Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing

Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing

by Joel Tillinghast

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Overview

Market mistakes to avoid: “Written for investors at all levels…[a] practical, no-nonsense guide.”—Publishers Weekly
 
One of Money Week’s Five Best Books of the Year
 
Investors are tempted daily by misleading or incomplete information. They may make a lucky bet, realize a sizable profit, and find themselves full of confidence. Their next high-stakes gamble might backfire, not only hitting them in the balance sheet but also taking a mental and emotional toll. Even veteran investors can be caught off guard: a news item may suddenly cause havoc for an industry they’ve invested in; crowd mentality among fellow investors may skew the market; a CEO may turn out to be unprepared to effectively guide a company. How can one stay focused in such a volatile world? If you can’t trust your past successes to plan and predict, how can you avoid risky situations in the future?

Patience and methodical planning will pay far greater dividends than flashy investments. In Big Money Thinks Small, veteran fund manager Joel Tillinghast shows investors how to avoid making these mistakes. He offers a set of simple but crucial steps to successful investing, including:

· Know yourself, how you arrive at decisions, and how you might be susceptible to self-deception
· Make decisions based on your own expertise, and do not invest in what you don’t understand
· Select only trustworthy and capable colleagues and collaborators
· Learn how to identify and avoid investments with inherent flaws
· Always search for bargains, and never forget that the first responsibility of an investor is to identify mispriced stocks

Product Details

ISBN-13: 9780231544696
Publisher: Columbia University Press
Publication date: 08/15/2017
Series: Columbia Business School Publishing
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 314
Sales rank: 497,254
File size: 1 MB

About the Author

Joel Tillinghast is a Chartered Financial Analyst (CFA) charterholder and thirty-six-year veteran of the investments industry. He has been the manager of the Fidelity® Low-Priced Stock Fund since 1989.

Table of Contents

Foreword
Acknowledgments
Part I: Sleight of Mind
1. It’s a Mad, Mad World
2. Silly Human Tricks (Decision Biases)
3. Gamblers, Speculators, and Investors
4. Mind Over Money
Part II: Blind Spots
5. Need to Know?
6. It's the Simple Life for Me
7. Thinking Small
8. Bulls in the China Shop
Part III: Honest, Capable Fiduciaries
9. Dare to Be Great! Or, Distinctive Character
10. Bang for the Buck
11. Do the Bad Guys Wear Black Hats?
12. Shipping Bricks and Other Accounting Riddles
Part IV: Live Long and Prosper
13. Is the End Near?
14. Oil Gushers and Slicks
15. Tech Stocks and Science Fiction
16. How Much Debt Is Too Much?
Part V: What’s It Worth?
17. Will the Lowest Be Raised Up?
18. Which Earnings Number?
19. The Art of Judging Value
20. Double Bubble Trouble
21. Two Paradigms
Index

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