Read MarketPsych doc À How to Manage Fear and Build Your Investor Identity Ý dcmdirect

book MarketPsych

Read MarketPsych doc À How to Manage Fear and Build Your Investor Identity Ý dcmdirect é [KINDLE] ❆ MarketPsych: How to Manage Fear and Build Your Investor Identity: 661 ❥ Richard L. Peterson – An investor's guide to understanding the most elusive An investor's guide to understanding the most elusive yet most important aspect of successful investing yourself Why is it that the investing performance of so many smart people reliably and predictably falls short? The answer is not that they know too little about the markets In fact they know too little about themselves Combining the latest findings from the academic fields of behavioral finance and experimental psychology with the down and dirty real world wisdom of successful investors D If I read this book when I started investing instead of this year I expect that I would be hundreds of thousands of dollars better off today than I am None of the books I've encountered before this one helped me correctly identify the behavior that was sabotaging my performanceIn practical terms I have never had a problem accepting loses uickly but I always had a problem holding onto winners I had always assumed that I was simply risk averse or humble enough to take a small profit The funny thing was that I never really felt good about taking a small profit although it beat small lossesThe truth of the matters is that I was overconfident and attempting to optimize through timing what was already a very good set of investmentsThere is one regret much greater than watching an account balance fall and that is looking back 10 15 years later and realizing how much money you would have had you simply stuck with the first 5 10 stocks you ever bought after diligent research of courseFor me at least Chapter 6 is worth the price of the book

mobi Ú How to Manage Fear and Build Your Investor Identity ✓ Richard L. Peterson

Ce and build your investor identity the foundation for long lasting investing success Replete with humorous games insightful self assessments entertaining exercises and concrete planning tools this book goes beyond mere education MarketPsych How to Manage Fear and Build Your Investor Identity functions as a psychological outfitter for your uniue investing journey providing the tools training and euipment to help you navigate the right paths stay on them and see your journey through to succes Great book on realizing that we individual investors at certain times when the market is overreacting should be doing the exact opposite of what the market iebig institutions and our emotions tell us For example when everyone is selling fear rules the day ie everyone and their mother is panicking and stock prices are plummeting we should at some point be BUYING not sellingOn the other hand when everyone is buying and greed rules we should be selling and taking profits It's almost as if Warren Buffet the greatest investor of all time wrote this book A MUST READ for beginning or seasoned investors Now I don't let my emotions dictate my decisions to buy or sell thank God I sell into rallies and then have money when corrections come so I can buy stocks at a discount to their fair value ALWAYS REMEMBER MR MARKET ISN'T RATIONAL AT TIMES AND AT THOSE TIMES WE CAN SELL OVER PRICED STOCKS AND BUY UNDER PRICED STOCKS IF OUR EMOTIONS DON'T OVERRULE COMMON SENSE

Richard L. Peterson ✓ mobi

MarketPsych How to Manage Fear and Build Your Investor Identity 661Rs Richard Peterson and Frank Murtha guide both new and experienced investors through the psychological learning process necessary to achieve their financial goals In an easy and entertaining style that masks the book s scientific rigor the authors make complex scientific insights readily understandable and actionable shattering a number of investing myths along the way You will gain understanding of your true investing motivations learn to avoid the unseen forces that subvert your performan Reading this book now While it has some interesting research on the role of emotions in buying and selling stocks the authors must not have taken time to proofread their book That or the points that seek to make are elusiveChapter 4 for example starts with a talk about a 61 year old named Ed who now has some 12 million in assets Before the financial crisis in 2008 he had 15 million He must have followed the authors advice correct?Nope esentially the entire chapter is a look at what Ed did wrong And concludes on p96 on how he made his mistakesThis chapter makes no sense whatsoever to me; I invite the authors to clarify what I'm missing here