Mimi Fong, CFA, a private wealth manager with an asset management firm, has been asked to make a presentation to her colleagues comparing traditional and behavioral finance. She decides to enliven her presentation with statement from one client. The statement is intended to demonstrate some key aspects of and differences between traditional and behavioral finance.
- Statement (from a client): “I follow a disciplined approach to investing. When a stock has appreciated by 15 percent, I sell it. Also, I sell a stock when its price has declined by 5 percent from my initial purchase price.”
The client is most likely behaving consistently with:
A
prospect theory
B
expected utility theory
C
bounded rationality
请问，prospect theory说的是，人们对待gain和loss的反应不同，对gain会risk-averse；对待loss，会呈现risk-seeking，所以会更容易realized gain，而持有loss的资产。但是本题里，涨15%才卖，下跌5%就卖，明显不符合前景理论呀。相反有点符合expected utility theory，至少需要2倍的gain才能cover一倍的loss，麻烦帮我解答一下，我错在哪里了？
