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Finance And Psychology A Never Ending Love Story Behavioural Finance And Its Impact On The Credit Crunch In 2009
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Book Synopsis Finance and Psychology – A never-ending love story?! Behavioural Finance and its impact on the credit crunch in 2009 by : Patrick Kemtzian
Download or read book Finance and Psychology – A never-ending love story?! Behavioural Finance and its impact on the credit crunch in 2009 written by Patrick Kemtzian and published by diplom.de. This book was released on 2015-02-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last decades many financial crises have emerged, like the stock crash of 1987, the Asian crisis in 1997 and the global financial crisis that started in 2008. Although those crises occurred for different reasons, they all proved financial markets to be inefficient. Not all traders think rationally. Behavioural patterns cause irrationality amongst traders. Even after decades of research in this field, financial crises like the latest one in 2008 still develop out of a combination of different behavioural patterns like herding. As a consequence those patterns deserve an in-depth analysis that is conducted by the author in this work. In order to find out to what extent behavioural finance influences the decision –making process of traders and investors the seven most relevant behavioural patterns have been identified and analysed through qualitative research in form of primary research. The informal interview with the sophisticated trader Thomas Vittner serves as empirical evidence for the significance of the determined behavioural patterns. To find out, whether public investors and traders showed a herding behaviour towards analysts’ stock recommendations in the financial crisis and its recovery, quantitative research has been made by conducting an experiment. Stocks performances in relation to analysts’ recommendations were analysed and evaluated. The author’s selected behavioural patterns are influencing traders’ and investors’ decision-making processes to a large extent as their majority trades irrationally. The herding behaviour to follow analysts’ stock recommendations only holds partially in the crisis and in the recovery phase. The results show that whereas the majority of analysts’ recommendations matched with market trends before the crisis, only about half matched during the crisis and its recovery. People tended to follow the general signals of the market, rather than to recommendations given by analysts.
Book Synopsis Finance and Psychology ? A Never-ending Love Story?! Behavioural Finance and Its Impact on the Credit Crunch in 2009 by : Patrick Kemtzian
Download or read book Finance and Psychology ? A Never-ending Love Story?! Behavioural Finance and Its Impact on the Credit Crunch in 2009 written by Patrick Kemtzian and published by Diplomarbeiten Agentur. This book was released on 2012-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last decades many financial crises have emerged, like the stock crash of 1987, the Asian crisis in 1997 and the global financial crisis that started in 2008. Although those crises occurred for different reasons, they all proved financial markets to be inefficient. Not all traders think rationally. Behavioural patterns cause irrationality amongst traders. Even after decades of research in this field, financial crises like the latest one in 2008 still develop out of a combination of different behavioural patterns like herding. As a consequence those patterns deserve an in-depth analysis that is conducted by the author in this work. In order to find out to what extent behavioural finance influences the decision ?making process of traders and investors the seven most relevant behavioural patterns have been identified and analysed through qualitative research in form of primary research. The informal interview with the sophisticated trader Thomas Vittner serves as empirical evidence for the significance of the determined behavioural patterns. To find out, whether public investors and traders showed a herding behaviour towards analysts? stock recommendations in the financial crisis and its recovery, quantitative research has been made by conducting an experiment. Stocks performances in relation to analysts? recommendations were analysed and evaluated. The author?s selected behavioural patterns are influencing traders? and investors? decision-making processes to a large extent as their majority trades irrationally. The herding behaviour to follow analysts? stock recommendations only holds partially in the crisis and in the recovery phase. The results show that whereas the majority of analysts? recommendations matched with market trends before the crisis, only about half matched during the crisis and its recovery. People tended to follow the general signals of the market, rather than to recommendations given by analysts.
Book Synopsis The 4-hour Workweek by : Timothy Ferriss
Download or read book The 4-hour Workweek written by Timothy Ferriss and published by Random House. This book was released on 2011 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to reconstruct your life? Whether your dream is experiencing high-end world travel, earning a monthly five-figure income with zero management, or just living more and working less, this book teaches you how to double your income, and how to outsource your life to overseas virtual assistants for $5 per hour and do whatever you want.
Book Synopsis For Times of Trouble by : Jeffrey R. Holland
Download or read book For Times of Trouble written by Jeffrey R. Holland and published by . This book was released on 2012 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author explores dozens of scriptural passages from the psalms, offering personal ideas and insights and sharing his testimony that "no matter what the trouble and trial of the day may be, we start and finish with the eternal truth that God is for us."--
Book Synopsis Handbook of Behavioral Economics - Foundations and Applications 1 by :
Download or read book Handbook of Behavioral Economics - Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 749 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. - Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics - Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics - Written for those who wish to become quickly acquainted with behavioral economics
Book Synopsis Animal Spirits by : George A. Akerlof
Download or read book Animal Spirits written by George A. Akerlof and published by Princeton University Press. This book was released on 2010-02-01 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.
