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Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich
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Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich

3.71 of 5 stars 3.71  ·  rating details  ·  223 ratings  ·  34 reviews
What happens inside our brains when we think about money? Quite a lot, actually, and some of it isn't good for our financial health. In "Your Money and Your Brain, " Jason Zweig explains why smart people make stupid financial decisions -- and what they can do to avoid these mistakes. Zweig, a veteran financial journalist, draws on the latest research in neuroeconomics, a f...more
Hardcover, 320 pages
Published September 4th 2007 by Simon & Schuster (first published 2007)
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(showing 1-30 of 693)
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Benedict Gnaniah
I went to the library, just wanted to return an scram. While on the counter this book seemed to plead with me, well literally, to take me home. I said okay let me try you, I like this neuro science trip anyway.. Page 5 actually stopped me on my tracks the author quotes Psychologies Daniel Kahneman of Princeton University " Financial decision making is not necessarily about money, its also about intangible motives like avoiding regret or achieving pride" . I loved this .. think I will be able to...more
Zohar - ManOfLaBook.com
This behavioral finance book came recommended to me and I’m glad it did.

The book, in a very non-technical language, touches on how the body reacts physically and mentally to the changing stock market. The author explains how the brain works when faced with pleasant events (stocks going up) and unpleasant events (stocks going down) and when faced with peer pressure or an important decision. After the explanation, the book tells you simple techniques to avoid or circumvent these issues as well as...more
Jennifer
This book, Your Money & Your Brain is subtitled How the New Science of Neuroeconomics Can Help Make You Rich. Perhaps a bit overhyped there, but the book does make a lot of points that if you can somehow bypass human nature you can avoid the things that cost investors money.

The book is partly fascinating and partly dull. I'm into financial books, but I got a little bored with page after page (264 in total, plus appendix plus citations) of insight into various studies of the human condition d...more
David
Very thorough review of a wide range of psychological research findings with some bearing on [or potential applicability to:] investment strategies, plus whenever possible a description of neuroscience findings potentially related to the phenomenon.

Author is clearly quite excited about neuroscience, but the book sort of reminded me of why I'm not in that area. I find the behavioral/cognitive phenomenon itself interesting (e.g., Gilbert's research on "affective forecasting" showing predictable e...more
Mark
Sep 14, 2007 Mark rated it 3 of 5 stars
Shelves: money
I'm hoping that the ridiculous subtitle of this book, "How the New Science of Neuroeconomics Can Help Make You Rich" was foisted onto it by publisher's trying to cash in on the get rich quick book frenzy.

The idea of why so many people consistently made bad choices in this area of life fascinates me. Whether it's someone who gets into debt by buying toys and shoes or if it's an investor who always buys and sells at the wrong time - something in our make-up makes us bad at these decisions (Or we...more
Tirath
One of the best books I have read on investor/ trader psychology - the book nudges you into thinking more like an investor than a trader.

The author blends anatomical knowledge with human behaviour with such ease that a dedicated reader can learn a lot from what has been offered. Often, during the book, he offers tips on how to beat certain pitfalls of being human.

The best chapter for me would have to be the last one on Happiness - it talks about life in general and how happiness is often confus...more
Jessie
This is basically only relevant for active investors, but I still found it a surprisingly interesting read.
Joe Haynes
Very interesting book. Most interesting so far is how the mind can get excited more about the prospect of making (or losing) than about actually making the moneyh. Good comparisons are made with how people get caught up in the latest hype using mechanisms similar to buying lottery tickets and using slot machines (the same anticipation type mechanism).

The only point in the book that I did not like was the dissing of the book "Blink." This part of the book added nothing to the premise and is a co...more
Heather
In the 60% of the book that I managed to get through, the author participated in countless experiments in which he was attached to electrodes and asked to select a card, press a button, and perform other contrived lab-based tasks to measure his brain activity when he won or lost money by performing these various activities. The groundbreaking neuroeconomic results of all of these tests: winning money = good, losing money = bad.

