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Alternative Market Briefing

Biases that go deeper than education and why only a very few investors select the best asset managers
Thursday, March 22, 2018

Komfie Manalo, Opalesque Asia:

Its not just because of education, but partially due to the biases that are defined by behavioral finance and other psychologically oriented research that may hold up investors and advisors from implementing the investment decisions that have the greatest probability of success, said Dr. Bret Diamond, chairman, CIO and founder of The Fortune Group and AlphaStars Portfolio Science.

He said, "Not everyone is geared to be the most thoughtful, savvy and wealthy investor. The people who are in that position usually are there for a reason. If they are looking for an investment they perform as well as they have done in the other parts of their life and they are thrilled to find people like us to manage their portfolios for them. Very few are completely prepared for such a high level of achievement.

"In any competitive field by definition only a small percentage will be the very best. So only a small percentage of investors are truly equipped to select the very best asset managers for their wealth."

People make decisions about asset managers on very low success probability

Speaking at the latest Opalesque 2018 Miami Roundtable, Diamond explained that in terms of human psychology, many people make their decisions about asset managers based on factors that have a very low probability to lead to succ......................

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