David Dreman
David Dreman is a noted investor, who founded and is the Chairman of Dreman Value Management, an investment company. His father, Joseph Dreman, was a prominent trader on the Winnipeg Commodity Exchange for many years. David Dreman graduated from the University of Manitoba in 1958. After graduating, he worked as director of research for Rauscher Pierce, senior investment officer with Seligman, and senior editor of the Value Line Investment Service. Dreman was awarded a Doctor of Laws Degree from the University of Manitoba in 1999 and is a member of the Board of Trustees of the university. Dreman has published many scholarly articles and he has written four books. Dreman also writes a column for Forbes Magazine. Dreman is on the board of directors of the Institute of Behavioral Finance, publisher of the Journal of Behavioral Finance.
2 Books Written
Contrarian Investment Strategies: The Psychological Edge
by David Dreman
Rating: 3.7 ⭐
• 2 recommendations ❤️
In this major revision of his investment classic, one of the premier investment managers introduces vitally important new findings in psychology that show why most investment strategies are fatally flawed and his contrarian strategies are the best way to beat the market. The need to switch to a new approach for investing has never been more urgent. The Crash of 2007 revealed in dramatic fashion that there are glaring flaws in the theory that underlies all of the prevailing investment strategies—efficient market theory. This theory, and all of the most popular investing strategies, fail to account for major, systematic errors in human judgment that the powerful new research in psychology David Dreman introduces has revealed, such as emotional over-reactions and a host of mental shortcuts in judgment that lead to wild over and under-valuations of stocks, bonds, and commodities and to bubbles and crashes. It also leads to horribly flawed assessments of risk. Dreman shows exactly how the new psychological findings definitively refute those strategies and reveals how his alternative contrarian strategies do a powerful job of accounting for them. He shows readers how by being aware of these new findings, they can become saavy psychological investors, crash-proofing their portfolios and earning market beating long-term returns. He also introduces a new theory of risk and substantially updates his core contrarian strategies with a number of highly effective methods for facing the most pressing challenges in the coming years, such as greatly increased volatility and the prospect of inflation. This is every investor’s essential guide to optimal investing.
Includes an up-to-date analysis of today's investment environment, the collapse of the bond market, the plummeting prices of precious metals, and new material on the contrarian investment strategy