Five Good Questions Podcast

Victor Ricciardi is an Assistant Professor of Financial Management at Goucher College.  Professor Ricciardi is a leading expert on the academic literature and emerging research issues in behavioral finance.  He is the editor of several eJournals distributed by the Social Science Research Network (SSRN) at www.ssrn.com, including behavioral finance, financial history, behavioral economics, and behavioral accounting. 1.  What’s the bias with the biggest impact that’s the least understood or noticed? 2.  Wisdom of the crowd usually exists only when there’s a diverse population.  Given the typical investor is pretty homogenous (white, affluent), should we expect the wisdom of the crowd to not apply to the stock market?  What about changing demographics with whites becoming a minority and women now earning more bachelor’s degrees than men? 3.  Financial literacy scores in the US are pretty dismal, which to me really calls into question the validity of the Efficient Market Hypothesis.  How can we improve financial