What I Learned Losing a Million Dollars
Failed to add items
Add to Cart failed.
Add to Wish List failed.
Remove from wish list failed.
Follow podcast failed
Unfollow podcast failed
Buy Now for $25.00
No default payment method selected.
We are sorry. We are not allowed to sell this product with the selected payment method
-
Narrated by:
-
Patrick Lawlor
-
Written by:
-
Jim Paul
-
Brendan Moynihan
-
Jack Schwager - foreword
About this listen
Tim Ferriss Book Club Selection
Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all - his fortune, his reputation, and his job - in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors. This book - winner of a 2014 Axiom Business Book award gold medal - begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it - primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources.
Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.
Also included is a bonus hour-long interview between co-author Brendon Moynihan and noted investor, business advisor, and best-selling author Tim Ferriss.
©2013 Brendan Moynihan (P)2014 Tim FerrissYou may also enjoy...
-
The New Market Wizards
- Conversations with America's Top Traders
- Written by: Jack D. Schwager
- Narrated by: DJ Holte
- Length: 16 hrs and 1 min
- Unabridged
-
Overall
-
Performance
-
Story
In The New Market Wizards, successful traders relate the financial strategies that have rocketed them to success. Asking questions that listeners with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic.
-
-
Chapters
- By Jeremy on 2018-10-04
Written by: Jack D. Schwager
-
Mastering Trading Psychology
- Improve Your Trading with Firsthand Reports by Real-Life Traders
- Written by: Andrew Aziz, Mike Baehr
- Narrated by: Chris Abell
- Length: 9 hrs and 19 mins
- Unabridged
-
Overall
-
Performance
-
Story
Andrew Aziz describes technology, strategy, and psychology as the three essential pillars of successful trading, and he knows that the psychological aspects of trading are the most likely to be underestimated or even ignored. He wrote Mastering Trading Psychology to help traders enhance their understanding of this crucial pillar of trading and to strengthen their "mental skills" in order to maximize their performance.
-
-
what is this? a Simpsons greatest hits episode?
- By Anonymous User on 2021-09-05
Written by: Andrew Aziz, and others
-
Unknown Market Wizards
- The Best Traders You've Never Heard Of
- Written by: Jack D. Schwager
- Narrated by: DJ Holte
- Length: 12 hrs
- Unabridged
-
Overall
-
Performance
-
Story
Unknown Market Wizards continues in the three-decade tradition of the hugely popular Market Wizards series, interviewing exceptionally successful traders to learn how they achieved their extraordinary performance results. The twist in Unknown Market Wizards is that the featured traders are individuals trading their own accounts. They are unknown to the investment world. Despite their anonymity, these traders have achieved performance records that rival, if not surpass, the best professional managers.
-
-
Kind of boring
- By Anonymous User on 2021-08-30
Written by: Jack D. Schwager
-
Advanced Techniques in Day Trading
- A Practical Guide to High Probability Strategies and Methods
- Written by: Andrew Aziz
- Narrated by: Chris Abell
- Length: 6 hrs and 54 mins
- Unabridged
-
Overall
-
Performance
-
Story
This well-thought-out training regimen begins with an in-depth look at the necessary tools of the trade, including your scanner, software, and platform, and then moves to practical advice on subjects such as how to find the right stocks to trade, how to define support and resistance levels, and how to best manage your trades in the stress of the moment.
-
-
hell fuckin yea bud
- By Anonymous User on 2020-09-22
Written by: Andrew Aziz
-
Food: A Cultural Culinary History
- Written by: Ken Albala, The Great Courses
- Narrated by: Ken Albala
- Length: 18 hrs and 22 mins
- Original Recording
-
Overall
-
Performance
-
Story
Eating is an indispensable human activity. As a result, whether we realize it or not, the drive to obtain food has been a major catalyst across all of history, from prehistoric times to the present. Epicure Jean-Anthelme Brillat-Savarin said it best: "Gastronomy governs the whole life of man."
