The Laws of Wealth: Psychology and the secret to investing success

February 9, 2020 - Comment

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

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!

Product Features

  • Harriman House Publishing

Comments

Anonymous says:

Rule-based investing avoids behavioral finance traps Psychologist Daniel Crosby works in the field of behavioral finance. “Given that you, as a member of the human family, have tendencies toward impatience, arrogance and a fetish for complexity, it is very likely that you will screw this up… At my last count, psychologists and economists had documented 117 biases capable of obscuring lucid financial decision-making.”Crosby presents 10 rules of behavioral self-management.Rule #1 – You Control What Matters Most. “The…

Anonymous says:

Well done, Daniel! I have read numerous books on behavioral finance, as I believe it to be an essential skill set for today’s advisors and investors, and Daniel’s new book is one of my favorites. As a financial professional, I work day-to-day with clients on the behavioral side of financial decisions; and having a book such as this one is a tremendous asset. Dare I say that, in today’s changing marketplace, if your’e a financial pro that is NOT focusing on investor behavior and behavioral coaching in your…

Anonymous says:

Superb look into how human behavior affects investment strategy. I absolutely loved this book. It’s the first book that I have read cover to cover in years. I would carry it with me in my purse so that if there was down time waiting in an Uber, before an appt, in the airport, etc that I could read more. The book highlights the role of human behavior in investment decisions. One would think that we are all rational, homo economici making the best long-term savings strategies for ourselves, but Crosby points out that we are all susceptible to impulse,…

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