Tuesday, April 25, 2017 from 12:30 PM to 2:00 PM HKT
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HKUST Business School Central 
Rm 1501- 02, 15/F Hong Kong Club Building
3A Chater Road
Hong Kong

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Miranda Wong 
HKUST-NYU Stern MSGF Program Office 
+852 23585029 

Do Superstitious Traders Lose Money?

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


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.

Speaker Bio 

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 FinanceJournal of Financial EconomicsThe Review of Financial StudiesJournal 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. 

*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.

 Seminar Schedule

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