Book picks similar to
Behavioral Investment Counseling by Nick Murray


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Misbehaving: The Making of Behavioral Economics


Richard H. Thaler - 2016
    Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world.Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments.Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber.Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.

You Need a Budget: The Proven System for Breaking the Paycheck to Paycheck Cycle, Getting Out of Debt, and Living the Life You Want


Jesse Mecham - 2010
    A guide based on the tenets of the award-winning financial platform, "You Need a Budget," argues that a well-planned budget does not involve deprivation and counsels readers on how to prioritize financial goals, reduce stress through strategic cash flow allocations and meet the challenges of unplanned expenses.

Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond


Deepak Malhotra - 2007
    Drawing on decades of behavioral research plus the experience of thousands of business clients, the authors take the mystery out of preparing for and executing negotiations—whether they involve multimillion-dollar deals or improving your next salary offer.What sets negotiation geniuses apart? They are the men and women who know how to:•Identify negotiation opportunities where others see no room for discussion•Discover the truth even when the other side wants to conceal it•Negotiate successfully from a position of weakness•Defuse threats, ultimatums, lies, and other hardball tactics•Overcome resistance and “sell” proposals using proven influence tactics•Negotiate ethically and create trusting relationships—along with great deals•Recognize when the best move is to walk away•And much, much moreThis book gets “down and dirty.” It gives you detailed strategies—including talking points—that work in the real world even when the other side is hostile, unethical, or more powerful. When you finish it, you will already have an action plan for your next negotiation. You will know what to do and why. You will also begin building your own reputation as a negotiation genius.

Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street


William Poundstone - 2006
    One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible.Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenonally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge.Shannon believed it was possible for a smart investor to beat the market—and Fortune's Formula will convince you that he was right.

Growth Hacker Marketing: A Primer on the Future of PR, Marketing, and Advertising


Ryan Holiday - 2013
    A new generation of multibillion dollar brands have been built without spending a dime on traditional marketing techniques. No press releases, no PR firm, and no billboards in Times Square.It wasn’t luck that took them from tiny start-ups to massive success. They have a new strategy, called Growth Hacking. And it works.In this e-special, bestselling author Ryan Holiday shows how the marketing game has changed forever. He explains the growth hacker mindset and provides a new set of rules—critical information whether you’re an aspiring marketer, an entrepreneur, or a Fortune 500 senior executive.

Master Your Money, Master Your Life


Abhishek Kumar - 2019
    In fact, ignorance is your biggest enemy—stopping you from living a life of abundance and happiness. This practical and powerful book—never relying on any jargon—busts popular myths, bares open financial secrets and empowers you to be a master of your own financial destiny with a unique five funds funda approach. Inspiring and actionable, this book will transform your life—not just financially, but also holistically.

Playing to Win: How Strategy Really Works


A.G. Lafley - 2013
    But it is hard. It’s hard because it forces people and organizations to make specific choices about their future—something that doesn’t happen in most companies.Now two of today’s best-known business thinkers get to the heart of strategy—explaining what it’s for, how to think about it, why you need it, and how to get it done. And they use one of the most successful corporate turnarounds of the past century, which they achieved together, to prove their point.A.G. Lafley, former CEO of Procter & Gamble, in close partnership with strategic adviser Roger Martin, doubled P&G’s sales, quadrupled its profits, and increased its market value by more than $100 billion in just ten years. Now, drawn from their years of experience at P&G and the Rotman School of Management, where Martin is dean, this book shows how leaders in organizations of all sizes can guide everyday actions with larger strategic goals built around the clear, essential elements that determine business success—where to play and how to win.The result is a playbook for winning. Lafley and Martin have created a set of five essential strategic choices that, when addressed in an integrated way, will move you ahead of your competitors. They are:• What is our winning aspiration?• Where will we play?• How will we win?• What capabilities must we have in place to win?• What management systems are required to support our choices?The stories of how P&G repeatedly won by applying this method to iconic brands such as Olay, Bounty, Gillette, Swiffer, and Febreze clearly illustrate how deciding on a strategic approach—and then making the right choices to support it—makes the difference between just playing the game and actually winning.

The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk


Al Ries - 1993
    Why then, they ask, shouldn't there also be laws of marketing that must be followed to launch and maintain winning brands? In The 22 Immutable Laws of Marketing, Ries and Trout offer a compendium of twenty-two innovative rules for understanding and succeeding in the international marketplace. From the Law of Leadership, to The Law of the Category, to The Law of the Mind, these valuable insights stand the test of time and present a clear path to successful products. Violate them at your own risk.

