Markets Never Forget (But People Do) - How Your Memory Is Costing You Money And Why This Time Isn t

Informationen zum Autor KEN FISHER is best known for his prestigious "Portfolio Strategy" column in Forbes magazine, where his over 27-year tenure of high-profile calls makes him the fourth longest-running columnist in Forbes 's 90-plus year history. He is the founder, Chairman and CEO of Fisher Investments, an independent global money management firm managing tens of billions for individuals and institutions globally. Fisher is ranked #252 on the 2010 Forbes 400 list of richest Americans, and #736 on the 2011 Forbes global billionaires list. In 2010, Investment Advisor magazine named him among the 30 most influential individuals of the last three decades. Fisher has authored numerous professional and scholarly articles, including the award-winning "Cognitive Biases in Market Forecasting." He has also published seven previous books, including New York Times and Wall Street Journal bestsellers, The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat and Debunkery , all published by Wiley. Fisher has been published, interviewed and/or written about in many major American, British and German finance or business periodicals. He has a weekly column in Focus Money , Germany's leading weekly finance and business magazine. LARA HOFFMANS is a content manager at Fisher Investments, managing editor of MarketMinder.com, a regular contributor to Forbes.com and co-author of the bestsellers, The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat and Debunkery. Klappentext Sir John Templeton, legendary investor, was famous for saying, "The four most dangerous words in investing are, 'This time it's different.'" He knew that though history doesn't repeat, not exactly, history is an excellent guide for investors.In Markets Never Forget But People Do: How Your Memory Is Costing You Money and Why This Time Isn't Different, long-time Forbes columnist, CEO of Fisher Investments, and 4-time New York Times bestselling author Ken Fisher shows how and why investors' memories fail them--and how costly that can be. More important, he shows steps investors can take to begin reducing errors they repeatedly make. The past is never indicative of the future, but history can be one powerful guide in shaping forward looking expectations. Readers can learn how to see the world more clearly--and learn to make fewer errors--by understanding just a bit of investing past. Zusammenfassung Sir John Templeton, legendary investor, was famous for saying, "The four most dangerous words in investing are, 'This time it's different.'" He knew that though history doesn't repeat, not exactly, history is an excellent guide for investors.In Markets Never Forget But People Do: How Your Memory Is Costing You Money and Why This Time Isn't Different, long-time Forbes columnist, CEO of Fisher Investments, and 4-time New York Times bestselling author Ken Fisher shows how and why investors' memories fail them--and how costly that can be. More important, he shows steps investors can take to begin reducing errors they repeatedly make. The past is never indicative of the future, but history can be one powerful guide in shaping forward looking expectations. Readers can learn how to see the world more clearly--and learn to make fewer errors--by understanding just a bit of investing past. Inhaltsverzeichnis Preface ix Acknowledgments xvii Chapter 1 The Plain-Old Normal 1 Yes Sir, Sir John 1 The Normal Normal 5 The Jobless Recovery 14 The Always Feared, Rarely Seen Double Dip 23 Chapter 2 Fooled by Averages 31 Bull Markets Are Inherently Above Average 32 Viva the V 36 Normal Returns Are Extreme, Not Average 47 The Pause That Refreshes (and Confuses) 49 Getting Average Returns Is Hard-Really Hard 53 Chapter ...

List of contents

Preface ix
 
Acknowledgments xvii
 
Chapter 1 The Plain-Old Normal 1
 
Yes Sir, Sir John 1
 
The Normal Normal 5
 
The Jobless Recovery 14
 
The Always Feared, Rarely Seen Double Dip 23
 
Chapter 2 Fooled by Averages 31
 
Bull Markets Are Inherently Above Average 32
 
Viva the V 36
 
Normal Returns Are Extreme, Not Average 47
 
The Pause That Refreshes (and Confuses) 49
 
Getting Average Returns Is Hard--Really Hard 53
 
Chapter 3 Volatility Is Normal--and Volatile 57
 
What the Heck Is Volatility? 58
 
Volatility Is Volatile 61
 
The Daily Grind 65
 
Stocks Are Less Volatile Than Bonds? 67
 
Economic Volatility--Also Normal 69
 
Volatility Isn't Inherently Bad 71
 
Never a Dull Moment 74
 
Chapter 4 Secular Bear? (Secular) Bull! 81
 
Seeing the World Through Bear- Colored Glasses 82
 
Two Secular Bear Markets? 84
 
Stocks--Up Vastly More Than Down 90
 
Chapter 5 Debt and Deficient Thinking 101
 
Deficits Aren't Bad, but Surpluses Will Kill You 105
 
The History of Big Government Debt 110
 
Just Who Is at Default Here? 116
 
Chapter 6 Long- Term Love and Other Investing Errors 123
 
No One Category Is Best for All Time 124
 
Long- Term Love Is Like Long- Term Forecasting--Both Wrong 129
 
It's Still Heat Chasing Even When It Seems Safe 134
 
Use History to Your Advantage 146
 
Chapter 7 Poli-Ticking 151
 
Enter the Ideology- Free Zone 152
 
Your Party Isn't Better 153
 
Presidents and Risk Aversion 155
 
Perverse Inverse--It's Four and One 160
 
Poli- Tics Go Global 170
 
Poli- Tics Versus Entrepreneurs 172
 
Chapter 8 It's (Always Been) a Global World, After All 177
 
It's Always Been a Small World 179
 
Seeing the World Right 186
 
Conclusion 194
 
Appendix 197
 
Notes 201
 
Index 211

Product details

• Authors: K Fisher, Ken Fisher, Kenneth Fisher, Kenneth L Fisher, Kenneth L. Fisher, Kenneth L. Hoffmans Fisher, Fisher Kenneth L., Lara Hoffmans, Lara W Hoffmans, Lara W. Hoffmans
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 11.11.2011
• EAN: 9781118091548
• ISBN: 978-1-118-09154-8
• No. of pages: 240
• Assisted by: Lara W. Hoffmans
• Subjects: Social sciences, law, business > Business > Business administration; Kapitalanlage, Finance & Investments, Finanz- u. Anlagewesen, Kapitalanlagen u. Wertpapiere, Investments & Securities