What Investors Really Want: Know What Drives Investor Behavior and Make Smarter

Description: What Investors Really Want: Know What Drives Investor Behavior and Make Smarter Financial Decisions by Meir Statman A pioneer in the field of behavioral finance presents an investment guide based on what really drives investors FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description WHAT INVESTORS WANTPraise for What Investors Really Want "We all share behavioral traits that are major roadblocks to intelligent financial decisions. Bottom line: if you really want to achieve investment success, understand yourself and eliminate or minimize these traits. This book will help you do exactly that." -- John C. Bogle, Founder, Vanguard Funds "What Investors Really Want enables us to "post mortem" the financial decisions of ourselves and others. The book is extremely valuable for theory, as a survey of how the human animal makes financial decisions, and for the practice of making smarter financial decisions."--Harry M. Markowitz, Rady School of Management, University of California, San Diego; winner, Nobel Memorial Prize in Economic Sciences"In investing, we are often our own worst enemies. Meir Statman, an expert in behavioral finance, explains the common errors to which we are prone and helps us make smarter decisions about our investments." --Burton Malkiel, bestelling author of A Random Walk Down Wall Street"A masterly review of the many pitfalls and challenges facing market participants today, written by one of the founders of the field of behavioral finance. This volume should be required reading for all investors and their financial advisors!"--Andrew W. Lo, Harris & Harris Group Professor of Finance at the MIT Sloan School of Management"What a gem! Meir Statman is a wise and engaging teacher, and after reading his book, I will be a wiser, better, less anxious investor."--Don Ezra, co-chair, global consulting, Russell Investments, and co-author of Pension Fund Excellence and The Retirement Plan Solution"The first step to good investing is always the same, know thyself. If you read this book and dont recognize a lot of yourself in it, youre just not paying attention!"--Cliff Asness, founding and managing principal, AQR Capital Management LLC"Meir Statman, a leading light of behavioral finance, shines the bright light of modern neuropsychology on all the mental demons that conspire to make you poor. Hell make you laugh, hell make you cry and, best of all, hell improve your bottom line."--William Bernstein, bestselling author of The Intelligent Asset AllocatorCombining the new field of behavioral finance with the real world of investing, this engaging new book explores the mind-sets and motivations behind the major money decisions--and most common mistakes—that investors make every day. With insiders insight, and a storytellers voice, behavioral finance expert Meir Statman reveals What Investors Really Want . . .Investors want bigger profits with lower risks. How our desire for free investment lunches can leave us with nolunchesInvestors want to play and win. How our desire to win the investment game can turn us into losersInvestors want to save money for tomorrow and spend it today. How we struggle between spending too much andspending too littleInvestors want status, respect, and social responsibility. How to know whats really important in lifeInvestors do not want to face financial losses. How to recognize and confront the regret that accompanies lossesYoull also learn how age, gender, genetics, and personality affect your investment decisions and how people of different countries and cultures think about risks and returns, poverty, and wealth. Youll discoverhow behavioral finance provides key insights into the behavior that has rocked investment markets in recent years. And, most important, youll learn to recognize the desires, thoughts, and emotions that drive your own investment decisions--so you can drive better on your road to investment success. Notes Subtitled Discover What Drives Investor Behavior & Make Smarter Financial Decisions. Author Biography Meir Statman is the Glenn Klimek Professor of Finance at the Leavey School of Business, Santa Clara University, and Visiting Professor at Tilburg University in the Netherlands. His research on behavioral finance has been supported by the National Science Foundation, CFA Institute, and Investment Management Consultants Association (IMCA) and has been published in the Journal of Finance, Financial Analysts Journal, Journal of Portfolio Management, and many other publications. Arecipient of two IMCA Journal Awards, the Moskowitz Prize for Best Paper on Socially Responsible Investing, and three Graham and Dodd Awards, Statman consults with manyinvestment companies and presents his work to academics and professionals in the U.S. and abroad. Table of Contents Chapter One: We Want High Returns with No Risk; Chapter Two: We Have Thoughts, Some Erroneous; Chapter Three: We Have Emotions, Some Misleading; Chapter Four: We Want to Play, and Win; Chapter Five: We Join Herds and Inflate