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The Physiology of Emotional and Irrational Investing : Causes and Solutions

Author: Elesa Zehndorfer
Publisher: London : Taylor and Francis, 2018.
Edition/Format:   eBook : Document : English : First editionView all editions and formats
Summary:
"The financial markets are a rollercoaster and this book follows the same theme the seduction of money, our ruinous, heady and high stakes pursuit of it, the incredible fortunes and calamitous losses that have been made in its name, the new and significant threat of retail (armchair) investors wanting their piece of the pie, and the perpetual and foolish mismatch that has always existed and will always exist between  Read more...
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Genre/Form: Electronic books
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Elesa Zehndorfer
ISBN: 9781315269368 1315269368
OCLC Number: 1019663974
Description: 1 online resource : text file, PDF
Contents: Cover; Title; Copyright; Dedication; Contents; List of figures; Acknowledgements; 1 Introduction; Working out Wall Street: taming animal spirits; Working out Wall Street: structure of the book; Brief introductions; A brief guide to trading; A brief guide to the brain; A brief guide to investor emotions; Homo biologicus; Predicting market sentiment; Lunch is for wimps; Allostatic load; Trader physiology: key takeaways; Special feature: money, seduction, profit and panic; Special feature: the modern James Bond; 2 Money â#x80;#x93; a love story; Money â#x80;#x93; a love story; The seduction of money. Money: the â#x80;#x98;desire of desireâ#x80;#x99;Addicted to trading?; â#x80;#x98;If youâ#x80;#x99;re in trouble, doubleâ#x80;#x99;; Trading high; Thrill junkies or risk takers?; Animal spirits; The winner effect; House money effect; Androgenic priming; The anticipatory effect/challenge effect; The framing effect; The charisma/gatekeeper effect; Anchoring and cognitive dissonance; Bias; Representativeness and availability heuristic; Over-optimism; Belief perseverance; Herding and cognitive dissonance; Excitation transfer; Churning and overtrading; Hot money; A golden age of ignorance?; A glitch in the matrix. From Wall Street to WashingtonIs behavioural finance horseshit?; Trader physiology: key takeaways; Special feature: â#x80;#x98;the common denominator for fraud is opportunityâ#x80;#x99;; Special feature: breaking news; 3 Trading long or short on stress?; Testosterone: the alpha hormone; Alpha fraudsters and susceptible followers; Big men, big lies; Testosterone: the face of fraud?; The warrior gene; Nature or nurture?; The dangers of dopamine; Hardwired for success?; Known unknowns; Early warning systems; The (often) uninformed retail investor: exploding ETFs; From active to passive; ETFs vs. human nature. A pressure to conformHigher earners ... higher pressure?; Stocks and suicides; Embracing hedonism; Weakened resistance; â#x80;#x98;I have to race the raceâ#x80;#x99;; Addicted to stress; High stress, low control; Workaholics and adrenaline junkies; Trader physiology: key takeaways; Special feature: hazing â#x80;#x93; from sports to stocks; Special feature: lunch isnâ#x80;#x99;t for wimps; 4 Taming animal spirits; Nature vs. the markets; Circannual hormonal fluctuations; Loans and lunar cycles; Trader physiology: key optimisation strategies; #1 Traders and investors: born to run. #2 Anabolic arbitrage: lift heavy to trade smart#3 Working out makes you smarter; #4 Hedge your exposure to stress and go long on sleep; #5 Hungry for success? Eat right to trade and invest better; #6 Use music as a performance tool; #7 Harness the power of nature; #8 We are hardwired to herd; #9 Embrace hedonism; #10 Willpower is finite; use it wisely; Trader physiology: key takeaways; Special feature: maturity, mindfulness and the management of exuberance; Special feature: anabolic arbitrage; Glossary; References; Index.
Responsibility: Elesa Zehndorfer.

Abstract:

"The financial markets are a rollercoaster and this book follows the same theme the seduction of money, our ruinous, heady and high stakes pursuit of it, the incredible fortunes and calamitous losses that have been made in its name, the new and significant threat of retail (armchair) investors wanting their piece of the pie, and the perpetual and foolish mismatch that has always existed and will always exist between our evolutionary programming and the design of the financial markets.?The dominant theme that runs throughout the book ('Working out Wall Street') is actually a play on words, and relates both to the need to work out why Wall Street traders act so irrationally (e.g. using behavioural finance and evolutionary design to explain herding and panic selling), and the need to use physiological and sport science-related approaches to explain why working out (i.e. adopting exercise and diet-related practices usually applied to athletes) can significantly counter these behaviours. The phrase 'animal spirits' utilised in the concluding chapter title ('Taming Animal Spirits') refers to the seminal work of John Maynard Keynes in his 1936 classic work The General Theory of Employment, Interest and Money and the idea that human emotions-animal spirits- remain a significant driver in (irrational and emotional) investing. The rationale for this book is clear; behavioural finance and neurofinance have opened the floodgates in terms of recognising the role of emotional investing in cyclical boom-and-bust scenarios but what is still missing is an answer to the question So what do we do about it? This book seeks, in as compelling and entertaining a fashion as possible, to provide that answer."--Provided by publisher.

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