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Synopsis
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Passion in Investor Behavior Research
When pursuing a Master of Applied Science and Ph.D. in Wireless Communication Theory in Canada from 1988 - 1993, I was so fascinated by the capital market's "random" behavior and its similarity to "signal and noise". In order to detect "signal" from "noise" for investors, I studied economics and financial markets at the Canadian Securities Institute from 1992 to 1993. I soon became passionate about investment research and moved to the U.S. in early 1995.
While I was trying to improve statistical modeling for wireless communications from 1993 to 1995 at Bell-Northern Research Laboratories, I discovered a new probability distribution named "Q-Distribution". It is a family of statistical distributions unifying the popular normal and log-normal distributions and many others. The new model excited me for its potential applications in many fields as a goodness-of-fit improvement over the normal distribution (bell-curve). The findings were documented as a working paper titled "Q-Distributions - A Family of Generalized Normal Distributions". This unpublished piece has continuously motivated me to further discover the deeper scientific principles governing the capital market behaviors.
Increasingly I realize that most existing financial market research, including many Nobel Prize-winning works, are very superficial and incredibly flawed (built on unrealistic and over-simplified assumptions). These theories are so misleading to the financial industry's product development and ultimately harmful to investors. The capital securities market is driven by investor psychology and more difficult to quantify than my earlier engineering problems. There are much more on investor and market behaviors to be discovered for us to understand.
Luckily, my work experiences have offered me not only the opportunity to serve investors for their needs but also the possibility to provide investor education through interviewing thousands of investors, observing and understanding their real-life stories. This allows my thinking being expanded, spare time research results being refined, and educational knowledge being enhanced. Most of my research were proprietary in the past, including the fat-tailed and skewed probability distributions for modeling stock prices and asset return statistics (the new Q-Distributions or Black Swan Model), theory of capturing and measuring crowd emotion (the new Investor Emotion Index or Yin-Yang Index), and the uniformed portfolio evaluation method (the new Theme-Based Benchmarks and the Calmar-Yang Ratio), among many others. It is my plan to gradually publish these scientific findings on my free research and education sites to share with all investors.
Earlier Professional Experiences
Over the last 30+ years, many career opportunities came to me so that I had gained experience in international marketing, investment banking and research, and technology management. I served as the founding President of American China International Business Association (ACIBA) (1997 - 2003), and have been invited as a guest speaker at leading Asian TV stations including LA Channel 18; ETTV America; Phoenix TV North America; and China Business Network. I also served as a Director at Shanghai International Industry Friendship Association (1995 - 2000).
After 16 years of offering wealth management services, I retired from Charles Schwab as Vice President - Senior Financial Consultant. Prior to Schwab, I was the Managing Director of Global Investment Banking at American Eastern Securities (2001 - 2003), a Member of NASD and SIPC, and was appointed as the portfolio manager of Luminus Pacific Rim Fund, a member of Luminus Hedge Funds, one of the top funds ranked by Nelson World's Best Money Managers in 2001.
During my earlier life, I was fortunately offered various opportunities to work for several publicly traded companies, including Vice President - acting branch manager at Asia Pacific Services of Charles Schwab (NASDAQ: SCHW) in 2006, and previous experiences as a Software Engineer and Assistant General Manager (startup of Wang China Limited in Shanghai) at Wang Laboratories (NYSE: WANG) (1984 -1988), Business Planner at Nortel Networks (NYSE: NT) (1993 - 1995), Product Line Manager (GM) at Hughes Electronics (NYSE: GMH) (1995 - 1997), Director at Watkins-Johnson (NYSE: WJ) (1997 - 1998), Vice President of ZTE Corporation to lead the startup of ZTE USA (1998), President and CEO of Datang Xinwei Telecom Technology (creator of TD-SCDMA technology) (1998 - 2000), Chief Executive Officer at Hartcourt Companies (Frankfurt/OTC: HRCT) (2000 - 2001). I had the honor to become the featured CEO selected by the China Electronic Enterprise magazine (ISSN 1007-2098) published in December 1999 for leading product advancement towards international standard and 3G wireless evolution. As a non-profit initiative sponsoring scientific research projects and investor education, I also founded the Institute of Systematic Investment Research (ISIR) (1996 - 2003, with new free research and education sites relaunched in 2019).
Other Research and Education Background
By working on early wireless technology development, I came up with the concept of Mobile Payment System (Patent Publication Number: US20020073027, published on June 13, 2002). This very first patent application in the field covers a mobile payment method designed to facilitate payment and transaction in addition to credit card and debit card. Many years later, mobile payment technology has evolved and mobile pay applications have been increasingly adopted all over the world in many different ways. My other early research in wireless communications includes example 1, example 2, and example 3, and I had a strong research interest in early Artificial Intelligence technology, such as the Hybrid Architectures for Intelligent Systems and Building Expert Systems by a Modified Perceptron Network with Rule-Transfer Algorithm.
I received a Master of Applied Science and Ph.D. degrees in electrical & computer engineering from the University of Victoria of Canada, and a BSEE degree from the University of Science and Technology of China. I was honored to be a recipient of national NSERC scholarships from 1990 - 1992, and awarded the prestigious 1994 academic Gold Medal of Governor General of Canada, and was a 5-time Charles Schwab Chairman's Club winner. I am a CERTIFIED FINANCIAL PLANNER™.
