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Behavioral Investing

we discover unique behavioral opportunities and deliver innovative investment strategies

Athena Investment Strategies

By taking a behavioral perspective, unique investment opportunities can be revealed.

Global Tactical

Tactical market rotation strategy designed to invest in the right market at the right time.

Market Rotation

Tactical strategy designed to rotate among markets based on investor behavior.

Pure Valuation

Focused behavioral deep-value strategy designed to generate long-term performance.

Stay Informed

The latest resources for advisors incorporating behavioral finance into their practice.


  • The Performance Expectation Gap

    February 2, 2024
    Research shows that US investors expect real annual investment returns of more than double what financial professionals expect. In the short run, this is a recipe for unhappy investors as short-term returns rarely meet expectations. Eventually, this gap leads to even greater misalignment and deep dissatisfaction.
  • Do Markets Predict Recessions?

    November 10, 2023
    ”The Stock Market has forecasted 9 out the last 5 recessions!” Nobel Prize Economist Paul Samuelson quipped in 1982. It turns out that the stock market is an unreliable predictor of recessions, as Samuelson so cleverly put it. A recent update confirms the stock market has a bit better than 50/50 prediction record, reporting that it has now predicted 13 out of the last 7 recessions! Was the recent market decline from January to October of 2022 another false signal?
  • Do Fees Help Identify Good Managers?

    June 24, 2023
    Mutual fund investors tend to focus on fees in order to find active equity managers that can outperform over the long run. While it is true that higher fees lead to lower performance on average, the data indicate you have an above-average chance of selecting an outperforming manager by simply picking from funds that have an annual expense ratio less than 1.5%.