You are a financial advisor to a client who just made a lot of money on an
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Question:
You are a financial advisor to a client who just made a lot of money on an IPO recommended to him by a friend. Now your client wants to make dramatic changes to his portfolio, switching from a largely passive investing strategy to a much more active strategy. What bias might your client be suffering from and why ? What arguments would you use to caution him against such a change in strategy?Or what argument would you use to support it? ?
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