Capital Returns | Common Stocks and Uncommon Profits and Other Writings | Devil Take the Hindmost | You Can Be a Stock Market Genius | What Works On Wall Street | The Little Book That Still Beats the Market | Contrarian Investment Strategies | The Interpretation of Financial Statements | Value Investing
The need to switch to a new approach for investing has never been more urgent. The Crash of 2007 revealed in dramatic fashion that there are glaring flaws in the theory that underlies all of the prevailing investment strategiesâefficient market theory. This theory, and all of the most popular investing strategies, fail to account for major, systematic errors in human judgment that the powerful new research in psychology David Dreman introduces has revealed, such as emotional over-reactions and a host of mental shortcuts in judgment that lead to wild over and under-valuations of stocks, bonds, and commodities and to bubbles and crashes. It also leads to horribly flawed assessments of risk.
Dreman shows exactly how the new psychological findings definitively refute those strategies and reveals how his alternative contrarian strategies do a powerful job of accounting for them. He shows readers how by being aware of these new findings, they can become saavy psychological investors, crash-proofing their portfolios and earning market beating long-term returns. He also introduces a new theory of risk and substantially updates his core contrarian strategies with a number of highly effective methods for facing the most pressing challenges in the coming years, such as greatly increased volatility and the prospect of inflation. This is every investorâs essential guide to optimal investing.
About: A revision of the investment authority's original work presents strategies for value investing based on recent Nobel Prize-winning research in behavioral finance, covering such topics as the benefits of contrarian stocks, the irrelevance of IPOs, and the profitable potential of market downturns.
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