This book is about behavioral economics which won Richard Thaler Noble prize in economics for The author explains conditions like Loss aversion, sunk cost fallacy, decision paralysis, endowment effect which explains why we hold on to the losing stock, exit profits early etc. It also contains an account of mental accounting-which explains why we view gifted income and earned income differently and hence spend both in a different manner, mental heuristics, mutual funds, stock market bubble- where the author explains how operators fluctuate prices of stocks. Overall this book is great for a beginner but is not that effective for one who is already in the field. More than stocks, this book talks about money and our behavior with it. The concepts like holding on to losers and letting go winners early and about having different mental accounts for money earned in different ways hits you hard than you think.
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Summary Of The Book The stock market is one of the most unfathomable mysteries of the modern financial scene. On the surface, it seems to function in a highly arbitrary manner, leading investors to believe that it is a game of chance, a myth that the author aims to disprove through this book.
The book is aimed at retail investors, brokers, and analysts - anyone who wishes to tame the beast called the stock market. Being a veteran stockbroker, the author was often confronted by questions related to investor behaviour, successful investments, unsuccessful investors, and stock market ups and downs. Faced with a mindful of questions about the volatility of the stock market, the author decided to take on the onerous task of demystifying this challenging area of finance. Through this book, he shares the results of his analysis and his experiences as a stockbroker to help the readers invest wisely in the stock market.
He simplifies various aspects of stock market investments. He also presents numerous guidelines and time-tested strategies to help retail investors invest successfully. The book is divided into eleven chapters that cover concepts such as investment strategies, speculation, behavioural finance, sunk cost fallacy, loss aversion, the endowment effect, decision paralysis, mental accounting, mental heuristics, mutual funds, and the stock market bubble. It has received highly positive reviews for its useful content as well as the lucidity of presentation.
His writing focuses on various aspects of financial markets and investments. Parikh was born on February 12, , in Mumbai, India. His entrepreneurial skills as well as his drive to be different brought him tremendous success in the stock market. Parikh shares his expertise by giving lectures and presentations regularly. He is also very athletic and spiritual, taking part in several activities that nurture these qualities.
Parikh is married to Gita, and the couple has two grown up sons, Neil and Sahil. Read More.
Stocks To Riches
Stocks to Riches
Download: Stocks To Riches By Parag Parikh Pdf.pdf