Inside the investor's brain: the power of mind over money
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Hoboken, NJ [u.a.]
Wiley
2007
|
| Schriftenreihe: | Wiley trading series
|
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018683553&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XXI, 392 S. Ill., graph. Darst. |
| ISBN: | 9780470067376 0470067373 |
Internformat
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| 100 | 1 | |a Peterson, Richard Lewis |d 1939- |e Verfasser |0 (DE-588)135570018 |4 aut | |
| 245 | 1 | 0 | |a Inside the investor's brain |b the power of mind over money |c Richard L. Peterson |
| 264 | 1 | |a Hoboken, NJ [u.a.] |b Wiley |c 2007 | |
| 300 | |a XXI, 392 S. |b Ill., graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Wiley trading series | |
| 650 | 4 | |a Psychologie | |
| 650 | 4 | |a Investments |x Psychological aspects | |
| 650 | 0 | 7 | |a Wirtschaftspsychologie |0 (DE-588)4066506-9 |2 gnd |9 rswk-swf |
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| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-018683553 | |
Datensatz im Suchindex
| DE-BY-TUM_call_number | 0002 PSY 435 2009 A 10242 |
|---|---|
| DE-BY-TUM_katkey | 1712600 |
| DE-BY-TUM_location | 00 |
| DE-BY-TUM_media_number | 040006906414 |
| _version_ | 1821933786737147904 |
| adam_text | Contents |
Preface
Acknowledgments xlx
About the Author xxl
Introduction 1
PART I Foundations 7
CHAPTER 1 Markets on the Mind 9
Analysts and Dart Boards 11
Developing Better Expectations 12
The Wisdom of the Collective 13
Meteorological Anomalies and Other
Animal Spirits 15
Sentiment 17
CHAPTER 2 Brain Basics 19
Damasio and the Iowa Gambling Task 21
The Brain: Structure and Function 23
The Brain-Damaged Investor 27
Research Methods 30
Neuroscience Preview 31
CHAPTER 3 Origins of Mind 33
Emotions and Perceptions 37
Expectations and the Comparator 39
Counterfactual Comparisons 40
Til
Viii INSIDE THE INVESTOR S BRAIN
Beliefs and Expectations: The Placebo Effect 42
Making Sense of the News 43
Self-Deception 44
Emotional Defense Mechanisms and
Motivated Reasoning 45
CHAPTER 4 Neurochemistry 47
Introducing the Neurotransmitters 48
Serotonin 50
Dopamine 51
Norepinephrine 53
Opiates 54
Stress Hormones 54
Caffeine 55
CABA, Acetylcholine, and Omega-3 Fatty Acids 55
The Chemistry of (Financial) Mental Disorders 56
The Neurochemistry of Financial Performance 58
Serotonin and Market Bubbles 59
Recreational Drugs and Alcohol 61
Alcohol 62
Cocaine 62
PART II Feelings and Finances 65
CHAPTER 5 Intuition 67
Analysis and Intuition 68
Investment Practice 69
What Does Your Gut Tell You? 70
Listening Without Thinking 71
Intuition and Emotion in Investing 72
Emotional Intelligence 73
Subliminal Emotion 73
Stirring the Unconscious 74
CHAPTER 6 Money Emotions 77
Emotional Biases 79
The Difference between Positive and Negative Feelings 80
Regret as a Self-Fulfilling Prophecy 82
Contents ix
An Amicable Divorce 84
Sadness and Disgust 84
Fear and Anger 86
Projection Bias 87
Managing Feelings 87
Summary 88
CHAPTER 7 Excitement and Greed 91
Brokers Kindle Irrational Exuberance 93
The Anatomy of Stock Hype 94
Greed: The Basics 95
The BIAS Task 97
The Nucleus Accumbens 101
Excited About a Good Deal 102
Improving Biased Decision Making 103
Greed in the Markets 104
CHAPTER 8 Overconfident e and Hubris 107
The Psychology of Hubris 108
Overconfidence 109
Illusion of Control 112
Winning Changes the Brain 112
The Neurochemistry of Exploration 114
One Who Knows: Christian Siva-Jothy 114
