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US import, usually ships within 20 working days
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- Product code: 15475
- ISBN: 0130668419,
ISBN13: 9780130668417,
327 pages, hardback
Published by FT Prentice Hall on 2002
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Description of Investment Blunders of the Rich and Famous . . . and What You Can Learn From Them |
The most common investor mistakes -- and how you can avoid them!
Every investor - even the worlds most prominent and respected investors - is subject to the foibles of human psychology. Now, John Nofsinger, identifies the most common investor mistakes through the prism of the worlds most public investment catastrophes.
Using other peoples money and other peoples disasters, Investment Blunders teaches a wide range of critical lessons every investor must learn. John Nofsinger shows how to avoid the overconfidence displayed by John Meriwether and David Mullins, and by Nobel laureates Myron Scholes and Robert Merton, the founders of the failed Long Term Capital Management hedge fund. He demonstrates how to avoid the hubris that nearly destroyed KKR in its bidding war over RJR Nabisco; how to identify and control the greed that sank Michael Milken and many of his contemporaries; and how to keep sight of the fundamentals, avoiding the disastrous investments that led to the 1980s S&L crisis. Read each Blunder, and you will learn of a common error that you can avoid in the future.
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Contents of Investment Blunders of the Rich and Famous . . . and What You Can Learn From Them |
Preface.
Acknowledgments.
1. Other Peoples Problems.
Do-It-Yourself Investing. Investor Performance. Effect of a Blunder. Endnotes.
I. SELF-INFLICTED COMMON PROBLEMS.
2. Behavioral Finance.
Your Psychological Biases. Emotions. Simplification. The Investment Environment. Summary. Endnotes.
3. Patterns and Predictions.
Gamblers Fallacy. Streaks. Investors and Trends. From Dogs to Fools. Mining Fools Gold. High-Tech Data Mining. Foresight and Hindsight. Summary. Endnotes.
4. Mood, Optimism, and Investing.
Moods and Expectations. Sunshine. The Bias of Optimism. Optimism, Exuberance, And Blunders. Rampant Optimism and Pessimism. Summary. Endnotes.
5. Profits from the Prophets?
Analysts. The Biases of Analysts. Dartboard. Barrons Annual Roundtable. Value Line. Newsletters. Insiders. Economists. Summary. Endnotes.
6. Foolish Risks.
The Right Risks. Fall of a Titan. Your 401(k) Plan. Active Risk Management. How Much Diversification? Picking Portfolios. Endnotes.
II. TRYING TO BEAT THE MARKET.
7. Timing the Market.
All Types of Market Timing. Tools of the Trade. Professional Timing. The Timing Newsletter. Timing in Bull and Bear Markets. Individual Investors and Market. Timing. Market Timing and Risk. Summary. Endnotes.
8. Mutual Funds- Performance.
Mutual Fund Managers are Superior. Investors. Mutual Fund Investors Underperform the Market. Paradox Resolved. Do Winners Repeat? Mutual Fund Ads. Chasing Winners. Tournaments and Temptations. Star Power. Summary. Endnotes.
9. Mutual Funds- Carrying the Load.
Mutual Fund Fees. LOADING UP. QUID PRO QUO. A FEE BY ANY OTHER NAME. What Mutual Funds Give, the Tax Man Takes Away. Out of Sight and Out of Mind. Endnotes.
10. The Social Investor.
The Friends You Keep. Being Social. Talking Stocks. Investment Analysis. Media. Summary. Endnotes.
11. Get Rich Quick.
The Pyramid. A Pyramid in Albania. The Caritas Pyramid in Romania. A Pyramid in Russia. Pyramids in the United States. Gifting As A Pyramid. The Internet, an Effective Pyramid Medium. Summary. Endnotes.
III. COLOSSAL BLUNDERS.
12. The Eggheads Crack.
In the Beginning. The Hedged Bet. The Hedge Fund. Long-Term Capital Management. LTCMS TRADING. Leverage. Overconfidence. Imitation May Be Flattering, ButŁ. The Beginning of the End. The Fear Of A Crisis. Summary. Endnotes.
13. An Orange Squeezed.
The Rise of Robert Citron. Citron In Demand. The Repo Man. The Economy Changes. The Squeeze. A Rescue? The Aftermath. Summary. Endnotes.
14. Betting the Bank.
Barings Bank. Nicholas Leeson. Arbitrage and Futures Contracts. An Error in Singapore. DoubleŁOr Double Again. Margin Calls. The Shake Down. Toshihide Iguchi and Daiwa Bank. Kent Ahrens and First Capital. Joseph Jett and Kidder Peabody. Summary. Endnotes.
15. Investing to Win and Avoid the Blunders.
Getting on the Right Track. Financial Goals. (Your Destination). Investment Return. Asset Allocation. Implementation. Index Mutual Funds. Indexing With Exchange. Traded Funds. Implementation in the Real World. Continuing Process. Summary. Endnotes.
Appendix.
Index.
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