Coca-Cola Freestyle and the Nightmare of Too Much Choice
Source: Forbes.com
July 10th, 2014
The countless little choices add up -- and it's exhausting.
Buy Now
Brian Portnoy
The Power of Simplicity in a world of Overwhelming Choice
The Investor's Paradox delivers a road map to investors overwhelmed by the complexity of markets and the innumerable choices before them. Fund companies, advisors, and pundits offer countless recommendations for investors. But how to sort through it all? Written by a seasoned investment expert in language accessible to all, The Investor's Paradox fills a wide void in the literature for those seeking the right path forward, one that is neither overly technical nor oversimplified. Finding simplicity in a complex world isn't necessarily easy, but the payoff is enormous.
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About thebookInvestors are in a jam. A troubled global economy, unpredictable markets, and a bewildering number of investment choices create a dangerous landscape for individual and institutional investors alike. To meet this challenge, most of us rely on a portfolio of fund managers to take risk on our behalves. Here, investment expert Brian Portnoy delivers a powerful framework for choosing the right ones – and avoiding the losers. Portnoy reveals that the right answers are found by confronting our own subconscious biases and behavioral quirks. A paradox we all face is the natural desire for more choice in our lives, yet the more we have, the less satisfied we become – whether we’re at the grocery store, choosing doctors, or flipping through hundreds of TV channels. So, too, with investing, where there are literally tens of thousands of funds from which to choose. Hence “the investor’s paradox”: We crave abundant investment choices to conquer volatile markets, yet with greater flexibility, the more overwhelmed and less empowered we become. |
Leveraging the fresh insights of behavioral economics, Portnoy demystifies the opaque world of elite hedge funds, addresses the limits of mass market mutual funds, and discards the false dichotomy between “traditional” and “alternative” investments. He also explores why hedge funds have recently become such a controversial and disruptive force. Turns out it’s not the splashy headlines – spectacular trades, newly minted billionaires, aggressive tactics – but something much more fundamental. The stratospheric rise to prominence and availability of alternative strategies represents a further explosion in the size and complexity of the choice set in a market already saturated with products. It constitutes something we all both crave and detest.
The Investor’s Paradox lights a path toward simplicity in a world of dangerous markets and overwhelming choice. Written in accessible, jargon-free language, with a healthy skepticism of today's money management industry, it offers not only practical tools for investment success but also a message of empowerment for investors drowning in possibility.
About theauthorBrian Portnoy, Ph.D., CFA, has been successfully investing, researching, and educating on hedge funds and mutual funds for the past fourteen years. He is currently the Director of Investment Education at Virtus Investment Partners. In that role, Brian writes and speaks about all things investing, including decision making, risk management, investor psychology, and manager due diligence. Previously, he held senior investment and strategy roles at Chicago Equity Partners, a $10 billion asset manager; Mesirow Advanced Strategies, a premier global fund-of-hedge-funds; and at Morningstar, the world's top research shop on mutual funds. He has spoken at investing conferences across the U.S., Europe, and Asia, and has appeared frequently in major media outlets such as CNBC, the Wall Street Journal, and the New York Times. Brian has lectured on hedge funds at U.S. Securities and Exchange Commission as part of their "Leading Authors" series. Prior to his investing career, Brian pursued his research and teaching interests in political economy and markets at the University of Chicago, where he earned his Ph.D. in 2000. Brian is a CFA Charterholder and a member of the CFA Society of Chicago. He is also a member of the Economic Club of Chicago. Brian lives on the north side of Chicago with his wife and three children. |
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On Questioning Alternative Investments
Source: Wall Street Journal / WSJ.com
June 6th, 2014
Questions to be raised by financial advisors regarding buying alternatives.
5 More Reasons the New Yorker Is Wrong About Hedge Funds
Source: Forbes.com
June 5th, 2014
Let's keep the debate on hedge funds sober and fact-based.
3 Reasons the New Yorker Is Wrong About Hedge Funds
Source: Forbes.com
May 27th, 2014
Taking issue with a litany of well-worn claims.
Buffett's Bad Advice
Source: Forbes
April 28th, 2014
Going "passive" doesn't mean you haven't made a choice.
Due Diligence in the Age of Convergence
March 24th, 2014
The vocation of picking the right fund managers has changed, for better or worse.
Cut to the Quick on Good Investment Decisions
Source: StockIdeas.org
March 22nd, 2014
It's less complicated than many make it out to be.
4 Questions To Help Guide Your Investment Choices
Source: Amazon Money & Markets
March 11th, 2014
Get past stale checklists and focus on what really counts.
Picking Funds in an Industry Crowded With Choice
Source: Morningstar Magazine
March 4th, 2014
An extensive interview by Morningstar Investment Services CEO Jeffrey Ptak
3 Ways to Simplify Your Money Life
Source: MarketWatch
January 15th, 2014
Be proactive, skeptical, and patient.
