Markets Never Forget (But People Do): How Your Memory Is Costing You Money--and Why This Time Isn't Different

Markets Never Forget (But People Do): How Your Memory Is Costing You Money--and Why This Time Isn't Different

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Product Details

ISBN-13: 9781455864478
Publisher: Brilliance Audio
Publication date: 12/20/2011
Edition description: Unabridged
Product dimensions: 6.50(w) x 5.40(h) x 0.70(d)

About the Author

KEN FISHER (Woodside, CA) is best known for his prestigious "Portfolio Strategy" column in Forbes magazine, where his over 25-year tenure of high-profile calls makes him the fourth longest-running columnist in Forbes's 90-plus year history. He is the founder, Chairman, and CEO of Fisher Investments, an independent global money management firm with over $32 billion under management (as of 6/30/10). Fisher is ranked #289 on the 2009 Forbes 400 list of richest Americans, and #721 on the 2010 Forbes Global Billionaire list. In 2010, Investment Advisor magazine named him as one of the 30 most influential individuals of the last three decades. Fisher has authored numerous professional and scholarly articles, including the award-winning article, "Cognitive Biases in Market Forecasting," and has published six previous books, including the New York Times and the Wall Street Journal bestsellers, The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat and Debunkery, all of which are published by Wiley. Fisher has been published, interviewed, and/or written about in many major American, British, and German finance or business periodicals. He has a weekly column in Focus Money, Germany's leading weekly finance and business magazine.
LARA HOFFMANS is a content manager at Fisher Investments, a contributing editor of MarketMinder.com, and coauthor of the bestsellers, The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, and Debunkery.

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Table of Contents

Preface ix

Acknowledgments xvii

Chapter 1 The Plain-Old Normal 1

Yes Sir, Sir John 1

The Normal Normal 5

The Jobless Recovery 14

The Always Feared, Rarely Seen Double Dip 23

Chapter 2 Fooled by Averages 31

Bull Markets Are Inherently Above Average 32

Viva the V 36

Normal Returns Are Extreme, Not Average 47

The Pause That Refreshes (and Confuses) 49

Getting Average Returns Is Hard—Really Hard 53

Chapter 3 Volatility Is Normal—and Volatile 57

What the Heck Is Volatility? 58

Volatility Is Volatile 61

The Daily Grind 65

Stocks Are Less Volatile Than Bonds? 67

Economic Volatility—Also Normal 69

Volatility Isn’t Inherently Bad 71

Never a Dull Moment 74

Chapter 4 Secular Bear? (Secular) Bull! 81

Seeing the World Through Bear- Colored Glasses 82

Two Secular Bear Markets? 84

Stocks—Up Vastly More Than Down 90

Chapter 5 Debt and Deficient Thinking 101

Deficits Aren’t Bad, but Surpluses Will Kill You 105

The History of Big Government Debt 110

Just Who Is at Default Here? 116

Chapter 6 Long- Term Love and Other Investing Errors123

No One Category Is Best for All Time 124

Long- Term Love Is Like Long- Term Forecasting—Both Wrong129

It’s Still Heat Chasing Even When It Seems Safe 134

Use History to Your Advantage 146

Chapter 7 Poli-Ticking 151

Enter the Ideology- Free Zone 152

Your Party Isn’t Better 153

Presidents and Risk Aversion 155

Perverse Inverse—It’s Four and One 160

Poli- Tics Go Global 170

Poli- Tics Versus Entrepreneurs 172

Chapter 8 It’s (Always Been) a Global World, After All177

It’s Always Been a Small World 179

Seeing the World Right 186

Conclusion 194

Appendix 197

Notes 201

Index 211

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