"If there should be any chasing of undervalued assets, it should be of our emotional brain. We should take the time to understand, study, use, and access this one asset more than any stocks, bonds, funds, or instruments that we would ever own. Over time, the more we use it and get to know it, the more it will appreciate in value and deliver wealth that is beyond any asset type."
As an investment adviser to high-net-worth individuals, Wai-Yee Chen has spent many years observing clients make investment decisions—some good, some not so good, and some downright disastrous. Though privy to the identical data and fully informed about the same market variables, those clients often will make radically divergent choices with predictably different results.
Why? What is the difference between the person who makes wise and rewarding investment decisions and the one who works against his or her own best interests?
You can rule out intelligence, since some of the smartest people make some of the dumbest investment decisions. Regarding instinct—as in having a "nose" for a good investment— interesting idea, but impossible to prove. You could theorize about the existence of a special "investor gene," ESP, or even magic, but such speculations are best left to science fiction authors and Harry Potter fans.
So what's left? What is the quality, that certain je ne sais quoi, that distinguishes the successful investor from the unsuccessful one?
The answer, according to Wai-Yee Chen, can be found in neuroscience—the study of how the brain works and how people think. And now, in this groundbreaking guide to making better investing decisions, she takes you on a fascinating journey deep inside the human mind to reveal the complex dance of reason and emotion, logic and impulse, fear and aggression, the instinct to survive and the desire for status that informs people's investment decision-making process.
More important, Ms. Chen draws upon the latest findings in neuroscience and cognitive psychology, as well as her years of experience as a professional investment adviser, to show you how to change the way you think in order to change the way you invest.
With the help of revealing self-assessments, simple exercises, and many real-world examples, she shares proven strategies and techniques for asserting greater conscious control over your innate and learned behaviors and, in essence, rewiring your brain for better investing decisions and consistently better returns.
It's time to stop allowing unruly impulses and emotions to lure you into illogical, self-destructive investment decisions. Read NeuroInvesting and discover how to build a new investing brain for better returns and greater tranquility and peace of mind.
Praise for NeuroInvesting
"NeuroInvesting boldly breaks new and critically important ground in the fields of investor psychology and strategy. By combining cutting-edge neuroscience with a deep understanding of the mind of the investor, Wai-Yee Chen insightfully probes the nuances of how to effectively create winning portfolios. NeuroInvesting represents a major advance in practical investment psychology and strategic decision-making, as well as significantly developing the application of neuroscience to enhanced self-control and awareness. Reading and reflecting upon this work of Wai-Yee Chen will significantly enhance any investor's ability to trade with confidence, intelligence, and perhaps most importantly, wisdom."
—Jeffrey M. Schwartz, MD, Research Psychiatrist University of California, Los Angeles author of You Are Not Your Brain and The Mind & The Brain
"NeuroInvesting presents some interesting ideas that most traders and investors will not have considered. You can take a test to determine your dominant personality traits and then learn 1) where your weaknesses are as an investor and 2) how your brain contributes to those tendencies. Plus, the book is full of interesting ideas such as 'avoid a big meal of steak and wine during a bear market.' If you want to step outside of the box and explore how your brain works, then you will probably enjoy this book."
—Van Tharp, PhD, author of Trading Beyond the Matrix
"This thought-provoking and adroit book provides a masterful synthesis of many fields of research. Wai-Yee Chen cogently weaves together relevant areas of neuroscience, psychology, and investing to provide an illuminating analysis of investment related to the economy. A great read!"
—John B. Arden, PhD, author of Rewire Your Brain: Think Your Way to a Better Life
"This is a remarkable book. Wai-Yee Chen shows how neuroscience promises further to advance our knowledge of financial markets by identifying the neural processes that motivate investors' decisions. In particular, the book examines the brain's role in minimising threat and increasing reward. The result is a very enjoyable and easy-to-read insight into how the behaviour of large groups of consumers or investors can and does impact financial markets. This book should be required reading, not only for those involved in financial investment, but also for all those who have to make business decisions."
—Colin Wallace, PhD The Center for Applied Neuroscience
"It is hard to overcome your psychological biases . . . so don't! Use them to your benefit. NeuroInvesting shows you how to understand your own personality traits and then invest with a style that is consistent. Brilliant!"
—John Nofsinger, PhD author of The Psychology of Investing
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