-
-
This is a Western food history course
- By Anonymous User on 2019-05-15
Written by: Ken Albala, and others
-
Mastering the Market Cycle
- Getting the Odds on Your Side
- Written by: Howard Marks
- Narrated by: LJ Ganser, Howard Marks
- Length: 9 hrs and 39 mins
- Unabridged
-
Overall
-
Performance
-
Story
The legendary investor shows how to identify and master the cycles that govern the markets. We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets and companies, but also human psychology and the investing behaviors that result.
-
-
Good review on market cycles...
- By Anonymous User on 2019-02-14
Written by: Howard Marks
-
The New Market Wizards
- Conversations with America's Top Traders
- Written by: Jack D. Schwager
- Narrated by: DJ Holte
- Length: 16 hrs and 1 min
- Unabridged
-
Overall
-
Performance
-
Story
In The New Market Wizards, successful traders relate the financial strategies that have rocketed them to success. Asking questions that listeners with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic.
-
-
Chapters
- By Jeremy on 2018-10-04
Written by: Jack D. Schwager
-
Mastering Trading Psychology
- Improve Your Trading with Firsthand Reports by Real-Life Traders
- Written by: Andrew Aziz, Mike Baehr
- Narrated by: Chris Abell
- Length: 9 hrs and 19 mins
- Unabridged
-
Overall
-
Performance
-
Story
Andrew Aziz describes technology, strategy, and psychology as the three essential pillars of successful trading, and he knows that the psychological aspects of trading are the most likely to be underestimated or even ignored. He wrote Mastering Trading Psychology to help traders enhance their understanding of this crucial pillar of trading and to strengthen their "mental skills" in order to maximize their performance.
-
-
what is this? a Simpsons greatest hits episode?
- By Anonymous User on 2021-09-05
Written by: Andrew Aziz, and others
-
Unknown Market Wizards
- The Best Traders You've Never Heard Of
- Written by: Jack D. Schwager
- Narrated by: DJ Holte
- Length: 12 hrs
- Unabridged
-
Overall
-
Performance
-
Story
Unknown Market Wizards continues in the three-decade tradition of the hugely popular Market Wizards series, interviewing exceptionally successful traders to learn how they achieved their extraordinary performance results. The twist in Unknown Market Wizards is that the featured traders are individuals trading their own accounts. They are unknown to the investment world. Despite their anonymity, these traders have achieved performance records that rival, if not surpass, the best professional managers.
-
-
Kind of boring
- By Anonymous User on 2021-08-30
Written by: Jack D. Schwager
-
Advanced Techniques in Day Trading
- A Practical Guide to High Probability Strategies and Methods
- Written by: Andrew Aziz
- Narrated by: Chris Abell
- Length: 6 hrs and 54 mins
- Unabridged
-
Overall
-
Performance
-
Story
This well-thought-out training regimen begins with an in-depth look at the necessary tools of the trade, including your scanner, software, and platform, and then moves to practical advice on subjects such as how to find the right stocks to trade, how to define support and resistance levels, and how to best manage your trades in the stress of the moment.
-
-
hell fuckin yea bud
- By Anonymous User on 2020-09-22
Written by: Andrew Aziz
-
Food: A Cultural Culinary History
- Written by: Ken Albala, The Great Courses
- Narrated by: Ken Albala
- Length: 18 hrs and 22 mins
- Original Recording
-
Overall
-
Performance
-
Story
Eating is an indispensable human activity. As a result, whether we realize it or not, the drive to obtain food has been a major catalyst across all of history, from prehistoric times to the present. Epicure Jean-Anthelme Brillat-Savarin said it best: "Gastronomy governs the whole life of man."
-
-
This is a Western food history course
- By Anonymous User on 2019-05-15
Written by: Ken Albala, and others
-
Mastering the Market Cycle
- Getting the Odds on Your Side
- Written by: Howard Marks
- Narrated by: LJ Ganser, Howard Marks
- Length: 9 hrs and 39 mins
- Unabridged
-
Overall
-
Performance
-
Story
The legendary investor shows how to identify and master the cycles that govern the markets. We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets and companies, but also human psychology and the investing behaviors that result.
-
-
Good review on market cycles...
