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eBook Inside the Investor's Brain: The Power of Mind Over Money ePub

eBook Inside the Investor's Brain: The Power of Mind Over Money ePub

by Richard L. Peterson

  • ISBN: 0470067373
  • Category: Economics
  • Subcategory: Perfomance and Work
  • Author: Richard L. Peterson
  • Language: English
  • Publisher: Wiley; 1 edition (July 9, 2007)
  • Pages: 416
  • ePub book: 1688 kb
  • Fb2 book: 1328 kb
  • Other: lit docx azw doc
  • Rating: 4.7
  • Votes: 912

Description

Richard L. Peterson .

Unique insights into how the mind of an investor operates and how developing emotional awareness leads to long-term success. Inside the Investor's Brain provides readers with specific techniques for understanding their financial psychology, so that they can improve their own performance and learn how to outsmart other investors. Chapter by chapter, author Richard Peterson addresses various mental traps and how they play a role in investing. This book also contains descriptions of the work of neuroscientists, financial practitioners, and psychologists, offering an expert's view into the mind of the market.

Inside the Investor's Brain: The Power of Mind Over Money by Richard L. .It is a book that informs us about how to gauge changes in the emotional temperatures of financial market participants.

In his debut book on trading psychology, Inside the Investor's Brain, Richard Peterson demonstrated how managing emotions helps top investors outperform.

Inside the Investor's Brain, written by an experienced but surprisingly young author (he's .

Inside the Investor's Brain, written by an experienced but surprisingly young author (he's 35), is outstanding. Peterson and his first book have much to offer investors and the institutions in which they work. - Dr. David L. Nathan, (Barron's, September 2007). Part One: The Intersection of Mind and Money describes basic brain function and how it is unsuited to modern financial market dynamics. Part Two: Feelings and Finance explains emotional states, their chemical basis, how they alter our financial judgments, and optimal investor personality characteristics.

Электронная книга "Inside the Investor's Brain: The Power of Mind Over Money", Richard L. Эту книгу можно прочитать в Google Play Книгах на компьютере, а также на устройствах Android и iOS. Выделяйте текст, добавляйте закладки и делайте заметки, скачав книгу "Inside the Investor's Brain: The Power of Mind Over Money" для чтения в офлайн-режиме.

Richard L. Peterson - Inside the Investor's Brain: The Power of Mind Over Money

Richard L. Peterson - Inside the Investor's Brain: The Power of Mind Over Money. Unique insights into how the mind of an investor operates and how developing emotional awareness leads to long-term success Inside the Investor's Brain provides readers with specific techniques for understanding their financial psychology, so that they can improve their own performance and learn how to outsmart other investors.

Categories: Business\Trading. Series: Wiley Trading.

Издательство: "John Wiley&Sons Limited (USD)". 84 руб и скачать на Litres. См. также в других словарях: United States - a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific.

Richard Peterson – Inside the Investor’s Brain

Richard Peterson – Inside the Investor’s Brain. The Power of Mind Over Money. Richard Peterson – Inside the Investor’s Brain. Unique insights into how the mind of an investor operates and how developing emotional awareness leads to long-term success Inside the Investor’s Brain provides readers with specific techniques for understanding their financial psychology, so that they can improve their own performance and learn how to outsmart other investors.

Download PDF book format. Choose file format of this book to download: pdf chm txt rtf doc. Download this format book. Inside the investor's brain : the power of mind over money Richard L. Preface Acknowledgments About the author Introduction Foundations: the intersection of mind and money Markets on the mind: the challenge of finding an edge Brain basics: the building blocks Origins of mind: expectations, beliefs, and meaning Neurochemistry: this is your brain on drugs Feelings and finances Intuition: the power of listening to your gut Money emotions: clouding judgment Joy, hope, and greed: hooked on.

Inside the Investor's Brain Summary by Richard L. Peterson examines The Power of Mind Over Money and how you . You must have asked yourself numerous times, if transcending minds can make colossal financial mistakes, what are the chances that you avoid such slipups?

Inside the Investor's Brain Summary by Richard L. Peterson examines The Power of Mind Over Money and how you can use that influence to enhance your position. You must have asked yourself numerous times, if transcending minds can make colossal financial mistakes, what are the chances that you avoid such slipups? Who Should Read Inside the Investor’s Brain ? And Why? Inside the Investor’s Brain is a helpful, compelling and entertaining book. Richard L. Peterson examines an expansive scope of emotional and intellectual factors that play a role in making investment decisions.

Unique insights into how the mind of an investor operates andhow developing emotional awareness leads to long-term success

Inside the Investor's Brain provides readers with specifictechniques for understanding their financial psychology, so thatthey can improve their own performance and learn how to outsmartother investors. Chapter by chapter, author Richard Petersonaddresses various mental traps and how they play a role ininvesting. Through examples, such as a gambling experiment withplaying cards, the author shows readers how being aware of thesubconscious can separate the smart investors from the averageones. This book also contains descriptions of the work ofneuroscientists, financial practitioners, and psychologists,offering an expert's view into the mind of the market. Innovativeand accessible, Inside the Investor's Brain gives investors thetools they need to better understand how emotions and mental biasesaffect the way they manage money and react to market moves.

Comments

Cordanius Cordanius
Richard L. Peterson, Inside the Investor's Brain: The Power of Mind over Money (Wiley 2007).

