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Emotional regulation, Expert business advice, Finance, Investment, Mindfulness in business, Trading, Work/ life balance
Mind, Money & Markets
A Guide for Every Investor, Trader and Business Person
Dave Harder and Janice Dorn M.D. Ph.D.
After losing much of his money when the South Sea Bubble burst in 1720, English physicist and mathematician Isaac Newton stated, “I can calculate the motion of heavenly bodies, but not the madness of people.” Even though Isaac Newton was a brilliant man, he did not realize that markets function in a way that is opposite to almost everything else we do. For example, if people are lining up around the block to purchase an iPad, it is a sign that it is a good product. If people are lining up around the block to buy a condominium, it is a bad sign for real estate. Markets do not always act in a rational or logical manner. Mind, Money & Markets explains why they act the way they do. It is critical for every person to understand this in order to make wise decisions ranging from buying a home to operating a business.
Expert advice is much less reliable than we expect it to be because no one can accurately predict the future on a consistent basis. Gigantic losses like the $6.2 billion trading loss at JP Morgan in 2012 show that investors are not giving momentum (following the trend) the respect it deserves. Mind, Money & Markets offers a momentum filter—specifically, a screening tool from which every individual and professional investor should benefit. The book also provides a “circuit breaker” that enables investors to limit losses in case of an unexpected event in financial markets. Using powerful and poignant analogies from their life experiences, including Dave Harder’s twelve years as a Search and Rescue volunteer, we provide readers with a simple discipline to preserve precious hard-earned capital during severe downturns and to outperform benchmarks when markets are in an uptrend.
It is easier to know what to do than to actually do it. Psychiatrist Dr. Janice Dorn specializes in helping traders and investors deal with emotions and aspects of human nature that hinder them from making astute investment decisions for stocks, bonds, real estate, currencies, or commodities. We have passed on many words of wisdom collected from market sages and great thinkers. We also highlight some major misconceptions about investing, and show the reader how to overcome them and prosper.
With a compelling mixture of fascinating stories and more than 100 colored charts and photographs, this is truly a unique work about how human beings react to markets. The book helps individual as well as professional investors to be efficient with their time and energy by teaching them to focus only on a few factors which have the most significant impact on financial markets. The personalized strategies provided in these pages will enable readers to maximize gains, minimize losses, and have more time to spend on things that matter the most in their lives.
Mind, Money and Markets offers readers explanations for why we are often our own worst enemies when it comes to investment success. The authors provide a roadmap for investors that, if followed in an unemotional and disciplined fashion, should help them achieve greater long-term success with their investments.
James P. O’Shaughnessy, author of What Works on Wall Street, Chairman and CEO, O’Shaughnessy Asset Management LLC
This book is a refreshing piece of work on investing using a combination of common sense and science. Mr. Harder and Dr. Dorn are able to distill an overwhelmingly complicated and noisy information set into investment advice with true clarity. Through their thorough understanding of human psychology combined with deep market experience, two of the most important qualities needed for successful investing, the authors deliver a roadmap on how to filter out the noise to get to the true signals. I consider it required reading for those interested in both capital preservation and profitable investing.
Robert McTamaney, Former Partner and Head of Trading, Goldman Sachs Asia
Over the past two decades, I’ve watched Dave Harder make a number of impressive calls at long-term inflection points. Mind, Money and Markets outlines straightforward, common sense strategies to navigate major turning points in markets along with tools to help investors stay on the right side of the ensuing trend. This book contrasts interesting real life adventures with investing to highlight the importance of having a strategy in place to keep our emotions in check when events become hectic and confusing.
Robert Sluymer, Technical Analyst, RBC Capital Markets, LLC, New York
Mind, Money and Markets is a fine effort that takes the complicated subject of investing in financial markets and makes it understandable to the non-professional. The authors accomplish this without talking down to their audience by using interesting real world examples that often don’t involve the stock and bond markets. Understanding the reasons individuals often buy when prices are high and sell when they are low is a key to acting the opposite and gaining large profits. This book will provide the reader with the confidence to move against the action of the herd, and hopefully secure their long-term financial security.
John Gray, Editor, Investors Intelligence
Dave Harder, FCSI, is Vice President and Portfolio Manager with Canada’s largest financial firm, which is also one of the most respected financial corporations in the world. He has written more than 300 reports about momentum indicators and active asset allocation. Dave is a marathon runner, Ironman triathlete, and a professionally trained Search and Rescue volunteer.
Janice Dorn, M.D., Ph.D., received a Ph.D. in Anatomy (Neuroanatomy) from the Albert Einstein College of Medicine in New York. She is also an M.D. Psychiatrist certified by the American Board of Psychiatry and Neurology and the American Board of Addiction Medicine. She has written over 1,000 articles on trading psychology and behavioral finance. Dr. Dorn is dedicated to providing education and training about how the brain, psychology, and emotions impact financial decision-making. Janice is an advocate for the elderly, a lifelong dancer, and a pianist.
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