What I Learned Losing a Million Dollars
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What I Learned Losing a Million Dollars
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Narrated by:
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Patrick Lawlor
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Written by:
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Jim Paul
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Brendan Moynihan
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Jack Schwager - foreword
About this listen
Tim Ferriss Book Club Selection
Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all - his fortune, his reputation, and his job - in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book - winner of a 2014 Axiom Business Book award gold medal - begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it - primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources.
Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.
Also included is a bonus hour-long interview between co-author Brendon Moynihan and noted investor, business advisor, and best-selling author Tim Ferriss.
©2013 Brendan Moynihan (P)2014 Tim FerrissCritic Reviews
What listeners say about What I Learned Losing a Million Dollars
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Deepanshu jindal
- 29-10-21
What I Learned Losing a Million Dollars
Very important book for anyone who wants to invest in the market. The early you read this the better.
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Amazon Customer
- 13-01-21
good book
good book for beginners specially who gets carried away in market blindly and get lost. this book will help them to be wise and thoughtful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Srinivas Ganapathi
- 03-03-21
A beautiful narration
A lovely story telling style makes the book awesome . A beautiful and wonderful book to hear
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1 person found this helpful
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Overall4 out of 5 stars
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Performance4 out of 5 stars
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Story5 out of 5 stars
- Amazon Customer
- 28-02-20
An informative, entertaining and educational book
An informative, entertaining and educational book that sums up the psychology behind making losses in trading, and dealing with them based on the author's experiences.
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1 person found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Ayush D
- 25-02-21
Excellent Lessons - Great Narration!
Very well narrated. Brilliant lessons that any person looking to make money through almost any instrument should surely read. Lot to learn!
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1 person found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Sanjiv
- 27-05-20
Essential tool kit for investors
A text book for investors and traders. A must have plan for control over emotions and ego.
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1 person found this helpful
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Overall1 out of 5 stars
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Performance1 out of 5 stars
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Story1 out of 5 stars
- Gaurav Yadvanshi
- 11-06-24
Too much unnecessary information
The background story of author , preaching his charisma, and so much unnecessary information like dating Tip, school, army etc is unnecessary. Wasted my time and credit on this book ... not recommended I expected something close to "Best looser wins", but this book is not even 10% of it
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1 person found this helpful