Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich
by Jason Zweig
List Price:
Our Price: $5.40
You Save: $10.59 (66%)
Availability: Usually ships in 1-2 business days
Buy Used: from $2.74 (click here)
Category: Book
See more book details and other editions
Book Summary Information
Author: Jason ZweigEdition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2008-09-16
ISBN: 0743276698
Number of pages: 352
Publisher: Simon & Schuster
Book Reviews of Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich
Book Review: A Masterpiece of Risk & Investing Behavioral Science
Summary: 5 Stars
Your Money & Your Brain is a study of behavioral science focused on the finer points of rational thinking. The object of the book is to get a better understanding of the overwhelmingly common poor choices that investors make, particularly those decisions based on emotions, knee jerk reactions, and a poor reliance on seemingly helpful yet strikingly destructive instincts.
Zweig demonstrates how humans have relied on our reflective systems as though our instincts were built for the problems we face today; however, the reality is that our instincts were built for survival purposes. Instincts have served us well for millions of years, yet the modern world renders survival intuition meaningless, and a reliance on these instincts for investment is not only irrational, but dangerous. Our tendency to search for patterns causes us to assume order where it doesn't exist, and as a result our instincts cause us to jump to unhelpful conclusions.
There may be a large difference in the knowledge base between the average investor and the manger of a multi-billion dollar hedge fund, but there is little to no difference in nature of irrational thinking. Zweig clearly illustrates why the playing field for poor thinking is level no matter what your status, and learning to defend against hasty and imprudent decisions cannot be overstated. Put best in his own words, Zweig states, "Over the years, I've grown convinced that there are only three kinds of investors: those who think they are geniuses, those who think they are idiots, and those who aren't sure. As a general rule, the ones who aren't sure are the only ones who are right."
This book is fully enlightening and will leave you with an improved awareness of the proper rationale for making money. Zweig has an exceptional grasp of the human intellect as well as a strong ability to present the material coherently and effectively. The result is a masterpiece that any investor should read.
More Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich reviews:
1 2
1 2
Summary of Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich
What happens inside our brains when we think about money? Quite a lot, actually, and some of it isn't good for our financial health. In Your Money and Your Brain, Jason Zweig explains why smart people make stupid financial decisions -- and what they can do to avoid these mistakes. Zweig, a veteran financial journalist, draws on the latest research in neuroeconomics, a fascinating new discipline that combines psychology, neuroscience, and economics to better understand financial decision making. He shows why we often misunderstand risk and why we tend to be overconfident about our investment decisions. Your Money and Your Brain offers some radical new insights into investing and shows investors how to take control of the battlefield between reason and emotion.Your Money and Your Brain is as entertaining as it is enlightening. In the course of his research, Zweig visited leading neuroscience laboratories and subjected himself to numerous experiments. He blends anecdotes from these experiences with stories about investing mistakes, including confessions of stupidity from some highly successful people. Then he draws lessons and offers original practical steps that investors can take to make wiser decisions.
Anyone who has ever looked back on a financial decision and said, "How could I have been so stupid?" will benefit from reading this book.