The author also offers helpful investing tips such as: do your resea...more
Julian Bu
dry book to me, maybe helpful to improve one's rationality.
Brian
One of the best books on personal finance that I've read in well over a year. I got a LOT out of this book on the physcology of people and their money. For example, did you know that the same area of your brain goes crazy when you get an unexpected influx of cash, as when a cocain addict gets a hit?
Don't be tricked by the subtitle of this book, it's not about 'getting rich' - this book will help you understand why 'the love of money is the root of all evil.'

I will be rereading this book a few ti...more
Jeff
This book was trying to link the neuroscience research of the past few years with the biological process of making investment decisions. I found the book pretty flat, mostly because having read quite a bit about investing over the years, there wasn't that much new here. Basically it was just packaging the usual investment, and occasionally life, advice with MRI's and other data on what is happening in the brain when investment decisions are made. I didn't end up retaining much because I just was...more
Atul
Feb 06, 2014 Atul marked it as to-read
I like to read this book because I want to know how your action and thinking affect your budget and financial goal … I am exciting after I read the review.
Edwin
I read the first half and quickly glimpsed through the rest.

I find a lot of things the author talked about are just common sense. People are greedy, they have fear, they think they are better than others, etc. Based on a lot of research, the author explained how the brain is wired and how it works. But if I am not interested in the internal clockwork of the brain, then there is little to learn from the book.
Josh
Not much more than a compilation of scientific studies relating to the brain's effect on the way human beings think about money - also, how the way we think about money effects us physiologically. If nothing else, the book acts as a 300-page chink in the armor of brokers who are paid - almost always unsuccessfully - to beat the market.
K
Aug 07, 2014 K rated it 2 of 5 stars
Shelves: career
This book on psychological effects of the stock market reminded me of an average self-help book to investing with advice to diversify, use dollar-cost-averaging, don't panic-sell a stock/fund, watch out for the impact of fees, think in a long term time frame. Overall, not as technical as I expected on the market or psychology.
Susan K
Not for everyone, but it appealed to someone like me who likes finance and is sometimes amazed that most people make many, many decisions they think are the right ones, but that are actually counter to common logic or statistical probablities.
Karren
it's probably good compared to most finance books but the writing is dry & it's a tedious read. I already knew most of the concepts. I think this would make a great read as a more concise NYT article. Not so much as a book.
John
The emotional response of the reflexive brain overwhelms the analytical powers of the reflective brain. One can avert portfolio paralysis by investing gradually and automatically over time with a $-cost averaging plan.
Rob
parts were very interesting. lots of neuroscience and studies and research, just like i like. the last chapter is the best, all about how happy people love longer and better lives.
Adam Hecklinger
Great book on neuroeconomics. Zweig incorporates numerous studies to illustrate his contentions regarding why we do what we do when it comes to money.
Thomas
How the brain reacts to stimulus as it relates to gains, gambles, losses, framing, etc. Has helped me obsess less about the stock market.
David Pincus
very, very interesting book. And helpful. Read this book and save yourself hundreds of thousands of dollars in stupid investment decisions
Wilfredo Malazarte
Mar 16, 2009 Wilfredo Malazarte is currently reading it
Very interesting book on how most investment/finance mistakes are actually inherited from evolution, and biological responses.
Eric
This is an excellent book that tells alot about why we do the things we do and why we either take risks or avoid them.
Lindavt08
It's a really awesome book about how neuroeconomics, like the psychology of investing and why people do what they do.
Sallie
Nov 20, 2009 Sallie marked it as to-read
Shelves: nonfiction
When I grow up I think I want to be a neuroscientist or a cognitive scientist ... this stuff is just fascinating!!!
Mark Kricheff
The emerging science of neuro-economics and how emotions, bias, and brain function affect our decisions about money.
C Nelson
In spite of the title, this is an excellent book. It's informative, well written and interesting.
Jim Witkins
Our brains are brilliant at deluding ourselves.
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