Terry Odean: Who's on the Other Side of the Trade?

<p>Our guest on the podcast today is Terrance Odean. Dr. Odean is the Rudd Family Foundation Professor of Finance at the Haas School of Business at the University of California, Berkeley. Individual investor trading has been a key area of research throughout his academic career. In 2016, Dr. Odean received the James R. Vertin Award from the CFA Institute for research notable for its relevance and enduring value to investment professionals. He has been an editor and an associate editor of numerous academic finance journals, including <i>The Review of Financial Studies</i>, <i>The Journal of Finance</i>, and <i>The Journal of Behavioral Finance</i>. As an undergraduate student at UC Berkeley, Dr. Odean studied judgment and decision-making with a 2002 Nobel Laureate in Economics, Daniel Kahneman.</p><p><strong>Background</strong></p><p><a href="https://haas.berkeley.edu/faculty/odean-terrance/" target="_blank">Bio</a></p><p><a href="https://academic.oup.com/rfs" target="_blank"><i>The Review of Financial Studies</i></a></p><p><a href="https://onlinelibrary.wiley.com/journal/15406261" target="_blank"><i>The Journal of Finance</i></a></p><p><a href="https://so06.tci-thaijo.org/index.php/IJBS" target="_blank"><i>The Journal of Behavioral Finance</i></a></p><p><strong>Free Trading and Robinhood</strong></p><p>“<a href="https://faculty.haas.berkeley.edu/odean/papers%20current%20versions/online%20rfs.pdf" target="_blank">Online Investors: Do the Slow Die First?</a>” by Brad Barber and Terrance Odean, faculty.haas.berkeley.edu, 2002.</p><p>“<a href="https://www.umass.edu/preferen/You%20Must%20Read%20This/Barber-Odean%202011.pdf" target="_blank">The Behavior of Individual Investors</a>,” by Brad Barber and Terrance Odean, umass.edu, September 2011.</p><p>“<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715077" target="_blank">Attention Induced Trading and Returns: Evidence From Robinhood Users</a>,” by Brad Barber, Xing Huang, Terrance Odean, and Christopher Schwarz, paper.ssrn.com, Oct. 12, 2021.</p><p>“<a hr