The 10 Laws of Enduring Success


Maria Bartiromo - 2010
    We need a fresh understanding of the meaning of success. What do Condoleezza Rice, Joe Torre, Bill Gates, Goldie Hawn, Mary Hart, Garry Kasparov, and Jack Welch have in common? All have talked at length with Maria Bartiromo about business, the world and their surprising, inspiring and uncommon ideas about the meaning of success. Their stories, those of an extraordinary range of other people from all walks of life, and Maria Bartiromo’s personal insights are the foundation of The 10 Laws of Enduring Success. It is the guide for the extraordinary times we are living through.  During bullish, optimistic periods, people seem to ride an upward wave with ease and confidence. The tangible evidence is right there for all to see--in their jobs, bank accounts, homes, families, and the admiration of their peers. But it is a fact of life that success, once earned, is not necessarily there to stay. If ever there was a cautionary tale about the fleeting nature of success, it is the events of recent years.     But a funny thing happened. Faced with gut-wrenching realities, many people have started to re-evaluate the meaning of success in less superficial and impermanent ways. They're asking themselves hard questions that havelong been ignored:  about what's really important to them, and where the bedrock of their personal achievement lies.     As Maria Bartiromo watched the financial drama from her front-row seat at the New York Stock Exchange, she began to re-assess the meaning of success--not just as one-off achievements, but as a durable, lifelong pursuit. Is there, she wondered, a definition of success that you can have permanently--in spite of the turmoil in your life, your job, or your bank account? This question is more important than ever, given the unpredictability of the current economy. --What are the intangibles that can't be measured or counted? --What are the qualities that aren't reflected in your title or on your business card?--And more practically, how can you remain successful even when the worst things happen to you? --Is it possible to build success from failure? It's lonely at the bottom of the heap, when your BlackBerry stops buzzing, and the world moves on without you.  Everyone wants to be close to success, and to have success. But what is success? How do you get it, and how do you keep it? As Maria interviewed some of the most successful people in the world, she felt the need to answer these questions: what makes these success stories tick? How did they achieve such leadership and power and how can one hold onto it, once you get it. What are the barriers to success and what is the bedrock to enduring success? From the Hardcover edition.

Acres of Diamonds


Russell H. Conwell - 2008
    This book shows how to find a fortune-if you know where to look. Conwell believed in the philosophy that "all good things are possible." hence, he opened the doors of opportunity for untold millions. Acres of diamonds echoes his core belief that each of us is placed here on Earth for the primary purpose of helping others. Conwell was a minister, the founder of temple University and two hospitals where no one was ever turned away for lack of money. He was also a famous lecturer. In his lecture, the story is told of a man who sells his farm to travel far and wide in search of diamonds. There is a moral to the story in Acres of diamonds, a story which Conwell presented as a lecture to more than 6, 000 people.

Zig Ziglar's Secrets of Closing the Sale


Zig Ziglar - 1984
    This new guide by America's #1 professional in the art of persuasion focuses on the most essential part of the sale—how to make them say "Yes, I will!" Zig Ziglar lets you in on the secrets of his own sure-fire, tested methods:Over 100 successful closings for every kind of persuasionOver 700 questions that will open your eyes to new possibilities you may have overlookedHow to paint word pictures and use your imagination to get resultsProfessional tips from America's 100 most succesful salespeopleDo what millions of Americans have already done—open this book and start learning from Zig Ziglar's Secrets of Closing the Sale!

SPIN Selling: Situation Problem Implication Need-payoff


Neil Rackham - 1988
    Unquestionably the best-documented account of sales success ever collected and the result of the Huthwaite corporation's massive 12-year, $1-million dollar research into effective sales performance, this groundbreaking resource details the revolutionary SPIN (Situation, Problem, Implication, Need-payoff) strategy.In SPIN Selling, Rackham, who has advised leading companies such as IBM and Honeywell delivers the first book to specifically examine selling high-value product and services. By following the simple, practical, and easy-to-apply techniques of SPIN, readers will be able to dramatically increase their sales volume from major accounts. Rackham answers key questions such as "What makes success in major sales" and "Why do techniques like closing work in small sales but fail in larger ones?"You will learn why traditional sales methods which were developed for small consumer sales, just won't work for large sales and why conventional selling methods are doomed to fail in major sales. Packed with real-world examples, illuminating graphics, and informative case studies - and backed by hard research data - SPIN Selling is the million-dollar key to understanding and producing record-breaking high-end sales performance.

