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)

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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.