Expert advice in a back-to-basics handbook on how to beat the market-the classic way In Investment Psychology Explained Martin J. Pring, one of the most respected independent investment advisors in the world, argues that in the revisionist '90s there are no quick, magical paths to market success. Rather, he emphasizes the timeless values of hard work, patience, and self-discipline-and much more. Drawing on the wisdom of creative investors such as Jesse Livermore, Humphrey Neill, and Barnard Baruch, as well as his own experience, Pring shows how to: Overcome emotional and psychological impediments that distort decision making Map out an independent investment plan-and stick to it Know when to buck herd opinion-and "go contrarian" Dispense with the myths and delusions that drag down other investors Resist the fads and so-called experts whose siren call to success can lead to disaster Exploit fast-breaking news events that rock the market Deal skillfully with brokers and money managers Learn and understand the rules that separate the truly great investors and traders from the rest Reading Investment Psychology Explained will give you a renewed appreciation of the classic trading principles that, through bull and bear markets, have worked time and again. You'll see, with the help of numerous illustrative examples, what goes into making an effective investor-and how you can work toward achieving that successful profile.
Part I: Knowing Yourself
1. There Is No Holy Grail
2. How to Be Objective
3. Independent Thinking
4. Pride Goes Before a Loss
5. Patience Is a Profitable Virtue
6. Staying the Course
Part II: The Wall Street Herd
7. A New Look at Contrary Opinion
8. When to Go Contrary
9. How to Profit from Newsbreaks
10. Dealing with Brokers and Money Managers the Smart Way
Part III: Staying One Step Ahead
11. What Makes a Great Trader or Investor?
12. Nineteen Trading Rules for Greater Profits
13. Making a Plan and Sticking to it
14. Classic Trading Rules
Bibliography
Index
About Martin J. Pring
MARTIN J. PRING is publisher of the highly regarded newsletter, The Pring Market Review. A frequent contributor to Barron's and other leading investment periodicals, he is the author of The All-Season Investor, the bestselling Technical Analysis Explained, and a number of other books on interest rates, international investing, and commodities and futures.
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