Alumni

Applied Behavioral Finance: From Theory to Practice

Chicago Booth Alumni Club of Chicago

November 4, 2010: 6:00 PM - 8:00 PM

The presentation will discuss familiar behavioral finance biases, how these biases enter the decision process, and tools to mitigate their impact. The presentation will be given by James Ware, chartered financial analyst, founder of Focus Consulting Group and Keith Robinson a Focus Consulting Group Partnering Consultant. Although much of their focus is on improving investment team decision making this presentation will cover how behavioral finance impacts broader business decision making.

Where

Gleacher Center
600
450 North Cityfront Plaza Dr
Chicago, Illinois

Event Details

Behavioral Finance has created a huge body of evidence to support the idea that so-called rational people are anything but. When we fully accept that we are all-too-human and prone to decision biases, we can then honestly and courageously examine our own decision making and our team’s decision making to see where it needs improving. He writes: “In truth, we are more like Homer Simpson than the logical Mr. Spock on Star Trek. But knowing this is a good first step: self awareness leads the way to change. As any good 12-stepper knows, acknowledging and addressing the problem is the way through it to the solution. When we fully accept that we are all-too-human and prone to decision biases, we can then set about the goal of attaining investment “sobriety.” We can honestly and courageously examine our own decision making and our team’s decision making to see where it needs improving. The 12 step analogy is useful in creating a solution because a team—rather than any one individual-- is more likely to provide the necessary feedback for correcting biases. We need to trust our team mates to spot our biases and then candidly report them to us. Many investors harbor the self-deluding notion that “OTHER people cannot see THEIR blindspots, but I can see mine.” This example of the overconfidence bias (in this case, that I am more self aware than others) is possibly the biggest hindrance to correcting biases.” The presentation will discuss familiar behavioral finance biases, how these biases enter the decision process and tools to mitigate their impact. The presentation will be given by James Ware, CFA, the founder of Focus Consulting Group and Keith Robinson a Focus Consulting Group Partnering Consultant. Although much of their focus is on improving investment team decision making this presentation will cover how behavioral finance impacts broader business decision making.

Cost

$20 for Alumni Club Members $30 for all others

Registration

Register Online

Deadline: 11/3/2010

Program

6:00 PM-6:30 PM: Light Dinner & Networking

6:30 PM-8:00 PM: Program with Speakers

Speaker Profiles

James Ware CFA (Speaker)
Founder, Focus Consulting Group

James is a highly acclaimed industry author and international speaker on the subjects of investment leadership, culture and building high performing teams. A frequent keynote speaker at CFA Institute, Mutual Fund Educational Alliance, Investment Adviser Association, U.S. Institute and other major industry conferences, James is recognized for his insightful, inspiring and entertaining presentations. His recent books, Investment Leadership: Building a Winning Culture for Long-Term Success (Wiley, 2003) and High Performing Investment Teams (Wiley, 2006) identify those elements of leadership and teamwork that lead to sustainable success for investment firms. James has 20 years experience as a research analyst, portfolio manager, and director of buy-side investment operations. He has been a guest lecturer on the topic of investment firm management at the Kellogg Graduate School of Management at Northwestern University. His educational background includes a Masters in Business from the University of Chicago and a degree in philosophy from Williams College, where he graduated Phi Beta Kappa.

Keith Robinson (Speaker)
Partnering Consultant, Focus Consulting Group

Keith is a Human Resources executive and consultant with over 25 years of global and domestic business experience. As a Focus Consulting Group Partnering Consultant, he works with asset management clients in the areas of human resources, leadership development and improving business performance through people. Throughout his career he has helped leaders drive business results by providing practical human capital solutions and strategies to a variety of business executives. Keith has provided them with valuable counsel in the areas of business and human capital strategies, talent management, leadership and personal development

Questions

Jim Curtin 

312.608.0307