The Psychology of Money - An Investment Manager\'s Guide to Beating the Market

6 THE INVESTOR Each of these investors is widely accepted as a master. The question is, what do they do differently? What habits ...

Investment Masters 7 IQ and creative genius are clearly different. Many brilliant in- vestors fail, whereas some with ordinary I ...

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The Eight Great Traits 9 9 CHAPTER 2 The Eight Great Traits Habit is habit, and not to be flung out of the window by any man, bu ...

10 THE INVESTOR outside of investing as well. Soros, for example, was a philosophy major and is deeply involved in world politic ...

The Eight Great Traits 11 anchoring, and the like. Their point is that the economic assump- tion—that humans are rational decisi ...

12 THE INVESTOR Returning after a few moments: Arnie: “How would you like to buy some deep mining insur- ance? Me: “What is that ...

The Eight Great Traits 13 fat one; don’t flail away at all the wild, crazy noise in the market. That is discipline. Hence his su ...

14 THE INVESTOR CREATIVITY: SEEING THE BIG PICTURE AND USING METAPHORS A recent issue of Forbes magazine contained 12 ads for ...

The Eight Great Traits 15 these masters to take their ideas lightly, to change their thinking when appropriate. They can step ba ...

16 THE INVESTOR single day.) He calls his system a flexible theoretical framework that can accommodate any global economic devel ...

Secrets of the Masters 17 17 CHAPTER CHAPTER 3 Secrets of the Masters Complexity I get the facts, I study them patiently, I appl ...

18 THE INVESTOR spectrum, they tend to bring together the entire range of human possibilities within themselves. These qualities ...

Secrets of the Masters 19 observation and creativity—show up in investing. When I ask in- vestors, “What do you like in the mark ...

20 THE INVESTOR superior results. Sherlock Holmes said, “My peculiar art of detec- tion results from the interplay of reality an ...

Secrets of the Masters 21 sense only in the light of complexity. When viewed this way, they are showing that they can dribble wi ...

22 THE INVESTOR frequently corrects coworkers on details in their areas of exper- tise. (I didn’t ask him if he has been punched ...

Self-Diagnosis 23 23 CHAPTER CHAPTER 4 Self-Diagnosis It is not paradox to say that in our most theoretical moods we may be near ...

24 THE INVESTOR EXTRAVERT (BREADTH)/INTROVERT (DEPTH): THE ENERGY SOURCE The first polarity deals with a person’s energy source. ...

Self-Diagnosis 25 is Woody Allen. In the few interviews that Allen grants, he is low- key and pensive. He thinks for a moment be ...