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7 Mistakes Every Investor Makes (And How To Avoid Them)

A manifesto for smarter investing

By Joachim Klement

Paperback £24.99 / $34.99
eBook £18.99 / $26.49
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7 Mistakes Every Investor Makes (And How To Avoid Them)

A manifesto for smarter investing

By Joachim Klement

Jacket text

Every investor makes mistakes. Private or professional, amateur or experienced, there is no exception.

And many of these are common mistakes. Whether or not they want to admit it, many investors have committed the same errors. How can you avoid these mistakes? How can you distinguish yourself as an investor and improve your performance?

Joachim Klement, research analyst and former Chief Investment Officer with 20 years’ experience in financial markets, has the answers.

Seven Mistakes Every Investor Makes (And How To Avoid Them) calls upon years of experience and scientific research to deliver expert insight into the most common mistakes plaguing investors. From there, Klement outlines his personal tools and techniques, developed, refined and successfully implemented over many years in the finance industry, to help avoid and mitigate such mistakes. His ultimate aim: to help you help yourself.

The mistakes covered include forecasting, short- and long-term orientation, repeating past errors, confirmation bias, not delegating to experts, and blind trust of traditional assumptions.

Seven Mistakes Every Investor Makes (And How to Avoid Them) is a must-have guide for every investor. Packed with scientific research and personal wisdom, this book draws together the most common investing mistakes in order to practically reveal how to overcome and eliminate them.

Don’t make another avoidable mistake by missing out on this book.

About the author

Joachim Klement is a research analyst and former Chief Investment Officer with 20 years’ experience in financial markets. He spent most of his career working with wealthy individuals and family offices advising them on investments and helping them manage their portfolios.

Joachim studied mathematics and physics at the Swiss Federal Institute of Technology (ETH) in Zurich, Switzerland and graduated with a master’s degree in mathematics. During his time at ETH, Joachim experienced the technology bubble of the late 1990s first hand. Through this work, he became interested in finance and investments and studied business administration at the Universities of Zurich and Hagen, Germany, graduating with a master’s degree in economics and finance and switching into the financial services industry in time for the run-up to the financial crisis.

Reviews

In this book, Joachim Klement explores the 7 common mistakes that every investor makes, backed with research findings that are so revealing and beneficial to help investors get aware of their mistakes. He gives you a great insight into finding the right balance between short term and long term orientation using the combination of trading and investment techinques which in my opinion sets this book apart from other investment books. The tools and techniques to overcome these mistakes are well researched and well defined. Overall, a must have in all the investors’ book shelves.

Thiru Nagappan, Trader and Founder of Master the Markets

Ever wonder why your investments underperform the market averages? In this beautifully written book, investment manager Joachim Klement tells you why. He explains the most common behavioral and cognitive errors that investors make, so you can correct them and improve your performance. This book is a fun and easy read – I highly recommend it!

Laurence B. Siegel, Director of Research, CFA Institute Research Foundation & author, Fewer, Richer, Greener

Joachim Klement is one of the smartest commentators on the markets today. This is one of the best books on finance I’ve ever read. It is packed full of insights. Every investor should read it.

Brett Arends, MarketWatch

It is a well written story, simple to read, very fluid and at the same time full of insights. I like the mix of personal experience and empirical findings in psychology, economics and finance et behavioural economics. It makes our mistakes a learning process. As someone once said, good decisions are based on experience and experience is based on bad decisions.

Yves Longchamp, Head of Research, SEBA Bank AG

This is a valuable add to any investor’s bookshelf. There is more than enough wisdom contained within to justify its purchase price.

Jason A. Voss, Author, Return of the Active Manager

Most of our investment mistakes derive from the fact that humans have a hard time dealing with uncertainty and complex systems. Traders and economists are humans too, Joachim does not forget it. That is why his latest book is relevant and invaluable to read. He takes us through a journey grounded on personal investment experience to devises the most common mechanisms that lead to investment failure. Reading Joachim’s book increases our awareness about the true mechanisms of finance. Investment results will follow.

Paolo Sironi, Author and Finch expert

Media coverage

From What Investment:

Klement gives a very balanced and objective commentary and analysis of this debate which has become polarised and in many cases irrational. If UK-based investors think about the fund managers which have served them well in the last 10-20 years – Baillie Gifford, Lindsell Train or Fundsmith – they all charge active fees.

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From Opto:

In his new book 7 Mistakes Every Investor Makes, published in February by Harriman House, Klement calls upon 20 years of investing experience to break down academic and scientific research of what went wrong on seven different occasions. He highlights what he has learnt from each mistake and the techniques he’s developed to avoid them… Read more »

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From The Market :

Kein Anleger ist gegen Fehler gefeit. Wie man sie erkennt und wie man sich wappnen kann, beschreibt Joachim Klement in «7 Mistakes Every Investor Makes».

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From The Irish Times:

This might suggest that bubble talk is mere hyperbole, but investment analyst Joachim Klement, who describes himself as a fan of ESG investing, says a green bubble may well be forming. Klement cites research presented at the first conference on the economics of climate change held by the San Francisco Federal Reserve last November, research… Read more »

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From Informed Choice Radio:

His new book is Seven Mistakes Every Investor Makes (And How To Avoid Them). It calls upon years of experience and scientific research to deliver expert insight into the most common mistakes plaguing investors. From there, Klement outlines his personal tools and techniques, developed, refined and successfully implemented over many years in the finance industry,… Read more »

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From Master Investor:

It is well-written and packed with a mix of economics, psychology and finance theory; complemented by stories of the author’s own career experience.

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From MoneyWeek:

Reading this book and reflecting on its advice will surely make you a better investor and reduce the chances of painful and costly errors.

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From MoneyWeek:

Reading this book and reflecting on its advice will surely make you a better investor and reduce the chances of painful and costly errors.

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From "Market Wrap" with Moe Ansari:

Interview with Joachim Klement, author of 7 Mistakes Every Investor Makes (And How to Avoid Them).

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From My Worst Investment Ever:

Joachim Klement experienced his worst investment in the early 2000s during the Dotcom bubble after investing in a tech fund. Sharing his story on our podcast inspired him to write the book 7 Mistakes Every Investor Makes (And How to Avoid Them): A Manifesto for Smarter Investing.

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Contents

Introduction, or How a Relay of Misery Can Lead to Good Things

Chapter 1: The Shortest Investment Joke: My Forecast
Chapter 2: The Long Term is Not the Sum of Short Terms
Chapter 3: Are You a Long-term Investor – or Just Stubborn?
Chapter 4: We Learn From History That We Do Not Learn From History
Chapter 5: Ignoring the Other Side of a Story
Chapter 6: You Get What You Pay For
Chapter 7: Navigating a Complex World
Chapter 8: Over To You



Published: 04/02/2020
Edition: 1st
Pages: 212
Formats: paperback - ISBN 9780857197702
ebook - ISBN 9780857197719
audio - ISBN
Media enquiries

If you’d like to get in touch with the author for interview or comment, or you’d like a review copy of this book, please contact us at pr@harriman-house.com or call +44 (0)1730 233870.

Rights

For information on available rights, please contact rights@harriman-house.com

Bulk purchases

We offer discounts for bulk purchases. Please contact specialsales@harriman-house.com for a quote.