Featured in "How to Suss Out Your Hedge Fund" by Joshua Rogers
Source: Forbes.com
April 1st, 2013
Cutting through unfortunately popular nonsense on hedge funds
The Only Truth in Markets is Surprise
Source: Musings of a Tape Reader
April 29th, 2014
Nice discussion of Expectations Management and The Investor's Paradox.
Quoted in "The growing case against ETFs" by Chuck Jaffe
Source: MarketWatch
February 23rd, 2014
Why “better” investments may not be safer
Book Mention
Source: littlefishFX
February 18th, 2014
A giveaway contest (!) for The Investor's Paradox
Quoted in "The Power of Choice" by Dr. Helen Smith
Source: PJ Media
February 17th, 2014
What's the right amount of freedom?
"Links Between Hedge Funds and Mutual Funds"
Source: Philadelphia Inquirer
February 13th, 2014
Distinguish between the risks in your fund and the packaging it comes in.
Know Your Financial Blind Spots
Source: Forbes.com
March 17th, 2014
Regret and envy are unavoidable elements of investing.
Interview on The Investor's Paradox
Source: The Michael Dresser Show
March 4th, 2014
Michael and Brian discuss the challenges to sound investing.
The Zen of Investing
Source: Business Book Talk
March 3rd, 2014
Bob Garlick and Brian have a "coffee shop" chat about behavioral finance
Why Too Many Mutual Funds Spoil the Investor
Source: TheStreet.com
February 28th, 2014
An interview about mutual funds, liquid alternatives, and smart approaches to portfolio building.
Money Life Show with Chuck Jaffe
February 14th, 2014
Senior MarketWatch columnist Chuck Jaffe and Brian have a wide ranging conversation about fund investing.
Forthcoming: British Virgin Islands 1st Annual Wealth Management Summit
November 20th, 2014
"The New Age of Financial Advice"
Forthcoming: Foundation Financial Officers Group (Boston)
October 23rd, 2014
"Investor Behavior in an Era of Turbulent Markets and Too Much Choice"
Forthcoming: Financial Planning Association of Houston
September 25th, 2014
"Solving the Investor's Paradox"
Forthcoming: Huntington Asset Services Annual Client Forum (Columbus)
September 15th, 2014
"Solving the Investor's Paradox"
Morgan Stanley Advisor Forum (Atlanta)
August 21st, 2014
"Be Careful What You Wish For: Managing Expectations In Life and Investing"
Wharton Hedge Fund Network Forum (New York)
August 5th, 2014
"Foxes, Hedgehogs, and Hedge Funds: Connecting Buyers and Sellers of Complex Products"
Sector Asset Management Hedge Fund Conference (Oslo, Norway)
June 17th, 2014
"Solving the Investor's Paradox"
Credit Suisse 6th Annual Hedge Fund Leadership Conference (Hong Kong)
June 10th, 2014
"Foxes, Hedgehogs, and Hedge Funds: How to Attract and Retain Capital in Ultra-Competitive Markets"
Worth Magazine Leading Wealth Advisors Summit (Chicago)
June 2nd, 2014
"Be Careful What You Wish For: Managing Expectations in Life and Investing"
Nomura/Instinet Global Quantitative Investment Strategies Conference (New York)
May 15th, 2014
"Miles Davis Was a Hedge Fund Manager: The Science of Making Things Up"
CFA Societies of Dallas and Fort Worth
May 13th, 2014
"Finding Simplicity in a World of Dangerous Markets"
CFA Society Chicago
March 18th, 2014
Monthly Book Club Series: Discussion of The Investor's Paradox
Worth Magazine Leading Wealth Advisors Summit (Los Angeles, CA)
March 10th, 2014
"Bad Wine, Bronze Medals, & Velvet Ropes"
Morningstar Ibbotson Conference (Phoenix, AZ)
February 21st, 2014
"Jazz, Firefighters, & Hedge Funds"
Securities Traders Association of Chicago (STAC) Winter Meetings (Chicago, IL)
January 23rd, 2014
Panel discussion on "Trader Tendencies, Group Think, & Investor Behavior"
Securities and Exchange Commission's "Leading Authors Series" (Washington, DC)
January 10th, 2014
"Hedge Funds, History, & Hysteria"
University of Massachusetts-Amherst Graduate Finance Program
November 14th, 2013
"Conventional and Unconventional Notions of Alpha in Manager Due Diligence"
Rothstein Kass West Coast Private Funds Forum (San Francisco, CA)
October 24th, 2013
Round table on the current state of hedge fund investing
Arete Wealth Management Conference (Annapolis, MD)
May 7th, 2013
"Foxes, Hedgehogs, and Hedge Funds"
Deutsche Bank Emerging Managers Symposium
April 9th, 2013
Panel discussion "Key Decisions in Operational Due Diligence"