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Overview
From the New York Times bestselling author of the book named the best investment book of 2017 comes The Behavioral Investor, an applied look at how psychology ought to inform the art and science of investment management.
In The Behavioral Investor, psychologist and asset manager Dr. Daniel Crosby examines the sociological, neurological and psychological factors that influence our investment decisions and sets forth practical solutions for improving both returns and behavior. Readers will be treated to the most comprehensive examination of investor behavior to date and will leave with concrete solutions for refining decision-making processes, increasing self-awareness and constraining the fatal flaws to which most investors are prone.
The Behavioral Investor takes a sweeping tour of human nature before arriving at the specifics of portfolio construction, rooted in the belief that it is only as we come to a deep understanding of “why” that we are left with any clue as to “how” we ought to invest. The book is comprised of three parts, which are as follows:
- Part One – An explication of the sociological, neurological and physiological impediments to sound investment decision-making. Readers will leave with an improved understanding of how externalities impact choices in nearly imperceptible ways and begin to understand the impact of these pressures on investment selection.
- Part Two – Coverage of the four primary psychological tendencies that impact investment behavior. Although human behavior is undoubtedly complex, in an investment context our choices are largely driven by one of the four factors discussed herein. Readers will emerge with an improved understanding of their own behavior, increased humility and a lens through which to vet decisions of all types.
- Part Three – Illuminates the “so what” of Parts One and Two and provides a framework for managing wealth in a manner consistent with the realities of our contextual and behavioral shortcomings. Readers will leave with a deeper understanding of the psychological underpinnings of popular investment approaches such as value and momentum and appreciate why all types of successful investing have psychology at their core.
Wealth, truly considered, has at least as much to do with psychological as financial wellbeing. The Behavioral Investor aims to enrich readers in the most holistic sense of the word, leaving them with tools for compounding both wealth and knowledge.
In The Behavioral Investor, psychologist and asset manager Dr. Daniel Crosby examines the sociological, neurological and psychological factors that influence our investment decisions and sets forth practical solutions for improving both returns and behavior. Readers will be treated to the most comprehensive examination of investor behavior to date and will leave with concrete solutions for refining decision-making processes, increasing self-awareness and constraining the fatal flaws to which most investors are prone.
The Behavioral Investor takes a sweeping tour of human nature before arriving at the specifics of portfolio construction, rooted in the belief that it is only as we come to a deep understanding of “why” that we are left with any clue as to “how” we ought to invest. The book is comprised of three parts, which are as follows:
- Part One – An explication of the sociological, neurological and physiological impediments to sound investment decision-making. Readers will leave with an improved understanding of how externalities impact choices in nearly imperceptible ways and begin to understand the impact of these pressures on investment selection.
- Part Two – Coverage of the four primary psychological tendencies that impact investment behavior. Although human behavior is undoubtedly complex, in an investment context our choices are largely driven by one of the four factors discussed herein. Readers will emerge with an improved understanding of their own behavior, increased humility and a lens through which to vet decisions of all types.
- Part Three – Illuminates the “so what” of Parts One and Two and provides a framework for managing wealth in a manner consistent with the realities of our contextual and behavioral shortcomings. Readers will leave with a deeper understanding of the psychological underpinnings of popular investment approaches such as value and momentum and appreciate why all types of successful investing have psychology at their core.
Wealth, truly considered, has at least as much to do with psychological as financial wellbeing. The Behavioral Investor aims to enrich readers in the most holistic sense of the word, leaving them with tools for compounding both wealth and knowledge.
Product Details
| ISBN-13: | 9780857196866 |
|---|---|
| Publisher: | Harriman House |
| Publication date: | 10/16/2018 |
| Pages: | 280 |
| Sales rank: | 804,891 |
| Product dimensions: | 5.60(w) x 8.70(h) x 0.80(d) |
About the Author
Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby’s first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into 12 languages. His third book, The Behavioral Investor, was Axiom’s best investment book of 2019 and is a comprehensive look at the neurology, physiology and psychology of sound financial decision-making. When he’s not decoding market psychology, Daniel is a husband and father of 3, a fanatical follower of the St. Louis Cardinals, an explorer of the American South, and an amateur hot sauce chef.
Table of Contents
Foreword Noreen D. Beaman ix
Preface xi
Part 1 The Behavioral Investor
Chapter 1 Sociology 3
Chapter 2 Investing on the Brain 11
Chapter 3 Physiology 26
Part 2 Investor Psychology
Chapter 4 Ego 45
Chapter 5 Conservatism 63
Chapter 6 Attention 76
Chapter 7 Emotion 91
Part 3 Becoming a Behavioral Investor
Chapter 8 The Behavioral Investor Overcomes Ego 111
Chapter 9 The Behavioral Investor Conquers Conservatism 129
Chapter 10 The Behavioral Investor Hones Attention 148
Chapter 11 The Behavioral Investor Manages Emotion 163
Part 4 Building Behavioral Portfolios
Chapter 12 Investing a Third Way 179
Chapter 13 Behavioral Investing is Rules-Based 189
Chapter 14 Behavioral Investing is Risk First Investing 203
The Behavioral Investor
Chapter 15 Behavioral Investing has No Masters of the Universe 218
Chapter 16 Sample Behavioral Investment Factors 225
Epilogue. Endure to the End 243
Index 245
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