this article is related are the Disciples profiting from the Doctrine?

This article is related are the Disciples profiting from the Doctrine? This arical presents colbywright, prithviraj banerjee,And vaneesha boney. Behavioral finance has received a great deal of attention in academia over the past 15 years or so leafier. Objective is to measure how much acceptance and success behavioral finance is garnering in the practitioner sphere. To do so, we begin by identifying 16 self-proclaimed or media-identified “behavioral mutual funds” that implement a layer of behavioral finance in their investment strategies. The self-proclaimed or media-identified association of these 16 mutual funds with behavioral finance motivates at least three practical questions. First, irrespective of their performance, are they successfully attracting investment dollars—are any investors buying into the notion of investing based on behavioral finance? Second, the key question, are they actually earning abnormal returns? Third, if they are earning abnormal returns, how do their investment strategies differ from matched, non-behavioral firms?

This article finding is the flow of funds into these behavioral funds is higher than the flow of funds into index and matched actively managed, non-behavioral funds, suggesting that behavioral mutual funds are effectively attracting capital.  They generally beat S&P 500 Index funds on a raw, net-return basis, which is not an easy task as shown in numerous previous studies. Behavioral finance has gained substantial attention in academia and seems to be gaining greater acceptance among practitioners.