Psychology of Investing:

ISBN-10: 0132994895
ISBN-13: 9780132994897
Edition: 2013
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Description: Directed primarily toward undergraduate and graduate investments students, this text also provides practical content to current and aspiring industry professionals.The Psychology of Investingis the first text of its kind to delve into the  More...

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Book details

List price: $46.67
Copyright year: 2013
Publisher: Pearson College Div
Binding: Paperback
Pages: 160
Size: 7.25" wide x 8.75" long x 0.25" tall
Weight: 0.594
Language: English

Directed primarily toward undergraduate and graduate investments students, this text also provides practical content to current and aspiring industry professionals.The Psychology of Investingis the first text of its kind to delve into the fascinating subject of how psychology affects investing. Its unique coverage describes how investors actually behave, the reasons and causes of that behavior, why the behavior hurts their wealth, and what they can do about it.

Preface
Psychology and Finance
Traditional Versus Behavioral Finance
Prediction
Behavioral Finance
Sources of Cognitive Errors
Bias and Wealth Impact
What to Expect
Summary
Questions
Notes
Overconfidence
Overconfidence Affects Investor Decisions
Overconfident Trading
Overconfidence and the Market
Overconfidence and Risk
Illusion of Knowledge
Who Is Overconfident?
Illusion of Control
Choice
Outcome Sequence
Task Familiarity
Information
Active Involvement
Past Successes
Online Trading
Online Trading and Performance
Summary
Questions
Notes
Pride and Regret
Disposition Effect
Disposition Effect and Wealth
Tests of Avoiding Regret and Seeking Pride
International Tests of the Disposition Effect
Disposition Outside the Stock Market
Selling Winners Too Soon and Holding Losers Too Long
Disposition Effect and News
Reference Points
Reference Point Adaptation
Can the Disposition Effect Impact the Market?
Disposition and Investor Sophistication
Buying Back Stock Previously Sold
Summary
Questions
Notes
Risk Perceptions
House-Money Effect
Snakebite (or Risk Aversion)
Trying to Break Even
Effect on Investors
Endowment (or Status Quo Bias) Effects
Endowment and Investors
Perception of Investment Risk
Memory and Decision Making
Memory and Investment Decisions
Cognitive Dissonance
Cognitive Dissonance and Investing
Nature or Nurture?
Summary
Questions
Notes
Decision Frames
Framing and Choice
Framing and Investing
Framing and the Risk-Return Relationship
Framing and Prediction
Thinking Mode and Decision Processes
Measuring Thinking Mode
Risk Framing and Thinking Style
Framing Financial Decisions
Pension Decisions
Payday Loans
Summary
Questions
Notes
Mental Accounting
Mental Budgeting
Matching Costs to Benefits
Matching Debt
Sunk-Cost Effect
Economic Impact
Mental Accounting and Investing
Investor Trading
Asset Allocation
Market Impart
Summary
Questions
Notes
Forming Portfolios
Modern Portfolio Theory
Mental Accounting and Portfolios
Perceptions on Risk
Risk Perception in the Real World
Building Behavioral Portfolios
Household Portfolios
Preferred Risk Habitat
Na�ve Diversification
Retirement Plans
Summary
Questions
Notes
Representativeness and Familiarity
Representativeness
Representativeness and Investing
Extrapolation Bias
Familiarity
Familiarity Breeds Investment
Local Bias
Market Impacts
Familiarity Breeds Investment Problems
Combining Familiarity and Representativeness Biases
Summary
Questions
Notes
Social Interaction and Investing
Talking the Talk
Imitate Thy Neighbor's Portfolio
Social Environment
Investment Clubs
Investment Club Performance
Investment Clubs and Social Dynamics
The Media
Language
Speed Is Not of the Essence
Herding
Herding into Stocks
"A Rose.com by Any Other Name"
Short-Term Focus
Faith
Social Validation
Summary
Questions
Notes
Emotion and Investment Decisions
Feelings and Decisions
Feelings and Finance
Feelings Affect Investment Decisions
Sunshine
Negative Emotions
Optimism
Sentiment
Market Bubbles
The Thrills of Investing
Summary
Questions
Notes
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
Understand the Biases
Know Why You Are Investing
Have Quantitative Investment Criteria
Diversify
Control Your Investing Environment
Additional Rules of Thumb
Maybe an Advisor is Needed?
Using Biases for Good
Save More Tomorrow
Save and Win
Summary
Questions
Notes
Psychology in the Mortgage Crisis
Mortgage Industry
Subprime Mortgages
Emotional Stress and Frame Manipulation
Society Cross-Subsidy
Households in Distress
Mortgage Default: Social Norms and Psychology
Government's Use of Psychology in Mortgage Social Policy
Psychology Further Down the Mortgage Supply Chain
Summary
Questions
Notes
Credits
Index

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