Mr. Blum: J.P. Morgan Investment Management is an asset management organization that focuses on a wide variety of products globally, so pretty much you name an asset class and we're involved there. I think we are well over $1 trillion in assets that we manage here. I believe that makes us one of the largest asset managers in the world. I work in the US Equity Group here, and I am the CIO of the US behavioral finance effort. The US behavioral finance business here is approximately $16.5 billion and that includes large, mid and small cap product of various styles.
TWST: Behavioral finance is something that a lot of money management firms don't
apply to their investment process. How much is incorporated into your overall
investment thesis?
Mr. Dimig: As a practitioner of behavioral finance, we are looking to achieve
the same goals as a fundamental manager, i.e., generate alpha relative to
whatever benchmark we're investing against. That said, the application of
behavioral finance is just a different means to get to that end. It shouldn't be
viewed as a separate subset of equity or a niche asset class.
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