Details

The Indomitable Investor

Why a Few Succeed in the Stock Market When Everyone Else Fails
1. Aufl.

von: Steven M. Sears
12,99 €
Verlag:	Wiley
Format:	EPUB
Veröffentl.:	07.03.2012
ISBN/EAN:	9781118237397
Sprache:	englisch
Anzahl Seiten:	256

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Beschreibungen

Titelbeschreibung

A new approach to investing based on how Wall Street insiders approach the market The Indomitable Investor deconstructs the stock market as the public has come to know it and reconstitutes it from the inside out from the perspective of the fortunate few who dominate Wall Street. By revealing how top investors and traders think and act Steven Sears shows the stock market to be an undulating ocean of money, with seasoned investors reading the waves others cannot. Teaching readers to think about the market in radically different ways, The Indomitable Investor shows how to improve returns—and, just as importantly, avoid losses—with disciplines deployed by people who almost always do exactly the opposite of what Wall Street says to do. Laying bare great fallacies, the book explains that non-professional investors wrongly think the stock market is a place to make money, which is what Wall Street wants them to try to do. The Indomitable Investor says otherwise and shows how Wall Street's best investors have a completely different focus. <ul> <li>Explains the critical ideas and insights of top traders and investors in language anyone can understand and implement</li> <li>Packed with material rarely shared off Wall Street that is used every day by professional investors</li> <li>Introduces the 17 most important words on Wall Street</li> <li>Teaches critical skills, including: How to increase returns by focusing on risk, not potential profits; how to use the stock market's historical patterns to optimize investment decisions; understanding key relationships between stocks and the economy that predict what will happen to stocks and the broader market; how to increase mutual fund returns with an easy adjustment that redirects the bulk of profits to you—not mutual fund companies, and how to analyze information like seasoned investors to move beyond "statement of the obvious" news reports that turn ordinary investors into Dumb Money</li> </ul> Accessible to readers of all backgrounds, including those with a limited understanding of investing, The Indomitable Investor will change how investors view the stock market, Wall Street, and themselves.

Inhaltsverzeichnis

Chapter 1 Risk 1 A Nation of Stock Market Junkies 4 Calm Words for Wild Times 7 Chapter 2 Greed 13 The Hardest Decision 23 The Iron Man 24 Atlas Doesn’t Shrug 27 The Warrior Philosopher 28 Like Monkeys at the Zoo 30 A Context 32 The Danger of Warren Buffett 34 The Value of Errors 35 Chapter 3 Fear 37 The Theory of Contrary Opinion 42 Exile on Wall Street 44 The Media Is the Message 47 Media Misreads Google 49 Paulson’s Gamble 50 Buffett’s Goldman Trade 53 Fading the News 53 Chapter 4 The Anatomy of Information 55 The Doors of Perception 58 Anatomy of Information 60 The Future Is Now 63 Show Business 66 Words Are Weapons 68 Trust, but Verify 70 Chapter 5 Chaos 81 Money Never Sleeps 82 Perversities 82 The Black Swan’s Calling Card 85 Map of the Market 86 Don’t Get Skewed 89 Apathy and Fear Are Your Friend 90 Fear Not Black Swans 91 Is MPT MIA or KIA? 92 800 Years of Crisis 97 Fear Gray Swans 98 Chapter 6 Diogenes’ Lantern 103 Performance Is Relative 106 Death by a Thousand Fees 107 Stockbroker Pay 111 Hidden Fees 116 Beware of New Products 116 An Uncomfortable Conversation 117 A Funny Aside 118 Suitability Requirement 119 Fiduciary Standard 120 Shakespeare’s Rule 121 Appeals to Common Sense 121 Trust but Verify 122 Active versus Passive Fund Management 125 Chapter 7 Cycles 127 The Year in Stocks 128 Mysterious Repetitions 136 Flash Mobs 137 History’s Hiccups 138 The Economy in Slow Motion 139 The Guts of ISM 141 Numerical Nuances 142 Says Who? Says Goldman Sachs 142 Action 148 Chapter 8 Behavior 151 One Brain: Two Minds 152 Maps and Models 154 This Is Your Brain Visualizing Money 156 Compulsive Gambler 158 B. F. Skinner Goes to Wall Street 158 The Casino Culture 160 Your Own Private Stock Market 162 Often Wrong; Never in Doubt 163 Illusion of Memory 164 Safe Havens in the Age of Madoff 165 Illusions 167 Victor 169 An Antidote for Overconfidence 170 Go Slow to Go Fast 172 Think Week 173 Halos and Angels 173 Big Brother Is Studying You 175 Big Bank Is Watching You 177 Ancient Lessons 178 Chapter 9 Watchman, What of the Night? 181 The Next Crash 183 Misperceptions and Illusions 184 Revolving Doors 185 Investor Laureate 186 A Fox in the Henhouse 187 The Tremendous Task 188 Sane Money, Not Mad Money 189 Repetition and Velocity 191 More Education 192 Plain Speaking 192 The Cause of Failure 193 Virtue 194 Ladders 195 A Systematic Change 196 Flash Crash 198 Soft Spots 199 Washington 201 A Global Problem 202 Present at the Creation 204 The Illusion of Regulation 205 Power 208 The Balance of Power 208 Acknowledgments 211 Notes 215 About the Author 225 Index 227 I must create a system, or be enslaved by another man's. —William Blake

Autorenportrait

STEVEN M. SEARS is a Senior Editor and Columnist with Barron’s. He previously reported for Dow Jones Newswires and The Wall Street Journal. He has reported upon most major modern financial events, including the Asian Contagion, the bursting of the Internet Bubble, the Credit Crisis, and Europe’s sovereign debt crisis. He was also part of exchange executive teams that modernized the U.S. options market and introduced electronic trading. He is a member of the Economic Club of New York.

Back cover copy

Praise for The INDOMITABLE INVESTOR “Though he pulls no punches in his personal assessment of Washington and Wall Street, Steve Sears’s blunt and harsh criticism is never merely gratuitous. On the contrary, The Indomitable Investor is a timely call to action for today’s investor. The need for individuals to better understand and take greater control of their financial future has never been more important. The Indomitable Investor lays out the principles that guide successful investment strategies and maps out a disciplined approach that investors can use to navigate the challenges and meet their investment goals.” —William J. Brodsky Chairman and CEO, Chicago Board Options Exchange “Steve Sears provides an easy to understand, unbiased, accurate and, most importantly, truthful assessment of the investing landscape. This is a must-read book … a keep-you-honest dose of sage advice that, if taken, should go a long way toward maintaining a profitable mindset.” —Patrick A. Neal CEO and CIO, TreePoint Capital Management “Steve Sears is one of Wall Street’s keenest observers. His book, The Indomitable Investor, is destined to become a classic. If you only read one book on investing, this is it.” —Meyer “Sandy” Frucher Vice Chairman, NASDAQ OMX