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Do Superstitious Traders Lose Money? (2017.04.25 @ Hong Kong)

Apr 25, 2017 (Tue) 1230pm - 2pm

The Hong Kong Club Building, Rm 1501- 02, 15/F, 3A Chater Rd, Central, Hong Kong

Organized by the HKUST-NYU Stern MS in Global Finance Program

About the Seminar

Standard models of financial markets assume people behave rationally. Behavioral finance builds on this foundation by taking insights from cognitive psychology (e.g. overconfidence) to explain puzzling observations in asset prices that cannot be explained by reason. In this talk, Professor Utpal Bhattacharya from HKUST will give three examples from his research on behavioral finance: superstitious traders in Taiwan, haunted houses in Hong Kong, and left-digit fixated traders in the United States.

About the Speaker

Professor Utpal Bhattacharya is Professor of Finance at HKUST, and the Executive Editor of the journal Financial Management. He received his Bachelor of Technology at IIT, Kanpur, India; his MBA from IIM Ahmedabad, India; and his Ph.D. from Columbia University, USA. Professor Bhattacharya previously taught at Indiana, Iowa, Chicago, MIT and Duke. He has taught summers in prestigious schools in Argentina, Brazil, China, France, Germany, Holland, India, Indonesia, Ireland, Italy, Japan, Lithuania, Mexico, New Zealand, Portugal, Singapore, Slovenia, South Korea, Russia, Taiwan and Turkey.

Prof. Bhattacharya's research is about the dark side of financial markets. He believes, with apologies to Thomas Jefferson, that "the price of capitalism is eternal vigilance." His publications have appeared in top-tier finance journals like the Journal of Finance, Journal of Financial Economics, The Review of Financial Studies, Journal of Financial and Quantitative Analysis and the Journal of Business, top-tier accounting journals like The Accounting Review, and top-tier economics journals like the Journal of Economic Theory, Journal of Law and Economics and the Journal of Monetary Economics. His research has been featured in full-length stories more than a hundred times in various media across the world, including five times in the Economist. He wrote a satire about the legendary fraudster Madoff in the New York Times. He has been invited to present his research in more than 200 institutions in 31 countries in 5 continents.

On May 16, 2012, the Securities and Exchange Commission of the U.S. invited him to present the findings of his Journal of Finance paper that documents cross-subsidies in mutual fund families. He is now an official whistleblower.

About the Seminar

Date: Apr 25, 2017 (Tue)

Venue: HKUST Business School Central, Rm 1501- 02, 15/F Hong Kong Club Building, 3A Chater Road, Central, Hong Kong

12:30 Registration and Light Lunch 13:00 Welcome and Introduction 13:05 Presentation 13:35 Q & A 14:00 End

*The seminar is free of charge and light lunch will be provided.

*Participants to this seminar are entitled to one hour of continuous professional training (CPT) requirement stipulated by the Securities and Futures Commission in Hong Kong.

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