Profits without Panic - Jonathan Myers *New* £5

Profits without Panic: Investment Psychology for Personal Wealth (Hardcover) by Jonathan Myers
• ISBN-10: 1857882172
• ISBN-13: 978-1857882179
• Condition: New

Despite desperate attempts by brokers and other financial institutions to pretend otherwise, investing is rarely a purely technical affair. Even if we were technically brilliant, most of us would make systematic errors because of our own internal biases or the because of the way we are influenced by outside sources.
The idea that playing the markets is as much about psychology as analytical finance is hardly new. But the idea that we can become successful investors by carefully scrutinising our own psychology and altering our investment behaviour accordingly, is still very much in its infancy. Jonathan Myers, himself a psychologist and private investor, calls this approach "sychonomics". This neologistic discipline, according to Myers: "Emphasises the relationship between investors' unique, internal characteristics--the internal markets inside their heads--and the pressures and reinforcing effects of the external financial markets." With this analytical tool Myers offers both experienced and novice investors a way to take a more consistently profitable approach to their market dealings. With tests and personality inventories he allows you to identify what sort of investor you are and how you should play to your strengths while not allowing your areas of weakness or vulnerability to overwhelm you.
This is a fascinating, well-written book, full of detailed insight and original thought. It would be a mistake to adopt its teachings lock stock and barrel, if only because, as the book says, you need to develop a style that is right for you. Professional investors may regard it as a little amateurish. There are no graphs, no charts, no tables, non of the usual paraphernalia of literary investment advice. On the other hand everyone can do with greater insight into themselves and "masters of the universe" are not generally noted for their high degree of self-knowledge. It will certainly make amateur investors a little more professional. --Alex Benady

Product Description
Drawing on behavioural psychology, finance and economics to show how susceptibility to influence and hype can support or demolish a rational financial outlook, this text offers a blueprint for successful investment.

• Product Dimensions: 22.9 x 15.2 x 2.5 cm
• Hardcover: 312 pages
• Publisher: Nicholas Brealey Publishing (April 1999)
• Language English

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