What I Learned Losing A Million Dollars
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What I Learned Losing A Million Dollars
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Author : Jim Paul
language : en
Publisher: Columbia University Press
Release Date : 2013-05-21
What I Learned Losing A Million Dollars written by Jim Paul and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-21 with Business & Economics categories.
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 all--his fortune, his reputation, and his job--in one fatal attack of excessive economic hubris. 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 book--winner of a 2014 Axiom Business Book award gold medal--begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it--primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources. Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. 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.
Trading On Expectations
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Author : Brendan Moynihan
language : en
Publisher: John Wiley & Sons
Release Date : 1997-04-29
Trading On Expectations written by Brendan Moynihan and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-04-29 with Business & Economics categories.
Successful traders know that before stepping into the wilderness ofthe speculative markets, you need a solid understanding of basicmarket behavior. But the conventional methods often fall short ofproviding this basic knowledge. Academics assert one thing,economists and fundamental analysts another, and technicianssomething altogether different. And, seemingly, none of them agreewith each other. Trading on Expectations explores the ideas behind the dominantschools of analysis, and shows the validity of each anddemonstrates how each, albeit at different times, reflects what themarket is doing. Sometimes market prices can be predicted using theeconomists' models; sometimes prices follow a "random walk" as theacademics claim; at other times price is responding to thepatterns, trendlines, and breakout levels identified bytechnicians. In this groundbreaking new book, Brendan Moynihan draws on hisexperience as a trader, analyst, and researcher to develop a methodthat focuses on the prime mover of prices and incorporates thestrengths of the conventional methods. Drawing on theparticipant-focused Chicago Board of Trade Market Profile and thepsychologically focused Contrary Opinion, he synthesizes andmodifies the best in these different methods and skillfully createsa single model of market behavior --the Sentiment-ActivityModel. Moynihan carefully describes how the combination of participants'actions and expectations about the future determines the directionof prices in the markets. This dynamic interaction between actionsand expectations explains the emergence of the dominant phases ofthe markets: price trends, trading ranges, and trend reversals.What's more, Moynihan's unique model enables you to pinpoint thecombinations of activity and sentiment that determine the threestates of the market as they unfold, in time frames ranging from asingle day to several weeks or months. The Sentiment-Activity Modelalso provides a way to determine how the market is likely torespond to various news items, explaining the apparent anomalies ofprice behavior in the process. To document his finding, Moynihanprovides illuminating applications over a multimonth time period tofour markets: Treasury bonds, soybeans, deutsche marks, and crudeoil. Offering a new, more powerful way of understanding the dynamics ofmarket behavior, Trading on Expectations is a must-read for alltraders in stocks, options, and futures. "Brendan Moynihan has studied the 'real' economists and found thetruth about how human action and individual motivations determinemarket prices. Trading on Expectations combines the best of thetraders' economic and technical tools. I recommend this book toanyone who wants to learn how to trade more successfully." --BrianS. Wesbury Chief Economist Griffin, Kubik, Stephens & Thompsonand former chief economist Joint Economic Committee of the UnitedStates Congress "In today's fast-forward society, readers of this book can quicklyabsorb the real essence of Trading Reality that takes years tounderstand. In fact, many traders have come and gone withoutrealizing how successful traders operate. It could take years togather the perspectives of this book. The Hightower Report plans touse the book for training its analysts!" --David C. Hightower,Editor The Hightower Report "Where most market texts simply reheat and serve the same oldapproaches, Trading on Expectations offers a fresh perspective bycombining the best of several market disciplines into a logicaltheory and workable system for trading all financial markets."--Michael Zentz Director of Fixed Income Research PegasusEconometric Group
How To Make A Million Dollars An Hour
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Author : Les Leopold
language : en
Publisher: Turner Publishing Company
Release Date : 2012-12-18
How To Make A Million Dollars An Hour written by Les Leopold and has been published by Turner Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-18 with Political Science categories.
How hedge funds make money by taking it from the rest of us?and how you can join them! Top hedge fund managers make more than Oprah, Rupert Murdoch, and A-Rod combined?but they aren't running news and entertainment empires or playing baseball for the New York Yankees. Aren't you curious about how these hedge fund dudes make so much doing who knows what? You may even wonder if you can get there, too. After all, this is America! This book gives you the answers in a twelve-step guide to accumulating vast riches the way hedge fund managers do?by playing trillion-dollar poker with a marked deck. Through each easy step, you'll learn the sleight of hand and disregard for basic morality you'll need to move from making tens of dollars an hour to millions an hour! Along the way, you'll also question whether these hedge fund moguls make markets work better?as they and their apologists insist?or cause instability, siphon off capital, and destroy value without adding so much as a single widget to the economy. Takes a fascinating tour of the wild side of fantasy finance to explain just how hedge fund managers make so much money?and whether or not the million-an-hour crowd produces anything positive for society and the economy Teaches you hedge fund secrets that make it possible to pull down astounding sums in the space of minutes?from rigging your bets to milking millions in special tax breaks?if you're willing to bankrupt your morality for the cash Counters many of the most common arguments about why speculating in financial markets is somehow "worth more" than creating entertainment, electronics, or consumer goods that consumers want Written by Les Leopold, the popular AlterNet writer and author of The Looting of America
How I Made One Million Dollars Last Year Trading Commodities
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Author : Larry R. Williams
language : en
Publisher: Windsor Books/Probus
Release Date : 1979
How I Made One Million Dollars Last Year Trading Commodities written by Larry R. Williams and has been published by Windsor Books/Probus this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Business & Economics categories.
