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The Journal of Wealth Management

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Primary Article

A New Paradigm for Practical Application of Behavioral Finance

Creating Investment Programs Based on Personality Type and Gender to Produce Better Investment Outcomes

Michael M. Pompian and John M. Longo
The Journal of Wealth Management Fall 2004, 7 (2) 9-15; DOI: https://doi.org/10.3905/jwm.2004.434561
Michael M. Pompian
A wealth management advisor at a global financial services firm and is based in northern New Jersey. mpompian@investorpsych.com
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  • For correspondence: mpompian@investorpsych.com
John M. Longo
A lecturer in the Department of Finance and Economics at Rutgers Business School and a senior vice president, Investment Strategy at The MDE Group in Parsippany, NJ. drfinance@comcast.net
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Abstract

The authors believe that the next phase in the practical application of behavioral finance is to correlate established investor biases with the psychographic and gender profiles of specific investors. They ask, “Are certain personality types or genders susceptible to biases identified in the behavioral finance literature? If so, can this information be helpful to investors and advisors?” Their study examines the responses of 100 investors given a detailed Myers-Briggs Type Indicator® personality test and a questionnaire designed to reveal investor biases. They find that personality types and genders are differentially susceptible to numerous investor biases; accordingly, they introduce a new paradigm of practical application of behavioral finance that leverages their findings.

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The Journal of Wealth Management
Vol. 7, Issue 2
Fall 2004
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A New Paradigm for Practical Application of Behavioral Finance
Michael M. Pompian, John M. Longo
The Journal of Wealth Management Jul 2004, 7 (2) 9-15; DOI: 10.3905/jwm.2004.434561

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A New Paradigm for Practical Application of Behavioral Finance
Michael M. Pompian, John M. Longo
The Journal of Wealth Management Jul 2004, 7 (2) 9-15; DOI: 10.3905/jwm.2004.434561
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