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February 2024 MBR The Money/Finance Shelf
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Midwest Book Review
Feb 19, 2024, 8:30:47 PMFeb 19
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The Money/Finance Shelf
Wall Street Lessons
James E. Demmert
https://www.jamesdemmert.com
New Insights Press
https://newinsightspress.com
9798986016351, $30.00 Hardcover/$15.99 Paper/$9.99 ebook
https://www.amazon.com/Wall-Street-Lessons-Overcoming-Greed/dp/B0CJYXRDQG
Wall Street Lessons: Overcoming Fear, Greed, and Being Your Own Worst Enemy is a deep dive into investment strategies that takes a much different path to building wealth than the usual financial advice on investing. James E. Demmert offers an unusual insight in his book -- that the human brain is not wired for investing. This perspective contrasts boldly with the innuendos of most investment strategy books that seem to assume that the drive to invest is built into the human psyche.
Demmert supports his argument by reviewing how 12 psychological blunders are often made by investors, based on investment choices made with their emotions rather than based on a rational investment approach. The problem with typical investment decisions is that they are driven by either fear, greed, or both, which causes a shoot-from-the-hip response. Such blunders lead people to either take more risks than they can afford or reject opportunities to make good financial decisions.
For example, one of the blunders Demmert discusses is the "crowd effect," also called the "herd mentality." Although the market is generally efficient, the crowd effect can sometimes motivate people to follow what thousands or millions of others are investing in, creating a temporary market bubble due to "irrational exuberance." Such behaviors, assumptions, and errors that negatively impact investment choices are analyzed in detail in the book, along with a review of traditional investment theories on Wall Street that simply no longer work, such as modern portfolio theory.
To counteract fear and greed investing, Demmert offers comprehensive guidance on rational investing according to a set of fundamental principles and specific steps that investors need to take to minimize their risks while maximizing their profits over the long term. Packed with charts, examples from Demmert's work with clients, and keen insights into understanding how the stock market works in patterns aligned with economic cycles, Wall Street Lessons is filled with practical advice for better investment strategies. This makes it a top recommendation for business, novice investors, and financial discussion group audiences interested in improving their knowledge of stock market investing and wealth building.
EDITOR'S NOTE:
The Midwest Book Review is an organization of volunteers committed to promoting literacy, library usage, and small press publishing. We accept no funds from authors or publishers. Full permission is given to post any of these reviews on thematically appropriate websites, newsgroups, listserves, internet discussion groups, organizational newsletters, or to interested individuals. Please give the Midwest Book Review a credit line when doing so.
The Midwest Book Review publishes the monthly book review magazines "California Bookwatch", "Internet Bookwatch", "Children's Bookwatch", "MBR Bookwatch", "Reviewer's Bookwatch", and "Small Press Bookwatch". All are available for free on the Midwest Book Review website at www (dot) midwestbookreview (dot) com
Anyone wanting to submit books for review consideration can send them to:
James A. Cox, Editor-in-Chief
Midwest Book Review
278 Orchard Drive
Oregon, WI 53575-1129
To submit reviews of any fiction or non-fiction books, email them to Frugalmuse (at) aol (dot) com (Be sure to include the book title, author, publisher, publisher address, publisher website/phone number, 13-digit ISBN number, and list price).
James A. Cox, Editor-in-Chief
Midwest Book Review
Wall Street Lessons
James E. Demmert
https://www.jamesdemmert.com
New Insights Press
https://newinsightspress.com
9798986016351, $30.00 Hardcover/$15.99 Paper/$9.99 ebook
https://www.amazon.com/Wall-Street-Lessons-Overcoming-Greed/dp/B0CJYXRDQG
Wall Street Lessons: Overcoming Fear, Greed, and Being Your Own Worst Enemy is a deep dive into investment strategies that takes a much different path to building wealth than the usual financial advice on investing. James E. Demmert offers an unusual insight in his book -- that the human brain is not wired for investing. This perspective contrasts boldly with the innuendos of most investment strategy books that seem to assume that the drive to invest is built into the human psyche.
Demmert supports his argument by reviewing how 12 psychological blunders are often made by investors, based on investment choices made with their emotions rather than based on a rational investment approach. The problem with typical investment decisions is that they are driven by either fear, greed, or both, which causes a shoot-from-the-hip response. Such blunders lead people to either take more risks than they can afford or reject opportunities to make good financial decisions.
For example, one of the blunders Demmert discusses is the "crowd effect," also called the "herd mentality." Although the market is generally efficient, the crowd effect can sometimes motivate people to follow what thousands or millions of others are investing in, creating a temporary market bubble due to "irrational exuberance." Such behaviors, assumptions, and errors that negatively impact investment choices are analyzed in detail in the book, along with a review of traditional investment theories on Wall Street that simply no longer work, such as modern portfolio theory.
To counteract fear and greed investing, Demmert offers comprehensive guidance on rational investing according to a set of fundamental principles and specific steps that investors need to take to minimize their risks while maximizing their profits over the long term. Packed with charts, examples from Demmert's work with clients, and keen insights into understanding how the stock market works in patterns aligned with economic cycles, Wall Street Lessons is filled with practical advice for better investment strategies. This makes it a top recommendation for business, novice investors, and financial discussion group audiences interested in improving their knowledge of stock market investing and wealth building.
EDITOR'S NOTE:
The Midwest Book Review is an organization of volunteers committed to promoting literacy, library usage, and small press publishing. We accept no funds from authors or publishers. Full permission is given to post any of these reviews on thematically appropriate websites, newsgroups, listserves, internet discussion groups, organizational newsletters, or to interested individuals. Please give the Midwest Book Review a credit line when doing so.
The Midwest Book Review publishes the monthly book review magazines "California Bookwatch", "Internet Bookwatch", "Children's Bookwatch", "MBR Bookwatch", "Reviewer's Bookwatch", and "Small Press Bookwatch". All are available for free on the Midwest Book Review website at www (dot) midwestbookreview (dot) com
Anyone wanting to submit books for review consideration can send them to:
James A. Cox, Editor-in-Chief
Midwest Book Review
278 Orchard Drive
Oregon, WI 53575-1129
To submit reviews of any fiction or non-fiction books, email them to Frugalmuse (at) aol (dot) com (Be sure to include the book title, author, publisher, publisher address, publisher website/phone number, 13-digit ISBN number, and list price).
James A. Cox, Editor-in-Chief
Midwest Book Review
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