This fascinating book is loaded with practical information designed to help you in the commodity market. The author's method...proven by his million dollar success...does not involve complicated math or subjective evaluation. There are two completely systematic methods; %R and Momentum. The essence fo these methods is that they tell you if the super powers are long or short; when the super powers expect a major move to start; what commodities are in true bull or bear markets; when to start buying and when to sell for gargantuan profits. This book is a must if you're a stock or commodity trader. It will expose to you an exciting new approach to trading and thinking--the same approach that has made Larry Williams a millionaire.
The Psychology Of Money
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Author : Morgan Housel
language : en
Publisher: Harriman House Limited
Release Date : 2020-09-08
The Psychology Of Money written by Morgan Housel and has been published by Harriman House Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-08 with Business & Economics categories.
Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.
Win By Not Losing A Disciplined Approach To Building And Protecting Your Wealth In The Stock Market By Managing Your Risk
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Author : Nick Atkeson
language : en
Publisher: McGraw Hill Professional
Release Date : 2013-10-18
Win By Not Losing A Disciplined Approach To Building And Protecting Your Wealth In The Stock Market By Managing Your Risk written by Nick Atkeson and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-18 with Business & Economics categories.
A DISCIPLINED STRATEGY FOR AVOIDING MAJOR DOWN MARKETS AND PARTICIPATING IN BULLISH MARKETS Your financial advisor's strategy to buy-and-hold a diversified equity portfolio sounded good. Diversification promised to protect your wealth. Now, however, more than a decade of hard data shows it didn't work. And, more than likely after a decade of multiple financial shocks and crashes, your account balance is not what you hoped it would be when you started saving years ago. Much of your investment life has been spent just trying to make back what was lost. Win By Not Losing reveals how you can make smarter, more profi table investments by first protecting your capital from major bear equity markets. It also shows you how to identify major bullish equity market trends and guides you on how best to participate. By avoiding the major downs and catching the ups, your portfolio compounds gains and allows you to achieve your financial goals. Chasing returns leads to the poorhouse. With this book's disciplined system for knowing when to buy, what to buy, and when to sell, you can build and protect your portfolio through active management techniques. It walks you step-by-step through growing your portfolio in bull and bear market cycles. You will master a concrete investing method that lets you trade with emotionless confidence and precision. Packed with links to online resources and personal tips from successful, high-profile traders, Win By Not Losing gives you everything you need to: Identify the market metrics that are important to building wealth Detect and measure the market signals foreshadowing major moves Build a portfolio with strong downside protection, full transparency, immediate liquidity, low fees, and incredible risk-adjusted returns Your portfolio returns will continue to be disappointing unless you act. It's time to make up for lost profits by taking an active, professional, and nonemotional portfolio management approach to avoid major losses and capture gains. Win By Not Losing provides everything you need to build wealth in today's stock market. Stop watching your money rise and fall without signifi cant net gain with a "buy-and-hold" strategy and optimize your positions as market sentiment changes. In a nonappreciating market, investors must actively manage equities to acquire gains. Win By Not Losing presents an active approach that uses rigorous risk-management techniques to preserve your wealth and generate high returns in all equity market environments. Prominent authors and lecturers Nick Atkeson and Andrew Houghton have culled the best of their work to help you revitalize your trading habits, protect your capital, and beat the market. Through real-world stories demonstrating fi nancial theory in action and how-to instructions for executing their strategic investment approach, these expert authors enable you to: Achieve sizable returns through an investment strategy equally focused on when to invest and when to sell Avoid major down markets and fully benefit from major up markets Access unique financial information to help you stay current, think ahead, and build and protect your wealth Whether you're an independent investor or a professional financial advisor, this refreshing look at investing will change the way you see the markets. Forget what you know about modern portfolio theory and trade to make money in today's markets with Win By Not Losing. "Anyone with some experience in the stock market, especially the person who wants to move beyond a buy and hold strategy, can find useful tidbits in this book.” ReadingTheMarkets.com
Market Sense And Nonsense
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Author : Jack D. Schwager
language : en
Publisher: John Wiley & Sons
Release Date : 2012-10-19
Market Sense And Nonsense written by Jack D. Schwager and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-19 with Business & Economics categories.
