Robert Hagstrom

Published by Columbia University Press

Published in print January 2013 | ISBN: 9780231160100
Published online November 2015 | e-ISBN: 9780231531016 | DOI:

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This updated second edition explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. It discusses how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger's famous “latticework of mental models” concept, the book argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone. The concepts are reinforced with additional data and a new chapter on mathematics, and updated text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. Additionally, a hundred new titles have been added to the book's reading list.

Keywords: investing; physics; biology; sociology; psychology; philosophy; literature; theory of evolution; finance theory; mathematics

Book.  216 pages.  Illustrated.

Subjects: Financial Markets

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