The game can be defined several ways: 1) something done as sport or fun; a diversion of sorts to keep things interesting, or 2) something more along the lines game theory, through math and weighing probabilities to decide on the most likely outcome. Keynes was one of the first to describe the markets as a game, one that is “intolerably boring and over-exacting to anyone who is entirely exempt from the gambling instinct; while he who has it must pay to this propensity the appropriate toll.” Chapter 2: Do not forget the Irregular Rule: If you don’t know who you are, this is an expensive place to find out! If those systems, actually worked — could always predict what everybody else was doing — everyone would use it, and it would stop working.

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But, mostly the book hammers home the point that investing is more a random walk than a logical progression. The people making big money are starting companies that they take public, the next big chunk is made by the investment advisors, bankers, and brokers. Last on the list is us – the individual investor. All the participants play the game differently. They make up their own set of rules and have a different definition of winning. And they often change the rules and the definition multiple times depending on how well they’re playing. Anyone whose orientation is toward where the action is, where the happenings happen, should buy a copy of The Money Game and read it with due diligence.”— Book World The author is rather personable and observant, yet another player on Wall Street, successful, but no one that will be remembered. He starts of rather light-heartedly, describing all the follies and personalities. Last half of the book wanders across the investment landscape with varying types of investors are explored.Hardcover. Condition: Very Good. A later impression. A clean unmarked copy in publisher's cloth. The cards and markers appear all there, and have been used, probably just on a couple of occasions. An enjoyable and refreshing read, especially for someone in the investment trade. Unlike the holier than thou value investing books, many of which I’ve had the pleasure of reading, this one does not claim that there is any meaning to the investment activity, other than acquisition of financial wealth, nor does it portray the “pursuit of alpha” as anything meaningful, an end in itself. The mass psychology has a way of taking hold of every new generation of investors because they’re too young to remember to any bad times and they’re undefeated in the current market. So they fall in love with “the New Math, the New Economics, and the New Market.” Hardcover. Condition: Very Good. 1st Edition. The Money Game, How to Play It: A New Instrument of Economic Education is both a book and a game. Sir Norman Angell was a noted pacifist and peace activist, who was awarded the Nobel Peace Prize in 1933. He designed The Money Game to teach young people about financial systems and economic theory. This copy is in excellent condition, with all pieces. A first edition of the game from 1928, with all cards present and unmarked. Everyone believes themselves to be a contrarian when really their part of the crowd. Also, human nature suggests most people find comfort being part of the crowd.

The Money Game by Adam Smith | Goodreads The Money Game by Adam Smith | Goodreads

When George J. W. Goodman puts forth his Irregular Rule , what he is ultimately asking you the reader is to know yourself before you show up to the Game. Know the type of investing strategy that works for you and your level of anxiety. Know your reasons, your whys, and your how’s. Because if you do not, you will be swept up one way or another by the Game. the end object of investment is serenity, and serenity can only be achieved by the avoidance of anxiety, and to avoid anxiety you have to know who you are and what you’re doing.” Crowds are somewhat like the sphinx of ancient fable: it is necessary to arrive at a solution of the problems offered by their psychology or to resign ourselves to being devoured by them.”— Gustave Le Bon, The Crowd: A Study of the Popular Mind, 1896 One of the few books you'll ever need in life. Never get emotional over a worthless piece of paper with fancy symbols and numbers. Save, invest, keep playing the game. God bless you Mr. Goodman.

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Why do they play the game? For many different reasons: the action, the image it presents, the sense of belonging (being in a crowd), being on the “inside”, the stories to brag to friends and strangers, basically, so they can say they play the game.

The Money Game by George Goodman | Goodreads

Long before the term behavioural finance there was someone writing about the significance of identity. Long before the witty Buffett-isms, someone wrote those same words as part of his Irregular Rules. And long before Michael Lewis carved out his own position as the Wall Street storyteller du jour, someone else did so with similar eloquent finesse. Today, nearly three months have passed since George J.W. Goodman died on January 3, 2014 - or, as the financial after world knew him by, Adam Smith. A name created for him by the publisher of New York Magazine so as to keep his weekly Wall Street columns anonymous. This pioneer among the key figures of the Enlightenment authored The Theory of Moral Sentiments. People consider the first modern work of economics as his magnum opus and widely cite this father. the prices seem to go up to about 50p, but there is no 20p coin - you have to pay in 1p, 2p, 5p andChapter 4: Since 80% of the market is psychology or deeper still human emotionality, the market can really be seen as a crowd. Because of this tendency, there is no substitute for good information, good research, and good ideas. I don't know how much relevance this book has to "the Game", as it is today in the new millenia, but this is a great account of history anyway - you get a deepdive into economic situation of the 60 and early 70s in US. This book was written in the 1960s so brokers are mostly a dying breed but the overall concept hasn’t changed. By the time an individual investor knows of that hot tip it has been sold by those professionals and we’re left holding the proverbial bag. Through a series of chapters asking questions and describing real events and real characters (real but masked), George J. W. Goodman sets out to explore the unexplored area of the markets … the emotional area. As he states very eloquently in Chapter 2, “There are fundamentals in the marketplace, but the unexplored area is the emotional area. All charts and breadth indicators and technical palaver are the statistician’s attempts to describe an emotional state.

Money Game by Angell - AbeBooks Money Game by Angell - AbeBooks

The Money Game” works the same way, but within the logic of Wall Street. “Yes,” it says, “money is a game, played by the rich and for the rich, and that’s as it should be.” ‘Adam Smith,’ the pseudonymous author, does a likeable job of pointing out the silliness of certain financial types (the amateur investor, the idiot expert, etc.) and teasing the financial powers that be, but this is all coming from a man who makes his money on Wall Street, who is inherently of the system he’s commenting on. His newspaper column, on which the book was based, apparently made a grand stir among financiers when it was published in the 1960’s – but it only made that stir because the financiers read it, because it stayed inside their world. You have to know yourself. You have to be observant and honest and learn from mistakes. The decisions made around investing paint a portrait of who we are — biases and all. It’s better to figure it out, learn from it, and use it to our advantage, then to ignore it, fight against it, and fail. These free online money games will help children with coin recognition, counting, adding and working out

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Greed and fear are the strongest emotions in the market. Nobody likes to watch others make more than them. And we hate losing more than like winning.