What I Learned Losing a Million Dollars (Columbia Business School Publishing)
| Author | : | |
| Rating | : | 4.44 (592 Votes) |
| Asin | : | 0231164688 |
| Format Type | : | paperback |
| Number of Pages | : | 192 Pages |
| Publish Date | : | 2013-10-07 |
| Language | : | English |
DESCRIPTION:
During his twenty-five-year career in the futures industry, he was a retail broker, floor trader, and research director and served on the Chicago Mercantile Exchange Board of Governors and the Executive Committee.Brendan Moynihan is a managing director at Marketfield Asset Management LLC, where his understanding of markets and the media helps shape their macro views and allocations. He is also the author of Financial Origami: How the Wall Street Model Brok
(Nassim Nicholas Taleb, from Antifragile: Things That Gain from Disorder)Plenty of books recount past successes or focus on how to make money in the market, but what about keeping the money you already have? This may seem like a high-class problem, but it is a very real challenge for investors with substantial capital. (Jack Schwager, author of Hedge Fund Market Wizards)A novel approach aimed at pushing you inside your head and outside the losing habits most folks adopt right after multiple successes. (Brenda Jubin Investing)The book points out very early that many successful investors have opposing styles and theories on how to make money, and that they can not all be right at the same time. The most important point to take from the book is how to avoid losing money (Steve Osbiston Financial Times Advisor) . Worthwhile reading for those who don't believe in t
Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors.This bookwinner of a 2014 Axiom Business Book award gold medalbegins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it allhis fortune, his reputation, and his jobin on
"How not to lose is more important than how to win" according to T. Tschirgi. This is a valuable and insightful book. It approaches the problem of making money in the stock market opposite from the usual direction--A philosophy of how not to lose money.Initially winning in the stock market is perhaps more dangerous than losing because it is natural to feel that you have won due to skill or insight, rather than luck or happening to enter the market during favorable conditions. The author describes a process to help the investor avoid losing which is simple to implement.Assumptions: It is always good to look for underlying assumptions!1) The author a. MommaCXOk book for a casual read Decent book but not much new here. Mercenary Trader wrote a great 3-star review that says it way better than I can. I agree wholeheartedly.The first part of the book was most interesting to me because I find it fascinating to know about a person's personal history. But then he started to lose me describing how he lost his money. Nothing interesting or complicated- he simply road his massive gain into the ground and beyond.The most interesting part of the book was when he puts quotes from ultra successful speculators that directly contradict each other. The takeaway is tha. âï¸ said Ok book for a casual read. Decent book but not much new here. Mercenary Trader wrote a great Ok book for a casual read Decent book but not much new here. Mercenary Trader wrote a great 3-star review that says it way better than I can. I agree wholeheartedly.The first part of the book was most interesting to me because I find it fascinating to know about a person's personal history. But then he started to lose me describing how he lost his money. Nothing interesting or complicated- he simply road his massive gain into the ground and beyond.The most interesting part of the book was when he puts quotes from ultra successful speculators that directly contradict each other. The takeaway is tha. -star review that says it way better than I can. I agree wholeheartedly.The first part of the book was most interesting to me because I find it fascinating to know about a person's personal history. But then he started to lose me describing how he lost his money. Nothing interesting or complicated- he simply road his massive gain into the ground and beyond.The most interesting part of the book was when he puts quotes from ultra successful speculators that directly contradict each other. The takeaway is tha. First half was interesting DMM I found the story of how he lost his money interesting, but when I got to the second half of the book when he starts lecturing the reader on how to avoid his "mistakes", it became clear the author had learned NOTHING, in my opinion. I believe his underlying mistake was making speculative bets on risky assets based on flawed analysis, with leverage. Even if one understands the flaws of human psychology, it will not change the fact that making leveraged bets on commodities is a losing game.