Investment Madness [Hardback]How Psychology Affects Your Investing...And What To Do About Itby John NofsingerThis book is OUT OF PRINT You may be able to find a copy at ABE Books Description of Investment MadnessBook DescriptionWhy'd you fall for that Internet stock? Why do you always seem to buy high and sell low? Investing is a human endeavour. As such, irrationality and emotion, perhaps more than rationality, can drive this human endeavour. However, the history and tradition of investment books has focused solely on the study of numbers and rational affairs - until now. Research shows that most traders invest more on their hunches, their emotions, than on a rational set of criteria. Sentiment really can drive market prices, and the more the emotional reliance the greater the danger. This is the first book to deal directly with the psychology of investing, to ensure you make the right, rational investment decision. It all starts here: Allowing emotion to invade your investment decisions can be hazardous to your wealth. Think about your investments more clearly and discover this: How overconfident investors trade too much, take too many risks, and earn lower returns ; the investment impact of your self-image ; why avoiding feelings of regret now will cause you even greater regrets later; yesterday's trade, today's emotions, tomorrow's mistake ; placing your recent investment experiences in realistic perspective ; the devil you know versus the devil you don't ; familiarity breeds investment-but not necessarily profit ; is your memory playing tricks with you? Why did you fall for that Internet stock? why do you always seem to buy high and sell low? Why does it look like everyone else is getting rich but you? You're not alone. We'll tell you what to do about it It's your psychology. It's your emotions. As an investor, they're your biggest obstacles. They cut your returns, and raise your risks. It's about time you did something about it. Investment Madness will show you how. Drawing on the new science of behavioral finance, Dr. John Nofsinger shows you how to: See through the 'illusion of control' that makes you overconfident about your investments Objectively evaluate the stocks and financial instruments you've inherited Recognize the feelings of pride, regret, and herd behavior that lead to disaster Improve your 'mental accounting'-and your portfolio's diversification With today's instantaneous Internet-based trading, your psychological biases have become more dangerous than ever. Investment Madness delivers expert techniques and mental strategies that will empower you with true self-control-the decisive factor in investment success. This is the only book that deals directly with the psychology of investing. Read it and use it to your advantage! Title Information
Financial Guru ReviewsThose of you familiar with my own work and philosophy on successful investing will already know that I consider the psychological side of market speculation to be the most important aspect. Surprisingly, there is a lack of good books on the subject although this great little publication goes a long way to address the imbalance. The author examines every aspect of the psychology of investing in an easy to read yet detailed manner. I can't recommend this book highly enough.Mark Shipman Subtitled: 'How psychology affects your investing and what to do about it'. This is one of the must reads! It is highly amusing but also very sharp.You may recognise your own character traits in the book - and once you recognise them, you can learn how to stop bad sides to your character ruining your trades. Topics include the problems of overconfidence, social aspects of investing, the 'double or nothing' mentality, seeking pride and avoiding regret. Robbie Burns Write a review of this book Customer Reviews from Amazon |
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