The wisdom of markets and the madness of crowds

In this short guide to investing in markets, John Nugée explores the human emotions of greed, fear, optimism and stubbornness. He discusses how people react to risk and losses, the value of intuition and the dangers of consensus, the importance of planning and the even greater importance of flexibility when plans go awry. No book can make you a second Warren Buffett, but this book will help you avoid the worst mistakes and pitfalls.

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‘A great read, benefiting from a lifetime’s experience of markets, from within and without the central bank. In contrast to The Madness of Crowds, John Nugée brings us the wisdom of one individual who has managed large funds and who has a deep understanding of human nature.’

William Keegan
Senior Economics Editor, The Observer

‘I wish that this wise little book had been around many years ago when I started in markets.’

John Llewellyn
Llewellyn Consulting

‘This is a compendium of good recommendations, full of warnings against illusions, shortcuts and impossible promises, which only lead to disillusionment. Heeding it will help you make sound investment decisions and achieve better performance for your money.’

Francesco Papadia
Senior Fellow
Bruegel

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