Bestselling author, Jack Schwager, challenges the assumptions at the core of investment theory and practice and exposes common investor mistakes, missteps, myths, and misreads When it comes to investment models and theories of how markets work, convenience usually trumps reality. The simple fact is that many revered investment theories and market models are flatly wrong—that is, if we insist that they work in the real world. Unfounded assumptions, erroneous theories, unrealistic models, cognitive biases, emotional foibles, and unsubstantiated beliefs all combine to lead investors astray—professionals as well as novices. In this engaging new book, Jack Schwager, bestselling author of Market Wizards and The New Market Wizards, takes aim at the most perniciously pervasive academic precepts, money management canards, market myths and investor errors. Like so many ducks in a shooting gallery, Schwager picks them off, one at a time, revealing the truth about many of the fallacious assumptions, theories, and beliefs at the core of investment theory and practice. A compilation of the most insidious, fundamental investment errors the author has observed over his long and distinguished career in the markets Brings to light the fallacies underlying many widely held academic precepts, professional money management methodologies, and investment behaviors A sobering dose of real-world insight for investment professionals and a highly readable source of information and guidance for general readers interested in investment, trading, and finance Spans both traditional and alternative investment classes, covering both basic and advanced topics As in his best-selling Market Wizard series, Schwager manages the trick of covering material that is pertinent to professionals, yet writing in a style that is clear and accessible to the layman
How To Turn 100 Into 1 000 000
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Author : James McKenna
language : en
Publisher: Hachette UK
Release Date : 2016-04-05
How To Turn 100 Into 1 000 000 written by James McKenna and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-05 with Juvenile Nonfiction categories.
The ultimate kids’ guide to money: earning it, saving it, and investing it. Hey, kids, want to become a millionaire? Or get a business off the ground? Or save up some money to buy a new bike? All it takes is understanding and putting into practice a few simple strategies and concepts about money: Make it: Learn the ins and outs of scoring a first job, or even better, starting a business. Save it: That’s right, millionaires are people who have a million dollars, not people who spend a million dollars. Grow it: Invest and use the most powerful force in the financial universe––compound interest. Next thing you know, you’re a bona fide financial whiz on the road to your first million. Now get going! A thorough introduction to finance from the people behind BizKid$, How to Turn $100 into $1 Million includes chapters on setting financial goals, making a budget, getting a job, starting a business, and investing smartly – and how to think like a millionaire. Plus: a one-page business plan template, a two-page plan to become a millionaire, and a personal budget tracker. “As you follow their plan, your interests will grow––and so will your money. Meanwhile, excuse me, I’ve got to reread a few sections.”––Bill Nye the Science Guy
The Laws Of Wealth
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Author : Daniel Crosby
language : en
Publisher:
Release Date : 2021-03-30
The Laws Of Wealth written by Daniel Crosby and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-30 with Business & Economics categories.
GOLD MEDALIST IN THE AXIOM BUSINESS BOOK AWARDS 2017 From New York Times and USA Today bestselling author, Dr Daniel Crosby, comes the behavioral finance book all investors have been waiting for. In The Laws of Wealth, psychologist and behavioral finance expert Daniel Crosby offers an accessible and applied take on a discipline that has long tended toward theory at the expense of the practical. Readers are treated to real, actionable guidance as the promise of behavioral finance is realised and practical applications for everyday investors are delivered. Crosby presents a framework of timeless principles for managing your behavior and your investing process. He begins by outlining ten rules that are the hallmarks of good investor behavior, including 'Forecasting is for Weathermen' and 'If You're Excited, It's Probably a Bad Idea'. He then goes on to introduce a unique new taxonomy of behavioral investment risk that will enable investors and academics alike to understand behavioral risk in a newly coherent and complete way. From here, attention turns to the four ways in which behavioral risk can be combatted and the five equity selection methods investors should harness to take advantage of behaviorally-induced opportunities in the stock market. Throughout, readers are treated to anecdotes, research and graphics that 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 investors should think, ask and do to benefit from the behavioral research. Dr. Crosby's training as a clinical psychologist and work as an asset manager provide a unique vantage and result in a book that breaks new ground in behavioral finance. You need to follow the laws of wealth to manage your behavior and improve your investing process!
Summary What I Learned Losing A Million Dollars By Jim Paul And Brendan Moynihan
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Author : Shortcut Edition
language : en
Publisher: Shortcut Edition
Release Date : 2021-06-08
Summary What I Learned Losing A Million Dollars By Jim Paul And Brendan Moynihan written by Shortcut Edition and has been published by Shortcut Edition this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-08 with Business & Economics categories.
* Our summary is short, simple and pragmatic. It allows you to have the essential ideas of a big book in less than 30 minutes. By reading this summary, you will discover how to protect yourself against heavy losses on the financial markets. You will also discover : the secret to success on the stock market: limit your losses as much as possible; the impact of psychological tendencies on the decision-making process; the danger of indexing one's self-esteem on one's successes and failures; the need to keep a cool head and make rational decisions in the markets; the importance of a predefined strategy with exit criteria and safeguards. There are a multitude of methods and tips for success in the stock market. However, investors with the most diverse profiles experience as many great successes as they do great losses. Is there no real technique? While different paths lead to success, the most resounding disasters seem to have one thing in common: unfortunate investors indulge in irrational decisions, guided by conformism or overconfidence. Investor Jim Paul has paid the price. The story of his rise and fall provides valuable clues to decipher the market's pitfalls and how to avoid them. *Buy now the summary of this book for the modest price of a cup of coffee!