About the Book
"People are not naturally equipped to invest and trade securities to their advantage. If you've sold an investment at the wrong time, held a stock thinking that it would rebound, or regretted an investment decision in hindsight, you're in good company. Costly mistakes, however, are often due to natural shortcuts we use to process information quickly. The resulting errors are often avoidable when you adopt the critical habits offered in this book. By focusing on your personal economic principles and limiting the harmful effects of biased choices, you can reduce financial stress and grow wealth with more reliably. Unbiased Investor first walks readers through what can go wrong with financial decisions based on three main processes: 1. how we rely on decision-making shortcuts to understand the world around us 2. how we try to control risk at the worst moments 3. how we want to be right. The following chapters ask readers to consider their most critical financial goals, personal preferences, and skills in reaching those objectives then outlines how to adopt strategic habits to avoid bias in everyday financial choices. The book concludes with an overview of the deeper issues (including when to rely on expert advice and when not to, the perils of portfolio abandonment, and much more) and presents stories illustrating money's influence on happiness by considering how much money is enough and ties these themes back to the reader's personal economic principles"--
Book Synopsis
Make better financial choices, reduce money anxiety, and grow your wealth
In Unbiased Investor: Reduce Financial Stress and Keep More of Your Money, Portfolio Manager at CIBC World Markets, Coreen Sol, delivers an inspiring and illuminating roadmap to investing success. In the book, you'll explore the behavioral and psychological roadblocks to achieving optimal results from your portfolio and the strategies you can use to overcome them. You'll learn to focus on basic economic principles--rather than harmful psychological biases--to reduce financial stress and reliably grow wealth.
The book also shows you how to:
- Recognize the decision-making shortcuts (heuristics) we use to navigate and understand the world around us
- Avoid counter-productive and ineffective risk-management strategies that decrease returns without mitigating risk
- Consider your own financial goals, personal preferences, and skills in the creation of a strategy to make good financial choices, consistently
A powerful and easy-to-follow handbook for everyday investors, Unbiased Investor shows readers from all kinds of background the foundational, straightforward behaviors and habits we need to embrace to realize financial security.
From the Back Cover
PRAISE FOR UNBIASED INVESTOR
"Unbiased Investor is the perfect book for any investor in the market. Why? There is always financial risk and in periods of volatility there is a tendency to make emotional financial decisions. Coreen lays out the facts, helps you to build the plan, and more importantly, shares why it is critical to stick to the plan for your financial well-being."
--PATTIE LOVETT-REID, Chief Financial Commentator, HomeEquity Bank
"Investing is sometimes more art than science. Sol demonstrates that 'art' is often the science of knowing thyself. More than a systematic review of how psychology influences our decisions in predictable ways, her work guides investors to structure decision-making based on personal values and healthy habits to minimize the suboptimal outcomes."
-- STEPHEN HORAN, PhD, CFA, CIPM, CAIA, Executive Editor, Financial Planning Review, CFP Board
"The Unbiased Investor helps uncover our biases and how we make investment decisions that go against our better judgment. Most importantly, it provides ways to develop new approaches and habits that can lead to better financial well-being. A must-read for those on a journey towards rational, thoughtful investing!"
--DR. CHARLES CHAFFIN, Author of Numb and Psychology of Financial Planning
"A riveting read for anyone who is interested in understanding their relationship to money. I was shocked by how much I learned...even after having worked in the investment industry for over 30 years. Do yourself a favor and read this book!"
--BARBARA STEWART, CFA, Researcher and Author
"Coreen Sol has a passionate perspective about life. And that applies to her professional activities. She brings a deeply held set of values and analytical skills that collectively create the conditions for fresh insights and patterns that others miss. Unbiased Investor discusses the attributes that lead to positive financial decisions, whether they involve day-to-day consumer purchases or more significant transactions."
--DOUGLAS EYFORD, KC, Lawyer, Civil Litigator
"In an engaging and accessible fashion, this book helps you negotiate a path to a successful economic future. But, even more than that, it provides you with insights that will enhance how you think about and evaluate your world."
--MARK D. HOLDER, PhD, Professor, Bermuda College
About the Author
COREEN SOL, Chartered Financial Analyst, has helped investors avoid the impact of behavioral bias during extreme market events for more than three decades. She brings a unique view that combines an academic perspective with a compassionate understanding of how people feel about money in the real world. Coreen is a former adjunct professor at the University of British Columbia Okanagan, manages a private wealth practice in British Columbia, Canada, and sits as a director on the board of CFA Societies Canada, an advocacy organization for investment integrity.
