Nicht lieferbar
Markets Never Forget (But People Do)
How Your Memory Is Costing You Money--And Why This Time Isn't Different
Why do so many investors make the same mistakes repeatedly--being too bullish or too bearish at just the wrong times? Because they forget. Forgetting pain is an instinct--humans have evolved that way to better cope with the problems of survival. But for the complex and often counterintuitive world of investing, it causes serious errors."This time it's different" are the four most expensive words in the English language (according to investing legend Sir John Templeton). Yet many investors routinely fall into the trap of thinking "now" (whenever "now" is) is different somehow. In Markets Never ...
Why do so many investors make the same mistakes repeatedly--being too bullish or too bearish at just the wrong times? Because they forget. Forgetting pain is an instinct--humans have evolved that way to better cope with the problems of survival. But for the complex and often counterintuitive world of investing, it causes serious errors.
"This time it's different" are the four most expensive words in the English language (according to investing legend Sir John Templeton). Yet many investors routinely fall into the trap of thinking "now" (whenever "now" is) is different somehow. In Markets Never Forget (But People Do): How Your Memory Is Costing You Money--and Why This Time Isn't Different, four-time New York Times bestselling author Ken Fisher shows readers how their memories play (often costly) tricks on them--and how they can combat their faulty memories with just a bit of history.
This isn't to say history repeats itself perfectly. It doesn't--but a recession is a recession. Some are vastly worse than others--but investors have lived through them before. Credit crises aren't new, nor are bear markets--or bull markets. Geopolitical tension is as old as mankind, as is war and even terrorist attacks. Understanding how investors have reacted to similar past events can help guide investors in shaping better forward-looking expectations. The past never predicts the future, but it can reduce guesswork about what's ahead.
In this book, Fisher takes aim at some major market memory mishaps--like the idea stocks have become inherently more volatile or that wildly above- or below-average returns are abnormal. He shows how, early in every recovery, investors don't believe in it--often at a huge cost. And he shows how, in investing, ideology is deadly. Most important, he teaches how you can use history as one powerful tool to help begin reducing your error rate and help begin getting better investing results. Think "this time it's different"? Think again.
From internationally recognized investment expert Ken Fisher comes Markets Never Forget (But People Do), a well-reasoned, logical, data-driven and often entertaining look at the many ways investors' memories fail them. What's more, Fisher provides tools investors can use to begin improving their faulty memories--now.
No matter how big, new and scary something may seem, according to Fisher we've almost always been through something similar before. And if you can remember that, find those other times and learn lessons from them, you can know better how to react--or not react. You can know that it's never as bad, as great or as lasting as your faulty memory makes you think. Just remembering that can make you a better investor. Don't forget. Markets don't.
"This time it's different" are the four most expensive words in the English language (according to investing legend Sir John Templeton). Yet many investors routinely fall into the trap of thinking "now" (whenever "now" is) is different somehow. In Markets Never Forget (But People Do): How Your Memory Is Costing You Money--and Why This Time Isn't Different, four-time New York Times bestselling author Ken Fisher shows readers how their memories play (often costly) tricks on them--and how they can combat their faulty memories with just a bit of history.
This isn't to say history repeats itself perfectly. It doesn't--but a recession is a recession. Some are vastly worse than others--but investors have lived through them before. Credit crises aren't new, nor are bear markets--or bull markets. Geopolitical tension is as old as mankind, as is war and even terrorist attacks. Understanding how investors have reacted to similar past events can help guide investors in shaping better forward-looking expectations. The past never predicts the future, but it can reduce guesswork about what's ahead.
In this book, Fisher takes aim at some major market memory mishaps--like the idea stocks have become inherently more volatile or that wildly above- or below-average returns are abnormal. He shows how, early in every recovery, investors don't believe in it--often at a huge cost. And he shows how, in investing, ideology is deadly. Most important, he teaches how you can use history as one powerful tool to help begin reducing your error rate and help begin getting better investing results. Think "this time it's different"? Think again.
From internationally recognized investment expert Ken Fisher comes Markets Never Forget (But People Do), a well-reasoned, logical, data-driven and often entertaining look at the many ways investors' memories fail them. What's more, Fisher provides tools investors can use to begin improving their faulty memories--now.
No matter how big, new and scary something may seem, according to Fisher we've almost always been through something similar before. And if you can remember that, find those other times and learn lessons from them, you can know better how to react--or not react. You can know that it's never as bad, as great or as lasting as your faulty memory makes you think. Just remembering that can make you a better investor. Don't forget. Markets don't.
