With my second book summary, at least on the surface, I am risking to surprise some of my readers. The reason is that the subtitle reads “Why normal thinking never wins the trading game”. The word “never” is underlined on the book cover. My emphasis is on “trading game”. While I have neither secretly switched to day trading, nor do I pursue any such goals, nor do I play any type of game as a fundamentally driven analyst and investor, I have found it nonetheless very insightful to take on the perspective of a day trader. Quite a few of the book’s core messages indeed do resonate well with my own thoughts and approach on portfolio management as well as psychological strength in stock investing.
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The Panic of 1907 – a financial chain reaction
With this Weekly, I am finally writing my first book review. The book I now finished, is about the financial panic of 1907. However, it is not just a short-lived event with a simple crash in stock markets, limited to that particular year, as the title might suggest. Furthermore, it is about a sequence of events that caused a chain reaction of significant relevance, laying the foundation for the creation of the Federal Reserve Bank (although not what you know today).
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