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    Mlodinow, Leonard - Subliminal: How Your Unconscious Mind Rules Your Behavior

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    Jayant Kumawat
    Leonard Mlodinow's book Subliminal argues that much of human decision making is actually controlled by the unconscious mind, rather than our conscious selves. The book draws on extensive research in neuroscience and psychology to show how the unconscious processes information and makes decisions before the conscious mind rationalizes choices. While not about finance directly, the book illuminates concepts in behavioral economics and finance by explaining irrational investor behaviors like overconfidence through the lens of unconscious decision making. Most importantly, the document argues investors would benefit from studying how the mind works, as it is their most important tool, rather than solely focusing on quantitative models and tools. Understanding how the unconscious rules behavior can help conscious minds regain some control over the decision

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    Mlodinow, Leonard - Subliminal: How Your Unconscious Mind Rules Your Behavior

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    Jayant Kumawat
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    Leonard Mlodinow's book Subliminal argues that much of human decision making is actually controlled by the unconscious mind, rather than our conscious selves. The book draws on extensive research in neuroscience and psychology to show how the unconscious processes information and makes decisions before the conscious mind rationalizes choices. While not about finance directly, the book illuminates concepts in behavioral economics and finance by explaining irrational investor behaviors like overconfidence through the lens of unconscious decision making. Most importantly, the document argues investors would benefit from studying how the mind works, as it is their most important tool, rather than solely focusing on quantitative models and tools. Understanding how the unconscious rules behavior can help conscious minds regain some control over the decision

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    2014-05-01_BR_AR

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    Leonard Mlodinow's book Subliminal argues that much of human decision making is actually controlled by the unconscious mind, rather than our conscious selves. The book draws on extensive research in neuroscience and psychology to show how the unconscious processes information and makes decisions before the conscious mind rationalizes choices. While not about finance directly, the book illuminates concepts in behavioral economics and finance by explaining irrational investor behaviors like overconfidence through the lens of unconscious decision making. Most importantly, the document argues investors would benefit from studying how the mind works, as it is their most important tool, rather than solely focusing on quantitative models and tools. Understanding how the unconscious rules behavior can help conscious minds regain some control over the decision

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    © All Rights Reserved
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    162 views1 page

    Mlodinow, Leonard - Subliminal: How Your Unconscious Mind Rules Your Behavior

    Uploaded by

    Jayant Kumawat
    Leonard Mlodinow's book Subliminal argues that much of human decision making is actually controlled by the unconscious mind, rather than our conscious selves. The book draws on extensive research in neuroscience and psychology to show how the unconscious processes information and makes decisions before the conscious mind rationalizes choices. While not about finance directly, the book illuminates concepts in behavioral economics and finance by explaining irrational investor behaviors like overconfidence through the lens of unconscious decision making. Most importantly, the document argues investors would benefit from studying how the mind works, as it is their most important tool, rather than solely focusing on quantitative models and tools. Understanding how the unconscious rules behavior can help conscious minds regain some control over the decision

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    of 1

    SHARING OF FINANCIAL WISDOM

    Mlodinow, Leonard - Subliminal: How Your Unconscious Mind Rules Your Behavior
    Random House, 2012, [Surrounding Knowledge] Grade

    “Who is the boss between you and mommy?” Now, why should you as an investor be
    “Who is the boss? You have to ask that? I’m the interested? After all, the book is almost
    boss. Mommy is only the decision maker.” completely devoid of any financial references.
    Woody Allen excels at portraying funny, pathetic Well, for one thing, the majority of investors are
    and often self-delusional characters. These lines trained in economics. Modern economics rely on
    from the film Mighty Aphrodite are a case in point. the idea of rational choice, which according to
    this book is more of an aberration than a norm.
    After reading the book Subliminal by Leonard The corollary is that most of our economic
    Mlodinow, Allen’s dialogue has taken on a models need rethinking.
    symbolic meaning for me. According to
    Mlodinow, we are all delusional about “who” is Secondly, the book adds texture and credibility
    in charge. You see, while you – that is your to many strands of behavioural economics. It
    conscious self – are parading around calling resonates well with the notion of System 1 vs.
    yourself boss, all the real decision making is System 2 thinking as popularised by e.g. Daniel
    quietly handled by your unconscious. Your Kahneman. A reader familiar with behavioural
    conscious mind merely gets to make up rational- finance will find many passages that illuminate
    sounding justifications for your choices after the and add detail to its findings. With a bit of
    fact but is happily unaware of its diminutive role. reflexion it emerges that our unconscious is the
    culprit behind many types of irrational investor
    You may question why Leonoard Mlodinow behaviour, like overconfidence, stereotyping,
    should be the one to tell us how the mind works. framing and self-serving perception or memory.
    After all, his academic specialty is theoretical
    physics where he has collaborated with the Thirdly and most importantly, the book fills a
    subject’s superstar, Stephen Hawking, for many gap in the education of many investors. Most of
    years. But any doubts vanish when it becomes us have spent years and years trying to learn
    evident how thoroughly researched this book is. various research techniques, valuation models,
    The science is utterly credible and is delivered risk models and lots of other tools. And we
    with the same entertaining, exuberant style as his continue to spend countless hours either
    previous bestseller, The Drunkard’s Walk. perfecting those tools or cramming data into
    them. Yet all of these are in reality second-order
    Mlodinow has dug deeply into the burgeoning tools in the investor’s toolbox. Our first and
    field of neuroscience as well as experimental foremost tool is of course the mind we employ
    psychology. The two combined are just now to try and interpret information and base
    opening doors to vast new areas of information decisions on it. The sad fact is that most
    about how human decisions are formed. Modern investors never think to spend a minute on
    brain-scanning equipment makes it possible to understanding the mind. As Mlodinow is keen to
    literally see what parts of the brain are doing the show us, the mind is well worth studying
    work. This has brought the role of the because with some effort, your conscious self
    unconscious back in the limelight after decades can in fact claw back a little of that decision
    of languishing as unfashionable leftovers from making from mommy.
    the Freudian era.

    Alf Riple, May 1, 2014

    Others may quote and refer to the contents on this website provided that they have the author's consent and proper
    reference is made to investingbythebooks.com.  

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