A Written Plan Can Help Your Portfolio — online.wsj.com — Readability

Monday, June 4th, 2012 at 3:33 pm

A Written Plan Can Help Your Portfolio — online.wsj.com — Readability:

Behavioral-finance expert Shlomo Benartzi thinks advisers should go one step further and ask their clients to sign “Ulysses contracts,” as he calls them: promises not to act hastily in volatile markets. Just as Ulysses had his crew tie him down so he could resist the Sirens’ deadly song, Prof. Benartzi, co-chair of the Behavioral Decision-Making Group at UCLA’s Anderson School of Management, would have investors promise not to overreact to sharp market moves in either direction.