Join Now
Books

Book Review: Why You Win Or Lose - The Psychology of Speculation by Fred Kelly

Fred C. Kelly (1882-1959) was an “amateur psychologist”, writer, traveler, columnist, and even a special agent for the FBI. Kelly went on to be the official biographer of the Wright Brothers (1943). In addition, Kelly was a trader and active market participant in the late 1920’s. In 1930, Kelly

Fred C. Kelly (1882-1959) was an “amateur psychologist”, writer, traveler, columnist, and even a special agent for the FBI. Kelly went on to be the official biographer of the Wright Brothers (1943). In addition, Kelly was a trader and active market participant in the late 1920’s.

In 1930, Kelly wrote: Why You Win or Lose: The Psychology of Speculation. I love reading these older books as it provides a window back in time. If this book was written today, it would not receive much acclaim, but in 1930 I’m sure Kelly’s thoughts on investor psychology were ahead of their time. Kelly said, “I learned that men win or lose not so much because of economic condition as because of human psychology.” The book doesn’t get much mention anywhere, so I thought I would highlight it. Readers must also understand that Kelly was a trader, not necessarily an investor, but many of his thoughts transcend into investing. Here are a couple snippets:

kelly 2

Kelly1

If you enjoy reading about investor-trader behavior, psychology, and are a student of market history, you will enjoy this book. You should add Why You Win Or Lose to your “Classics” library as it is short (70 pages) and inexpensive ($4.50). You can find it on Amazon [HERE].

===> Interact and learn with 250+ of the best microcap investors on the planet. [Join Us]

MicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $500m market cap) trading on United States, Canadian, European, and Australian markets. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Since 2011, our members have profiled 1000+ microcap companies. Investors can join our community by applying to become a member or subscribing to gain instant view only access. MicroCapClub’s mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information, visit http://microcapclub.com and https://microcapclub.com/summit/

Share
Sign up for more like this.

Get Alerted to our Next Educational Blog Post

Related posts
Gambler

Gambler

Both stock picker and gambler need to develop a systematic approach to become consistent enough to take money from the casino, sportsbook or the stock market over the long-run.

6 min read