Behavioral Finance and Your Portfolio (Michael M. Pompian).

Эта книга, написанная Майкл М. Помиан, поможет вам стать более успешным и стратегическим инвестором. Узнаете из нее о 5 ключевых ошибках мышления и подсознательных действиях. Автор четко и без лишних слов, донесет до вас все знания об этих ошибках. На примерах инвесторского

Aimed at amateur investors seeking to maximize returns and minimize risk on the stock market, Michael M. Pompmann, America's leading academic behavioral finance expert and former national director of the Center for Financial Planning in Baltimore County, MD, provides readers with strategies to avoid the dangers of emotional investing. Behavioral finance involves the study of how humans and other animals make decisions and manage their investments, especially in a polarised market. The author identifies five fundamental flaws, or behaviors, that can harm any investor: risk aversion; loss aversion (or regret aversion); outlook (also called hindsight bias, i.e., judging outcomes after the event); overconfidence, and anchor, or sticking with one's initial investment choice. According to the author, these biases reduce the probability that an investor will select trades that have the best expected value, and increase the occurrence of unprofitable trades and excessive risk. The book reviews data collected from Amazon Mechanical Turk, which tests hypotheses at low cost to prevent Nureyev's error, and offers an investor's psychological guide to identify one's own investment profile, to manage such faults. Pompmann employs the basic tools of EA, risk, stability index, volatility, returns to investors for trend analysis. He illustrates his approaches with 50 real-world investing examples to provide concrete support for invest with heart and head. He includes every kind of security in consideration, ranging from options, bonds, penny commodities, funds, ETFs, forex, equities, mutual funds to real estate and gold. This book is a comprehensive guide for average Joes, not learned professionals, hopefully it will help many readers beat their financial lethargy.