What I Learned Losing a Million Dollars (Columbia Business

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What I Learned Losing a Million Dollars (Columbia Business School Publishing)

Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it allâ€•his fortune, his reputation, and his jobâ€•in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors.

This bookâ€•winner of a 2014 Axiom Business Book award gold medalâ€•begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from itâ€•primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources.

Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.
Country USA
Brand Columbia University Press
Manufacturer Columbia Business School Publishing
Binding Hardcover
ItemPartNumber 36965954
UnitCount 1
EANs 9780231164689
ReleaseDate 2013-04-09

Country	USA
Brand	Columbia University Press
Manufacturer	Columbia Business School Publishing
Binding	Hardcover
ItemPartNumber	36965954
UnitCount	1
EANs	9780231164689
ReleaseDate	2013-04-09

What I Learned Losing a Million Dollars (Columbia Business School Publishing)

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