Inside the Mind of the Turtles: How the World’s Best Traders Master Risk

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526 g
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238x162x27 mm
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McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide
The eagerly anticipated follow-up to Wayof the Turtle
PART I: Introducing the Masters of RiskINTRODUCTIONLearning from the Risk MastersApplying The Lessons of the Risk MastersHow the Masters of Risk Tame Their Savage MindsPART II: Learning from the MastersMoving Beyond FearPrudent Risks and Stupid RisksFailure is the Best TeacherDoing the Right ThingRisk SurfingPART II: Applying the Lessons from the MastersFearless Investing: Stocks and Mutual FundRobust Real-estate Strategies Part III: Lessons for LifeLessons for Life CHAPTER 12: Living the Life You WantThe Hardest Risk to TakeMastering Our Savage Minds
"I like risk. I embrace risk." -Turtle trader Curtis FaithRisk is scary, to be sure, but it's a fundamental aspect of the investing world. Without it, profit would not exist. The trick is to accept, anticipate, manage, and mitigate risk. In other words, master it.In Way of the Turtle , Curtis Faith revealed the extraordinarily successful trading system of the now-famous group of investors known as the Turtles. Now, in this highly anticipated follow up to that bestseller, Faith delves deeply into the risk-mastery strategies that made the Turtles the envy of the investing world.Inside the Mind of the Turtles provides expert insight into how great traders combat the natural but counterproductive response to risk. Faith begins by examining the nature of risk and the human being's natural response to it. Then he outlines proven techniques for seizing control of it. You will learn how to:Set your main focus on acquiring gains--not avoiding lossesPlace equal importance on assets already spent and those still on handJudge the quality of decisions based on their inception rather than their outcomeAvoid drawing conclusions using too little informationYou'll find valuable advice not only from Faith, but from some of the greatest financial minds on the scene today, including fellow Turtle Jerry Parker, venture capitalist Simon Olson, and Howard Lindzon, founder of the popular Web site, "WallStrip." Use their collective advice, and you'll find yourself approaching risk in ways you never dreamed possible.In today's economy, controlling your aversion to risk is not just prudent--it's an absolute necessity. Economic turbulence more often than not leads to poor investment decisions. Inside the Mind of the Turtles will help you conquer the fears that can cripple even the most experienced investors out there.

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