Investment Psychology Explained: Classic Strategies to Beat the Markets

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John Wiley & Sons, Nov 3, 1995 - Business & Economics - 288 pages
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Fueled by euphoria, greed, and even fear, the giddy economic ride of the 1980s was ultimately, for many, an unfortunate one. The fundamentals of sound portfolio management got lost along the way, and as an inevitable consequence, many investors simply crashed and burned. The revisionist '90s demand a no-nonsense approach that puts a premium on classic investment philosophy, psychology, and strategy. And nowhere will you find this bracing attitude more clearly and practically embodied than in Martin Pring's new clarion call for investors: Investment Psychology Explained. Written by one of the most respected independent investment advisors in the world, whose bestselling books, videos, and newsletters have prudently guided thousands of investors through bullish and bearish times, Investment Psychology Explained emphasizes that investors have to be more analytical and less impulsive to flourish in today's market. Arguing that there are no quick, magical paths to market success, Pring draws instead from the wisdom of many creative investors, including Jesse Livermore, Humphrey Neill, and Bernard Baruch, as well as from his own experience, and distills their thought into one convenient, back-to-basics handbook. With Investment Psychology Explained at your side, you'll learn how to stay one step ahead through the application of the age-old verities - hard work, common sense, patience, and discipline. With the help of numerous examples, past and present, you'll discover how to create and stick to an independent investment plan - and avoid being carried away by fads or quick-fix "experts," buck the conventional wisdom at the right times - and know how and when to "go contrarian," shake off thedelusions and myths that ensnare too many investors - and develop profitable habits and attitudes instead, allow objective analysis rather than emotions to guide your decision making, stay the course with investment strategies and not shed them prematurely if there is no short-te
  

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Contents

Introduction
1
There Is No Holy Grail
9
How to Be Objective
24
Independent Thinking
47
Pride Goes Before a Loss
67
Patience Is a Profitable Virtue
79
Staying the Course
89
A New Look at Contrary Opinion
109
How to Profit from Newsbreaks
154
Dealing with Brokers and Money
167
What Makes a Great Trader or Investor?
183
Nineteen Trading Rules for Greater Profits
205
Making a Plan and Sticking to It
224
Classic Trading Rules
244
Bibliography
267
Copyright

When to Go Contrary
134

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About the author (1995)

MARTIN J. PRING is publisher of the highly regarded newsletter, The Pring Market Review. A frequent contributor to Barron's and other leading investment periodicals, he is the author of The All-Season Investor, the bestselling Technical Analysis Explained, and a number of other books on interest rates, international investing, and commodities and futures.

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