Beyond Greed and Fear: Understanding Behavioural Finance and the Psychology of Investing (Financial Management Association Survey and Synthesis Series)

Hersh Shefrin

ISBN 10: 0875848729 / ISBN 13: 9780875848723

Published by Oxford University Press Inc, USA, 2000

About this Item

**SHIPPED FROM UK** We believe you will be completely satisfied with our quick and reliable service. All orders are dispatched as swiftly as possible! Buy with confidence! Greener Books.

Seller Inventory # 4907026

Bibliographic Details

• Title: Beyond Greed and Fear: Understanding Behavioural Finance and the Psychology of Investing (Financial Management Association Survey and Synthesis Series)
• Publisher: Oxford University Press Inc, USA
• Publication Date: 2000
• Language: English
• ISBN 10: 0875848729
• ISBN 13: 9780875848723
• Binding: Hardcover
• Condition: Used; Very Good

About this title

Synopsis

Bias, sentiment and personal opinions cloud the judgement of even the best Wall Street investors, so why do most financial decision-making models fail to factor in basic human nature? In this work, a guide to what really influences the decision-making process, Hersh Shefrin applies psychological research to stock selection, financial services, and corporate financial strategy. Through colourful, often real-world examples, Shefrin points out the common mistakes that money managers, security analysts, financial planners, investment bankers and corporate leaders make so that readers gain insights into their own financial decisions.

Review

Psychology rules the stock market, according to Hersh Shefrin. In Beyond Greed and Fear, Shefrin shows how bias, perception and other aspects of psychology often rattle investors and move stocks. From the individual who keeps losers too long, to overconfident money managers who mistakenly think they can predict financial trends, human nature foils investment returns. "Behavioral finance is everywhere that people make financial decisions. Psychology is hard to escape; it touches every corner of the financial landscape, and it's important. Financial practitioners need to understand the impact that psychology has on them and those around them. Practitioners ignore psychology at their peril", writes Shefrin, a finance professor at Santa Clara University. An academic volume geared toward financial professionals, the book details an emerging field known as behavioural finance, in which psychology is believed to be at least as important as market fundamentals such as earnings and balance sheets. Shefrin describes how investors are motivated by fear, hope, overconfidence and the need for short-term gratification. The book gives plenty of examples of investment mistakes, and analyses them from a behavioural finance perspective. While Beyond Greed and Fear targets professionals, individual investors will benefit from this look at an important mover of markets. --Dan Ring, Amazon.com