Applied Portfolio Management - Class 5 - Behavioral Finance

All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceTodays Class is an introduction to Behavioral Finance.Books MentionedThinking Fast & Slow by Daniel Kahneman https://amzn.to/2UFfz2sMarket Sense & Nonsense by Jack Schwager https://amzn.to/3bwKKDRVictor Haghani Coin Flipping Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2856963Ewan Kirk Paper: https://www.cantabcapital.com/we-think/you-probably-can-t-lose?m=trueBuy Patricks Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices

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Try out Blinkist for 7 days for FREE plus 25% off a premium membership! https://www.blinkist.com/patrickboyle Thank you Blinkist for sponsoring today's video!Aside from losing over 1.13 million people, the United States is thought to have lost billions of dollars in pandemic relief fund fraud, according to the most recent Associated Press analysis, published this week.The analysis discovered that fraudsters took more than US$280 billion in relief cash, while another $123 billion was lost or misspent.“Combined, the loss represents 10 percent of the $4.2 trillion the U.S. government has so far disbursed in aid,” according to the report.According to the analysis, this was the worst heist in U.S. history, with criminals stealing billions of dollars in government money intended to stabilize an economy in free fall.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices

👉 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Jeffrey Epstein was a college dropout with no formal financial training who amassed a fortune worth hundreds of millions of dollars and mingled with presidents and billionaires. Drawing on court records and media investigations we trace where Epstein's money came from and what happened to it? From his first job as a high school teacher to involvement in a Ponzi scheme, secretive offshore firms, and powerful clients like Les Wexner and Leon Black. As conspiracy theories swirl and official narratives shift, one question remains unanswered: where did Epstein's money actually come from?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ [email protected] Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices

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These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices

The Private Capital Industry Soars Beyond $7 TrillionOver the past twenty years, the number of companies listed on the US stock market has almost halved. The world’s largest, most liquid public equity market would appear to have lost its shine.Institutional investors have been piling into private markets instead, in particular venture capital, private equity and private debt. The Financial Times reported last week that the size of the private capital industry has now reached $7.4tn, fifteen times the size it was in 2000. The industry is expected to reach $13tn in the next four years. On top of this, a boom in share buybacks, where companies purchase their own stock as an alternative to paying dividends, has further reduced the number of shares outstanding from the remaining public companies. Historically low interest rates have compounded the trend, tempting companies to raise cheap debt rather than to sell equity.So what has happened to all of the stocks and what should investors do?Steven Davidoff Solomon Paper https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2400488&rec=1&srcabs=2310441&alg=1&pos=6Private Equity: The Emperor Has No Clothes By Nicolas Rabener: https://blogs.cfainstitute.org/investor/2018/12/03/private-equity-the-emperor-has-no-clothes/Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices

🚀 Streamline your entire business with Odoo! The all-in-one, easy-to-use ERP platform that centralizes, automates, and scales your operations from sales and accounting to inventory and eCommerce 📈⚙️. Try out Odoo for 15 days (no credit card required) 👉🏻 https://www.odoo.com/r/N0SLast week, shortly after Anthropic launched its most powerful AI models, the U.S. government imposed export controls restricting foreign nationals from accessing them - and rather than try to verify the citizenship of every user on the planet within ninety minutes, Anthropic shut the models down for everyone. In this video we look at what actually happened: the Commerce Department's "is informed" letter, the deemed-export rules that locked Anthropic's own engineers out of their work, the claim that the "national security threat" was essentially an AI fixing software bugs, and the awkward detail that the partner who reported it was Amazon - Anthropic's largest backer and a direct competitor. We also dig into why all of this matters for Anthropic's near-trillion-dollar valuation, the winner-takes-all assumptions behind frontier AI, the rise of cheap open-source Chinese models, and whether there's really any such thing as a monopoly on math.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ [email protected] Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices

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