Ethics- Re-read The Great Gatsby by F. Scott Fitzgerald from an ethics perspective (not from a literature one)
- Really different perspective thinking about ethics and also doing re-reading it 10 years after my first read
- Truth vs. dishonesty
- Nobility vs. status
- Old money vs. nouveau riche
- Cultural transplants, boredom
- Moral values in '20s
- importance of novels and short stories as conveyors of ethical lessons and questions (and thermometers of social values)
- There is one moral truth, but all people have a different view of it and only see a portion of it.
Behavioral finance- Average SAT score of college attended by fund manager positively related to performance
- Manager age negatively related to performance
- # of items a stock has been in the news related to weight in mutual fund portfolios
- Media coverage affects stock picking
- Mutual funds not sophisticated
- Media just grabs their attention and they go for it (not very careful)
- No relationship between brand visibility and future returns
- Individual's stock market participation influenced by social interaction and level of sociability
- Higher wealth, higher education level, race (non-Hispanic) have higher investing participation rate
Doing deals- Major changes and risks in newspaper and broadcasting business in last 10 years
- Secular change (growth of internet impacting traditional media businesses)
- Regulatory risks
- Tender offers in public companies
- Tax liability issues
- Public letters to management
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