Description
Book SynopsisFrom New York Times and USA Today bestselling author, Dr. Daniel Crosbythe behavioral finance book all investors have been waiting for.
In The Laws of Wealth, psychologist and behavioral finance expert Daniel Crosby presents three sets of real, actionable rules that investors can use to apply the lessons of behavioral finance.
He begins with ten rules that are the hallmarks of good investor behavior, including ''Forecasting is for Weathermen,'' ''If You''re Excited, It''s Probably a Bad Idea,'' and Trouble is Opportunity.''
From here, attention turns to the Four Cs of Rule-Based Investing: Consistency, Clarity, Courageousness, Conviction. The Four Cs provide practical methods to combat behavioral risk in investing.
And finally, he introduces the Five Ps of successful equity investing: Price, Properties, Pitfalls, People, Push. Investors can draw on these five methods to select stocks and take advantage of behavioral opportunities in the stock market.
Throughout, anecdotes, research, and graphics illustrate the lessons in memorable ways. And in highly valuable ''What now?'' summaries at the end of each chapter, Crosby provides clear, concise direction on what to think, ask, and do next to become a better investor.
If you are wondering what years of behavioral finance has delivered for real investors, you should follow the laws of wealth to manage your behavior and improve your investing!
