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What is Behavioral Portfolio Theory Overview about?

Behavioral portfolio theory (BPT) provides an alternative to the assumption that investors aim to maximize portfolio value. BPT suggests investors have varied goals and create portfolios to meet multiple objectives, unlike models like CAPM and MPT. A BPT portfolio resembles a pyramid with distinct layers, each addressing a different goal - the base layer aims to prevent financial disaster while the upper layer attempts to maximize returns. BPT is a descriptive theory based on prospect theory and Roy

Author

Gopinath Govindaraj

Language

EN