NeuroInvesting: Build a New Investing Brain
"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."—Wai-Yee ChenAs 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 certainje 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. ReadNeuroInvestingand discover how to build a new investing brain for better returns and greater tranquility and peace of mind.