Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing
(Adobe EPUB eBook, Kindle Book, OverDrive Read)
One of Money Week’s Five Best Books of the Year
Investors are tempted daily by misleading or incomplete information. They may make a lucky bet, realize a sizable profit, and find themselves full of confidence. Their next high-stakes gamble might backfire, not only hitting them in the balance sheet but also taking a mental and emotional toll. Even veteran investors can be caught off guard: a news item may suddenly cause havoc for an industry they’ve invested in; crowd mentality among fellow investors may skew the market; a CEO may turn out to be unprepared to effectively guide a company. How can one stay focused in such a volatile world? If you can’t trust your past successes to plan and predict, how can you avoid risky situations in the future?
Patience and methodical planning will pay far greater dividends than flashy investments. In Big Money Thinks Small, veteran fund manager Joel Tillinghast shows investors how to avoid making these mistakes. He offers a set of simple but crucial steps to successful investing, including:
· Know yourself, how you arrive at decisions, and how you might be susceptible to self-deception
· Make decisions based on your own expertise, and do not invest in what you don’t understand
· Select only trustworthy and capable colleagues and collaborators
· Learn how to identify and avoid investments with inherent flaws
· Always search for bargains, and never forget that the first responsibility of an investor is to identify mispriced stocks
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Joel Tillinghast. (2017). Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing. Columbia University Press.
Chicago / Turabian - Author Date Citation (style guide)Joel Tillinghast. 2017. Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing. Columbia University Press.
Chicago / Turabian - Humanities Citation (style guide)Joel Tillinghast, Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing. Columbia University Press, 2017.
MLA Citation (style guide)Joel Tillinghast. Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing. Columbia University Press, 2017.
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- Market mistakes to avoid: “Written for investors at all levels…[a] practical, no-nonsense guide.”—Publishers Weekly
One of Money Week’s Five Best Books of the Year
Investors are tempted daily by misleading or incomplete information. They may make a lucky bet, realize a sizable profit, and find themselves full of confidence. Their next high-stakes gamble might backfire, not only hitting them in the balance sheet but also taking a mental and emotional toll. Even veteran investors can be caught off guard: a news item may suddenly cause havoc for an industry they’ve invested in; crowd mentality among fellow investors may skew the market; a CEO may turn out to be unprepared to effectively guide a company. How can one stay focused in such a volatile world? If you can’t trust your past successes to plan and predict, how can you avoid risky situations in the future?
Patience and methodical planning will pay far greater dividends than flashy investments. In Big Money Thinks Small, veteran fund manager Joel Tillinghast shows investors how to avoid making these mistakes. He offers a set of simple but crucial steps to successful investing, including:
· Know yourself, how you arrive at decisions, and how you might be susceptible to self-deception
· Make decisions based on your own expertise, and do not invest in what you don’t understand
· Select only trustworthy and capable colleagues and collaborators
· Learn how to identify and avoid investments with inherent flaws
· Always search for bargains, and never forget that the first responsibility of an investor is to identify mispriced stocks - reviews
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- source: David Kass, University of Maryland
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"Tillinghast provides a very useful checklist of the required due diligence of investments, the tenets of value investing, the need to more carefully understand the culture and rule of law of foreign countries before investing in them, and how to stay within your circle of competence."
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May 29, 2017
Tillinghast, longtime manager of the Fidelity Low-Priced Stock Fund, gives sage advice on successful stock market investing in this informative manual. He acknowledges that investing is inherently unpredictable, but does have tips for avoiding common mistakes and increasing the odds in your favor. Some advice is fairly basic, such as his discussion of selecting reliable, ethical money managers, while other pointers are more complicated, such as the information he provides on learning to value stocks properly. Tillinghast addresses pertinent questions including how to anticipate and prepare for changes in a market. He also explores the fallibility of human judgment, later offering as contrast an inventory of the psychological traits of successful investors. One of the most cogent tips he offers is to only invest in businesses that you understand. By understand, Tillinghast means knowing what every segment of an industry does and how each one makes money. Written for investors at all levels, this practical, no-nonsense guide doesn’t provide specifics on where to invest but does empower readers to generate their own informed decisions.
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One of Money Week’s Five Best Books of the Year
Investors are tempted daily by misleading or incomplete information. They may make a lucky bet, realize a sizable profit, and find themselves full of confidence. Their next high-stakes gamble might backfire, not only hitting them in the balance sheet but also taking a mental and emotional toll. Even veteran investors can be caught off guard: a news item may suddenly cause havoc for an industry they’ve invested in; crowd mentality among fellow investors may skew the market; a CEO may turn out to be unprepared to effectively guide a company. How can one stay focused in such a volatile world? If you can’t trust your past successes to plan and predict, how can you avoid risky situations in the future?
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Foreword
Acknowledgments
Part I: Sleight of Mind
1. It's a Mad, Mad World
2. Silly Human Tricks (Decision Biases)
3. Gamblers, Speculators, and Investors
4. Mind Over Money
Part II: Blind Spots
5. Need to Know?
6. It's the Simple Life for Me
7. Thinking Small
8. Bulls in the China Shop
Part III: Honest, Capable Fiduciaries
9. Dare to Be Great! Or, Distinctive Character
10. Bang for the Buck
11. Do the Bad Guys Wear Black Hats?
12. Shipping Bricks and Other Accounting Riddles
Part IV: Live Long and Prosper
13. Is the End Near?
14. Oil Gushers and Slicks
15. Tech Stocks and Science Fiction
16. How Much Debt Is Too Much?
Part V: What's It Worth?
17. Will the Lowest Be Raised Up?
18. Which Earnings Number?
19. The Art of Judging Value
20. Double Bubble Trouble
21. Two Paradigms
Index- bisacCodes
- code: BUS036070
- description: Business & Economics / Investments & Securities / Analysis & Trading Strategies
- code: BUS036090
- description: Business & Economics / Investments & Securities / Portfolio Management
- code: BUS050020
- description: Business & Economics / Personal Finance / Investing