Bubbles; Chapter Six: We Want Self Control and Mental Accounts; Chapter Seven: We Want to Save for Tomorrow and Spend it Today;Chapter Eight: We Want Hope for Riches and Freedom from the Fear of Poverty;Chapter Nine: We Have Similar Wants and Different Ones; Chapter Ten: We Want to Face No Losses;Chapter Eleven: We Want to Pay No Taxes;Chapter Twelve: We Want High Status and Proper Respect;Chapter Thirteen: We Want to Stay True to Our Values; Chapter Fourteen: We Want Fairness; Prizes Commended for Axiom Business Book Awards (Personal Finance) 2011 Description for Bookstore A pioneer in the red-hot field of behavioral finance known for his prize-winning research on the interplay of markets and human psychology, writes an investment guide based on the principles of behaviorial finance, namely, the deep emotions and mistakes that really drive investors, a topic of great interest to investors and financial advisors alike.About the Book Standard finance books teach how to invest with the right combinations of risk and returns. ButWhat Investors Wantasks, why are we putting money in our portfolios? This book, using anecdotes and academic research, will answer this question with everything from hope to security to status to fear. For example, why do people furiously trade their way to the poor house when buy-and-hold makes more sense? The exhilaration that trading brings to its enthusiasts and the hope for riches that trading holds.The new field of behavioral finance is discovering: People invest for emotional gratification. We want our investments to provide us with a sense of: -Status: can come from hedge funds, Bernie Madoff-the lure of an exclusive club -Community: think of the cult of Berkshire Hathaway. Membership feels good! -Moral Virtue: socially responsible investing also makes people feel good Investors make standard mistakes, also called "cognitive errors", when investing. A few examples: -Hindsight: bias that misleads us into thinking something was clear beforehand -Framing: not using the right frame of reference: ie. framing the trading game as tennis played against a practice wall when it is really playing against a tennis pro -Mental Accounting: placing money in distinctly labeled mental accountsStatmans message is to know thyself and understand the hidden reasons that might really explain why you buy stocks, bonds, ETFs and other financial products. What Do Investors Want? is about putting normal, flesh-and-blood people back into finance, instead of the "rational" people of standard or Efficient Markets finance and the "irrational" people of most behavioral finance.Key Selling Features Would fill an obvious hole on the Finance list with a top behavioral finance author Very timely, given recent turmoil in market, when emotions, not reason, reigned. Author expects blue chip endorsements from Jack Bogle, Harry Markowitz, Robert Shiller, Jason Zweig, William Bernstein, Jonathan Clements and Burton Malkiel Strong special sales potential: see attached speaking engagements and client list, with many financial institutions and financial advisors Author has strong media platform: just published big story in WSJ-see file in Ed Board folder-and has been on TV and in leading publications Author has strong academic platform as behaviorial finance economist and has received many academic awards and is on the boards of several academic finance journals-see bio belowMarket / Audience Financial advisors working with individual investors are likely to buy the book not only for themselves but also for their clients.Socially responsible investors will also lhave special affinity for the book.Author Profile Meir Statmanis the Glenn Klimek Professor of Finance at the Leavey School of Business, Santa Clara University and Visiting Professor at Tilburg University in the Netherlands. His research focuses on behavioral finance. He attempts to understand how investors and managers make financial decisions and how these decisions are reflected in financial markets.The questions he addresses include: What are the cognitive errors and emotions that influence investors? What are investor aspirations? How can financial advisors and plan sponsors help investors? What is the nature of risk and regret? How do investors form portfolios? How successful are tactical asset allocation and strategic asset allocation? What determines stock returns? What are the effects Details ISBN0071741658 Author Meir Statman Pages 304 Publisher McGraw-Hill Education - Europe Year 2010 ISBN-10 0071741658 ISBN-13 9780071741651 Format Hardcover Imprint McGraw-Hill Professional Country of Publication United States DEWEY 332.6 Short Title WHAT INVESTORS REALLY WANT Language English Media Book Subtitle Know What Drives Investor Behavior and Make Smarter Financial Decisions Publication Date 2010-12-16 AU Release Date 2010-12-16 NZ Release Date 2010-12-16 US Release Date 2010-12-16 UK Release Date 2010-12-16 Audience Professional & Vocational Illustrations 0 Illustrations We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:34194959;

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