In the financial world, everybody knows buying should occur in bear markets and selling in bull markets. But strangely many people have a tendency to do exactly the contrary.
This hard to believe behaviour relates to the psychology of financial markets.
It is clear that financial markets are not only driven by logics and ratios. They are also influenced by beliefs – sometimes quite irrational – and emotions (fear and greed for instance).
The basic questions that our conference will answer to are:
- How to recognize psychological mass failures and avoid their traps?
- How can people take advantage of them and even build successful investment strategies on them?
- How do institutional investors incorporate these psychological phenomena into their investment, consulting, and marketing strategies?
- How can anybody cope with one’s psychology to become a successful investor ?
The set of speakers for this conference is impressive: psychologists specialized in the field of financial markets, both from academia and the private sector, some have specialized on the individual level, others have specialized in behaviour.
We will also have institutional investors as well as experts in the marketing activities of big investing firms that are known to take advantage of psychological failures.
Finally, experts in investor protection will also allow the delegates to understand their skills.
A really exciting trip into behavioural finance in order to enhance your portfolio.
09:00 Chairman's welcome & opening remarks
09:20 Psychological traps in bull markets:the risk for your capital
- Little tale of investor's behaviour during the millennium bull market and the following crash
- Dangerous psychological traps
- The result: wrong (and involuntary !) markettiming
- Major risk for your capital: crashes in combination with wrong market-timing
- Can you expect help from institutional investors ?
- The solution for you: be a true! long-term stock market investor and avoid the crashes
- Ways of how you can recognise a possible crash environment
Dr Dr André Tomfort (Germany)
Professor for Finance & Economics, Berlin School of Economics
10:20 Public vs. private information and speculative dynamics
- Speculative attacks and transparency issues
- More information is not always better
- Common knowledge and over-reaction to public announcements: a model
- Empirical and experimental evidence of the role of public information
Mrs Camille Cornand (France)
Research Fellow; BETA - CNRS
11:20 Coffee
11:45 Irrational Financial Markets
Mr Laurent Germain (France)
Professor of Finance and Director of the Research Finance Group; Toulouse Business School Professor; Supaero
12:30 Lunch
14:00 Analysts' recommendations and psycholog of Financial Markets:
- Do Brokerage Analysts; recommendations provide investment value ?
- How investors react to analyst's recommendations ?
- An empirical study: The impact of analysts recommendations provided by German press on share prices
Ms Nadine Galy (France)
Professor of Statistics PHD in Finance in progress; Toulouse Business School
14:45 Behavioural finance applied to fund management
- Human behavioural bias and its incidence on market efficiency
- The non symmetrical brain implies that buy strategies work far better than short ones
- Prices' self correlation make momentum strategies very efficient
- The exemple of Pythagore Investissement's Funds
Mr Christophe Prat (France)
Chief Executive; Pythagore Investissement BP
15:30 Coffee
15:40 Financial decisions in between ratio, intuition and emotions: -
Mastering the emotional roller coaster to become a
successful investor
- Behavioural Finance - and the most common pitfalls in processing information
- The emotional part of a decision making process
- Psychological rules for an effective decision making process
Ms Monika Müllerr (Germany)
Manager; FCM Finance Coaching
16:00 Close of the Conference