- By Anonymous User on 2019-02-14
Written by: Howard Marks
-
The Education of a Value Investor
- My Transformative Quest for Wealth, Wisdom and Enlightenment
- Written by: Guy Spier
- Narrated by: Malk Williams
- Length: 6 hrs and 28 mins
- Unabridged
-
Overall
-
Performance
-
Story
What happens when a young Wall Street investment banker spends a small fortune to have lunch with Warren Buffett? He becomes a real value investor. In this fascinating inside story, Guy Spier details his career from Harvard MBA to hedge fund manager. But the path was not so straightforward. Spier reveals his transformation from a Gordon Gekko wannabe, driven by greed, to a sophisticated investor who enjoys success without selling his soul to the highest bidder.
-
-
Excellent overall
- By Anonymous User on 2023-04-02
Written by: Guy Spier
-
The Complete TurtleTrader
- How 23 Novice Investors Became Overnight Millionaires
- Written by: Michael W. Covel
- Narrated by: Joel Richards
- Length: 10 hrs and 8 mins
- Unabridged
-
Overall
-
Performance
-
Story
This is the true story behind Wall Street legend Richard Dennis, his disciples, the Turtles, and the trading techniques that made them millionaires. What happens when ordinary people are taught a system to make extraordinary money? Richard Dennis made a fortune on Wall Street by investing according to a few simple rules.
-
-
What a waste
- By Anonymous User on 2020-12-12
Written by: Michael W. Covel
-
The Mental Game of Trading
- A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline
- Written by: Jared Tendler
- Narrated by: Jared Tendler
- Length: 9 hrs and 44 mins
- Unabridged
-
Overall
-
Performance
-
Story
If you are like most traders, you probably overlook or misunderstand mental and emotional obstacles. While many trading psychology books offer sound advice, they don't show you how to do the necessary work. That's why you haven't solved the problems hurting your performance. With straight talk and practical solutions, Jared Tendler brings a new voice to trading psychology. In The Mental Game of Trading, he busts myths about emotions, greed, and discipline, and shows you how to look past the obvious to identify the real reasons you're struggling.
-
-
Good, but outlines an unnecessary path to success
- By Anonymous User on 2021-07-05
Written by: Jared Tendler
-
How to Day Trade for a Living
- A Beginner's Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology
- Written by: Andrew Aziz
- Narrated by: Kevin Foley
- Length: 6 hrs and 56 mins
- Unabridged
-
Overall
-
Performance
-
Story
Very few careers can offer you the freedom, flexibility, and income that day trading does. As a day trader, you can live and work anywhere in the world. You can decide when to work and when not to work. You only answer to yourself. That is the life of the successful day trader. Many people aspire to it, but very few succeed. In the audiobook, I describe the fundamentals of day trading, explain how day trading is different from other styles of trading and investment, and elaborate on important trading strategies that many traders use every day.
-
-
Get some basics on YouTube than read this
- By Anonymous User on 2019-12-05
Written by: Andrew Aziz
-
Winning Methods of the Market Wizards with Jack Schwager
- Wiley Trading Audio
- Written by: Jack D. Schwager
- Narrated by: Jack D. Schwager
- Length: 54 mins
- Original Recording
-
Overall
-
Performance
-
Story
The renowned Market Wizards author and Trader's Hall of Fame award winner presents a powerful workshop highlighting the most common traits and techniques of the super traders. This rare session can help investors of all skill levels become market masters.
-
-
Listen to Jack’s Books Instead
- By Anonymous User on 2023-10-25
Written by: Jack D. Schwager
-
The Misbehavior of Markets
- A Fractal View of Financial Turbulence
- Written by: Benoit Mandelbrot, Richard L. Hudson
- Narrated by: Jason Olazabal
- Length: 10 hrs and 6 mins
- Unabridged
-
Overall
-
Performance
-
Story
In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets-a set of mathematical assumptions a century old and still learned by every MBA and financier in the world-simply does not work. As he did for the physical world in his classic The Fractal Geometry of Nature, Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior.