Investing Books
Book Subjects
- Arts & Photography
- Biographies & Memoirs
- Business & Investing
- Children's Books
- Comics & Graphic Novels
- Computers & Internet
- Cooking, Food & Wine
- Entertainment
- Gay & Lesbian
- Health, Mind & Body
- History
- Home & Garden
- Horror
- Law
- Literature & Fiction
- Mystery & Thrillers
- Nonfiction
- Outdoors & Nature
- Parenting & Families
- Professional & Technical
- Reference
- Religion & Spirituality
- Romance
- Science
- Science Fiction & Fantasy
- Sports
- Teens
- Travel
Most talked about in Investing Books
Fixed Income Securities: Tools for Today's Markets, Second Editionby Bruce Tuckman
Wiley; Published: 2002-08-16; Hardcover; Book
Best price: $98.75
The Warren Buffett Way: Investment Strategies of the World's Greatest Investorby Robert G. Hagstrom
Wiley; Published: 1994-10; Hardcover; Book
Best price: $0.85
Price in other shops:
Foreclosure Investing For Dummiesby Ralph R. Roberts, Joe Kraynak
For Dummies; Published: 2007-05-29; Paperback; Book
Best price: $9.99
Price in other shops:
Uncommon Grounds : The History of Coffee and How It Transformed Our Worldby Mark Pendergrast
Basic Books; Published: 1999-06-01; Hardcover; Book
Best price: $26.74
Price in other shops:
Charles Schwab's Guide to Financial Independence: Simple Solutions for Busy Peopleby Charles Schwab
Crown; Published: 1997-12-24; Hardcover; Book
Best price: $0.01
Price in other shops:
Introduction to Derivatives and Risk Management (with Stock-Trak Coupon)by Don M. Chance, Roberts Brooks
South-Western College Pub; Published: 2009-08-11; Hardcover; Book
Best price: $90.00
Price in other shops:
Common Sense Economics: What Everyone Should Know About Wealth and Prosperityby James D. Gwartney, Richard L. Stroup, Dwight R. Lee, Tawni Hunt Ferrarini
St. Martin's Press; Published: 2005-02-01; Hardcover; Book
Best price: $4.75
Price in other shops:
Fundamentals of Futures and Options Markets (4th Edition)by John C. Hull
Prentice Hall; Published: 2001-06-29; Hardcover; Book
Best price: $14.06
Price in other shops:
An Introduction to High-Frequency Financeby Michel M.; Gençay, Ramazan; Muller, Ulrich A.; Olsen, Richard B.; Pic Dacorogna
Academic Press; Published: 2001; Hardcover; Book
Best price: $80.62
24 Essential Lessons for Investment Success: Learn the Most Important Investment Techniques from the Founder of Investor's Business Dailyby William J. O'Neil
McGraw-Hill; Published: 1999-12-13; Paperback; Book
Best price: $1.98
Price in other shops:
Similar Books and other products
Common Sense on Mutual Funds: Fully Updated 10th Anniversary Editionby John C. Bogle
Wiley; Published: 2009-12-02; Hardcover; Book
Best price: $16.22
Price in other shops:
What Investors Really Want: Know What Drives Investor Behavior and Make Smarter Financial Decisionsby Meir Statman
McGraw-Hill; Published: 2010-10-26; Hardcover; Book
Best price: $8.94
Price in other shops:
The Little Book of Behavioral Investing: How not to be your own worst enemy (Little Books, Big Profits (UK))by James Montier
Wiley; Published: 2010-02-03; Hardcover; Book
Best price: $12.99
Price in other shops:
The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Riskby William Bernstein
McGraw-Hill; Published: 2000-09-22; Hardcover; Book
Best price: $12.49
Price in other shops:
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)by John C. Bogle
Wiley; Published: 2007-03-05; Hardcover; Book
Best price: $10.25
Price in other shops:
Behavioral Finance and Wealth Management: How to Build Optimal Portfolios That Account for Investor Biases (Wiley Finance)by Michael Pompian
Wiley; Published: 2006-04-07; Hardcover; Book
Best price: $32.99
Price in other shops:
Mutual Funds For Dummies, 6th editionby Eric Tyson
John Wiley & Sons; Published: 2010-07-13; Paperback; Book
Best price: $9.98
Price in other shops:
Live It Up Without Outliving Your Money!: Getting the Most From Your Investments in Retirementby Paul Merriman
Wiley; Published: 2008-06-30; Hardcover; Book
Best price: $10.52
Price in other shops:
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Completely Revised and Updated)by Burton G. Malkiel
W. W. Norton & Company; Published: 2011-01-10; Hardcover; Book
Best price: $18.59
Price in other shops:
Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the Life-Changing Science of Behavioral Economicsby Gary Belsky, Thomas Gilovich
Simon & Schuster; Published: 2010-01-12; Paperback; Book
Best price: $8.32
Price in other shops: