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Behavioral Insights From a Nobel Laureate: Dr. Richard Thaler, 2017 Nobel Prize winner for Economic Science, and Dr. Raife Giovinazzo, CFA, Partner, Lead Portfolio Manager at Fuller & Thaler Asset Management
Nov 17, 2020 1:00 pm – 2:30 pm
Behavioral finance combines psychology and finance – contending that
preconceptions and cognitive errors lead investors to misinterpret events and
overlook opportunities. People use shortcuts when making decisions that often
work, but sometimes cause mistakes. This presentation will be a conversation
between Dr. Richard Thaler, the 2017 Nobel Laureate in Economics, and his
former student now colleagues at Fuller & Thaler Asset Management, Dr. Raife
Giovinazzo. Dr. Giovinazzo & Dr. Thaler will discuss some famous experiments
about cognitive mistakes, how these mistakes are likely to play out in investing
Richard Thaler, PhD
Dr. Thaler was awarded the 2017 Nobel Prize® for Economic Sciences and is a Founder and Principal at Fuller & Thaler Asset Management. He is actively involved in setting strategic direction and enhancing the research and investment processes at Fuller & Thaler. He has been affiliated with the firm since 1998 and has been in the financial industry since 1978. Dr. Thaler is the Charles R Walgreen Distinguished Service Professor of Behavioral Science, Economics and Finance at the Booth School of Business of the University of Chicago. He has also taught at Cornell and MIT and is considered one of the leading scholars in the field of behavioral finance and economics. Dr. Thaler’s published books on behavioral finance include The Winner’s Curse: Paradoxes and Anomalies of Economic Life, Quasi Rational Economics, Nudge: Improving Decisions About Health, Wealth, and Happiness, and Misbehaving: The Making of Behavioral Economics . His awards include the Nicholas Moldovsky Award from the CFA Institute. Dr. Thaler received a BA from Case Western University, and an MA and PhD degrees in Finance from the University of Rochester. He is an owner of the firm and a member of the Board of Directors.
Raife Giovinazzo, PhD, CFA
Partner, Lead Portfolio Manager
Dr. Giovinazzo is the lead portfolio manager of the Fuller & Thaler Behavioral Small-Cap Equity Fund and has ultimate decision-making authority for all investment aspects of the Small-Cap Equity Fund. He is also responsible for research using market insights and behavioral finance to enhance the investment processes. Dr. Giovinazzo has been in the financial industry since 1995. Prior to joining Fuller & Thaler, Dr. Giovinazzo was a researcher and co-portfolio manager with Blackrock’s Scientific Active Equity group (formerly Barclays Global Investors). His previous experience also includes investment and consulting work with Wellington Management, Marsh & McLennan, and Mercer Management Consulting (now Oliver Wyman). Dr. Giovinazzo received his BA in sociology from Princeton, and his MBA in analytic finance, economics, and statistics, as well as a PhD in finance from the Booth School of Business at the University of Chicago. He wrote his undergraduate thesis for Dr. Kahneman (winner of the 2002 Nobel Prize in Economics) while at Princeton, and Dr. Thaler (“Father of Behavioral Finance“ and winner of the 2017 Nobel Prize in Economics) was his dissertation co-chair at the University of Chicago. Dr. Giovinazzo holds the Chartered Financial Analyst designation and is a member of the CFA Society of San Francisco. He is an owner of the firm and a member of the Board of Directors.