Investments, tenth edition

 11.5  Mutual Fund and Analyst Performance  375

Stock Market Analysts / Mutual Fund Managers / So, Are 

Markets Efficient?

End of Chapter Material  380–387

CHAPTER 12

Behavioral Finance and Technical 

Analysis 388

 12.1  The Behavioral Critique  389

Information Processing

Forecasting Errors / Overconfidence / Conservatism / 

Sample Size Neglect and Representativeness

Behavioral Biases

Framing / Mental Accounting / Regret Avoidance

Affect

Prospect Theory

Limits to Arbitrage

Fundamental Risk / Implementation Costs / Model 

Risk

Limits to Arbitrage and the Law of One Price

“Siamese Twin” Companies / Equity Carve-Outs / 

Closed-End Funds

Bubbles and Behavioral Economics / Evaluating the 

Behavioral Critique