Overview

"This updated edition demystifies the complex and (to many) daunting principles and facts that experts have come to embrace as behavioral finance. The psychological concepts that influence wealth-related decisions and behaviors-for better or worse-are clearly presented and the scientific basis made clear. The mental and emotional landmines that can sabotage financial decision making are presented in an engaging and understandable manner, emphasizing how ""normal"" are their influences in our lives. Beyond that, the book provides behavioral guidelines for rational decision making that require conscious and unconscious awareness of the factors that influence wealth accumulation, on the one hand, and self-defeating ""money spilling,"" on the other. As the director of a clinical science doctoral program, this exemplifies, purely and simply, ""evidence-based practice"" of the highest order. This is not pop psychology; rather, it is informed by a solid scientific base. - Foreword by Ronald Smith, psychology professor and former Director of the Clinical Psychology Training Program at the University of Washington."

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9781952685279

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Reviews

I know Paul better than I know Warren Buffet, but I know them both well enough to see tremendous similarities in their investment style. Both have a tremendous grasp of the importance temperament plays in an investor's success. They both know how to take advantage of the investment opportunities that are created when emotion and mass hysteria infect the investment markets from time to time. --David Cohn, Former Regent, University of Washington I want to express my admiration for what Paul has achieved in this book. It makes a significant and unique contribution that is destined to have a major impact on the wealth accumulation of many people. The psychological concepts that influence wealth-related decisions and behaviors for better or worse are clearly presented and the scientific basis made clear. The mental and emotional landmines that can sabotage financial decision making are presented in an engaging and understandable manner, emphasizing how normal their influences are in our lives. This book is not pop psychology; rather, it is informed by a solid scientific base. I believe it has the potential to become a best seller. --Ronald E. Smith, PhD, Psychology Professor, University of Washington, Former Director, UW Clinical Psychology Program This book manages to take the research on financial decision making and translate it into understandable and workable advice for the general public. It also emphasizes that building financial wealth gives us the freedom to build non-financial wealth. Few investment books mention that 'Mere financial capital (money) doesn't make a person wealthy.' This book does. --Pam Whalley, Director, Center for Economic and Financial Education, Western Washington University Warren Buffet says to be a success, You only have to do a very few things right in your life so long as you don't do too many things wrong. Paul's book does a wonderful job of helping us understand the few most important financial decisions we must get right, as well as showing how to protect ourselves from the worst impulses that tend to sink our financial ship. And if that isn't reason enough to get this book, consider that the book's Appendix E contains a brilliantly written summary by Erik Johnson of Nobel laureate Daniel Kahneman's 500-page masterpiece, Thinking, Fast and Slow. --Paul Merriman, Financial Contributor: MarketWatch, Chairman: Merriman Financial Education Foundation Kudos to Paul Heys for this wise and lucid guide to financial and psychological wealth. By applying and simplifying economic and cognitive science, he shows us the path to both fiscal fitness and human flourishing. --David Myers, Ph.D, Psychology Professor, Hope College, Co-Author: Psychology, 12th Edition Paul has guided our financial affairs for the past 46years. His steady hand on the controls of our investments has enabled us to touchdown smoothly at our financial destination. We might have made it without him, but it wouldn't have been as smooth a flight, as short a trip, or as enjoyable a ride. He is a man of rare intellect and real integrity, and the world's greatest financial co-pilot. --Clint Viebrock, Captain, Retired, Delta Airlines

"""I know Paul better than I know Warren Buffet, but I know them both well enough to see tremendous similarities in their investment style. Both have a tremendous grasp of the importance ""temperament"" plays in an investor's success. They both know how to take advantage of the investment opportunities that are created when emotion and mass hysteria infect the investment markets from time to time."" --David Cohn, Former Regent, University of Washington ""I want to express my admiration for what Paul has achieved in this book. It makes a significant and unique contribution that is destined to have a major impact on the wealth accumulation of many people. The psychological concepts that influence wealth-related decisions and behaviors for better or worse are clearly presented and the scientific basis made clear. The mental and emotional landmines that can sabotage financial decision making are presented in an engaging and understandable manner, emphasizing how ""normal"" their influences are in our lives. This book is not pop psychology; rather, it is informed by a solid scientific base. I believe it has the potential to become a best seller. "" --Ronald E. Smith, PhD, Psychology Professor, University of Washington, Former Director, UW Clinical Psychology Program ""This book manages to take the research on financial decision making and translate it into understandable and workable advice for the general public. It also emphasizes that building financial wealth gives us the freedom to build non-financial wealth. Few investment books mention that 'Mere financial capital (money) doesn't make a person wealthy.' This book does."" --Pam Whalley, Director, Center for Economic and Financial Education, Western Washington University ""Warren Buffet says to be a success, ""You only have to do a very few things right in your life so long as you don't do too many things wrong."" Paul's book does a wonderful job of helping us understand the few most important financial decisions we must get right, as well as showing how to protect ourselves from the worst impulses that tend to sink our financial ship. And if that isn't reason enough to get this book, consider that the book's Appendix E contains a brilliantly written summary by Erik Johnson of Nobel laureate Daniel Kahneman's 500-page masterpiece, Thinking, Fast and Slow."" --Paul Merriman, Financial Contributor: MarketWatch, Chairman: Merriman Financial Education Foundation ""Kudos to Paul Heys for this wise and lucid guide to financial and psychological wealth. By applying and simplifying economic and cognitive science, he shows us the path to both fiscal fitness and human flourishing."" --David Myers, Ph.D, Psychology Professor, Hope College, Co-Author: Psychology, 12th Edition ""Paul has guided our financial affairs for the past 46years. His steady hand on the controls of our investments has enabled us to touchdown smoothly at our financial destination. We might have made it without him, but it wouldn't have been as smooth a flight, as short a trip, or as enjoyable a ride. He is a man of rare intellect and real integrity, and the world's greatest financial co-pilot."" --Clint Viebrock, Captain, Retired, Delta Airlines"

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