Private Wealth Roundup: Top 10 Behavioral Psychology Books, Asian Millionaires, and Slackers

Amid all the buzz about athletes and the Olympics, two of the most interesting articles I came across recently were about marathon runners: one a champion, the other a cheat. Both offered insights into human psychology and what separates winners from losers.

Here are some of my favorite reads for financial advisers from the past few weeks:

Behavioral Finance

• 10 Behavioral Psychology Books for Investors (The Big Picture)
• What Makes People Take Big Risks (LiveScience)
• Behavioral Finance: The Investment Mistakes Caused by Framing (ISACO)
• It is 1-3-2: Bronze Medal Winners are Happier than Silver (Work Matters blog)
• Want a healthier LONGER life? Stop Lying. (Psychology Today)
• Cheaters Gets 'High' from Breaking the Rules: Study (Huffington Post) and the related study: The Cheater's High: The Unexpected Affective Benefits of Unethical Behavior (SSRN)

Practice (People) Management

• Flummoxed by Failure — or Focused? (Wall Street Journal)
• Narcissism: The Difference Between High Achievers and Leaders (HBR)

Taxes, Estate Planning, and Retirement

• Our Ridiculous Approach to Retirement (New York Times)
• 12 Estate Planning Questions That Might Make You Squirm (Forbes)
• Estate Planning Questions Advisors Ask When They Get Together (Forbes)
• Single-Sex Married Couples Could Soon Realize Estate Tax Benefits (Fiduciary Trust)

The Industry

• Asian Millionaires Firing Banks Take Charge of Own Wealth (Bloomberg)

And now for something completely different:

• Slackers: Alberto Salazar and the Art of Exhaustion (The New Yorker, subscription required)
• Marathon Man: A Michigan Dentist’s Improbable Transformation (The New Yorker, subscription required)

For more news and trends, visit the Private Wealth Management Community of Practice.

Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.