Details

Beat the Crowd


Beat the Crowd

How You Can Out-Invest the Herd by Thinking Differently
Fisher Investments Press 1. Aufl.

von: Kenneth L. Fisher, Elisabeth Dellinger

20,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 13.03.2015
ISBN/EAN: 9781118973066
Sprache: englisch
Anzahl Seiten: 320

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<p><b>Train your brain to be a real contrarian and outsmart the crowd</b></p> <p><i>Beat the Crowd </i>is the <i>real</i> contrarian’s guide to investing, with comprehensive explanations of how a true contrarian investor thinks and acts – and why it works more often than not. Bestselling author Ken Fisher breaks down the myths and cuts through the noise to present a clear, unvarnished view of timeless market realities, and the ways in which a contrarian approach to investing will outsmart the herd. In true Ken Fisher style, the book explains why the crowd often goes astray—and how you can stay on track.</p> <p>Contrarians understand how headlines really affect the market and which noise and fads they should tune out. <i>Beat the Crowd</i> is a primer to the contrarian strategy, teaching readers simple tricks to think differently and get it right more often than not.</p> <ul> <li>Discover the limits of forecasting and how far ahead you should look</li> <li>Learn why political controversy matter less the louder it gets</li> <li>Resurrect long-forgotten, timeless tricks and truths in markets</li> <li>Find out how the contrarian approach makes you right more often than wrong</li> </ul> <p>A successful investment strategy requires information, preparation, a little bit of brainpower, and a larger bit of luck. Pursuit of the mythical perfect strategy frequently lands folks in a cacophony of talking heads and twenty-four hour noise, but <i>Beat the Crowd</i> cuts through the mental clutter and collects the pristine pieces of actual value into a tactical approach based on going against the grain.</p>
<p>Preface ix</p> <p><b>Chapter 1: Your Brain?]Training Guide 1</b></p> <p>Wall Street’s Contrarian Contradiction 4</p> <p>The Curmudgeon’s Conundrum 5</p> <p>There Is Always a But 6</p> <p>Why Most Investors Are Mostly Wrong Most of the Time 8</p> <p>The First Rule of True Contrarianism 12</p> <p>The All-Seeing Market 13</p> <p>Different, Not Opposite 14</p> <p>The Right Frame of Mind 15</p> <p>Check Your Ego 16</p> <p><b>Chapter 2: For Whom the Bell Curve Tolls 19</b></p> <p>Wall Street’s Useless/Useful Fascination With Calendars 23</p> <p>Professional Groupthink 25</p> <p>How the Contrarian Uses</p> <p>Professional Forecasts 26</p> <p>Even the Best Fall Sometimes . . . 30</p> <p>How to Beat the Street 39</p> <p><b>Chapter 3: Dracula and the Four Horsemen of the Media Apocalypse 47</b></p> <p>The Media’s Flawed Financial Eyesight 50</p> <p>Dracula Around the Corner 53</p> <p>Looking for Growth in All the Wrong Places 59</p> <p>The Magic Indicator 62</p> <p>War—What Is It Good For? 71</p> <p>Don’t Be a Cow, Be a Contrarian 77</p> <p><b>Chapter 4: Not in the Next 30 Months 81</b></p> <p>Baby Boomer Bomb? 85</p> <p>What About Social Security and Medicare? 86</p> <p>But What if the “Lost Generation”Stays Lost? 90</p> <p>What About Debt? 93</p> <p>But What if Debt Causes Runaway Inflation? 98</p> <p>But What if America Stops Innovating? 98</p> <p>But What About Global Warming? 100</p> <p>What About Income Inequality? 102</p> <p>What if the Dollar Loses Its Place as the World’s Reserve Currency? 105</p> <p>What the Markets Know 108</p> <p><b>Chapter 5: Take a Safari With Jack Lemmon and Walter Matthau 111</b></p> <p>How the Elephant Got Its Tusks 114</p> <p>Dumbo, Gross Margins and Other High?]Flying Elephants 116</p> <p>When Good News Dresses Up as Bad News 118</p> <p>The Yield Curve Curveball 121</p> <p>When Elephants Attack 127</p> <p>A Brief History of Tragedy 127</p> <p>When Textbooks Lie 129</p> <p>It Can’t Be an Elephant If … 134</p> <p><b>Chapter 6: The Chapter You’ll Love to Hate 137</b></p> <p>Step 1: Ditch Your Biases 140</p> <p>My Guy Is Best, Your Guy Is Worst and Other Unhelpful Opinions 141</p> <p>A Magical Elephant Named Gridlock 145</p> <p>(Not) Just a Bill Sittin’ on Capitol Hill 150</p> <p>That Which Is Seen and That Which Is Unseen 156</p> <p>What’s Worse Than a Politician? 158</p> <p>Why the Government Already Made the Next Crisis Worse 162</p> <p><b>Chapter 7: Put Those Textbooks Away 169</b></p> <p>Don’t Toss Your Textbooks—But Know Their Limitations! 172</p> <p>The First Commandment: P/Es Aren’t Predictive 175</p> <p>The CAPEd Crusader Is No Superhero 178</p> <p>Small Beats All? 181</p> <p>Fancy Formulas and Other Academic Kryptonite 184</p> <p>Theory Isn’t Reality 189</p> <p>If Not School, Where? 