Contrarian investing rules book
A contrarian's best friend Published by Thriftbooks. Written by a portfolio manager and business reporter who know their stuff, this is advice to take to heart. Whether a beginner or highly experienced investor, everyone can learn something valuable from this tremendous resource. It is also an excellent introduction to anyone interested in the concept of contrarian investing. All aspects are covered including a history of market manias, factors which drive the markets, an individual investor psychological evaluation and a series of formulas in order to calculate what stocks might be ideal contrarian plays.
This book belongs on every investor's bookshelf, especially anyone seeking to make profits from "the crowd's" mistakes. It deserves stars. Gallea and Patalon provide practical technical and fundamental strategies to beat the market with little downside risk as a contrarian investor. In today's frothy market, the principles gained in this book will help you screen for stocks with major upside potential.
Contrarian strategies are least popular during stock market manias but such periods are also the best time to invest in value instead of hype and hoopla. Overall this is a great book for investors with independant minds and the courage to go against the crowd.
Given the current environment, which is the 18th year of the bull market , too little is mentioned about risk management. Many of todays investors look merely at the short term and the possibility of the quick easy gain. This book tries to focus on how to protect your portfolio with some easy rules to follow. These rules may not suit everyone, but they provide some good guidelines and rules of thumb to follow. But what exactly is contrarian investing? Contrarian investing is similar to value investing see our insight on value investing in the search for misplaced and undervalued stocks in the market.
However, these subjective factors can be objective too, as there are technical indicators and automations to identify tops and bottoms of trends. It is crucial to look to the causes behind market fluctuations. Why has a stock price dropped drastically? Was the drop justified? Contrarian investing reads between the lines of fluctuation, determining the roots of trends. Of course, this means contrarians take considerably longer in making investment decisions.
Cursory market fluctuations that produce extremely high returns are not good investment opportunities. Another distinction is the contrarian reliance on human behavior. Contrarian strategy is based on human fear and aversion to risk. They turn away from herd mentality and interrogate the cognitive biases of the bandwagon effect. From this point of departure, contrarian investing fosters discipline, patience, and confidence sometimes blindly so , turning away from the crowd and suppressing basic aversions to risk.
It is also not for most everyday investors as it requires active engagement. You have to be in it for the long haul, dedicated to taking risks and being the brunt of jokes from those who think you may be crazy for selling soaring stocks and buying failing stocks. We take it a step further, as we think that consensus is actually anti-Darwinian and can create mental shortcuts that result in crisis.
Like lemmings, the anti-Darwinian cognitive bias to follow the crowd in investing can be fatal. Human behaviour is key to understanding stock market fluctuations, as you cannot separate investing from the people conducting the investment. Would you rather invest in Apple or Vuzix? Both are tech companies with similar annual return rates, but only one is a household name. Though we equate safety with familiarity, that is not always the case when it comes to investing. The familiarity bias and market disruption are at complete odds with one another.
By definition, disruption involves reconsidering the status quo, and, therefore, reconsidering the relevance of familiar names. In sticking with well-known names, one misses out on opportunities to invest in up-and-coming stocks that are shaking up the ecosystem. With so much noise in the market, how do you listen for the right investment opportunity?
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Why Contrarians win Big! Very simple Formula for InvestingBuy on Amazon Rate this book David Dreman's name is synonymous with the term "contrarian investing," and his contrarian strategies have been proven winners year after year.
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