The Little Book of Behavioral Investing: How not to be your own worst enemy
- ISBN13: 9780470686027
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
A detailed guide to overcoming the most frequently encountered psychological pitfalls of investing
Bias, emotion, and overconfidence are just three of the many behavioral traits that can lead investors to lose money or achieve lower returns. Behavioral finance, which recognizes that there is a psychological element to all investor decision-making, can help you overcome this obstacle.
In The Little Book of Behavioral Investing, expert James Montier takes you through some of the most important behavioral challenges faced by investors. Montier reveals the most common psychological barriers, clearly showing how emotion, overconfidence, and a multitude of other behavioral traits, can affect investment decision-making.
- Offers time-tested ways to identify and avoid the pitfalls of investor bias
- Author James Montier is one of the world’s foremost behavioral analysts
- Discusses how to learn from our investment mistakes instead of repeating them
- Explores the behavioral principles that will allow you to maintain a successful investment portfolio
Written in a straightforward and accessible style, The Little Book of Behavioral Investing will enable you to identify and eliminate behavioral traits that can hinder your investment endeavors and show you how to go about achieving superior returns in the process.
Praise for The Little Book Of Behavioral Investing
“The Little Book of Behavioral Investing is an important book for anyone who is interested in understanding the ways that human nature and financial markets interact.” —Dan Ariely, James B. Duke Professor of Behavioral Economics,Duke University, and author of Predictably Irrational
“In investing, success means¿being on the right side of most trades. No book provides a better starting point toward that goal than this one.” —Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School
“‘Know thyself.’ Overcoming human instinct is key to becoming a better investor.¿ You would be irrational if you did not read this book.” —Edward Bonham-Carter, Chief Executive and Chief Investment Officer, Jupiter Asset Management
“There is not an investor anywhere who wouldn’t profit from reading this book.”
—Jeff Hochman, Director of Technical Strategy, Fidelity Investment Services Limited
“James Montier gives us a very accessible version of why we as investors are so predictably irrational, and a guide to help us channel our ‘Inner Spock’ to make better investment decisions. Bravo!” —John Mauldin, President, Millennium Wave Investments
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The `Little Book’ series continues to produce good work as this 10th installment is an exceptional introductory to our mental traps that we tend to slip into and then often repeat. The book is a quick and enjoyable read and is very clear with only the minimal amount of psychology jargon. This book comes highly recommended for any bookshelf on how to invest better and to make better decisions. Good reading and enjoy the journey of how not to be your own worst enemy :)
A sample of the first few chapters and mental traps are as follows: (seventeen chapters in total)
Chapter 1 - Paralysis Of Empathy Gap
Chapter 2 - Fear/Risk Aversion
Chapter 3 - Overoptimism
Chapter 4 - Authority Respect/Overconfidence
Chapter 5 - Anchoring
Chapter 6 - Information Overload
Chapter 7 - Reason Respecting
Chapter 8 - Conformational Bias
As a side note: I have pointed out in other reviews of additional books below that are in the same genre and which are some of my favorites. So if you like this very good introductory book, then you may be interested in other social influences and hidden traps our minds fall into. If so, I provide the following recommendations: Think Twice (introductory), Influence: The Psychology of Persuasion (polymath classic), How We Know What Isn’t So (very good), Mean Markets and Lizard Brains (Hidden Gem), The Psychology of Judgment & Decision Making (Classic), and Poor Charlie’s Almanack (Charlie’s Insights).
Think Twice: Harnessing the Power of Counterintuition
Influence: The Psychology of Persuasion (Collins Business Essentials)
How We Know What Isn’t So: The Fallibility of Human Reason in Everyday Life
Mean Markets and Lizard Brains: How to Profit from the New Science of Irrationality
The Psychology of Judgment and Decision Making
Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
Rating: 4 / 5
The Little Book of Behavioral Investing: How not to be your own worst enemy