When I'm looking for sharp, against-the-grain insights on how we can and should make better investing decisions, I always turn to Daniel Crosby. If he s publishing, blogging, or Tweeting, I want to know about it. It also doesn't hurt that he's often hilarious in taking our built-in foibles and creating the potential for ending up in a much better place than we would otherwise. This book is yet another fantastic contribution to the practice of sound (and sane) investing. --Dr. Brian Portnoy, Head of Investor Education at Virtus Investment Partners
Using lively and engaging real-life examples Dr. Crosby gives insights into innate human behavior and its role within the financial markets. In this entertaining book he provides brilliant invaluable practical framework for investors, financial professionals and anyone in search of true wealth. --Dr. Svetlana Gherzi, Behavioral Finance Specialist, UBS
Drawing the connection that what makes us interesting as humans can make us unsuccessful at managing our money in times of turbulence, Dr. Crosby provides a safe haven with his framework for success. This book is not only informative but enjoyable, as he gently exposes how human behavior impacts our decision making. --Noreen D. Beaman, CEO of Brinker Capital, Inc
The financial services industry is broken and has for too long ignored the human factor. Savvy investors and advisors understand that emotions, decisions and behavior are at least as important as big returns and Dr. Daniel Crosby explains just that in The Laws of Wealth --David Geller, CEO, GV Financial
Step away from CNBC and into financial therapy! People often think that buy low, sell high is the first (and only) rule of investing. This deceptively simple phrase motivates most, if not all investors, and yet many investors fail to successfully follow this simple mantra. In The Laws of Wealth, Daniel Crosby explains why we struggle with deceptively simple investment decisions, suggesting that first rule of profitable investing is to get out of your own way. --Meredith A. Jones, Author, Women of The Street: Why Female Money Managers Generate Higher Returns (And How You Can Too)
Individual investors are often their own worst enemies, whether they re selling when they should be buying, focusing on their stocks day-to-day swings or letting the media drive them into a panicked emotional state. In Dr. Daniel Crosby s newest book, he breaks down how to implement a set of easy-to-follow rules to keep investors on track. Don't let your mind ruin your investing outcomes. Read his book and arm yourself against yourself today. --LouAnn Lofton, The Motley Fool
In The Laws of Wealth, psychologist and behavioral finance expert Daniel Crosby offers an accessible and applied take on a discipline that has long tended toward theory at the expense of the practical. Readers are treated to real, actionable guidance as the promise of behavioral finance is realised and practical applications for everyday investors are delivered.
Crosby presents a framework of timeless principles for managing your behavior and your investing process. He begins by outlining ten rules that are the hallmarks of good investor behavior, including 'Forecasting is for Weathermen' and 'If You're Excited, It's Probably a Bad Idea'. He then goes on to introduce a unique new taxonomy of behavioral investment risk that will enable investors and academics alike to understand behavioral risk in a newly coherent and complete way.
From here, attention turns to the four ways in which behavioral risk can be combatted and the five equity selection methods investors should harness to take advantage of behaviorally-induced opportunities in the stock market. Throughout, readers are treated to anecdotes, research and graphics that illustrate the lessons in memorable ways. And in highly valuable 'What now?' summaries at the end of each chapter, Crosby provides clear, concise direction on what investors should think, ask and do to benefit from the behavioral research.
Dr. Crosby's training as a clinical psychologist and work as an asset manager provide a unique vantage and result in a book that breaks new ground in behavioral finance. You need to follow the laws of wealth to manage your behavior and improve your investing process!