Performance games: Touching a hot stove teaches some to touch it again

Journal of Portfolio Management

Volumn 23, Issue 2, 1997, Pages 8-15

  Bowen Jr , John J ^a   Statman, Meir ^b  

^a CEO   (United States)

^b SANTA CLARA UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0031498280     PISSN: 00954918     EISSN: None     Source Type: Journal    
DOI: 10.3905/jpm.23.2.8     Document Type: Article

References (15)

1. Brown, Keith, Van Harlow, and Laura Starks. "On Tournaments and Temptations: An Analysis of Managerial Incentives in the Mutual Fund Industry." Journal of Finance, 51, 1 (March 1996), pp. 85-110.
2. Clarke, Roger G., Scott Krase, and Meir Statman. "Tracking Errors, Regret, and Tactical Asset Allocation." Journal of Portfolio Management, Spring 1994, pp. 16-24.
3. Damato, Karen. "Morningstar, Making Peace With NASD, Agrees to One-Year Performance Ratings." Wall Street Journal, May 6, 1996.
4. Elton, Edwin J., Martin J. Gruber, and Christopher R. Blake. "The Persistence of Risk-Adjusted Mutual Fund Performance." Journal of Business, 69, 2 (April 1996).
5. Fischhoff, Baruch. "Hindsight ≠ Foresight." Journal of Experimental Psychology: Human Perceptions and Performance, 1 (1975), pp. 288-299.
6. Gasparino, Charles. "Small-Company Stocks Propelled Fund Winners in Latest Ratings." Wall Street Journal, July 3, 1996, p. R3.
7. Grinblatt, Mark, and Sheridan Titman. "How Clients Can Win the Gaming Game." Journal of Portfolio Management, Summer 1987, pp. 14-20.
8. Kahneman, Daniel, and Amos Tversky. "On the Psychology of Prediction." Psychological Review, 80 (1973), pp. 237-251.
9. Malkiel, Burton G. "Returns From Investing in Equity Funds." Journal of Finance, 50 (June 1995), pp. 549-572.
10. Nesbitt, Stephen. "Buy High, Sell Low: Timing Errors in Mutual Fund Allocations." Journal of Portfolio Management, Fall 1995, pp. 57-60.
11. Rogé, Ronald. "Benchmarking a Client's Portfolio Return." Financial Consultant, 1 (Spring 1996), pp. 9-12.
12. Roll, Richard. "A Mean/Variance Analysis to Tracking Error." Journal of Portfolio Management, Summer 1992, pp. 13-22.
13. Saks, Michael, and Robert Kidd. "Human Information Processing and Adjudication: Trial by Heuristics." Law and Society Review, 15, 1 (1980), pp. 123-160.
14. Sharpe, William. "Asset Allocation: Management Style and Performance Measurement." Journal of Portfolio Management, Winter 1992, pp. 7-19.
15. Tversky, Amos, and Daniel Kahneman. "Belief in the Law of Small Numbers." Psychological Bulletin, 2 (1971), pp. 105-110.