What I Learned Losing a Million Dollars (1994) is the story of a trader’s rise to the top and the bad decisions that cost him a fortune. It examines the psychological and behavioral dimensions of market trading and asks why traders sometimes abandon all reason and allow losses to keep mounting until they become unmanageable. It explains not only how losses can be avoided but also why avoiding them is far more important than making money if you want to succeed.
Jim Paul grew up in a poor family in Kentucky. He later became a futures trader and lost a million dollars by making a bad investment decision. Paul went on to work as a vice president at Morgan Stanley.
Brendan Moynihan is the managing director of Marketfield Asset Management as well as a professor of finance at Vanderbilt University. He is the author of Financial Origami: How the Wall Street Model Broke.
What is Blinkist?
The Blinkist app gives you the key ideas from a bestselling nonfiction book in just 15 minutes. Available in bitesize text and audio, the app makes it easier than ever to find time to read.Start free trial
Get unlimited access to the most important ideas in business, investing, marketing, psychology, politics, and more. Stay ahead of the curve with recommended reading lists curated by experts.Start free trial