📈A new research showcase highlights the work of Dr Cameron Peng, of the LSE Department of Finance and Programme Director of Capital Markets Programme in the Financial Markets Group. His research explores how investors’ memories of past experiences shape their expectations about the future and influence their financial decisions.
📊Drawing on survey responses from over 17,000 Chinese retail investors, the research examines how memories of past investment returns affect investors’ beliefs and trading behaviour. The study also has important implications for policymakers, as understanding how investors form their expectations can offer insights into market sentiment, financial risk perception, and the potential causes of market booms and crashes.
🔍The research was conducted jointly with Zhengyang Jiang, Hongqi Liu and Hongjun Yan.
Read more about the research:
lse.ac.uk/finance/news/resea…
#LSEResearch #BehaviouralFinance #CapitalMarkets #FinancialMarketsGroup #FMG #LSE
📈 The Madness of Markets: why smart investors make crazy decisions – and how to exploit them
Why do investors chase AI stocks that bleed losses? Why do they ignore glaring opportunities hiding in plain sight? Why does the stock market fall after a football defeat, or rise on a sunny day?
Join us for this talk, based on a brand-new book, in which Professor Alex Edmans reveals how mood, emotion and social contagion lead even seasoned professionals to make irrational decisions.
📕Professor @aedmans will be available for a book signing after the talk. There will also be an opportunity to purchase a copy of the book at the event and have it signed.🖋️
🗓 Monday 26 October 2026 ⏰18:30–19:30 GMT
📍 Old Theatre, The London School of Economics and Political Science (LSE)
🗣️Speaker: Alex Edmans (London Business School)
🗣️Chair: @peng_cameron (LSE Department of Finance & @FMG_LSE)
👉Register here: fmg.ac.uk/events/madness-mar…
#Investment #BehaviouralFinance #SmartInvesting #FinancialMarketsGroup #FMG #LSE
Cameron Peng retweeted
People underreact when inferring states, yet overreact when forecasting from the same signals. Fan, Liang & Peng show the question type triggers different heuristics—similarity between available and elicited statistics determines which shortcut dominates.
econometricsociety.org/publi…
Cameron Peng retweeted
Investor memory and biased beliefs: Evidence from the field
@ProfJiang, Hongqi Liu @CUHKofficial, @peng_cameron, Hongjun Yan @DePaulU
ow.ly/lmRB50WLSqq
Cameron Peng retweeted
Recently accepted by #QJE, “Investor Memory and Biased Beliefs: Evidence from the Field,” by Jiang (@ProfJiang), Liu, Peng (@peng_cameron), and Yan: doi.org/10.1093/qje/qjaf035
Cameron Peng retweeted
Recalled experiences, influenced by present cues, explain investors' return expectations and dominate actual experiences in their explanatory power, from @ProfJiang, Hongqi Liu, @peng_cameron, and Hongjun Yan nber.org/papers/w33226
Cameron Peng retweeted
Incredibly proud of our alumni James A. Robinson (BSc Economics 1982) and Daron Acemoglu (PhD Economics 1992).
Congratulations to all three newly awarded Nobelists! 👏
#NobelPrize2024
BREAKING NEWS
The Royal Swedish Academy of Sciences has decided to award the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Daron Acemoglu, Simon Johnson and James A. Robinson “for studies of how institutions are formed and affect prosperity.”
#NobelPrize
Please apply!
WE'RE #HIRING: outstanding applicants sought to join LSE as Assistant Professor in Finance.
Deadline 15 November 2024.
jobs.lse.ac.uk/Vacancies/W/1…
Cameron Peng retweeted
I’m thrilled to announce the 2025 WEFIDEV-RFS-CEPR Conference on Finance and Development on March 28th & 29th at LSE. It will be the first of three annual conferences with an RFS dual submission option. Mark your calendars - deadline is Dec 1st! Details: wefidev.com
Cameron Peng retweeted
For all Finance PhD job market candidates: LSE Finance is hiring! Please apply.
jobs.lse.ac.uk/Vacancies/W/1…
Cameron Peng retweeted
📢 Have you heard of the FMG Digest yet?
🎙️FMG Digest is a roundup of our newest and most relevant research, insights, events, and more!
📰 Read the first issue here and sign up to receive future issues and other news: mailchi.mp/mail.lse.ac.uk/fm…
#finance #sustainable #governance
Cameron Peng retweeted
👓 Read this @FMG_LSE DP
📘 "The #Gender #Gap in #Household #Bargaining #Power: A Revealed-Preference Approach"
👥By @LionupRan @UoE_Economics, @peng_cameron @LSEFinance, Weilong Zhang @Cambridge_Uni
fmg.ac.uk/publications/discu…
#fmg #lse #gendernorms #risk #investment #Economics
Cameron Peng retweeted
Brand new MSc in Law and Finance at LSE launching in 2025! Designed to equip you with the skills and knowledge necessary for leading professional roles at the intersection of law and finance. See more: youtu.be/LH_FWa2RYiI?feature…
Cameron Peng retweeted
Congratulations to David Webb @LSEfinance and former director of FMG on receiving the inaugural Denis Gromb Award for Outstanding Citizenship in Financial Economics established by FIRS. Very well deserved. firsociety.org/denis-gromb-a…
Cameron Peng retweeted
Very proud that LSE's David Webb received the Denis Gromb Award from the Financial Intermediation Research Society (FIRS).
The award is for striving to make the profession better via mentorship, leadership, dedication & citizenship - a wonderful recognition from the community 🎓
Cameron Peng retweeted
#Dimitri #Vayanos and co-authors Hao Jiang, Lu Zheng won @SFI_CH Outstanding Paper Award 2024 for their paper Passive Investing and the Rise of Mega-Firms that explores the profound effects of passive investing on prices and the economy. Congratulations! shorturl.at/nS8He
Cameron Peng retweeted
A model of the law of small numbers reconciles the disposition effect with return extrapolation and makes new predictions about investor behavior, confirmed empirically, from @lawrence_j_jin and @peng_cameron nber.org/papers/w32519
Cameron Peng retweeted
Fostering a dynamic exchange of diverse perspectives, our guest researchers program makes IZA a vibrant center for scholarly collaboration.
In April we’re excited to welcome @peng_cameron, @ashleyywong, @hhsievertsen & very happy to have @miriamwuest staying with us for 4 months!
Cameron Peng retweeted
I was so lucky to be able to have Danny Kahneman as a best friend and collaborator for decades. He usually ended our conversations with "to be continued..." but I now have to simulate his part which is impossible. My favorite image of us "working".
Cameron Peng retweeted
8th SAFE Household Finance Workshop with @marinaniessner as a keynote speaker- 3 days to submit:
safe-frankfurt.de/news-media…
Thanks to the great program committee @TBerg_Finance @MariekeJBos @KimFeCramer @AndrejGill @KatrinGoedker @z_iliewa @ArnaOlafsson @peng_cameron @JoWohlfart .





























