What I Learned Losing a Million Dollars

Author: Jim Paul,Brendan Moynihan

Publisher: Columbia University Press

ISBN: 0231164688

Category: Business & Economics

Page: 208

View: 5543


Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all--his fortune, his reputation, and his job--in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book--winner of a 2014 Axiom Business Book award gold medal--begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it--primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources. Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.

SUMMARY - What I Learned Losing A Million Dollars By Jim Paul And Brendan Moynihan

Author: Shortcut Edition

Publisher: Shortcut Edition

ISBN: N.A

Category: Business & Economics

Page: 35

View: 5910


* Our summary is short, simple and pragmatic. It allows you to have the essential ideas of a big book in less than 30 minutes. By reading this summary, you will discover how to protect yourself against heavy losses on the financial markets. You will also discover : the secret to success on the stock market: limit your losses as much as possible; the impact of psychological tendencies on the decision-making process; the danger of indexing one's self-esteem on one's successes and failures; the need to keep a cool head and make rational decisions in the markets; the importance of a predefined strategy with exit criteria and safeguards. There are a multitude of methods and tips for success in the stock market. However, investors with the most diverse profiles experience as many great successes as they do great losses. Is there no real technique? While different paths lead to success, the most resounding disasters seem to have one thing in common: unfortunate investors indulge in irrational decisions, guided by conformism or overconfidence. Investor Jim Paul has paid the price. The story of his rise and fall provides valuable clues to decipher the market's pitfalls and how to avoid them. *Buy now the summary of this book for the modest price of a cup of coffee!

Summary of What I Learned Losing a Million Dollars

Author: Better Business Summaries

Publisher: Createspace Independent Publishing Platform

ISBN: 9781540349231

Category:

Page: 48

View: 6287


What I learned Losing A Million Dollars by Jim Paul and Brendan Moynihan | SummaryBook Preview:When he initially began trading, Jim Paul believed he was some type of Superman. He believed he was invincible - that whatever he touched would become gold. When he lost a million dollars, he recognized he was human like the rest of us, that he had actually just got fortunate, and that continuously flexing the guidelines just gets you so far. Any financier worth his salt requires far more than luck and self-confidence: he has to discover ways to lose.What I Discovered Losing A Million Dollars does not concentrate on success through winning. Part autobiography and part trading writing, it analyses failure and the best ways to manage losses. Jim Paul rose to real leadership, reaching his zenith in his mid-thirties, prior to collapsing and falling right down to the bottom. He discovered a lot about himself through his failures in the trading pit. He analyzed and checked out the psychology behind trading, and how it is our behavioral attributes instead of a changing market that causes flawed trading. It is frequently who we are, and not exactly what we are doing, that results in falling down. He advises us that we have to change our basic habits.This is a summary and analysis of the book and NOT the original book This Book Contains: * Summary Of The Entire Book * Chapter By Chapter Breakdown * Analysis Of The Reading Experience Download Your Copy Today

Summary

Author: Book Summary Publishing

Publisher: N.A

ISBN: N.A

Category:

Page: 32

View: 8845


What I Learned Losing a Million Dollars - Strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing by Jim Paul There are numerous methods and theories on how to succeed in the stock market. Yet a number of investors from all different backgrounds have known both great success and crushing loss. Does a true technique to succeed therefore exist? While many paths may lead to success, the most significant disasters seem to all have one point in common: unhappy investors making irrational decisions based on conformity or hubris. The ill-fated investor Jim Paul is a prime example. The story of his rise and fall offers precious clues on how to decipher and avoid the traps of the financial market. Why read this summary: Save time Understand the key concepts Notice: This is a WHAT I LEARNED LOSING A MILLION DOLLARS Book Summary. NOT THE ORIGINAL BOOK.

CMT Level I 2016

Author: Mkt Tech Assoc

Publisher: John Wiley & Sons

ISBN: 1119222699

Category: Business & Economics

Page: 768

View: 4443


Everything you need to pass Level I of the CMT Program CMT Level I 2016: An Introduction to Technical Analysis fully prepares you to demonstrate the basic competencies of an entry-level analyst, including a working knowledge of terminology and the ability to discuss key concepts and fundamental analytical tools. Covered topics address theory and history, markets, market indicators, construction, confirmation, cycles, selection and decision, system testing, statistical analysis, and ethics. The Level I exam emphasizes trend, chart, and pattern analysis. This cornerstone guidebook of the Chartered Market Technician® Program will provide every advantage to passing Level I.

CMT Level I 2017

Author: Market Technician's Association

Publisher: John Wiley & Sons

ISBN: 1119361672

Category: Business & Economics

Page: 640

View: 622


Everything you need to pass Level I of the CMT Program CMT Level I 2017: An Introduction to Technical Analysis fully prepares you to demonstrate the basic competencies of an entry-level analyst, including a working knowledge of terminology and the ability to discuss key concepts and fundamental analytical tools. Covered topics address theory and history, markets, market indicators, construction, confirmation, cycles, selection and decision, system testing, and statistical analysis. The Level I exam emphasizes trend, chart, and pattern analysis. This cornerstone guidebook of the Chartered Market Technician® Program will provide every advantage to passing Level I.

CMT Level I 2018

Author: Wiley

Publisher: John Wiley & Sons

ISBN: 1119474531

Category: Business & Economics

Page: 648

View: 5859


Everything you need to pass Level I of the CMT Program CMT Level I 2018: An Introduction to Technical Analysis fully prepares you to demonstrate the basic competencies of an entry-level analyst, including a working knowledge of terminology and the ability to discuss key concepts and fundamental analytical tools. Covered topics address theory and history, markets, market indicators, construction, confirmation, cycles, selection and decision, system testing, and statistical analysis. The Level I exam emphasizes trend, chart, and pattern analysis. This cornerstone guidebook of the Chartered Market Technician® Program will provide every advantage to passing the Level I CMT Exam.

CMT Level I 2020

Author: Wiley

Publisher: John Wiley & Sons

ISBN: 1119674379

Category: Business & Economics

Page: 672

View: 4895


Everything you need to pass Level I of the CMT Program CMT Level I 2020: An Introduction to Technical Analysis fully prepares you to demonstrate the basic competencies of an entry-level analyst, including a working knowledge of terminology and the ability to discuss key concepts and fundamental analytical tools. Covered topics address theory and history, markets, market indicators, construction, confirmation, cycles, selection and decision, system testing, and statistical analysis. The Level I exam emphasizes trend, chart, and pattern analysis. This cornerstone guidebook of the Chartered Market Technician® Program will provide every advantage to passing the Level I CMT Exam.