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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Expert advice in a back-to-basics handbook on how to beat the market-the classic way

In Investment Psychology Explained Martin J. Pring, one of the most respected independent investment advisors in the world, argues that in the revisionist '90s there are no quick, magical paths to market success. Rather, he emphasizes the timeless values of hard work, patience, and self-discipline-and much more. Drawing on the wisdom of creative investors such as Jesse Livermore, Humphrey Neill, and Barnard Baruch, as well as his own experience, Pring shows how to:
* Overcome emotional and psychological impediments that distort decision making
* Map out an independent investment plan-and stick to it
* Know when to buck herd opinion-and "go contrarian"
* Dispense with the myths and delusions that drag down other investors
* Resist the fads and so-called experts whose siren call to success can lead to disaster
* Exploit fast-breaking news events that rock the market
* Deal skillfully with brokers and money managers
* Learn and understand the rules that separate the truly great investors and traders from the rest

Reading Investment Psychology Explained will give you a renewed appreciation of the classic trading principles that, through bull and bear markets, have worked time and again. You'll see, with the help of numerous illustrative examples, what goes into making an effective investor-and how you can work toward achieving that successful profile.
 

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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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