David Dreman

History of Financial Advice Collection. David Dreman was the manager of the Kemper-Dreman High Return Fund and his Contrarian Investment Strategy, that counselled its readers to move against the market and to buy good companies when they are temporarily out of favour, has now gone into multiple editions. Dreman’s psychological reading of investors, as overreacting to bad market news in moments of crisis and panic, has been bolstered by the recent developments in behavioural economics and this is one of the first books of popular financial investment advice that draws seriously on this academic field. As he would suggest in the introduction to the 2011 edition, “appreciating the fundamental flaws in the investment strategies based on EMH (Efficient Market Hypothesis) will demand that we take a close look at one of the major sources of investment errors—the person you see in the mirror every morning.”… (mer)