More Than You Know: Finding Financial Wisdom in Unconventional Places
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More Than You Know: Finding Financial Wisdom in Unconventional Places

4.03 of 5 stars 4.03  ·  rating details  ·  266 ratings  ·  15 reviews

One of Wall Street's most creative and influential minds offers provocative new ways of thinking about the stock market, investing, and how we make decisions.

Hardcover, 268 pages
Published April 21st 2006 by Columbia University Press (first published January 1st 2006)
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Omar Halabieh
The core premise of this book is best summarized by the author: "More Than You Know's core premise is simple to explain but devilishly difficult to live: you will be better investor, executive, parent, friend - person - if you approach problems from a multidisciplinary perspectives". He then details his approach: "While the essays cover a range of topics, I categorize them into four parts - investment philosophy, psychology of investing, innovation and competitive strategy, and science and compl...more
Todd Nemet
I liked this interesting book by the "Chief Investment Stratigest" as Leggs Mason and Columbia Business School professor. It is a collection of quick essays (blog posts?) on different topics -- some not normally associated with investing -- and how they might be applied to investing. A lot of the essays deal with one facet or another of behavioral science, but things get more interesting when he muses on things like Zipf's power law, the accelerating rate of innovation, and decision making in th...more
Steve Bradshaw
A little shallow, but some interesting ideas from a range of fields (genetics, baseball, gambling, basketball, etc...) applied to investing. Given his unassuming and entertaining writing style, I was surprising to learn that Mauboussin is the "Chief Investment Strategist" at Legg Mason and previously at Credit Suisse. He also doubles as a Columbia Business School professor.

One of the better essays is a discussion on Outcome vs. Process taken from Moneyball that now appears in several other books...more
Tyson Strauser
Mauboussin's book draws on his diverse knowledge of biological, psychological, demographic, and historical fields of study to argue that investment process can be observed in many places outside of business.

His sweeping discussion, from behaviorial finance/economics to biological Darwinism and choice, offers insight to investors that seek to understand the decision trees we subconsciously follow that affect our perception of risk/reward in an uncertain world.

Arguing for a multi-disciplinary app...more
Franco Arda
After reading this book, it went immediately into my personal list of the top 10 of investment books.

The author doesn't miss any FUNDAMENTAL point in investing. My personal favorites:

- Process and Outcome in Investing*
- Frequency Versus Magnitude
- Risk and Uncertainty
- Emotion and Decision Making
- The Hot Hand

* the whole chapter is on [...] - I only glanced at the site and new immediately that I had to buy this outstanding book
Chung Yen
Got tied up awhile... took me bout a month to finish this book @@

Anyway this book serves a nice guidance for ur future ref/thinking. The author studied/look into many other areas when writing this book. Behavioral econs concepts are constantly applied. If you like the ideas from diverse areas, I think you will enjoy this :)
Adam Hecklinger
Great book. Mauboussin brings a refreshing and unique prespective into how we should think about the capital markets.
Todd
This book was included in my book: The 100 Best Business Books of All Time. www.100bestbiz.com
Pyoungsung Choi
통찰력에 대해서 깊이 있게 고민하게 하는 책이다. 투자를 단순하게 PER, PBR 등 여러 가지 단순화된 지표로만 판단해서는 안 된다고 강력하게 경고하고 있다. 그 근거는 주식시장 자체가 복잡계이기 때문에 기계론적인 사고로 선형적인 인과관계를 가정한 단순한 투자법은 위험할 수 있다는 것이다. 투자에 대한 다양한 생각을 다양한 학문에서 근거를 가져와서 정리하는데, 깊이가 있다. 신경과학, 복잡계 이론, 진화생물학 등등 다양한 분야의 깊이있는 저자의 학식에도 놀라게 만든다. 결론은 역시 통찰력이 필요하다인데, 나 같은 범인은 그것이 없으니 아쉬울 따름이다. 초보적인 투자자를 위한 책은 아니다.
Lamech Mariita
You should definitely read this book if you are into investing, psychology, behavior, influence, and why people make decisions they do. This book provides an excellent way for investors to avoid errors that others have made and will continue to make. The point of the book is simple: by paying attention to the decision-making process, investors can make better choices to improve their long-term results. This book is different than other investment related books and it's definitely worth reading.
Tirath
Too theoretical for me. I kept glancing over each chapter and once in a while, I would bore down into what the author was trying to say.
So, sure, there are interesting things in the book.
A good way to approach this book is in the form of multi-disciplinary learning; the book refreshes one's mind towards the various facets of investing and how it is not so much about the numbers.

Girish
This is an excellent book for all rational investors. It contains wealth of market insights...something every serious investor needs to know about. Because learning from one's own errors is very costly education in the financial markets. Definitely recommended.
Zhong
It is a very informative book. Same points are confusing me. The finance book with least data I ever read. I was thinking this book will be readable if writer add some data and facts. Over all, this book is worth to read.
Jay
Jan 08, 2012 Jay marked it as to-read
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Michael J. Mauboussin is Chief Investment Strategist at Legg Mason Capital Management. Prior to joining LMCM in 2004, Michael was a Managing Director and Chief U.S. Investment Strategist at Credit Suisse. Michael joined CS in 1992 as a packaged food industry analyst. He is a former president of the Consumer Analyst Group of New York and was repeatedly named to Institutional Investors All-America R

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