What Investors Really Want: Know What Drives Investor Behavior and Make Smarter Financial Decisions

Overview

WHAT INVESTORS WANT

Praise for What Investors Really Want

"We all share behavioral traits that are major roadblocks to intelligent financial decisions. Bottom line: if you really want to achieve investment success, understand yourself and eliminate or minimize these traits. This book will help you do exactly that."

— John C. Bogle, Founder, Vanguard Funds

"What Investors Really Want enables us to "post mortem" the financial decisions of ...

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What Investors Really Want: Know What Drives Investor Behavior and Make Smarter Financial Decisions

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Overview

WHAT INVESTORS WANT

Praise for What Investors Really Want

"We all share behavioral traits that are major roadblocks to intelligent financial decisions. Bottom line: if you really want to achieve investment success, understand yourself and eliminate or minimize these traits. This book will help you do exactly that."

— John C. Bogle, Founder, Vanguard Funds

"What Investors Really Want enables us to "post mortem" the financial decisions of ourselves and others. The book is extremely valuable for theory, as a survey of how the human animal makes financial decisions, and for the practice of making smarter financial decisions."

—Harry M. Markowitz, Rady School of Management, University of California, San Diego; winner, Nobel Memorial Prize in Economic Sciences

"In investing, we are often our own worst enemies. Meir Statman, an expert in behavioral finance, explains the common errors to which we are prone and helps us make smarter decisions about our investments."

—Burton Malkiel, bestelling author of A Random Walk Down Wall Street

"A masterly review of the many pitfalls and challenges facing market participants today, written by one of the founders of the field of behavioral finance. This volume should be required reading for all investors and their financial advisors!"

—Andrew W. Lo, Harris & Harris Group Professor of Finance at the MIT Sloan School of Management

"What a gem! Meir Statman is a wise and engaging teacher, and after reading his book, I will be a wiser, better, less anxious investor."

—Don Ezra, co-chair, global consulting, Russell Investments, and co-author of Pension Fund Excellence and The Retirement Plan Solution

"The first step to good investing is always the same, 'know thyself'. If you read this book and don't recognize a lot of yourself in it, you're just not paying attention!"

—Cliff Asness, founding and managing principal, AQR Capital Management LLC

"Meir Statman, a leading light of behavioral finance, shines the bright light of modern neuropsychology on all the mental demons that conspire to make you poor. He'll make you laugh, he'll make you cry and, best of all, he'll improve your bottom line."

—William Bernstein, bestselling author of The Intelligent Asset Allocator, The Four Pillars of Investing, and The Investor's Manifesto; co-founder, Efficient Frontier Advisors

“The result is a message that is not only well presented, but also richly worth reading.”
—Barron’s

"An excellent introduction to the behavioural science world of investing and individuals."
—FT Advisor

Combining the new field of behavioral finance with the real world of investing, this engaging new book explores the mind-sets and motivations behind the major money decisions—and most common mistakes—that investors make every day. With insider's insight, and a storyteller's voice, behavioral finance expert Meir Statman reveals What Investors Really Want . . .

  • Investors want bigger profits with lower risks. How our desire for free investment lunches can leave us with no

    lunches

  • Investors want to play and win. How our desire to win the investment game can turn us into losers
  • Investors want to save money for tomorrow and spend it today. How we struggle between spending too much and

    spending too little

  • Investors want status, respect, and social responsibility. How to know what's really important in life
  • Investors do not want to face financial losses. How to recognize and confront the regret that accompanies losses

You'll also learn how age, gender, genetics, and personality affect your investment decisions and how people of different countries and cultures think about risks and returns, poverty, and wealth. You'll discover

how behavioral finance provides key insights into the behavior that has rocked investment markets in recent years. And, most important, you'll learn to recognize the desires, thoughts, and emotions that drive your own investment decisions—so you can drive better on your road to investment success.

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Product Details

  • ISBN-13: 9780071741651
  • Publisher: McGraw-Hill Professional Publishing
  • Publication date: 10/26/2010
  • Edition number: 1
  • Pages: 304
  • Sales rank: 736,872
  • Product dimensions: 9.50 (w) x 11.64 (h) x 1.01 (d)

Meet the Author

Meir Statman is the Glenn Klimek Professor of Finance at the Leavey School of Business, Santa Clara University, and Visiting Professor at Tilburg University in the Netherlands. His research on behavioral finance has been supported by the National Science Foundation, CFA Institute, and Investment Management Consultants Association (IMCA) and has been published in the Journal of Finance, Financial Analysts Journal, Journal of Portfolio Management, and many other publications. A

recipient of two IMCA Journal Awards, the Moskowitz Prize for Best Paper on Socially Responsible Investing, and three Graham and Dodd Awards, Statman consults with many

investment companies and presents his work to academics and professionals in the U.S. and abroad.

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Table of Contents

Chapter One: We Want High Returns with No Risk; Chapter Two: We Have Thoughts, Some Erroneous; Chapter Three: We Have Emotions, Some Misleading; Chapter Four: We Want to Play, and Win; Chapter Five: We Join Herds and Inflate Bubbles; Chapter Six: We Want Self Control and Mental Accounts; Chapter Seven: We Want to Save for Tomorrow and Spend it Today;Chapter Eight: We Want Hope for Riches and Freedom from the Fear of Poverty;Chapter Nine: We Have Similar Wants and Different Ones; Chapter Ten: We Want to Face No Losses;Chapter Eleven: We Want to Pay No Taxes;Chapter Twelve: We Want High Status and Proper Respect;Chapter Thirteen: We Want to Stay True to Our Values; Chapter Fourteen: We Want Fairness;

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Sort by: Showing all of 3 Customer Reviews
  • Posted November 14, 2010

    A MUST for Investors and Advisors!!!

    Meir Statman's brilliant work is like a tornado of knowledge blowing away the smoke of nonsensical investment advice that litters the book shelves with misinformation. I tore through this incredible work with voracious gulps, anxious to recommend it to other advisors and clients. Meir has laid out a crystal clear explanation of "why" we think the way we do and how our penchant for being "normal" gets us into trouble. His book is foundational in its scope of readability and common sense. There is hope for successful results if we question our rationality and examine our thinking and the rules we've managed to carry with us. Do your friends and family a favor-spread the word!!

    2 out of 2 people found this review helpful.

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    Posted June 10, 2011

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