The Hour Between Dog and Wolf - Coates, John
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A successful Wall Street trader turned neuroscientist reveals how risk taking and stress transform our body chemistry Before he became a world-class scientist, John Coates ran a derivatives trading desk in New York City. He used the expression "the hour between dog and wolf” to refer to the moment of Jekyll-and-Hyde transformation traders passed through when under pressure. They became cocky and irrationally risk-seeking when on a winning streak, tentative and risk-averse when cowering from losses. In a series of groundbreaking experiments, Coates identified a feedback loop between…mehr

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Produktbeschreibung
A successful Wall Street trader turned neuroscientist reveals how risk taking and stress transform our body chemistry Before he became a world-class scientist, John Coates ran a derivatives trading desk in New York City. He used the expression "the hour between dog and wolf” to refer to the moment of Jekyll-and-Hyde transformation traders passed through when under pressure. They became cocky and irrationally risk-seeking when on a winning streak, tentative and risk-averse when cowering from losses. In a series of groundbreaking experiments, Coates identified a feedback loop between testosterone and success—one that can cloud men's judgment in high-pressure decision-making. Coates demonstrates how our bodies produce the fabled gut feelings we so often rely on, how stress in the workplace can impair our judgment and even damage our health, and how sports science can help us toughen our bodies against the ravages of stress. Revealing the biology behind bubbles and crashes, The Hour Between Dog and Wolf sheds new and surprising light on issues that affect us all.
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Autorenporträt
John Coates, Research Fellow in neuroscience and finance at the University of Cambridge, previously traded derivatives for Goldman Sachs, and ran a trading desk for Deutsche Bank. He now researches the biology of risk taking and stress. His book, The Hour Between Dog and Wolf, was shortlisted for the FT-Goldman Business Book of the Year, and the UK Wellcome Trust Science Prize. It was also chosen as book of the month by the British Army. His research on risk taking has attracted interest from business, medicine, and the military, as well as elite sports teams.
Rezensionen
'This brilliant book shows how human biology contributes to the alternating cycles of irrational exuberance and pessimism that destabilise banks and the global economy - and how the system could be calmed down by applying biological principles ... Should be top of the summer reading list for Jamie Dimon, chief executive of JPMorgan, and anyone else wondering why traders so often get banks into trouble' Financial Times

'This stunning book... should be compulsory reading for anyone concerned about the behaviour of those involved in the lying and manipulation of those involved in the lying and manipulation of successive banking scandals' Mail on Sunday

'If Coates is right- the evidence he presents is compelling- then the financial; crises that so frequently plague capitalism find their roots in human biology' New Scientist Magazine

'The picture of humans as rational economic machines has gone down the tubes. This book looks at the biology of why Homo economicus is a myth, and no one is better positioned to write this than Coates - he is a neuroscientist and an economist and an ex-Wall Street trader and a spectacular writer. A superb book' Robert Sapolsky, Professor of Neurology, Stanford University, and author of Why Zebras Don't Get Ulcers

'A terrific read - better than any amount of economic analysis because it explains what lies at the root of economic disaster - those biological drivers that cause sane and clever people to make catastrophic decisions. Every banker should be made to read it!' Rita Carter, author of Mapping the Mind

'It makes intuitive sense that biological responses inform the mood of the markets. This book puts flesh on that idea' Economist
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