Book Synopsis A Crisis of Beliefs by : Nicola Gennaioli
Download or read book A Crisis of Beliefs written by Nicola Gennaioli and published by Princeton University Press. This book was released on 2018-09-11 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: How investor expectations move markets and the economy The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today’s most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people—and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today’s unpredictable financial waters.
Book Synopsis The Psychology of Money by : Morgan Housel
Download or read book The Psychology of Money written by Morgan Housel and published by Harriman House Limited. This book was released on 2020-09-08 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Mind over Money written by Brad Klontz and published by Crown Currency. This book was released on 2009-12-29 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do you overspend? Undersave? Keep secrets about money from a spouse or family member? Are you anxious about dealing with your finances? If so, you are not alone. Let's face it–just about all of have complicated, if not downright dysfunctional, relationships with money. As Drs. Brad and Ted Klontz, a father and son team of pioneers in the emerging field of financial psychology explain, our disordered relationships with money aren’t our fault. They don’t stem from a lack of knowledge or a failure of will. Instead, they are a product of subconscious beliefs and thought patterns, rooted in our childhoods, that are so deeply ingrained in us, they shape the way we deal with money our entire adult lives. But we are not powerless. By looking deep into ourselves and our pasts, we can learn to recognize these negative and self-defeating patterns of thinking, and replace them with better, healthier ones. Drawing on their decades of experience helping patients resolve their troubling issues with money, the Klontzes and describe the twelve most common “money disorders” - like financial infidelity, money avoidance, compulsive shopping, financial enabling, and more — and explain how we can learn to identify them, understand their root causes, and ultimately overcome them. So whether you want to learn how to make better financial decision, have more open communication with your spouse or kids about the family finances, or simply be better equipped to deal with the challenges of these tough economic times, this book will help you repair your dysfunctional relationship with money and live a healthier financial life.
Download or read book The Crowd written by Gustave Le Bon and published by . This book was released on 1897 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Development Report 1978 written by and published by World Bank Publications. This book was released on 1978 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first report deals with some of the major development issues confronting the developing countries and explores the relationship of the major trends in the international economy to them. It is designed to help clarify some of the linkages between the international economy and domestic strategies in the developing countries against the background of growing interdependence and increasing complexity in the world economy. It assesses the prospects for progress in accelerating growth and alleviating poverty, and identifies some of the major policy issues which will affect these prospects.
Book Synopsis The Ascent of Money by : Niall Ferguson
Download or read book The Ascent of Money written by Niall Ferguson and published by Penguin. This book was released on 2008-11-13 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 10th anniversary edition, with new chapters on the crash, Chimerica, and cryptocurrency "[An] excellent, just in time guide to the history of finance and financial crisis." —The Washington Post "Fascinating." —Fareed Zakaria, Newsweek In this updated edition, Niall Ferguson brings his classic financial history of the world up to the present day, tackling the populist backlash that followed the 2008 crisis, the descent of "Chimerica" into a trade war, and the advent of cryptocurrencies, such as Bitcoin, with his signature clarity and expert lens. The Ascent of Money reveals finance as the backbone of history, casting a new light on familiar events: the Renaissance enabled by Italian foreign exchange dealers, the French Revolution traced back to a stock market bubble, the 2008 crisis traced from America's bankruptcy capital, Memphis, to China's boomtown, Chongqing. We may resent the plutocrats of Wall Street but, as Ferguson argues, the evolution of finance has rivaled the importance of any technological innovation in the rise of civilization. Indeed, to study the ascent and descent of money is to study the rise and fall of Western power itself.
