w88 casino News Network (Reporter’s greetings)4month7日Night7Point, the first lecture of the Financial Culture Festival - "Investment and Overconfidence" was held in the Chengxin third-floor conference hall. The speaker is Dr. Liu Jin, deputy dean of the Cheung Kong Graduate w88 casino of Business and tenured professor at the University of California, Los Angeles. Dean Ding Zhijie of the w88 casino of Finance, Vice Dean Wu Weixing, and Deputy Secretary of the Party Branch Teng Yun attended the lecture.
The lecture was packed with seats
Ding Zhijie, Dean of the w88 casino of Finance
Vice Dean of the w88 casino of Finance Wu Weixing
Teng Yun, Deputy Secretary of the Party Branch of the w88 casino of Finance
After the host’s brief and humorous introduction, the lecture officially began. First, Liu Jin briefly introduced the financial theory under the assumption of rationality, and clearly proposed the challenges to the theoretical assumptions in today's real market. Immediately afterwards, he summarized the manifestations of overconfidence: "The first is absolute optimism, that is, one's evaluation of oneself exceeds reality; the second is relative optimism, that is, blindly believing that oneself is better than others; the third is stubbornness, that is, overconfidence in one's own information or judgment." He cited examples such as "How is your driving skills?" "Why is it difficult to teach students?" and other examples to demonstrate, showing that overconfidence is widespread now. After enumerating the phenomena, Liu Jin elaborated on the manifestations of arrogance in investment, which are excessive trading in the capital market, fanatical mergers and acquisitions, and incomplete reflection of effective information in investment. He further analyzed the negative impact of arrogance on investment and analyzed China1993To2008Analysis of detailed data such as the stock market and Buffett's investment records has led to the conclusion that most overconfident and blind investors do not achieve substantial returns in the end.
Liu Jin wonderfully talks about investment and overconfidence
Liu Jin concluded: "The key to investment is not whether a person is smart or not, but whether he can clearly understand himself and make the right choice." He vividly compared the capital market to the African savannah. Investors of different levels are lions, antelopes and jackals. They all have different positions. If most "antelopes" think they are lions and compete with lions, the final result will be eaten by lions. At the same time, he also clearly pointed out at the end that it is very difficult for every investor to be completely rational and clearly understand himself, and he still needs to continue to work hard.
Students present enthusiastically asked questions
After listening to Liu Jin’s wonderful lecture, the students present enthusiastically asked questions. Liu Jin gave detailed answers to questions such as "How to avoid the phenomenon of overconfidence?" and "Is it a good way to introduce psychology into economic analysis?"
Ding Zhijie, Dean of the w88 casino of Finance, presented a gift on behalf of w88 casino
After the questions, Wu Weixing, Vice President of the Academy of Finance, gave a brief speech. Ding Zhijie, Dean of the w88 casino of Finance, presented a beautiful gift to Liu Jin on behalf of w88 casino. This lecture came to a successful conclusion.
All staff at the lecture took a group photo
