By Jim Paul, Brendan Moynihan
Jim Paul's meteoric upward thrust took him from a small city in Northern Kentucky to governor of the Chicago Mercantile alternate, but he misplaced it all―his fortune, his attractiveness, and his job―in one deadly assault of over the top financial hubris. during this sincere, frank research, Paul and Brendan Moynihan revisit the occasions that ended in Paul's disastrous choice and look at the mental elements at the back of undesirable monetary practices in numerous financial sectors.
This book―winner of a 2014 Axiom company booklet award gold medal―begins with the unbroken string of successes that helped Paul in attaining a jet-setting way of life and land a key spot with the Chicago Mercantile alternate. It then describes the situations top as much as Paul's $1.6 million loss and the basic classes he realized from it―primarily that, even though there are as some ways to become profitable within the markets as there are humans partaking in them, all losses come from an identical few resources.
Investors lose funds within the markets both as a result of error of their research or due to mental boundaries fighting the applying of study. whereas all analytical equipment have a few validity and make allowances for circumstances within which they don't paintings, mental components can preserve an investor in a wasting place, inflicting him to desert one strategy for an additional which will rationalize the choices already made. Paul and Moynihan's cautionary story comprises options for keeping off loss tied to an easy framework for figuring out, accepting, and dodging the risks of making an investment, buying and selling, and speculating.