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)
by Michael J. Mauboussin

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

Author: Michael J. Mauboussin
Edition: Hardcover
Published: 2007-09-26
ISBN: 0231143729
Number of pages: 320
Publisher: Columbia University Press

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

Book Review: An Intelligent Book
Summary: 5 Stars

I bought a copy after seeing a rave review and for the first 50 pages or so this book held my breathless attention - a sort of freakonomics for the high-brow set. The fact that from that point onward I could pretty much skim the book was a sign of how fast knowledge is becoming disseminated these days - the ideas sounded so familiar (the unlikely events are much probable than most people think, the fat tails, etc, etc). This is not really a criticism - if I knew this before I bought the book, I would still buy and enjoy it. The playground of the mind is definitely worth the admission price.

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

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.

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