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| Tekijä: | Dorn, D. Huberman, G. |
| Otsikko: | Talk and action: what individual investors say and what they do |
| Lehti: | Review of finance
2005 : VOL. 9:4, p. 437-481 |
| Asiasana: | investors portfolio management risk aversion |
| Kieli: | eng |
| Tiivistelmä: | The article examines some of the causes for the apparent failure to buy and hold a well-diversified portfolio by combaining survey responses and trading records of clients of a German retail broker. The subjective investor attributes gleaned from the survey help explain the variation in actual portfolio and trading choices. Self-reported risk aversion is the single most important determinant of both portfolio diversification and turnover. |
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