Make RATIONAL decisions in the IRRATIONAL world of investing"Readers will find within these pages new truths that will help transform their thinking. This is more relevant than the latest strategies, trading systems, or technical chart formations."--William J. Brodsky, Chairman and CEO, Chicago Board Options Exchange"Koppel offers pioneering insights, backed by substantial research, that help explain how psychology influ...

Bold, Profound, Funny “I’m alive in the Nighthawks, above a coral reef of truth and lies, the recipient of far too many short Joe Louis’s and a series of long loopers to the body and chin. A bit of illuminated ceiling brightens the interior. Outside, dull hues predominate. Inside, triangular countertop, yellow door, anonymous figures in boxy suits. The only hint of life and color, a soda jerk in white uniform, and the red blouse of a customer. Reconstructe...

Fooled by Randomness is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are The Black Swan, Antifragile, Skin in the Game, and The Bed of Procrustes.Fooled by Randomness is the word-of-mouth sensation that will change the way you think about busines...

**Winner of the Nobel Prize in EconomicsGet ready to change the way you think about economics.**Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world.

Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money. He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation.

A detailed guide to overcoming the most frequently encountered psychological pitfalls of investingBias, 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 ta...

Drawing on the latest scientific research, Jason Zweig shows what happens in your brain when you think about money and tells investors how to take practical, simple steps to avoid common mistakes and become more successful.What happens inside our brains when we think about money? Quite a lot, actually, and some of it isn’t good for our financial health. In Your Money and Your Brain, Jason Zweig explains why smart people make stupid financial decisions—and ...

Protect and grow your finances with help from this definitive and practical guide to behavioral economics—revised and updated to reflect new economic realities.In their fascinating investigation of the ways we handle money, Gary Belsky and Thomas Gilovich reveal the psychological forces—the patterns of thinking and decision making—behind seemingly irrational behavior. They explain why so many otherwise savvy people make foolish financial choices: why investors are ...

Much of what we experience in life results from a combination of skill and luck.” - From the IntroductionThe trick, of course, is figuring out just how many of our successes (and failures) can be attributed to each-and how we can learn to tell the difference ahead of time.In most domains of life, skill and luck seem hopelessly entangled. Different levels of skill and varying degrees of good and bad luck are the realities that shape our li...

No matter your field, industry, or specialty, as a leader you make a series of crucial decisions every single day. And the harsh truth is that the majority of decisions—no matter how good the intentions behind them—are mismanaged, resulting in a huge toll on organizations, the people they employ, and even the people they serve.So why is it so hard to make sound decisions? In Think Twice, now in paperback, Michael Mauboussin argues that we often fall victim to simplified me...

In this major revision of his investment classic, one of the premier investment managers introduces vitally important new findings in psychology that show why most investment strategies are fatally flawed and his contrarian strategies are the best way to beat the market.The need to switch to a new approach for investing has never been more urgent. The crash of 2008 revealed in dramatic fashion that there are glaring flaws in the theory that underlies all of the pre...

Seize the advantage in every trade using your greatest asset—“psychological capital”!When it comes to investing, we're usually taught to “conquer” our emotions. Denise Shull sees it in reverse: We need to use our emotions.Combining her expertise in neuroscience with her extensive trading experience, Shull seeks to help you improve your decision making by navigating the shifting relationships among reason, analysis, emotion, and intuition. This is y...