-
-
Very Good
- By Anonymous User on 2021-01-23
Written by: Benoit Mandelbrot, and others
-
Best Loser Wins
- Why Normal Thinking Never Wins the Trading Game
- Written by: Tom Hougaard
- Narrated by: Richard Faymonville
- Length: 6 hrs and 48 mins
- Unabridged
-
Overall
-
Performance
-
Story
Normal thinking leads to normal results. For exceptional results, traders must think differently. This book will guide and inspire you in ways no other trading book has. It is not about strategies and money management. It is about mind management. Tom Hougaard provides a unique and refreshingly personal account of how an ordinary trader elevated his game to incredible heights by focusing as much on his mental approach as on his technical analysis. Best Loser Wins explains how you, by thinking differently when you are trading, can elevate your game from mediocre to excellent.
-
-
it's a catchy title
- By Anonymous User on 2024-12-05
Written by: Tom Hougaard
-
The Most Important Thing
- Uncommon Sense for The Thoughtful Investor
- Written by: Howard Marks
- Narrated by: John FitzGibbon
- Length: 7 hrs and 9 mins
- Unabridged
-
Overall
-
Performance
-
Story
Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career.
-
-
Monotone reader
- By Anonymous User on 2023-11-10
Written by: Howard Marks
-
A Man for All Markets
- From Las Vegas to Wall Street, How I Beat the Dealer and the Market
- Written by: Edward O. Thorp, Nassim Nicholas Taleb - foreword
- Narrated by: Edward O. Thorp
- Length: 16 hrs and 30 mins
- Unabridged
-
Overall
-
Performance
-
Story
The incredible true story of the card-counting mathematics professor who taught the world how to beat the dealer and, as the first of the great quantitative investors, ushered in a revolution on Wall Street.
-
-
The Most Important and Useful Book of My Life
- By The Old Knife Man on 2022-11-28
Written by: Edward O. Thorp, and others
-
Liftoff
- Elon Musk and the Desperate Early Days that Launched SpaceX
- Written by: Eric Berger
- Narrated by: Rob Shapiro
- Length: 9 hrs and 3 mins
- Unabridged
-
Overall
-
Performance
-
Story
The dramatic inside story of the first four historic flights that launched SpaceX - and Elon Musk - from a shaky startup into the world's leading-edge rocket company.
-
-
Best book about SpaceX
- By Anonymous User on 2021-04-15
Written by: Eric Berger
-
The Price of Time
- The Real Story of Interest
- Written by: Edward Chancellor
- Narrated by: Luis Soto
- Length: 15 hrs and 7 mins
- Unabridged
-
Overall
-
Performance
-
Story
In the beginning was the loan, and the loan carried interest. For at least five millennia people have been borrowing and lending at interest. Yet as capitalism became established from the late Middle Ages onwards, denunciations of interest were tempered because interest was a necessary reward for lenders to part with their capital. And interest performs many other vital functions: it encourages people to save; enables them to place a value on precious assets, such as houses and all manner of financial securities; and allows us to price risk.
-
-
A Very INTERESTing Story
- By Anonymous User on 2024-10-31
Written by: Edward Chancellor
-
Trading for a Living
- Psychology, Trading Tactics, Money Management
- Written by: Alexander Elder
- Narrated by: Richard Davison
- Length: 2 hrs and 58 mins
- Abridged
-
Overall
-
Performance
-
Story
A hundred-thousand investors have turned to this best-selling guide for mastering successful trading by Dr. Alexander Elder, a professional trader, a world-classs expert in technical analysis, and a practicing psychiatrist. He believes that successful trading is based on three M's: Mind, Method, and Money. Trading for a Living helps discipline your Mind, shows you the Methods for trading the markets, and show you have to manage Money in your trading accounts.
-
-
Absolutely loved it.
- By Anonymous User on 2020-04-11
Written by: Alexander Elder
What the critics say
What listeners say about What I Learned Losing a Million Dollars
Average Customer RatingsReviews - Please select the tabs below to change the source of reviews.
