The AAII Los Angeles Chapter presents...

"Our Behavioral and Cognitive Biases and How They Impact Our Investment Decisions"

    Discussed by:

    Bob Seawright
    Chief Investment Officer, Madison Avenue Securities

We all like to think that our outlooks and decision-making are rationally based processes, that we examine the evidence and only after careful evaluation come to a reasoned conclusion as to what the evidence suggests or shows. But we don’t. Rather, we spend our time searching for that which we can exploit to support our preconceived commitments, which act as pre-packaged means of interpreting the world. We like to think we’re judges of a sort, carefully weighing the alternatives and possibilities before reaching a just and true verdict. Instead, we’re much more like lawyers, looking for anything, true or not, that we think might help to make our case and looking for ways to suppress that which hurts it. Bob’s presentation will examine the behavioral and cognitive biases that make decision-making so difficult for us and will suggest some ways for fighting these biases in investing and in life generally.

Attend This Meeting and Learn...
Common biases to which we are all susceptible
Examples of our biases “in action”
About the bias blindness: the greatest risk of all

"Diversifying With Negatively Correlated Investment Strategies"

    Discussed by:
    Ryan Deming
    Managing Partner of Monterosso Investments

Ryan will explain why it is better to have negatively correlated investment strategies in your portfolio than it is to have non-correlated investment strategies in your portfolio. Managed futures programs vary in design, but if you have domestic equities exposure, there are managed futures programs designed to be correlated negatively with the S&P 500. If you were to add such a program to your portfolio, it is possible that the result would be better risk-adjusted returns. For more information see


Attend This Meeting and Learn...
How the math behind diversification really works
How to measure risk-adjusted expected returns
How to invest in managed futures through exchange-traded funds (ETFs) in your existing SIPC-insured brokerage account

Saturday, June 15, 2013
8:30 a.m.    Registration/Social
9:00 a.m.-12:00 p.m.    Program
Skirball Center
2701 N. Sepulveda Blvd.
Los Angeles, CA
[ Map This Location ]
In Advance (by 6/10), Everyone, $8/person;
At the Door (space permitting only) Everyone, $10/person
No Refunds

  Special Interest Groups (SIGs)

SIG meetings do NOT require advance registration (some may request an RSVP). Most are free of charge. Contact the group leader if you need additional information to attend.


Members should check the LA chapter website for latest schedules. Click on for details.

Mutual Fund Group
The chapter needs a volunteer to coordinate meetings. Please contact
Howard Staniloff at
Computerized Investors Group
Don Gimpel,
Date/Time: First Saturday of all even-numbered months, 9:00 a.m. to 12:00 p.m.
Location: Culver City Veterans Memorial Complex, 4117 Overland Ave., Culver City

Stock Selection Group
Norm Langhout,, 310/391-6430
Date/Time: Fourth Wednesday of the month, 7:00 p.m. Next meeting Wednesday, June 26, 2013, 7:00 p.m.
Location: Fairview Branch, Santa Monica Library, 2101 Ocean Park Blvd., Santa Monica.

Neighborhood Subgroups

Pasadena Group
Ivan Wong,, 626/446-2486
Date/Time: The third Thursday of the month, 7:00–9:00 p.m. No meeting in August or December.
Location: Pasadena Main Public Library, 285 East Walnut St., one block south of the 210 Freeway and two blocks east of Marengo St.
Speaker: TBD

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