20/20 Money

See the Markets Clearly and Invest Better Than the Pros

AvMichael Hanson

Inbunden, Engelska, 2009

Del 8 i serien Fisher Investments Press

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Beskrivning

20/20 Money: See the Markets Clearly and Invest Better Than the Pros To be a more successful investor, you need to see the investment landscape more clearly. 20/20 Money—from Fisher Investments Press—can help you achieve this goal.Designed to help you think differently about your investing choices, this reliable resource addresses new ideas and challenges widely held conventions. With 20/20 Money as your guide, you'll quickly learn how gaining a firm understanding of various concepts—from stock market and systems theory to neuroscience and psychology—can help you begin making better investment decisions. Along the way, you'll also discover some of the most successful strategies for thinking and learning, and how they can be applied to your investing endeavors.To become a better investor, you have to have the discipline to make tough choices—choices that may not always be in line with tradition or commonly accepted invested wisdom. But the approach outlined throughout these pages can help you gain the vision to begin making better-informed investment decisions.

Produktinformation

Utgivningsdatum:2009-06-12
Mått:158 x 229 x 25 mm
Vikt:499 g
Format:Inbunden
Språk:Engelska
Serie:Fisher Investments Press
Antal sidor:304
Förlag:John Wiley & Sons Inc
ISBN:9780470285398

Utforska kategorier

Finansiering inom Ekonomi och Ledarskap

Mer om författaren

Michael J. Hanson has been an investment banker as well as a stock analyst and is currently a senior editor and recurring columnist at Fisher Investments' MarketMinder.com. He has lectured on topics in money management at the Haas School of Business at the University of California, Berkeley, and speaks regularly throughout the country on a variety of topics, including capital markets and behavioral finance.

Innehållsförteckning

Acknowledgments xiIntroduction xiiiChapter 1 Investing Is a Science 1Apollo’s Arrow Shot Crooked 2Dionysus—More Than Just a Good Vintner 3Use the Method, Not the Dogma 5Careful with Categories 13Could Math Be Wrong? 15Reduction: Why You Can’t Quantify Everything 19Chapter 2 Investing Is a Discipline 27Discipline, Discipline, Discipline 29Sagacity: Seeing Isn’t Believing 41Understanding and Being Curious 48Chapter 3 Human Behavior 51Brain Basics 53Brains on the Market 64My, What a Terrible Memory You Have! 71Bad Behavioral Finance 76Behavioral Miscellany 79Chapter 4 Sentiment and the Media 83Sentiment Basics 85News and the Media 90What’s Their Motive? 98Tips and Tricks to Navigate the Media 100Metaphors We Invest by 106Chapter 5 How Stock Markets Really Work 113Capitalism by Any Other Name 114It’s Complicated . . . A Crash Course in CEAS 118The New Golden Rule 130Oldest and Still the Best: Supply and Demand 139Chapter 6 Forecasting, Part 1—The Principle of Probability 147Forecasting Is Strange Alchemy 148Types of Predictions 150Probability Theory, or How Markets AreNothing Like Coin Tosses 154The Biggest Problem of Them All 163Investing Lessons from Probability 165Looking Ahead . . . 170Chapter 7 Forecasting, Part 2 —Recognizing Patterns 173A Pattern by Any Other Name 174Stock Market Patterns 175Patterns Through the Noise 179It’s a Game of Relative Expectations 181Back to the Future: Using History to Find Patterns 187Three Big Drivers 191An Optimistic Note on Future Patterns 195Chapter 8 Practical Portfolio Management 197The Virtues of Heuristics 198Goal Setting 199Personal Goals 201Portfolio Goals 205The Top-Down Philosophy 210Miscellaneous Heuristics 223Chapter 9 The Nature of Risk and Navigating Markets inTroubled Times 229Risk and Uncertainty 231Financial Risk, or What Happens When You Assume 233In Troubled Times 239Parting Thoughts 253Notes 255Selected Bibliography and Further Reading 259About the Author 269Index 271