-
Overall
-
Performance
-
Story
- Anonymous User
- 2018-11-27
Essential reading
This is a critical listen for anyone participating in markets. I only wish I had listened sooner.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
1 person found this helpful
-
Overall
-
Performance
-
Story
- Anonymous User
- 2018-09-13
great story telling
an entertaining narrator, great story, and a message that should be followed by all. #audible1
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
-
Overall
-
Performance
-
Story
- Anonymous User
- 2021-05-05
Awesome
Wasn’t expecting this book to be as good as it was it’s probably in my top 5, love how it took a different approach to investing by focusing on loss rather then profits, a must read for new investors
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
1 person found this helpful
-
Overall
-
Performance
-
Story
- Anonymous User
- 2021-03-09
great read on risk management
good read to try drill in the importance of having a strategy with risk management at the centre of everything
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
1 person found this helpful
-
Overall
-
Performance
-
Story
- Amazon Customer
- 2022-10-12
Vraiment important présentement
Je trouve que c'est un livre vraiment intéressant et important à lire pour aider les gens dans ce qu'on vit présentement.
Oui c'est l'enfer ce n'est pas obligé de l'être non plus.
C'est bizarre son raisonnement. Comme il dit ce n'est pas ce que tu fais, mais combien tu es payé pour le faire.
Pour moi c'est complètement différent. Je pense qu'on devrait tous être heureux au travail et le salaire devrait refléter la valeur que tu donnes à la compagnie pour laquelle tu travailles.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
-
Overall
-
Performance
-
Story
- Anonymous User
- 2018-09-13
A Must Read for Any Active Trader / Investor
This book is full of practical advise for active traders and investors. The author stresses the importance of having an exit plan before entering a market position and I cannot agree more. A good exit plan makes one money by ensuring you do not lose your head in a bull market and shirt in a bear market. As the author notes, "in trading it is not cowardly to live to fight another day." Highly recommended.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
2 people found this helpful
-
Overall
-
Performance
-
Story
- Anonymous User
- 2019-08-28
I am floored!
This is one of the best trading books I've read. The emphases is on the mentality of the trader...nothing else. I love this! will listen to this book a few more times...
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
3 people found this helpful
-
Overall
-
Performance
-
Story
- Anonymous User
- 2021-04-17
good content, good reader.
listened to it twice in a row. will probably return in a year or two. pretty short.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
-
Overall
-
Performance
-
Story
- Anonymous User
- 2021-01-05
Skip Part 1 If You've Been Trading For A Few Years
As someone who's been trading for years, most of what's in part 1 are lessons I've already experienced first-hand. The lessons have been learned. Part 2 of the book was worth a quick read through to get back to basics. Part 3 was where the real meat of the book is and the lessons are invaluable. I've re-read part 3 numerous times and it's great calibrator to have in any trader's library.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
-
Overall
-
Performance
-
Story
- Anonymous User
- 2021-04-23
An Object Lesson and Good Advice
I was hoping for more of a 'memoir'-type book when I bought this as a 'Daily Deal'. Rags-to-Riches-to-Rags stories are fascinating to me. I like to pick out my own lessons from those chronicles. Jim Paul's story has a modicum of that, but a money-obsessed Millionaire losing a couple Hundred Grand overnight (because of his obsession) doesn't really fit that profile for me. This book is mostly advice for people who work with money for a living - and it's good advice: Be aware of psychological factors that can make you overconfident (or, presumably, too hesitant) and make a plan to stick to. It reads like a lecture presentation to traders, brokers, and bankers at a seminar. To it's credit, the writing is clear, logical, and presented in terms that encourage interest [it (surprisingly) isn't boring!!]
A professional broker reading this book would almost certainly gain valuable insight while still being entertained.
(*Note: The book is a bit dated - even I know using Steve Jobs as an example of a failed entrepreneur was hilariously premature)
Patrick Lawlor is best described as an "average" reader. He is easily understandable, easy to listen to, and exhibits good cadence and timbre. He is clearly a Professional. But another reader could easily do an equally adequate job. Additionally, Lawlor's pacing is awful (I had to speed the recording to 1.25X to get a comfortable rhythm).
The $3.75 I spent on this probably could have been spent better elsewhere. I have investments (retirement funds, mostly), but am not interested *AT ALL* in trading and financial management. If I were deeply involved in that world, this book would have some clear, valuable lessons. Based on the lessons inherent in the tale, 'What I Learned Losing a Million Dollars' is likely worth 4.5 stars out of 5 for people immersed in that world (despite unspectacular narration). For me, It's not essential reading. I have to give it 2 stars. I should have left it to the Pros.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!