The Psychology of Investing 1st Edition by John Nofsinger ISBN 9780130930248 0130930248

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Product details: 

ISBN 10:   0130930248

ISBN 13: 9780130930248

Author: John R. Nofsinger

While traditional finance focuses on the tools used to optimize return and minimize risk, this book shows how psychology can explain our decisions more than financial theory. Analyzing how investors behave in the real world, this is the first book of its kind to delve into the ways biases influence investment behavior, and how overcoming these biases can increase financial success.Now in its seventh edition, this classic text easy-to-understand structure, illustrating psychological biases as everyday behavior; analyzing their effect on investment decisions; and concluding with academic studies that show real-life investors making choices that hurt their wealthNew content on fintech and cryptocurrencies, the role of social media in investing, generational biases, and the COVID-19 pandemicExperiential examples, chapter summaries, and end-of-chapter discussion questions to help readers test their practical understandingOnline supplements comprising PowerPoint slides for both students and lecturers Fully updated with the latest research in the field, The Psychology of Investing will prove fascinating and educational for advanced students in behavioral finance, investment and portfolio management classes, as well as investors and financial planners.

Table of contents: 

Chapter 1. Psychology and Finance

• Prediction

• Long-Term Capital Management

• Behavioral Finance

• Sources of Cognitive Errors

• Bias and Wealth Impact

• What to Expect

Chapter 2. Overconfidence

• Overconfidence Affects Investor Decisions

• Overconfidence and Risk

• Illusion of Knowledge

• Illusion of Control

• Online Trading

• Online Trading and Performance

Chapter 3. Pride and Regret

• Disposition Effect

• Disposition Effect and Wealth

• Tests of Avoiding Regret and Seeking Pride

• Selling Winners Too Soon and Holding Losers Too Long

• Disposition Effect and News

• Reference Points

• Can the Disposition Effect Impact the Market?

Chapter 4. Risk Perceptions

• House Money Effect

• Snake Bite (or Risk Aversion)

• Trying to Break Even

• Effect on Investors

• Endowment (or Status Quo Bias) Effects

• Perception of Investment Risk

• Memory and Decision Making

• Cognitive Dissonance

Chapter 5. Mental Accounting

• Mental Budgeting

• Matching Costs to Benefits

• Aversion to Debt

• Sunk-Cost Effect

• Economic Impact

• Mental Accounting and Investing

Chapter 6. Forming Portfolios

• Modern Portfolio Theory

• Mental Accounting and Portfolios

• Perceptions on Risk

• Risk Perception in the Real World

• Building Behavioral Portfolios

• Naïve Diversification

• Retirement Plans

Chapter 7. Representativeness and Familiarity

• Representativeness

• Representativeness and Investing

• Familiarity

• Familiarity Breeds Investment

• Familiarity Breeds Investment Problems

• Combining Familiarity and Representativeness Biases

Chapter 8. Social Interaction and Investing

• Talking the Talk

• Social Environment

• Investment Clubs

• The Media

• Speed Is Not of the Essence

• Herding

• Short-Term Focus

Chapter 9. Emotion and Investment Decisions

• Feelings and Decisions

• Feelings and Finance

• Sentiment

• Market Bubbles

Chapter 10. Self-Control and Decision Making

• Short-Term Versus Long-Term Focus

• Controlling Yourself

• Saving and Self-Control

• 401(k) and IRA Plans

• Self-Control and Dividends

• Beating the Biases

• Additional Rules of Thumb

• Using Biases for Good

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Tags: John Nofsinger, The Psychology