More Than You Know: Finding Financial Wisdom in Unconventional Places (Updated and Expanded)

More Than You Know: Finding Financial Wisdom in Unconventional Places (Updated and Expanded)

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by Michael J. Mauboussin
     
 

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Since its first publication, Michael J. Mauboussin's popular guide to wise investing has been translated into eight languages and has been named best business book by BusinessWeek and best economics book by Strategy+Business. Now updated to reflect current research and expanded to include new chapters on investment philosophy, psychology, and strategy

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Overview

Since its first publication, Michael J. Mauboussin's popular guide to wise investing has been translated into eight languages and has been named best business book by BusinessWeek and best economics book by Strategy+Business. Now updated to reflect current research and expanded to include new chapters on investment philosophy, psychology, and strategy and science as they pertain to money management, this volume is more than ever the best chance to know more than the average investor.

Offering invaluable tools to better understand the concepts of choice and risk, More Than You Know is a unique blend of practical advice and sound theory, sampling from a wide variety of sources and disciplines. Mauboussin builds on the ideas of visionaries, including Warren Buffett and E. O. Wilson, but also finds wisdom in a broad and deep range of fields, such as casino gambling, horse racing, psychology, and evolutionary biology. He analyzes the strategies of poker experts David Sklansky and Puggy Pearson and pinpoints parallels between mate selection in guppies and stock market booms. For this edition, Mauboussin includes fresh thoughts on human cognition, management assessment, game theory, the role of intuition, and the mechanisms driving the market's mood swings, and explains what these topics tell us about smart investing.

More Than You Know is written with the professional investor in mind but extends far beyond the world of economics and finance. Mauboussin groups his essays into four parts-Investment Philosophy, Psychology of Investing, Innovation and Competitive Strategy, and Science and Complexity Theory-and he includes substantial references for further reading. A true eye-opener, More Than You Know shows how a multidisciplinary approach that pays close attention to process and the psychology of decision making offers the best chance for long-term financial results.

Columbia University Press

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Editorial Reviews

Wall Street Journal
Refreshingly intelligent... engagingly shows how a multidisciplinary perspective can deepen your sense of how financial markets work.

Los Angeles Times
Few readers could come away from this book without being stimulated and intrigued.Los Angeles Times

The Washington Post
Wonderfully thoughtful and insightful... sophisticated and accessible, intriguing and entertaining.The Washington Post

BusinessWeek
A fun read that draws insights from a wide range of scholarly disciplines.

Bloomberg Magazine
Anyone can appreciate its flashes of Oliver Sacks-like insight.

Globe & Mail
An insightful book on investing and investment management.

— Tom Bradley

Steven Pinker
More Than You Know is a lucid explanation of the exciting new developments in behavioral economics and cognitive science on the rationality and irrationality of people's economic choices. Michael J. Mauboussin has an excellent understanding of the science of what it does and does not imply for investing, purchasing, and other real-life decisions. This book is essential reading for anyone interested in the science of human nature and its relevance to the world of finance.

Clayton Christensen
A conceptually brilliant, highly practical book that every investor and analyst needs to read-several times. Mauboussin has no peers; he understands how value is created better than anyone, anywhere.

Robert Sapolsky
Mauboussin has found great insights about the science of human behavior in unconventional places and has written superbly about it.

Bill Miller
A fascinating compendium-like a Ph.D. in investment wisdom. If you want to understand how the world's best investors think, you must read this book.

Globe & Mail - Tom Bradley
An insightful book on investing and investment management.

Product Details

ISBN-13:
9780231513470
Publisher:
Columbia University Press
Publication date:
11/23/2007
Series:
Columbia Business School Publishing
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
320
File size:
2 MB

Meet the Author

Michael J. Mauboussin is chief investment strategist at Legg Mason Capital Management and an adjunct professor at Columbia Business School. He is the author (with Alfred Rappaport) of Expectations Investing: Reading Stock Prices for Better Returns.

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