193</p> <p><b>Chapter 8: Throw Away This Book! 197</b></p> <p>Miley Cyrus, Justin Bieber and Pop Star Economists 200</p> <p>Classics Are Classic for a Reason 203</p> <p>Philosophy and Econ 101 209</p> <p>How to Learn From the Legends 216</p> <p>Those Who Forget History . . . 225</p> <p>Classics in the Twenty?]First Century 230</p> <p><b>Chapter 9: When Miley Cyrus Meets Ben Graham: Misadventures in Behavioral Finance 235</b></p> <p>Where It All Began 238</p> <p>The Beginnings of Behavioral Finance’s Drift 240</p> <p>When Academics Met Capitalism and Marketing 240</p> <p>Behavioral Finance and Tactical Positioning 242</p> <p>Recency Bias and Sentiment 251</p> <p>How to Gain a Tactical Advantage With Behavioral Finance 254</p> <p>A Section for Stock Pickers 259</p> <p>Know When to Say When 266</p> <p>Getting Back to Self?]Control 268</p> <p><b>Chapter 10: The Negative Myopic Media 277</b></p> <p>How to Use the News 281</p> <p>What the Media Always Misses 285</p> <p>In Technology (and Capitalism) We Trust 289</p> <p>Parting Thoughts 290</p> <p>Index 293</p>
<p><i>“..a characteristically lively read….a good holiday read for any investor who suspects they may be stuck in their ways and in need of new insights” </i>(Money Observer, July 2015)</p>
<p><B>KEN FISHER</B> is best known for his prestigious “Portfolio Strategy” column in <i>Forbes</i> magazine, where his over 30-year tenure of high-profile calls makes him the third longest- running columnist in <i>Forbes</i>’s 90-plus-year history. He is the founder, Chairman and CEO of Fisher Investments, an independent global money management firm managing over $60 billion for individuals and institutions globally. Fisher is ranked #240 on the 2014 <i>Forbes</i> 400 list of richest Americans and #653 on the 2014 <i>Forbes</i> Global Billionaire list. In 2010, <i>Investment Advisor</i> magazine named him among the 30 most influential individuals of the last three decades. Fisher has authored numerous professional and scholarly articles, including the award- winning “Cognitive Biases in Market Forecasting.” He has also written ten previous books, including national bestsellers <i>The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, Debunkery</i> and <i>Markets Never Forget (But People Do)</i>, all published by Wiley. Fisher has been published, interviewed and/or written about in many major American, British and German finance or business periodicals. He has a weekly column in <i>Focus Money</i>, Germany’s leading weekly finance and business magazine.</p> <p><B>ELISABETH DELLINGER</B> is an analyst and staff writer at Fisher Investments and has been with the firm for over a decade. She is a senior editor of MarketMinder.com and a contributor on Equities.com as well as other financial news websites.
<p>Mainstream investors are wrong more often than right. Most folks intuitively know this, and statistics and studies back it up. How can you buck the trend and be right more often than wrong?</p> <p>Many believe doing the opposite of everyone else is the key to avoiding the herd’s faulty investment decisions. Wall Street defines contrarian investing as betting the opposite of the crowd. Problem is, stocks often don’t do the opposite of what most folks expect! Those who bet on the opposite, thinking it makes them a contrarian, behave as crowd-like as the crowd they try to game! If the herd thinks stocks will rise 10%, the anti-herders bet they’ll fall—but markets could also skyrocket or zigzag sideways. In <i>Beat the Crowd</i>, bestselling author Ken Fisher shows you how to look beyond both crowds and find real contrarian opportunities that pay. <p>Being a contrarian simply means thinking independently. Not getting caught up in media hype and endless debate over whether Thing X is good or bad for stocks. Looking for things everyone misses. Thinking differently than the crowd, but not necessarily opposite! <i>Beat the Crowd</i> helps you filter the noise, test rules of thumb, shatter media myths and avoid common pitfalls. <p>If you’re tired of media chatter and getting burned by consensus wisdom, this book is for you. With his signature style, Ken dispels common viewpoints and knocks age-old “rules” on their head. You’ll learn how to separate what’s important from what isn’t, think outside the investing canon, find the “elephant in the room” and out-invest the herd.

Diese Produkte könnten Sie auch interessieren:

Agile Project Management
Agile Project Management
von: Project Management Journal
EPUB ebook
23,99 €
Make Change Work
Make Change Work
von: Randy Pennington
PDF ebook
14,99 €
Nonprofit Law Made Easy
Nonprofit Law Made Easy
von: Bruce R. Hopkins
EPUB ebook
53,99 €