When pursuing a Master of Applied Science and Ph.D. in Wireless Communication Theory in Canada from 1988 - 1993, I was so fascinated by the capital market's "random" behavior and its similarity to "signal and noise". In order to detect "signal" from "noise" for investors, I studied economics and financial markets at the Canadian Securities Institute from 1992 to 1993. I soon became passionate about investment research and moved to the U.S. in early 1995.
While I was trying to improve statistical modeling for wireless communications from 1993 to 1995 at Bell-Northern Research Laboratories, I discovered a new probability distribution named "Q-Distribution". It is a family of statistical distributions unifying the popular normal and log-normal distributions and many others. The new model excited me for its potential applications in many fields as a goodness-of-fit improvement over the normal distribution (bell-curve). The findings were documented as a working paper titled "Q-Distributions - A Family of Generalized Normal Distributions". This unpublished piece has continuously motivated me to further discover the deeper scientific principles governing the capital market behaviors.
Increasingly I realize that most existing financial market research, including many Nobel Prize-winning works, are very superficial and incredibly flawed (built on unrealistic and over-simplified assumptions). These theories are so misleading to the financial industry's product development and ultimately harmful to investors. The capital securities market is driven by investor psychology and more difficult to quantify than my earlier engineering problems. There are much more on investor and market behaviors to be discovered for us to understand.
Luckily, my work experiences have offered me not only the opportunity to serve investors for their needs but also the possibility to provide investor education through interviewing thousands of investors, observing and understanding their real-life stories. This allows my thinking being expanded, spare time research results being refined, and educational knowledge being enhanced. Most of my research were proprietary in the past, including the fat-tailed and skewed probability distributions for modeling stock prices and asset return statistics (the new Q-Distributions or Black Swan Model), theory of capturing and measuring crowd emotion (the new Investor Emotion Index or Yin-Yang Index), and the uniformed portfolio evaluation method (the new Theme-Based Benchmarks and the Calmar-Yang Ratio), among many others. It is my plan to gradually publish these scientific findings on my free research and education sites to share with all investors.
Earlier Professional Experiences
Over the last 30+ years, many career opportunities came to me so that I had gained experience in international marketing, investment banking and research, and technology management. I served as the founding President of American China International Business Association (ACIBA) (1997 - 2003), and have been invited as a guest speaker at leading Asian TV stations including LA Channel 18; ETTV America; Phoenix TV North America; and China Business Network. I also served as a Director at Shanghai International Industry Friendship Association (1995 - 2000).
After 16 years of offering wealth management services, I retired from Charles Schwab as Vice President - Senior Financial Consultant. Prior to Schwab, I was the Managing Director of Global Investment Banking at American Eastern Securities (2001 - 2003), a Member of NASD and SIPC, and was appointed as the portfolio manager of Luminus Pacific Rim Fund, a member of Luminus Hedge Funds, one of the top funds ranked by Nelson World's Best Money Managers in 2001.
During my earlier life, I was fortunately offered various opportunities to work for several publicly traded companies, including Vice President - acting branch manager at Asia Pacific Services of Charles Schwab (NASDAQ: SCHW) in 2006, and previous experiences as a Software Engineer and Assistant General Manager (startup of Wang China Limited in Shanghai) at Wang Laboratories (NYSE: WANG) (1984 -1988), Business Planner at Nortel Networks (NYSE: NT) (1993 - 1995), Product Line Manager (GM) at Hughes Electronics (NYSE: GMH) (1995 - 1997), Director at Watkins-Johnson (NYSE: WJ) (1997 - 1998), Vice President of ZTE Corporation to lead the startup of ZTE USA (1998), President and CEO of Datang Xinwei Telecom Technology (creator of TD-SCDMA technology) (1998 - 2000), Chief Executive Officer at Hartcourt Companies (Frankfurt/OTC: HRCT) (2000 - 2001). I had the honor to become the featured CEO selected by the China Electronic Enterprise magazine (ISSN 1007-2098) published in December 1999 for leading product advancement towards international standard and 3G wireless evolution. As a non-profit initiative sponsoring scientific research projects and investor education, I also founded the Institute of Systematic Investment Research (ISIR) (1996 - 2003, with new free research and education sites relaunched in 2019).
Other Research and Education Background
By working on early wireless technology development, I came up with the concept of Mobile Payment System (Patent Publication Number: US20020073027, published on June 13, 2002). This very first patent application in the field covers a mobile payment method designed to facilitate payment and transaction in addition to credit card and debit card. Many years later, mobile payment technology has evolved and mobile pay applications have been increasingly adopted all over the world in many different ways. My other early research in wireless communications includes example 1, example 2, and example 3, and I had a strong research interest in early Artificial Intelligence technology, such as the Hybrid Architectures for Intelligent Systems and Building Expert Systems by a Modified Perceptron Network with Rule-Transfer Algorithm.
I received a Master of Applied Science and Ph.D. degrees in electrical & computer engineering from the University of Victoria of Canada, and a BSEE degree from the University of Science and Technology of China. I was honored to be a recipient of national NSERC scholarships from 1990 - 1992, and awarded the prestigious 1994 academic Gold Medal of Governor General of Canada, and was a 5-time Charles Schwab Chairman's Club winner. I am a CERTIFIED FINANCIAL PLANNER™.
Contact Charlie Q. Yang
EMAIL ADDRESS
cqyang@gmail.com
TELEPHONE/TEXT
310-528-5511
MAILING ADDRESS
P. O. Box 3822
Palos Verdes, CA 90274
cqyang@gmail.com
TELEPHONE/TEXT
310-528-5511
MAILING ADDRESS
P. O. Box 3822
Palos Verdes, CA 90274