Title
Mean Markets and Lizard Brains: How to Profit from the New Science of Irrationality,Used
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Everyone from journalists to market pros are turning to behavioral finance to explain, analyze, and predict market direction. In contrast to oldschool assumptions of coolheaded rationality, the new behavioral school embraces hotblooded human irrationality as a core feature of both individuals and financial markets. The 2002 Nobel Prize in Economics was awarded to scholars of this new scientific approach to irrationality. In Mean Markets and Lizard Brains, Terry Burnham, an economist who has a proven ability to translate complex topics into everyday language, reveals the biological causes of irrationality. The human brain contains ancient structures that exert powerful and often unconscious influences on behavior. This 'lizard brain' may have helped our ancestors eat and reproduce, but it wreaks havoc with our finances. Going far beyond cataloguing our financial foibles, Dr. Burnham applies this novel approach to all of today's most important financial topics: the stock market, the economy, real estate, bonds, mortgages, inflation, and savings. This broad and scholarly investigation provides an indepth look at why manias, panics, and crashes happen, and why people are built to want to buy at irrationally high prices and sell at irrationally low prices. Most importantly, by incorporating the new science of irrationality, readers can position themselves to profit from financial markets that often seem downright mean. Mean Markets and Lizard Brains skillfully identifies the craziness that is part of human nature, helps us see it in ourselves, and then shows us how to profit from a world that doesn't always make sense.
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- Q: What is the main focus of 'Mean Markets and Lizard Brains'? A: The book explores behavioral finance, emphasizing how human irrationality affects financial markets and decision-making.
- Q: Who is the author of 'Mean Markets and Lizard Brains'? A: The author is Terry Burnham, Ph.D., an economist known for translating complex financial concepts into accessible language.
- Q: What topics does the book cover? A: It covers various financial topics including the stock market, economy, real estate, bonds, mortgages, inflation, and savings.
- Q: How does the book explain irrational behavior in finance? A: It discusses the biological causes of irrationality, particularly how the 'lizard brain' influences financial decisions.
- Q: What is the significance of the 2002 Nobel Prize mentioned in the book? A: The Nobel Prize was awarded to scholars who advanced the understanding of behavioral finance, highlighting its importance in economic theory.
- Q: Is 'Mean Markets and Lizard Brains' suitable for beginners in finance? A: Yes, the book is written in everyday language, making it accessible for readers new to finance and behavioral economics.
- Q: What edition of the book is available? A: The book is available in a revised and updated edition, published on September 1, 2008.
- Q: How many pages is 'Mean Markets and Lizard Brains'? A: The book contains 324 pages, offering an in-depth exploration of its topics.
- Q: What type of binding does the book have? A: The book is available in paperback binding, making it lightweight and easy to handle.
- Q: What condition is the book in? A: The book is in mint condition, ensuring a quality reading experience.