Confidence—the Good Kind 11 5
Solutions 11 7
CHAPTER 9 Anxiety, Fear, and Nervousness 119
Climbing a Wall of Worry 121
Dread in the MRI 122
Nature versus Nurture 123
It s All in Your Head 124
Empathy Gaps 125
Pain Relief 126
Investment Lessons 127
Of Hurricanes, Risk Perceptions, and Opportunity 128
Summary 129
x INSIDE THE INVESTOR S BRAIN
CHAPTER 10 Stress and Burnout 131
Stress 132
Cramer on Stress 133
Choking for Rupees 133
Which Goes Wrong—the Brains or the Brawn? 135
Stress and Trend Perception 136
Neurochemistry of Stress 137
Biological Effects of Stress 138
Adrenaline Junkies 139
Managing Investment Stress 140
Summary 141
CHAPTER 11 Love of Risk t4i
Knowing When to Fold Em 146
Pathological Gambling 147
The Gambler s Brain 149
Ought to Know Better 1 50
Reducing Gambling 151
Summary 151
CHAPTER 12 Personality Factors 133
The Big Five 1 55
Extraversion versus Introversion 1 56
Neuroticism versus Emotional Stability 1 57
Conscientiousness versus Impulsiveness 1 57
Openness to New Experiences versus Traditionalism 1 58
Agreeableness versus Self-interest 1 58
The Genetics of Personality 158
Investing Personality 160
Neurotic Investors 162
Extraverted, Open, and Conscientious Investors 163
Other Personality Research 164
Trading Psychology 166
PART III Thinking about Money 169
CHAPTER 13 Making Decisions 171
Expected Value and Expected Utility 172
The Jackpot Trap 173
Contents xl
Probability Misjudgments 1 76
Vividness, Imagination, and Desire 179
Ambiguity and Uncertainty 179
Ambiguity in the Markets 180
Neuroscience of Ambiguity, Risk, and Reward 182
The Possibility that You are Overweight 183
The Trusting Brain 184
Neuroscience of the Ultimatum Game 184
The Trust Hormone 185
Implications 186
CHAPTER 14 I ranting Your Options 189
The Disposition Effect 190
A Father-Son Stock Sale 191
Teasing out the Problem 192
Framing Risk 194
A Frame in the Membrane 194
Holding Losers: Double or-Nothing! 197
Differences in Aversion 198
Letting Winners Ride 199
Summary 200
CHAPTER 15 Loss Aversion 203
Neuroscience of Loss Aversion 205
The Equity Premium Puzzle 206
The Implied Put Option 207
Overcoming Loss Aversion 208
The House Money Effect 209
Lessons from the Pope 210
Comments from Soros, Tudor, and
Cramer: Booyah! 212
CHAPTER 16 Time Discounting 215
Get Your Hand out of the Cookie Jar 21 7
Brain Basis of Delayed Gratification 218
Chemical Impulses 219
Monkey Business 219
Making a Killing in the Options Pit 220
Xll INSIDE THE INVESTOR S BRAIN
Improving Self-Control 221
In Practice 223
CHAPTER 17 Herding 225
Herding 227
Social Proof 228
Social Comparison 230
Asch and Conformity 231
Information Cascades 232
Stanley Milgram and the Shocking Truth 233
Nice Clothes, Fast Cars, and Fancy Titles 235
The Neuroscience of Cooperation 236
Analysts Abuse of Authority 237
The Herding Habit 238
Living the Contrarian Lifestyle 239
Advice for Herd Animals and Trend Followers 240
Advice for Investment Committees 241
CHAPTER 18 Charting and Data Mining 243
Artificial Neural Networks 244
Data Mining and Self-deception 245
Finding Patterns in the Noise 246
The Trend and Mean-reversion Biases in Chart Reading 247
Overreliance on Charts 250
The Gambler s Fallacy 253
Irrational Exuberance... Called Too Early 253
The Soochow Gambling Task 255
The Learned Caudate 258
Patterns in Earnings Reports 259
Fooled by Randomness 259
CHAPTER 19 Attention and Memory 261
Terminal Illness 263
Representative Returns 264
Fond Memories 265
Beating the Hindsight Bias 266
