CLICK ABOVE FOR MOVIE CLIP
Hello, Fellow Investors!
MarketPsych took some time out of its busy consulting/speaking/writing schedule to share another Digital Short Film.
This one (once again starring Jim and Fast Eddie) explores the concept that behavioral finance people call, "Herding". A concept which, if you think about it, is really another way of saying "Peer Pressure."
Yes, Peer Pressure. That same powerful social force that perhaps in your younger days caused you to do things like get a "mullet" haircut, procure special oversized "warmers" for your legs (when, in fact, they were in no need of warming), and pretend you actually enjoyed your first cigarette.
Well, we're all older now. Wiser too. But peer pressure still lies at the heart of many investing failures. The key to overcoming this force (in high school or the stock market) is to develop a strong enough identity (i.e., sense of who you are) to make decisions based on what's right for you - not what you see others doing.
The concept is so important, we put it in the title of our book. (MarketPsych: How to Manage Fear and Build Your Investor Identity)
We invite you to click on the film clip above or if you prefer, here, to follow the adventures of Jim and Fast Eddie, and maybe have a laugh while you do so.
Please visit us at http://www.marketpsych.com/ for more information on the books, products and services we provide to the financial community.
Happy investing. And hey... let's be careful out there.
Frank Murtha, PhD