Uses and Limitations of Behavioral Finance

[nick123]

Hi
In the Schweser text, practice test 1 on page 205 (BF and Investment Processes), one is required to answer the uses and limitations of classifying investors into the behavioral types. Where can I find the answer of these from the scweser text book?
Thank you in advance.

 

[sooraj]

Dont know where you can get the answer.
But as far I remember, the answer is that -
1. As people mature or age, their behaviour types change over a period of time.
2. People could exhibit multiple behviour types at the same time.

 

[ink]

that’s the first learning outcome of the chapter and in all respects is un-missable.