Irrational Markets and Lizard brains

Terry Burnham

310 pages, parution le 17/03/2005

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Résumé

Everyone from journalists to market pros are turning to behavioral finance to explain, analyze, and predict market direction. In contrast to old-school assumptions of cool-headed rationality, the new behavioral school embraces hot-blooded human irrationality as a core feature of both individuals and financial markets. The 2002 Nobel Prize in Economics was awarded to scholars of this new scientific approach to irrationality. In Mean Markets and Lizard Brains, Terry Burnham, an economist who has a proven ability to translate complex topics into everyday language, reveals the biological causes of irrationality. The human brain contains ancient structures that exert powerful and often unconscious influences on behavior. This "lizard brain" may have helped our ancestors eat and reproduce, but it wreaks havoc with our finances. Going far beyond cataloguing our financial foibles, Dr. Burnham applies this novel approach to all of today's most important financial topics: the stock market, the economy, real estate, bonds, mortgages, inflation, and savings.

This broad and scholarly investigation provides an in-depth look at why manias, panics, and crashes happen, and why people are built to want to buy at irrationally high prices and sell at irrationally low prices. Most importantly, by incorporating the new science of irrationality, readers can position themselves to profit from financial markets that often seem downright mean. Mean Markets and Lizard Brains skillfully identifies the craziness that is part of human nature, helps us see it in ourselves, and then shows us how to profit from a world that doesn't always make sense.

Sommaire

Chapter One Introduction: Mean Markets and Lizard Brains
The New Science Of Irrationality
- Chapter Two Crazy People: Lizard Brains and the New Science of Irrationality
- Chapter Three Crazy World: Mean Markets and the New Science of Irrationality
The Old Art Of Macroeconomics
- Chapter Four US Economic Snapshot: America the Talented Debtor
- Chapter Five Inflation: Rising Prices and Shrinking Dollars
- Chapter Six Deficits and Dollars: Uncle Sam the International Beggar
Applying Science And Art To Bonds, Stocks, And Real Estate
- Chapter Seven Bonds: Are they only for Wimps?
- Chapter Eight Stocks: For the Long Run or for Losers?
- Chapter Nine Real Estate: Live in your home; make your money at work
Profiting From The New Science Of Irrationality
- Chapter Ten Timeless Advice: How to Shackle the Lizard Brain
- Chapter Eleven Timely Advice: Investing in the Meanest of Markets

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Wiley
Auteur(s)	Terry Burnham
Parution	17/03/2005
Nb. de pages	310
Format	16 x 23,5
Couverture	Relié
Poids	510g
Intérieur	Noir et Blanc
EAN13	9780471602453
ISBN13	978-0-471-60245-3