What will you learn from this book
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Interdisciplinary Approach: Encouraging investors to draw insights from various fields like psychology, sociology, history, and economics to make informed investment decisions.
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Critical Thinking: Emphasizing the importance of critical thinking and a holistic perspective when analyzing investment opportunities and market trends.
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Understanding Human Behavior: Acknowledging the impact of human behavior, emotions, and biases on investment decisions and market movements.
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Long-Term Perspective: Focusing on long-term investing strategies rather than short-term speculation, aligning investments with personal goals and values.
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Diversification: Stressing the significance of diversifying investments across asset classes and industries to manage risk effectively.
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Learning from History: Recognizing the value of historical analysis in understanding market cycles, trends, and patterns to make informed investment decisions.
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Adaptive Learning: Encouraging continuous learning and adaptation in response to changing market conditions, technological advancements, and global events.
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Risk Management: Highlighting the importance of risk assessment and mitigation strategies, aligning risk tolerance with investment objectives.
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Valuation Principles: Exploring different valuation methodologies and their applications in evaluating investment opportunities.
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Ethical Considerations: Integrating ethical considerations into investment decisions, understanding the social impact of investments, and aligning investments with personal values.
| Language | English |
|---|---|
| ISBN-10 | 978-1587991387 |
| ISBN-13 | 978-1587991387 |
| No of pages | 224 |
| Font Size | Medium |
| Book Publisher | Texere |
| Published Date | 02 Apr 2002 |
About Author
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Robert G. Hagstrom is one of the best-known authors of investment books for general audiences. Turning his extensive experience as a portfolio manager at Legg Mason Capital Management into valuable guidance for professionals and nonprofessionals alike, he is the author of six successful books on investment, including The Warren Buffett Way, a New York Times best-seller that has sold more than a million copies. In this updated second edition of Investing:
The Last Liberal Art, Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. He discusses, for instance, how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger's famous "latticework of mental models" concept, Hagstrom argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone.
He reinforces his concepts with additional data and a new chapter on mathematics, and updates his text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. He has also added a hundred new titles to the invaluable reading list concluding the book. Praise for the first edition: "I read this book in one sitting: I could not put it down."-Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk "Elegant and irresistible.
Robert G. Hagstrom makes the complex clear as he confidently crisscrosses through the disciplines of finance, biology, physics, and literature. The only way to understand investing better, [Investing] shows, is to understand the world better. Ideas spark off the page at every turn. This is simply a gem of a book."-James Surowiecki, New Yorker "Investing is a brisk and engaging read, and it is a pleasure to be in the presence of Hagstrom's agile mind."-International Herald Tribune