Werner De Bondt
| Werner De Bondt | |
|---|---|
| Born |
1954 (age 61–62) Belgium |
| Institution |
DePaul University 2002– University of Wisconsin–Madison 1984-2002 |
| Field | Behavioral finance, behavioral economics, investment management, investor psychology, entrepreneurial beliefs and motivation, financial planning and investor advice |
| Alma mater | Cornell University Ph.D. 1985 |
| Influences | David Dreman, Jacques Ellul, Benjamin Graham, Karel (Galileo) Imbrechts, Daniel Kahneman, Wim Moesen, Paul Slovic, Richard Thaler, Amos Tversky, Lambert Vanthienen. |
Werner F.M. De Bondt is one of the founders in the field of behavioral finance. He is also the founding director of Richard H. Driehaus Center for Behavioral Finance at DePaul University in Chicago. Previously, he was the Frank Graner Professor of Investment Management at the University of Wisconsin-Madison.
He is a native of Belgium and an alumnus of Hagelstein (St.-Katelijne-Waver). He received a degree as Handelsingenieur from Universitaire Faculteiten Sint-Ignatius Antwerpen (Antwerp, Belgium). He subsequently earned an M.B.A. from the Catholic University of Louvain (Louvain, Belgium), a Master’s degree in Public Administration from Cornell University (Ithaca, New York) and a Ph.D. in Business Administration from Cornell University.
Alongside Daniel Kahneman, Amos Tversky, Hersh Shefrin, Meir Statman, Robert Shiller and Richard Thaler (with whom he co-wrote the seminal paper “Does the Stock Market Overreact? ” in 1985)[1][2] De Bondt helped define the field of behavioral (or psychological) finance long before it became popular. He has investigated key research questions such as the intuitive tendency of naïve investors to extrapolate past trends in stock prices and corporate earnings, market overreaction, bubbles, the excessive self-confidence of traders, and their herding instinct. His work has been published in numerous academic journals (including the Journal of Finance, the Financial Analysts Journal, the European Economic Review, and the American Economic Review) and De Bondt has been cited in many European and U.S. news publications, including the Chicago Tribune,[3][4][5] Finanz und Wirtschaft,[6][7] the Frankfurter Allgemeine Zeitung,[8] the Neue Zürcher Zeitung,[9][10] the Milwaukee Journal Sentinel,[11][12] De Standaard,[13] Trends,[14][15] the Wall Street Journal and others.[16][17][18][19][20][21][22][23][24]
He has also served on the editorial boards of several academic journals, including the Journal of Behavioral Finance, the Financial Analysts Journal, the British Accounting Review, the Journal of Empirical Finance, and Behavioral Science & Policy.
Published books / monographs
- Financial Accounting and Investment Management, edited book in two volumes, Edward Elgar Publishing, 2009
- The Psychology of World Equity Markets, edited book in two volumes, Edward Elgar Publishing, 2005
- Earnings Forecasts and Share Price Reversals, AIMR, Charlottesville, Virginia, 1992
Selected published articles
- "After the Crisis: How to Restore Trust in Business and Finance," Spanish Journal of Finance and Accounting (Revista Española de Financiación y Contabilidad), 2013
- "The Crisis of 2008 and Financial Reform," Qualitative Research in Financial Markets, 2010
- "Style Investing Within the S&P-500 Index," (with H.-L. Chen), Journal of Empirical Finance, 2004
- "Portrait Psychologique de l’Investisseur Individuel en Europe," (with P. Zurstrassen and A. Arzeni), Revue d'Economie Financiėre, 2002
- "A Portrait of the Individual Investor," European Economic Review, 1998
- "R&D Budgets and Corporate Earnings Targets" (with M. Bange), Journal of Corporate Finance, 1998
- "Betting on Trends: Intuitive Forecasts of Financial Risk and Return," International Journal of Forecasting, 1993
- "Do Security Analysts Overreact?" (with R. Thaler),The American Economic Review, 1990
- "Does the Stock Market Overreact?" (with R. Thaler),The Journal of Finance, 1985
References
- ↑ Werner De Bondt, and Richard Thaler, “Does the stock market overreact?,” The Journal of Finance 40, no. 3 (2012): 793-805.According to Google Scholar, this paper has been cited 6428 times times.