Smart Women Love Money: 5 Simple, Life-Changing Rules of Investing


Alice Finn - 2017
    Why? A myriad of factors cause women to earn less than men over a lifetime, making it all the more imperative that we make the money we do have work for us as much as possible. And here’s a reality check: as many as nine out of ten of us will have to manage our finances and those of our family at some point in our lives. And a lot of us think that means keeping our money “safe” in savings accounts, and not investing it. But not doing so has an opportunity cost that will lead to opportunities lost—the ability to pay for a college education, own a home, change careers to pursue a dream, or retire. Alice Finn wants to change how you think about your money, no matter how much or little you have. In Smart Women Love Money, Finn paves the way forward by showing you that the power of investing is the last frontier of feminism. Drawing on more than twenty years of experience as a successful wealth management adviser, Finn shares five simple and proven strategies for a woman at any stage of her life, whether starting a career, home raising children, or heading up a major corporation. Finn’s Five Life-changing Rules of Investing will secure your financial future: 1. Invest in Stocks for the Long Run: Get the magic of compounding working for you, starting now. 2. Allocate your Assets: Strategize your investing to get the most of your returns. 3. Implement with Index Funds: Take advantage of “passive” investing with simple, low-cost, and diverse funds. 4. Rebalance Regularly: Sell high and buy low without much effort, to keep you on track toward your goals. 5. Keep Your Fees Low: Uncover hidden fees so you don’t lose half of your wealth to Wall Street. Finn will also provide the tools you need to achieve long-term success no matter what the markets are doing or what the headlines say. So even in the face of uncertainty— such as the possible dumping of the fiduciary rule (requiring financial advisers to act in their client’s best interests) by the Trump administration—Smart Women Love Money will help you protect yourself and all of your assets for your future. Whether you have $10, $10,000, or more, it’s time to get smart about your money.

Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!


Phil Town - 2006
    As a guy who barely made a living as a river guide, I considered the whole process pretty impenetrable, and I was convinced that to do it right you had to make it a full-time job. Me, I was more interested in having full-time fun.So I was tempted to do what you’re probably doing right now: letting some mutual fund manager worry about growing your nest egg. Let me tell you why that decision could one day make you absolutely miserable. The fact is, because of natural market cycles, the mutual fund industry is likely to soon be facing twenty years of flat returns. That means that if you’ve got your nest egg tucked away in funds—especially the type found in most 401ks—your egg won’t get much bigger than it is now. Translation: Get ready for a retirement filled with lots of cold cuts, plenty of quality TV-watching time, and a place to live that’s too small to accommodate your visiting kids.In this book I’ll show you how I turned $1,000 into $1 million in only five years, and then proceeded to make many millions more. I came to investing as a person who wasn’t great at math, possessed zero extra cash, and wanted a life—not an extra three hours of work to do every day.Fortunately, I was introduced to The Rule.Rule #1, as famed investor Warren Buffett will tell you, is don’t lose money. Through an intriguing process that I’ll clarify in this book, not losing money results in making more money than you ever imagined. What it comes down to is buying shares of companies only when the numbers—and the intangibles—are on your side. If that sounds too good to be true, it’s because the mind-set I’ll be introducing you to leads not to bets but to certainties. Believe me, if there were anything genius-level about this, I’d still be a river guide collecting unemployment much of the year.Part of the secret is thinking of yourself as a business owner rather than a stock investor. Part is taking advantage of today’s new Internet tools, which drastically reduce the “homework factor.” (We’re talking a few minutes, tops.) Part is knowing the only five numbers that really count in valuing a potential investment. And part—maybe the most important part—is using the risk-free Rule #1 approach to consistently pay a mere 50 cents to buy a dollar’s worth of a business.What I won’t waste your time with is fluff: a lot of vague parables reminding you of what you already know and leaving you exactly where you started. This is the real deal, folks: a start-to-finish, one-baby-step-at-a-time approach that will allow you to retire ten years sooner than you planned, with more creature comforts than you ever imagined.Also available as a Random House AudioBook and eBook.

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets


Nassim Nicholas Taleb - 2001
    The other books in the series are The Black Swan, Antifragile,and The Bed of Procrustes.