Book Synopsis Finance Fictions by : Arne De Boever
Download or read book Finance Fictions written by Arne De Boever and published by Fordham Univ Press. This book was released on 2018-03-06 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finance Fictions takes the measure of what it means to live in a world ruled by high finance by examining the tension between psychosis and realism that plays out in the contemporary finance novel. When the things traded at the center of the economy cease to be things at all, but highly abstracted speculations, how do we come to see the real? What sorts of narrative can accurately approach the actual workings of a neoliberal economy marked by accelerating cycles of market crashes, economic and political crisis, and austerity? Revisiting such twentieth-century classics of the genre as Tom Wolfe's Bonfire of the Vanities and Bret Easton Ellis’s American Psycho, De Boever argues that the twenty-first century is witnessing the birth of a new kind of realistic novel that can make sense of complex financial instruments like collateralized debt obligations, credit default swaps, and digital algorithms operating at speeds faster than what human beings or computers can record. If in 1989 Wolfe could still urge novelists to work harder to “tame the billion-footed beast of reality,” today’s economic reality confronts us with a difference that is qualitative rather than quantitative: a new financial ontology requiring new modes of thinking and writing. Mobilizing the philosophical thought of Quentin Meillassoux in the close reading of finance novels by Robert Harris, Michel Houellebecq, Ben Lerner and less well-known works of conceptual writing such as Mathew Timmons’ Credit, Finance Fictions argues that realism is in for a speculative update if it wants to take on the contemporary economy—an “if” whose implications turn out to be deeply political. Part literary study and part philosophical inquiry, Finance Fictions seeks to contribute to a new mindset for creative and critical work on finance in the twenty-first century.
Book Synopsis Policy and Choice by : William J. Congdon
Download or read book Policy and Choice written by William J. Congdon and published by Brookings Institution Press. This book was released on 2011 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychology.
Book Synopsis Thinking in Systems by : Donella Meadows
Download or read book Thinking in Systems written by Donella Meadows and published by Chelsea Green Publishing. This book was released on 2008-12-03 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic book on systems thinking—with more than half a million copies sold worldwide! "This is a fabulous book... This book opened my mind and reshaped the way I think about investing."—Forbes "Thinking in Systems is required reading for anyone hoping to run a successful company, community, or country. Learning how to think in systems is now part of change-agent literacy. And this is the best book of its kind."—Hunter Lovins In the years following her role as the lead author of the international bestseller, Limits to Growth—the first book to show the consequences of unchecked growth on a finite planet—Donella Meadows remained a pioneer of environmental and social analysis until her untimely death in 2001. Thinking in Systems is a concise and crucial book offering insight for problem solving on scales ranging from the personal to the global. Edited by the Sustainability Institute’s Diana Wright, this essential primer brings systems thinking out of the realm of computers and equations and into the tangible world, showing readers how to develop the systems-thinking skills that thought leaders across the globe consider critical for 21st-century life. Some of the biggest problems facing the world—war, hunger, poverty, and environmental degradation—are essentially system failures. They cannot be solved by fixing one piece in isolation from the others, because even seemingly minor details have enormous power to undermine the best efforts of too-narrow thinking. While readers will learn the conceptual tools and methods of systems thinking, the heart of the book is grander than methodology. Donella Meadows was known as much for nurturing positive outcomes as she was for delving into the science behind global dilemmas. She reminds readers to pay attention to what is important, not just what is quantifiable, to stay humble, and to stay a learner. In a world growing ever more complicated, crowded, and interdependent, Thinking in Systems helps readers avoid confusion and helplessness, the first step toward finding proactive and effective solutions.
Book Synopsis Devil Take the Hindmost by : Edward Chancellor
Download or read book Devil Take the Hindmost written by Edward Chancellor and published by Penguin. This book was released on 2000-06-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A lively, original, and challenging history of stock market speculation from the 17th century to present day. Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed—and not changed—over the last five hundred years? In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to “stockjobbing” in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, “I can calculate the motion of heavenly bodies, but not the madness of people.” Here are brokers underwriting risks that included highway robbery and the “assurance of female chastity”; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Ivan Boesky and Hillary Rodham Clinton. From the Gilded Age to the Roaring Twenties, from the nineteenth century railway mania to the crash of 1929, from junk bonds and the Japanese bubble economy to the day-traders of the Information Era, Devil Take the Hindmost tells a fascinating story of human dreams and folly through the ages.
Download or read book Willpower written by Roy F. Baumeister and published by Penguin. This book was released on 2011-09-01 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the world's most esteemed and influential psychologists, Roy F. Baumeister, teams with New York Times science writer John Tierney to reveal the secrets of self-control and how to master it. "Deep and provocative analysis of people's battle with temptation and masterful insights into understanding willpower: why we have it, why we don't, and how to build it. A terrific read." —Ravi Dhar, Yale School of Management, Director of Center for Customer Insights Pioneering research psychologist Roy F. Baumeister collaborates with New York Times science writer John Tierney to revolutionize our understanding of the most coveted human virtue: self-control. Drawing on cutting-edge research and the wisdom of real-life experts, Willpower shares lessons on how to focus our strength, resist temptation, and redirect our lives. It shows readers how to be realistic when setting goals, monitor their progress, and how to keep faith when they falter. By blending practical wisdom with the best of recent research science, Willpower makes it clear that whatever we seek—from happiness to good health to financial security—we won’t reach our goals without first learning to harness self-control.
