Maury Fertig – The Deadly 7 Sins of Investing

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Exploring the Essential Features of “Maury Fertig – The Deadly 7 Sins of Investing”

Are you a sinner when it comes to investing? During his long and successful career at Salomon Brothers, Maury Fertig witnessed many smart people making very bad investment decisions–all because they let their emotions influence their judgment. He realized that whether the result of ego, competitiveness, or just plain laziness, these dire behaviors were rooted in seven common and recognizable human weaknesses:* Envy: focusing on the success of others * Vanity, or Pride: an unwillingness to take advice * Lust: an infatuation with an investment, despite warnings that it is not sound * Avarice: a tendency to hold onto a stock for too long, decreasing its return * Anger, or Wrath: irrational behavior that sacrifices steady progress for a quick hit * Gluttony: compulsive and excessive investing * Sloth: ignoring finances altogether

The Seven Deadly Sins of Investing helps readers recognize their investing vices, and offers practical strategies to help them correct the error of their ways. Illustrated by real stories about real investors who have given in to temptation, the book provides solid financial advice for avoiding common pitfalls and staying on the path to “salvation”–and wealth.

Editorial Reviews
Review
Humberto Cruz, nationally syndicated personal finance columnist: “Fertig does a pretty thorough and entertaining job of identifying and illustrating typical investor mistakes and suggesting ways to avoid them…I particularly recommend the book to anybody who thinks picking stocks is child’s play or who feels tempted to chase after the next investment fad.”

“…by focusing on the seven deadly sins, Mr. Fertig has provided a checklist of what not to do when it comes to investing. And anything that may keep you from losing money is a good thing indeed.”

-New York Times

“…Mr. Fertig has provided a checklist of what not to do when it comes to investing… a good thing indeed.”

-New York Times

Book Description
“Are you a sinner when it comes to investing? During his long and successful career at Salomon Brothers, Maury Fertig witnessed many smart people making very bad investment decisions — all because they let their emotions influence their judgment. He realized that whether the result of ego, competitiveness, or just plain laziness, these dire behaviors were rooted in seven common and recognizable human weaknesses:

* Envy: focusing on the success of others

* Vanity, or Pride: an unwillingness to take advice

* Lust: an infatuation with an investment, despite warnings that it is not sound

* Avarice: a tendency to hold onto a stock for too long, decreasing its return

* Anger, or Wrath: irrational behavior that sacrifices steady progress for a quick hit

* Gluttony: compulsive and excessive investing

* Sloth: ignoring finances altogether

The Seven Deadly Sins of Investing helps readers recognize their investing vices, and offers practical strategies to help them correct the error of their ways. Illustrated by real stories about real investors who have given in to temptation, the book provides solid financial advice for avoiding common pitfalls and staying on the path to “salvation” — and wealth.”

About the Author
Maury Fertig (Northbrook, IL) is the founder of Relative Value Partners, a registered investment advisor, where he applies the strategies in this book with a wide range of clients. He was previously Managing Director for Corporate Bond Sales in the Midwest and Southwest for Salomon Smith Barney/Citigroup.

Product details
Publisher ‏ : ‎ AMACOM (July 17, 2006)
Language ‏ : ‎ English

Top reviews from the United States 

L. Masonson
5.0 out of 5 stars Critically Important Book for Investors
This is an unusual book on investing, as it provides neither advice on investing nor investment strategies. Instead it focuses solely on explaining the negative impact of specific investor emotional traits on investment performance. It is written in an easy-to-understand, friendly, conversational style.

Specifically, Fertig covers seven psychological factors that result in causing investors to perform poorly. These factors include: envy, pride, lust, greed, anger, gluttony and sloth. He covers these topics one at a time, and includes interesting personal stories and examples that clearly illustrate his key points.

From my own investment experience spanning 49 years, I can attest to the critical importance of keeping your emotional behavior and psychological weaknesses in check, otherwise investment results suffer. Too many investors buy at the top and sell at the bottom, because they were never strong enough to overcome their weaknesses. Hopefully, by reading this enjoyable book and thinking about their own situations and need for discipline, and taking corrective ACTION, the reader will improve his/her investment performance.

We live in an age of instant gratification, instant messaging, and an overabundance of stock market commentary from the TV talking heads and media outlets. All this extraneous information (not knowledge) negatively impacts investors thought processes. Investing is not a game and should be considered a place to have fun. Investors need to get control of their internal weaknesses and realize what factors need to be overcome to be successful. This book fills that need very well. Along with books on charting and stock market strategies, this book is part of the trilogy of books that potential investors need to read to become successful.

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