Investment Psychology Explained
Investment Psychology Explained is a back-to-basics handbook on how to beat the market the classic way. It emphasizes the timeless values of hard work, patience, and self-discipline as the magical paths to market success. Reading Investment Psychology Explained will give you a renewed appreciation of the classic trading principles that, through bull and bear markets, have worked time and again. You'll see, with the help of numerous illustrative examples, what goes into making an effective investor, and of how you can work toward achieving that successful profile. Written by one of the most respected independent investment advisors in the world, this book emphasizes that investors have to be more analytical and less impulsive to flourish in today's market.
With this convenient, back-to-basics handbook, you'll learn how to stay one step ahead through the application of the age-old verities - hard work, common sense, patience, and discipline.
Martin Pring draws from the wisdom of many creative investors, including Jesse Livermore, Humphrey Neill, and Bernard Baruch, as well as from his own experience.
Martin Pring shows you how to:
Overcome emotional and psychological impediments that distort decision making
Map out an independent investment plan - and stick to it
Know when to buck herd opinion - and “go contrarian”
Dispense with the myths and delusions that drag down other investors
Resist the fads and so-called expert whose siren call to success can lead to disaster
Exploit fast-breaking news events that rock the market
Deal skillfully with brokers and money managers
Learn and understand the rules that separate the truly great investors and traders from the rest
Table of Contents
Knowing Yourself
There is No Holy Grail
How to Be Objective
Independent Thinking
Pride Goes Before a Loss
Patience is a Profitable Virtue
Staying the Course
The Wall Street Herd
A New Look at Contrary Opinion
When to Go Contrary
How to Profit from Newsbreaks
Dealing with Brokers and Money Managers the Smart Way
Staying One Step Ahead
Nineteen Trading Rules for Greater Profits
Making a Plan and Sticking to It
Classic Trading Rules
Bibliography