Richard Peterson is a medical doctor with a residency in psychiatry, and with postgraduate training in neuroeconomics from Stanford University. He is a former stock trader, Associate Editor of The Journal of Behavioral Finance, a high-level professional economics journal. He also runs a hedge fund based on the principles laid down in this book. It would be hard to find someone better credentialed to give investment advice.

This a self-help book for people who are scientifically minded, care about managing their finances better, and are beyond the obvious, but most important, issues, such as paying the rent or mortgage on time, avoiding credit card debt, and treating Las Vegas or the state lottery as the wise man's preferred risk management strategy. The book is completely chocked with good ideas based on solid fact, and is nevertheless pleasant and enjoyable reading.

Peterson tells you right from the start the basics of investing: (a) if it sounds too good to be true, it probably is; (b) aggressive investing (churning your portfolio) is good for your broker and bad for you---pick a portfolio and then let it do its job without daily monitoring and stock switching; (c) if you think you can beat the market because you are lucky, smart, high-testosterone, physically attractive, blessed by God, or what have you, you are really just a sucker; (d) unless you have some special information (and that does mean a stock tip from your nephew in the pharmaceutical industry), stick with low overhead mutual funds and government/corporate bonds---read the prospectus to make sure there are no up front or back-loaded charges, and the yearly service charge is very, very small (expense ratio below 0.2%); (e) money that you might need in the next ten years should be put in bonds, the rest in stocks---older investors should have their retirement needs met by fixed return instruments, such as pensions, social security, and interest from bonds.

If you think anything I said in the previous paragraph is incorrect, you are a sucker and you will most likely lose money. If you follow all of the above principles, you are a wise investor, and you will make money. It is just that simple.

If you believe me, and you can actually follow this advice, you really don't need to read Peterson's book, although you may find it interesting on purely intellectual grounds. If you are a sucker, as defined above, you won't benefit from this book, but then again, you won't have gotten this far in this review, either.

Who, then, is this book for? First and foremost, it is for someone who has an open mind, does not accept uncritically my investment advice above, but is willing to be persuaded by the facts. Peterson presents all the fact you will ever need. Second, you may believe I am basically correct, but the existence of so many multi-millionaire "smart traders" suggests that there may be a "sixth sense" or a set of behavioral characteristics that allows their owners consistently to beat the market. Peterson believes there is, and he tries to show you how to develop them in this book. The three most important principles he offers are (a) if you know that lots of traders are emotionally biased in one direction, you can make money by betting on the other direction; (b) the market tends to overreact to short-term movements, and you can gain by overreacting in the other direction; and (c) if you can come to understand and correct you own emotional and behavioral weaknesses, you at least stand a chance of beating the market. As to how you come to pick future winners, I do not know, and Peterson does not explain. He talks of "intuition," "hunches", and the like. I am not convinced there is really anything there.

The behavioral economics explained in this book is very interesting in its own right, and Peterson is a wonderful teacher, always getting to the heart of the issue, and neither over- nor under-selling a particular point. As for the neuroscience in the book, it is flashy and impressive, but I think it is just window dressing.
Era Era
Prof. Peterson wrote a masterpiece waving together behavioral finance, market psychology and recent advances in brain science.

The ideas are well presented, illustrated with many examples coming from real life or academic research, while always remaining very accessible and with clear conclusions.

Every investment professional interested in market psychology and/or behavioral finance should own a copy of this outstanding book.
Ubranzac Ubranzac
I'm surprised there's not more reviews of this book, considering I am halfway done with it (it's a very big book and should be read slowly and carefully), and hav picked up a lot already. I looked ahead to see what I was in store for, and it looks like a good study of momentum investing/value investing. I have read Tharp, Kiev, Elder, Douglas, Koppel, who are pretty much the big names of investing, as well as Gilvovich and Plous. I'd say Mark Douglas and this author gave me the most insight in this topic. I plan to read Thaler next so I cannot comment on what Thaler has to offer. This author quotes Michael J. Mauboussin a few times as well, apparently this author likes his work, as do I.

In regards to this book, it is the first book I have come across that had actual psychological studies where the subjects were put to tests to see what kinds of decisions they make in the stock market. This is valuable insight that you don't find much. Usually the author is discussing studies in something other than the stock market, and they extrapolate this data on to what they probably would have done if it were the stock market. This book is full of how people behave in either gambling, or the financial markets. It does go into detail as to what portion of the brain is activated when given certain stimuli, and what effects that portion of the brain give. It is the most in depth and most well researched book I have read so far when it comes to psychology of investing. I have picked up a lot from this book, and now know why we tend to do things that are destructive to our financial health, even after all the books I have read. So we read books like this to gather useful information that we don't know yet, that can be applied successfully to make money, or prevent losing money. Does this book fit this requirement? Absolutely.

In addition to this book I might suggest you read the following I found useful.

How We Know What isn't So, by Gilvovich
Psychology of Judgment and Decision Making, by Pluous
Trading in the Zone and Disciplined Trader by Douglas
More than you Know by Mauboussin

Forget those "Zen and trading" books out there. Go for the real thing.
Erienan Erienan
very clarifying.. not only great studies but concrete examples of market phenomenon. i would insist anyone who wants to consider trading read this book.. I really like how much he backs journaling and just overall emotional health when it comes to success!
Kajikus Kajikus
Every investor should read this book.