a framework where investors are normal to one where investors are rational. Normal investors are affected by cognitive biases and emotions, while rational investors are not. Rational investors care only about the risk and expected return of their overall portfolios, while normal investors care about more than that. The portrait of investors as rational is the first foundation block of standard finance. Other foundation blocks are mean-variance portfolio theory, Capital Asset Pricing Model (CAPM), and market efficiency. I describe normal investors as they were portrayed in the Financial Analysts Journal and other finance journals before standard finance was introduced and as they emerged more recently in behavioral finance." @default.
- W2086720573 created "2016-06-24" @default.
- W2086720573 creator A5029371673 @default.
- W2086720573 date "2004-01-01" @default.
- W2086720573 modified "2023-10-14" @default.
- W2086720573 title "Normal Investors, Then and Now" @default.
- W2086720573 cites W1571179687 @default.
- W2086720573 cites W1716623203 @default.
- W2086720573 cites W1811983530 @default.
- W2086720573 cites W1821315764 @default.
- W2086720573 cites W1926291594 @default.
- W2086720573 cites W1989933399 @default.
- W2086720573 cites W2019025561 @default.
- W2086720573 cites W2030110374 @default.
- W2086720573 cites W2040601152 @default.
- W2086720573 cites W2083257361 @default.
- W2086720573 cites W2088204895 @default.
- W2086720573 cites W2096362300 @default.
- W2086720573 cites W2115299641 @default.
- W2086720573 cites W2122127533 @default.
- W2086720573 cites W2123343520 @default.
- W2086720573 cites W2132343706 @default.
- W2086720573 cites W2132631395 @default.
- W2086720573 cites W2153920944 @default.
- W2086720573 cites W2176432398 @default.
- W2086720573 cites W2176616917 @default.
- W2086720573 cites W2321648089 @default.
- W2086720573 cites W2940897671 @default.
- W2086720573 cites W3122950243 @default.
- W2086720573 cites W3125899144 @default.
- W2086720573 doi "https://doi.org/10.2139/ssrn.603684" @default.
- W2086720573 hasPublicationYear "2004" @default.
- W2086720573 type Work @default.
- W2086720573 sameAs 2086720573 @default.
- W2086720573 citedByCount "7" @default.
- W2086720573 countsByYear W20867205732013 @default.
- W2086720573 countsByYear W20867205732014 @default.
- W2086720573 crossrefType "journal-article" @default.
- W2086720573 hasAuthorship W2086720573A5029371673 @default.
- W2086720573 hasConcept C10138342 @default.
- W2086720573 hasConcept C106159729 @default.
- W2086720573 hasConcept C109574028 @default.
- W2086720573 hasConcept C136764020 @default.
- W2086720573 hasConcept C143910263 @default.
- W2086720573 hasConcept C155301685 @default.
- W2086720573 hasConcept C162118730 @default.
- W2086720573 hasConcept C162324750 @default.
- W2086720573 hasConcept C181236170 @default.
- W2086720573 hasConcept C19244329 @default.
- W2086720573 hasConcept C206757995 @default.
- W2086720573 hasConcept C2777382242 @default.
- W2086720573 hasConcept C2780821815 @default.
- W2086720573 hasConcept C39389867 @default.
- W2086720573 hasConcept C41008148 @default.
- W2086720573 hasConcept C6243943 @default.
- W2086720573 hasConcept C9725762 @default.
- W2086720573 hasConceptScore W2086720573C10138342 @default.
- W2086720573 hasConceptScore W2086720573C106159729 @default.
- W2086720573 hasConceptScore W2086720573C109574028 @default.
- W2086720573 hasConceptScore W2086720573C136764020 @default.
- W2086720573 hasConceptScore W2086720573C143910263 @default.
- W2086720573 hasConceptScore W2086720573C155301685 @default.
- W2086720573 hasConceptScore W2086720573C162118730 @default.
- W2086720573 hasConceptScore W2086720573C162324750 @default.
- W2086720573 hasConceptScore W2086720573C181236170 @default.
- W2086720573 hasConceptScore W2086720573C19244329 @default.
- W2086720573 hasConceptScore W2086720573C206757995 @default.
- W2086720573 hasConceptScore W2086720573C2777382242 @default.
- W2086720573 hasConceptScore W2086720573C2780821815 @default.
- W2086720573 hasConceptScore W2086720573C39389867 @default.
- W2086720573 hasConceptScore W2086720573C41008148 @default.
- W2086720573 hasConceptScore W2086720573C6243943 @default.
- W2086720573 hasConceptScore W2086720573C9725762 @default.
- W2086720573 hasLocation W20867205731 @default.
- W2086720573 hasOpenAccess W2086720573 @default.
- W2086720573 hasPrimaryLocation W20867205731 @default.
- W2086720573 hasRelatedWork W1967023780 @default.
- W2086720573 hasRelatedWork W1976060185 @default.
- W2086720573 hasRelatedWork W2015502759 @default.
- W2086720573 hasRelatedWork W2026515139 @default.
- W2086720573 hasRelatedWork W2035611246 @default.
- W2086720573 hasRelatedWork W2100209587 @default.
- W2086720573 hasRelatedWork W2467697427 @default.
- W2086720573 hasRelatedWork W3088894296 @default.
- W2086720573 hasRelatedWork W3126289917 @default.
- W2086720573 hasRelatedWork W4256019515 @default.
- W2086720573 isParatext "false" @default.
- W2086720573 isRetracted "false" @default.
- W2086720573 magId "2086720573" @default.
- W2086720573 workType "article" @default.