- ↑ Werner De Bondt, and Richard Thaler, “Do security analysts overreact?,” The American Economic Review (1990): 52-57. According to Google Scholar, this paper has been cited 784 times. >Google Scholar
- ↑ Bill Barnhart, “Fresh, clean bubble theories,” Chicago Tribune, June 30, 2002. http://articles.chicagotribune.com/2002-06-30/business/0206300085_1_bubble-tech-stocks-stock-market
- ↑ Andrew Leckey, “Pop goes the bubble,” Chicago Tribune, April 17, 2005. http://www.chicagotribune.com/sns-yourmoney-0417bubble,0,6475353.story
- ↑ John Lux, “Pop goes a market? There is only one sure way to avoid investment bubbles: Show your heels,” Chicago Tribune, April 17, 2005.
- ↑ Philippe Béguelin and Peter Kuster, “Als hätte Gott sie speziell gesegnet,” Finanz und Wirtschaft, February 19, 2005. http://www.fuw.ch/article/als-htte-gott-sie-speziell/
- ↑ Philippe Béguelin and Peter Kuster, “Regulierung ist zur Koodination wichtig,” Finanz und Wirtschaft, December 13, 2008.
- ↑ Hanno Beck, “Spekulative Blasen wird es immer geben,” Frankfurter Allgemeine Zeitung, April 12, 2008.
- ↑ Gerhard Schwarz, “Menschen und Geld --- das liebe ich,” Neue Zürcher Zeitung, July 2, 2005.
- ↑ Volker Hergert, “Dem Trend auf der Spur,” Neue Zürcher Zeitung, June 25, 2008.
- ↑ Kathleen Gallagher, “Buy-and-hold is viable strategy, some say,” Milwaukee Journal Sentinel, March 20, 2004.
- ↑ John Schmid, “October has history of spooking investors. Crashes, swings of 2008 mimicked fall of 1929, 1987,” Milwaukee Journal Sentinel, November 1, 2008.
- ↑ Ruben Mooijman, “De belegger als gevoelsmens,” De Standaard, June 21, 2007. http://www.standaard.be/cnt/jt1dr6ns
- ↑ Ken Van Weyenberg, “Stierenmarkt nog niet voorbij,” Trends, February 7, 2008. http://www.faz.net/aktuell/finanzen/fonds-mehr/im-gespraech-werner-de-bondt-spekulative-blasen-wird-es-immer-geben-1746293.html
- ↑ Ilse De Witte, “We zitten in de grootste zeepbel ooit,” Trends, March 18, 2015. http://trends.knack.be/economie/finance/werner-de-bondt-we-zitten-in-de-grootste-zeepbel-ooit/article-normal-542415.html
- ↑ Susan Trammel, “Are analysts just human, after all?,” CFA Magazine, September-October 2003.
- ↑ Erik Durnez, “Beleg filisofisch, planmatig en emotievrij,” Uw Vermogen, January 2005.
- ↑ Sven Vande Broek, “Stuur uw beleggingsgedrag,” Cash, June 15, 2006.
- ↑ Emmanuel Garessus, “La finance comportementale révèle combien les bourses sont prévisibles,” AGEFI, November 13, 2006. https://www.mataf.net/fr/forum/topic/2069-la-finance-comportementale-revele-combien-les-bourses-sont-previsibles/
- ↑ Jo Napolitano, “Shopping for stocks: Perspectives on P/Es,” Better Investing, February 2007.
- ↑ Claudia Gabriel, “Behavioral Finance hilt Private Bankern,” Schweizer Bank, March 2007. http://www.schweizerbank.ch/de/artikelanzeige/artikelanzeige.asp?pkBerichtNr=144442
- ↑ Wouter Van Driessche, “Casino's zijn veiliger dan beurzen,” De Tijd, October 4, 2008.
- ↑ Oliver Schaerrer, “Les bulles spéculatives s’articulent en quatre temps,” Le Magazine de la Banque Cantonale de Genève, Autumn 2008. https://www.bcge.ch/pdf/dialogue-automne-2008.pdf
- ↑ Piet Depuydt, “Echte leider is morele leider, ook in een bedrijf,” NRC Handelsblad, January 2, 2009.