One of the best books I've enjoyed on negotiation is by Chris Voss - Never Split the Difference. If you haven't read it, Chris Voss was a hostage negotiator for the FBI, and there are some really great stories and insights in there.
The documentary Mind Over Money: Nova (2010) by director/producer Malcolm Clark about research studies on behavioral economics might be of interest.
Life Lesson:
Emotion may lead you to make bad financial decisions. For example, people who feel sad will pay more, sometimes four times more, for a consumer product than those who do not feel sad.
Movie Scene:
Dan Mathisson (Credit Suisse): “The market is an aggregation of what thousands of people think the future is going to be like. And if these people are optimistic about the future, the market goes up, and if people are pessimistic about the future, the market goes down. But at the end of the day, the question the market answers is, ‘Are people optimistic or are they pessimistic?’ And that’s a psychological question. Emotion still drives the markets.”
One of the best books I've enjoyed on negotiation is by Chris Voss - Never Split the Difference. If you haven't read it, Chris Voss was a hostage negotiator for the FBI, and there are some really great stories and insights in there.
The documentary Mind Over Money: Nova (2010) by director/producer Malcolm Clark about research studies on behavioral economics might be of interest.
Life Lesson:
Emotion may lead you to make bad financial decisions. For example, people who feel sad will pay more, sometimes four times more, for a consumer product than those who do not feel sad.
Movie Scene:
Dan Mathisson (Credit Suisse): “The market is an aggregation of what thousands of people think the future is going to be like. And if these people are optimistic about the future, the market goes up, and if people are pessimistic about the future, the market goes down. But at the end of the day, the question the market answers is, ‘Are people optimistic or are they pessimistic?’ And that’s a psychological question. Emotion still drives the markets.”