four
5,087 posts
msg #111684
- Ignore four
modified |
2/24/2013 8:20:34 PM
http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1274114_code327099.pdf?abstractid=1002092&mirid=1
Why Inexperienced Investors Do Not Learn: They Do Not Know Their Past Portfolio Performance
Markus Glaser
Ludwig-Maximilians-Universität Munich - Faculty of Business Administration (Munich School of Management)
Martin Weber
University of Mannheim - Department of Banking and Finance; Centre for Economic Policy Research (CEPR)
November 15, 2007
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gloria garrison
23 posts
msg #111718
- Ignore gloria garrison |
2/25/2013 11:24:07 AM
I see you did not provide any helpful advice only critisim when the fact is that inexperenced need guidence such as to watch size on the last, bid, and ask (last-size, bid-size, ask-size) to be sure price is actually moving with actual trading interest versus being manipulated with itsy bitsy dollar-amount trades, that traders should wait till 11:30 am EST before investing so as to let a winner pull back in price etc...
signed stocksforextradingeducation@gmail.com
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decipherlinda
133 posts
msg #111737
- Ignore decipherlinda |
2/25/2013 2:01:07 PM
From the referenced article: "we can conclude that we find evidence that investor experience lessens the simple mathematical error of estimating portfolio returns, but seems not to influence their behavioral mistakes pertaining to how good (in absolute sense or relative to other investors) they are."
Read as:
Inexperienced investors tend not to have a good handle on their portfolio performance. More experienced investors have a better understanding of their portfolio performance, although both groups make mistakes in estimating the quality of their investing performance.
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