Why Active Investment Management is Popular: The Psychology of Extraordinary Beliefs

If the stockmarket is efficient, and if few investors can beat the market, why are most portfolios managed actively (seeking mispriced assets) rather than passively (matching an index)? This article looks at three possible explanations, favouring an explanation in terms of cognitive psychology.

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Year of publication:	1996
Authors:	Lofthouse, Stephen
Published in:	Journal of Interdisciplinary Economics. - Vol. 7.1996, 1, p. 41-61

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011095327