Nature of Expertise

The Nature of Expertise

"...an investor choosing a portfolio is processing information: he sorts the useful from the irrelevant, and decides which parts of the total information flow are most important. The investment process is a problem in decision-making under uncertainty. Our model, written as a computer program, simulates the proce- dures used in choosing investment policies for particular accounts, in evaluating the alternatives presented by the market, and in selecting the required portfolios." - Clarkson , Geoffrey

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