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Investment Management and Mismanagement

History, Findings, and Analysis

  • Book
  • © 2006

Overview

Authors:
  1. Seth C. Anderson

    1. University of North Florida, USA

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  • Includes an analysis of the literature on individual investor behavior
  • Includes an analysis of the literature on professional investor behavior
  • Includes an analysis of the literature on both suitability and churning
  • Focuses directly on all of the reasons for investments management underperformance
  • Includes supplementary material: sn.pub/extras

Part of the book series: Innovations in Financial Markets and Institutions (IFMI, volume 17)

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xi
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  2. Introduction

    Pages 1-2

  3. The Investment Process

    Pages 3-5

  4. The Historical Backdrop for Investment Management

    Pages 7-28

  5. Market Eefficiency and Anomalies

    Pages 29-38

  6. The Efficacy of Analysts’ Recommendations

    Pages 39-50

  7. Studies of Institutional Portfolio Performance

    Pages 51-71

  8. Studies of Individual Portfolio Performance

    Pages 73-84

  9. Investiment Costs and the Mismanagement Issue

    Pages 85-97

  10. Suitability

    Pages 99-109

  11. Churning

    Pages 111-143

  12. Conclusion

    Pages 145-146

  13. Back Matter

    Pages 147-178
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Keywords

About this book

Investment Management and Mismanagement: History, Findings, and Analysis will present the reader with: (1) a brief overview of portfolio management and its historical evolution , (2) the findings of a substantial amount of academic research into the performance of portfolio managers, (3) the various issues associated with both institutional and individual portfolio mismanagement, and (4) a treatment of the areas of suitability and churning The articles referenced are primarily works from academic journals, including: The Journal of Finance, Journal of Financial Economics, and others, as well as from practitioner-oriented venues, such as Financial Analyst Journal and various law journals. This work should be of value to academic researchers as a convenient source of summarized studies in these areas, while practitioners will find value its content as an efficient reference for determining the benefits of asset management as well as potential pitfalls.

Authors and Affiliations

  • University of North Florida, USA

    Seth C. Anderson

About the author

Seth Anderson is a Professor of Finance with expertise in Investments/International Finance at the University of North Florida. He has served as a research consultant for several large pension plans including EIDupont. He also served as an expert witness work in the area of portfolio management. He is the author of Mutual Funds: Fifty Years of Research Findings, Closed-End Fund Pricing: Theories and Evidence, Initial Public Offerings: Findings and Theories, and Closed End Investment Companies: Issues and Answers. He has also authored more than forty articles published in Journal of Financial Research, Financial Services Review, Journal of Behavioral Economics, Financial Analysts Journal, Journal of Portfolio Management among others. His research findings have been cited in Barron’s, Business Week, CBS Radio News, Forbes, Money, Mutual Fund Magazine, The Wall Street Journal, and other national and local media.

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