More Than You Know - by Michael Mauboussin (Paperback)

About the Book

Offering invaluable tools to better understand the concepts of choice and risk, More Than You Know uniquely blends practical advice and sound theory, sampling from a variety of sources and disciplines. Michael J. Mauboussin builds on the ideas of visionaries, including Warren Buffett and E. O. Wilson, but also finds wisdom in a broad and deep range of fields, such as casino gambling, horse racing, psychology, and evolutionary biology. He analyzes the strategies of poker experts David Sklansky and Puggy Pearson and pinpoints parallels between mate selection in guppies and stock market booms. For this updated and expanded edition, Mauboussin adds material on human cognition, management assessment, game theory, the role of intuition, and the mechanisms driving the market's mood swings, and he explains what these topics show about smart investing.

Book Synopsis

Since its first publication, Michael J. Mauboussin's popular guide to wise investing has been translated into eight languages and has been named best business book by BusinessWeek and best economics book by Strategy+Business. Now updated to reflect current research and expanded to include new chapters on investment philosophy, psychology, and strategy and science as they pertain to money management, this volume is more than ever the best chance to know more than the average investor.

Offering invaluable tools to better understand the concepts of choice and risk, More Than You Know is a unique blend of practical advice and sound theory, sampling from a wide variety of sources and disciplines. Mauboussin builds on the ideas of visionaries, including Warren Buffett and E. O. Wilson, but also finds wisdom in a broad and deep range of fields, such as casino gambling, horse racing, psychology, and evolutionary biology. He analyzes the strategies of poker experts David Sklansky and Puggy Pearson and pinpoints parallels between mate selection in guppies and stock market booms. For this edition, Mauboussin includes fresh thoughts on human cognition, management assessment, game theory, the role of intuition, and the mechanisms driving the market's mood swings, and explains what these topics tell us about smart investing.

More Than You Know is written with the professional investor in mind but extends far beyond the world of economics and finance. Mauboussin groups his essays into four parts-Investment Philosophy, Psychology of Investing, Innovation and Competitive Strategy, and Science and Complexity Theory-and he includes substantial references for further reading. A true eye-opener, More Than You Know shows how a multidisciplinary approach that pays close attention to process and the psychology of decision making offers the best chance for long-term financial results.

Review Quotes

A fun read that draws insights from a wide range of scholarly disciplines.-- "BusinessWeek"

An insightful book on investing and investment management.--Tom Bradley "Globe & Mail"

Anyone can appreciate its flashes of Oliver Sacks-like insight.-- "Bloomberg Magazine"

Few readers could come away from this book without being stimulated and intrigued.Los Angeles Times-- "Los Angeles Times"

Mauboussin is not your average Wall Street equity analyst... [his book] can be read for entertainment... or to broaden your investment thinking.-- "Publishers Weekly"

Refreshingly intelligent... engagingly shows how a multidisciplinary perspective can deepen your sense of how financial markets work.-- "Wall Street Journal"

Wonderfully thoughtful and insightful... sophisticated and accessible, intriguing and entertaining.The Washington Post-- "The Washington Post"

More Than You Know is a lucid explanation of the exciting new developments in behavioral economics and cognitive science on the rationality and irrationality of people's economic choices. Michael J. Mauboussin has an excellent understanding of the science of what it does and does not imply for investing, purchasing, and other real-life decisions. This book is essential reading for anyone interested in the science of human nature and its relevance to the world of finance.--Steven Pinker, Harvard University

A conceptually brilliant, highly practical book that every investor and analyst needs to read-several times. Mauboussin has no peers; he understands how value is created better than anyone, anywhere.--Clayton Christensen, Harvard Business School

A fascinating compendium-like a Ph.D. in investment wisdom. If you want to understand how the world's best investors think, you must read this book.--Bill Miller, Chairman and Chief Investment Officer, Legg Mason Capital Management

Mauboussin has found great insights about the science of human behavior in unconventional places and has written superbly about it.--Robert Sapolsky, Stanford University

About the Author

Michael J. Mauboussin is head of global financial strategies at Credit Suisse and an adjunct professor at Columbia Business School. He is the author of The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing and Think Twice: Harnessing the Power of Counterintuition.