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Importance of Reading Psychology Books?

WheelsRCool

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Aug 12, 2007
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So I was reading and I got hit with the idea, anyone think reading some psychology books to understand basic human emotions and thought processes, and especially the interplay of fear and greed, could be useful for both business, investing, and other stuff to...?

I got the idea that this could apply to a lot of stuff, for example when doing business with other folks, you can gauge their reactions and learn about them by knowing how to observe them and so forth, with markets for spotting opportunities others miss, for investing in the stock market, you could gauge how markets will react by understanding psychology (in theory), like how PHX mentioned about fear being a bigger motivator than greed...?

What do you people think?
 

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MJ DeMarco

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Anything that adds to your arsenal of knowledge is important. Psychology is crucial in understanding customer motives, buying habits, employees, and more. So YES psychology increases your marketing know how -- what motivates people to buy. For professional traders, more money is made in down markets than up because of Psychology ... fear is stronger than greed.
 

White8

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Dec 6, 2007
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In college I had a prof with PhDs in both marketing and psychology. He was extremely sharp and normally spent his time starting companies (he was one of the founders of Figaro's Pizza) but enjoyed teaching so he would teach one class a term.

I think some study of psychology would be an excellent idea.
 

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