The Behaviour Gap: Dichev’s Dollar-Weighted Reckoning, Frazzini and Lamont’s Dumb Money, and Why the Long-Term Equity Investor Should Watch His Own Cash Flows, Not Just the Fund’s Chart

The Behaviour Gap cover — two returns, one fund: +18% a year for the fund, -11% for its typical investor, with the dollar-weighted gap statistics

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Manish Goel, FCA

Behavioural Finance, Premium

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The Behaviour Gap: Dichev’s Dollar-Weighted Reckoning, Frazzini and Lamont’s Dumb Money, and Why the Long-Term Equity Investor Should Watch His Own Cash Flows, Not Just the Fund’s Chart

More posts

The Box That Was Only a Box: Karl Duncker’s 1945 Candle Problem, the Premium AT&T Paid for an Accounting Label in 1991, and Why the Long-Term Equity Investor Must Ask What Made the Number

Audited, Not Published: How to Read the Cost Audit Trail in an Indian Annual Report

The Latent Group: Mancur Olson’s 1965 Logic of Collective Action, the Swing Producer That Stopped Paying in 1985, the Seven Shares in Ten That Go Unvoted, and Why the Long-Term Equity Investor Must Ask Who Bears the Burden

Two Thousand Birds or Two Hundred Thousand: Desvousges’s 1993 Oil-Pond Survey, Hartzmark and Sussman’s 2019 Globes, and Why the Long-Term Equity Investor Must Price the Quantity, Not the Symbol