Attention Deficit 267
Contents xiii
Keep Your Eye on the Pills 268
What s in a Name? 269
China Prosperity Internet Holdings 270
All that Glitters 272
CHAPTER 20 Age, Sex, and Culture 275
Emotional Memories 276
The Female Brain: Estrogen, Emotion, and Cooperation 277
Financial Planning for Divorcees 278
Male Overconfidence 279
Age 279
The Seattle Longitudinal Study of Adult Development 280
Culture (East and West) 283
Chinese Risk Takers 284
Biases Among Chinese Stock Traders 285
PART IV In Practice 287
CHAPTER 21 Emotion Management 289
Do it for Love, Not Money 290
Money Changes You 291
Emotional Defenses 291
The Pursuit of Happiness 292
Neuroplasticity 293
Chemical Stabilizers 294
Self-discipline 295
Creating a Decision Journal 297
CHAPTER 22 Change Techniques 301
Dealing with Fearful and Overconfident Clients 302
Cognitive-behavioral Therapy and Stress Management 304
Yoga, Meditation, and Lifestyle 306
Simple Stress Reduction 307
Getting Out of a Slump 308
Trading Coaches 309
Flavia Cymbalista 310
DeniseShull 310
Xlv INSIDE THE INVESTOR S BRAIN
Modeling Others 311
Growing Happier 311
Neurofeedback 312
Maintain Learning Goals 314
CHAPTER 23 Behavioral Finance Investing 317
Harvesting Risk Premia 318
Risk Premia and Expectations 319
Value versus Glamour 321
Momentum, Size, and the Optimal Portfolio 322
Buy on the Rumor and Sell on the News 325
Limits to Arbitrage 326
Behavioral Finance Fund Performance 327
Behavioral Investment Products 328
Final Notes 329
Notes 331
Glossary 369
Index 383
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| id | DE-604.BV035824882 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T14:01:03Z |
| institution | BVB |
| isbn | 9780470067376 0470067373 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-018683553 |
| oclc_num | 77573868 |
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| owner | DE-91 DE-BY-TUM DE-11 DE-2070s DE-92 |
| owner_facet | DE-91 DE-BY-TUM DE-11 DE-2070s DE-92 |
| physical | XXI, 392 S. Ill., graph. Darst. |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Wiley |
| record_format | marc |
| series2 | Wiley trading series |
| spellingShingle | Peterson, Richard Lewis 1939- Inside the investor's brain the power of mind over money Psychologie Investments Psychological aspects Wirtschaftspsychologie (DE-588)4066506-9 gnd Investition (DE-588)4027556-5 gnd |
| subject_GND | (DE-588)4066506-9 (DE-588)4027556-5 |
| title | Inside the investor's brain the power of mind over money |
| title_auth | Inside the investor's brain the power of mind over money |
| title_exact_search | Inside the investor's brain the power of mind over money |
| title_full | Inside the investor's brain the power of mind over money Richard L. Peterson |
| title_fullStr | Inside the investor's brain the power of mind over money Richard L. Peterson |
| title_full_unstemmed | Inside the investor's brain the power of mind over money Richard L. Peterson |
| title_short | Inside the investor's brain |
| title_sort | inside the investor s brain the power of mind over money |
| title_sub | the power of mind over money |
| topic | Psychologie Investments Psychological aspects Wirtschaftspsychologie (DE-588)4066506-9 gnd Investition (DE-588)4027556-5 gnd |
| topic_facet | Psychologie Investments Psychological aspects Wirtschaftspsychologie Investition |
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Teilbibliothek Stammgelände
| Signatur: |
0002 PSY 435 2009 A 10242 Lageplan |
|---|---|
| Exemplar 1 | Ausleihbar Am Standort |