The Psychology of Money: An Investment Manager's Guide to Beating the Market

Overview

In a diverse investing climate, investors are always searching forthe winning strategy. And with today’s volatile markets andincreasingly savvy individual investors and clients, there isexceptional pressure on professional money managers to be morecreative than ever before. Unfortunately, despite the wealth ofinformation on techniques and strategies, there has been littleinnovative guidance for finance professionals—until now.

In The Psychology of Money, financial analyst Jim ...

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The Psychology of Money: An Investment Manager's Guide to Beating the Market

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Overview

In a diverse investing climate, investors are always searching forthe winning strategy. And with today’s volatile markets andincreasingly savvy individual investors and clients, there isexceptional pressure on professional money managers to be morecreative than ever before. Unfortunately, despite the wealth ofinformation on techniques and strategies, there has been littleinnovative guidance for finance professionals—until now.

In The Psychology of Money, financial analyst Jim Wareapproaches this crucial topic from a new angle, drawing on both thetools offered by Jungian psychology and his own substantialbusiness experience to present an alternative to trendystrategizing. This eye-opening book reveals how determiningone’s "investment personality type" can provide a fullerunderstanding of how to best approach and react to the intricaciesof the market–and, ultimately, profit from them.

Using the Myers-Briggs Typology, a psychological test based onJungian theory, Ware explains the basic investment personalitytypes and how to use them to identify optimum investing styles. Healso provides an intriguing and illuminating examination of thetraits of master investors. Professionals will not only learn whattheir own style should be but understand the value of combiningintuition with logic, and of creative collaboration among variouspersonality types to earn the highest returns for theirclients.

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Editorial Reviews

From the Publisher
"The Psychology of Money is a well-written and entertaining bookthat challenges money managers and individual investors to rethinktheir view of the investment decision-making process."(FinancialAnalysts Journal)

"This book should be read by everyone!" (Mimi Lord, MorningstarSenior Editor)

Booknews
Combining business expertise with Jungian psychology, a financial analyst bases his stock market strategy on the Myers-Briggs Typology to profit from one's self-assessed investment personality type. Ware discusses the psychological traits of masters, investment team collaborative techniques, tools for enhancing creativity, and intuitive whole-brain investing. References are woven into the text. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9780471390749
  • Publisher: Wiley
  • Publication date: 1/1/2001
  • Series: Finance Series
  • Edition number: 1
  • Pages: 272
  • Product dimensions: 6.14 (w) x 9.21 (h) x 0.69 (d)

Meet the Author

JIM WARE is a chartered financial analyst who has been a research analyst and portfolio manager for Allstate Insurance Company. He has also delivered speeches on the connection between creativity and business for audiences around the world, including the Association for Investment Management and Research. A dynamic speaker, he incorporates his knowledge of Jungian psychology into his substantial business background. He has a degree in philosophy and an MBA in finance from the University of Chicago.

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Table of Contents

PART ONE The Investor: Psychological Traits of the Masters

CHAPTER 1 Investment Masters: The Quintet 3

CHAPTER 2 The Eight Great Traits 9

1. Breadth: Taking in Information 9

2. Observation: Retaining Details 10

3. Objectivity: Thinking Clearly 10

4. Discipline: Being Consistent and Organized 12

5. Depth: Thinking in Focus and Independently 13

6. Creativity: Seeing the Big Picture and Using Metaphors 14

7. Passion: Maintaining Deep Devotion to the Subject 15

8. Flexibility: Being Open to Change, Going with the Flow 15

CHAPTER 3 Secrets of the Masters: Complexity 17

CHAPTER 4 Self-Diagnosis 23

Extravert (Breadth)/Introvert (Depth): The Energy Source 24

Sensing (Observation)/Intuiting (Creativity): What People PayAttention To 26

Thinking (Objectivity)/Feeling (Passion): How People MakeDecisions 28

Judging (Discipline)/Perceiving (Flexibility): How People Chooseto Live 30

Self-Testing 33

CHAPTER 5 Strengthening One’s Abilities: Drop and Give Me50 35

Extraverts and Introverts: Stretching Exercises 36

Sensing and Intuition: Stretching Exercises 39

Thinking and Feeling: Stretching Exercises 42

Judging and Perceiving: Stretching Exercises 44

Striking a Balance 46

CHAPTER 6 The Ideal Investment Personality 47

CHAPTER 7 The Typical Investment Personality 51

PART TWO The Investment Team: CollaborativeTechniques

CHAPTER 8 Teamwork Today? 67

CHAPTER 9 Golden Gloves or Golden Rule? 75

CHAPTER 10 Tools for Investment Teams 81

Identifying Preferences 82

Getting a Team Working Together 84

CHAPTER 11 Case History: Collaboration for a Money ManagementTeam 89

CHAPTER 12 Temperaments and Teams: Implications for the Markets97

The Guardian (SJ): Lions Rule the Kingdom 100

The Rationalist (NT): The Wise Old Owl 102

The Adventurist(SP): The Wily Fox 103

The Idealist(NF): The Compassionate Dolphin 105

CHAPTER 13 Temperament and Client Service 109

PART THREE The Creative Investment Team: Tools for EnhancingCreativity

CHAPTER 14 Brainstorming for the Masses 121

CHAPTER 15 The Creative Investor: Taming the Critics 129

CHAPTER 16 Creating a Safe Place 139

Exercises: Creating a Safe Place 148

CHAPTER 17 Guidelines for Safety 151

Exercise 157

Tools for Enhancing Creativity: "ACROBAT"160

CHAPTER 18 "A"Is for Assume Nothing 161

Exercise 1: Overconfidence Quiz 166

Exercise 2: Clean Slate 167

CHAPTER 19 "C"Is for Change Gears 169

CHAPTER 20 "R"Is for Risking Discomfort 175

Exercise 179

CHAPTER 21 "O"Is for Omit Either/Or Thinking 185

Exercise 189

CHAPTER 22 "B"Is for Borrow from Other Disciplines 191

Exercise 193

CHAPTER 23 "A"Is for Ask for Help 195

Exercise 201

CHAPTER 24 "T"Is for Tools and Techniques 203

CHAPTER 25 Getting Personal 213

Exercise: What Kind of Investor Are You? 222

PART FOUR The Intuitive Investor: Whole-BrainedInvesting

CHAPTER 26 Quantum Investing 225

CHAPTER 27 Waves and/or Particles 231

CHAPTER 28 The Case for Intuition 235

CHAPTER 29 Operating on All Cylinders 241

Index 251

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