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March 20th, 2015 | Business Insider

NY Times columnist’s new book on money draws from Gerstein Fisher Research Center paper

In an article titled “A simple lesson learned from a compulsive eater could make you a better investor,” Business Insider discusses the new book by New York Times “Wealth Matters” columnist Paul Sullivan, “The Thin Green Line: The Money Secrets of the Super Wealthy.” In the book, Sullivan cites data—and a compelling analogy—from a paper by Gregg S. Fisher and Philip Z. Maymin, “Preventing Emotional Investing: An Added Value of an Investment Advisor” (published in the Journal of Wealth Management) about how investors’ own actions can sabotage their chances of long-term financial success. Sullivan draws on the parallel in this paper between an anxious investor prone to making rash investment decisions based on market movements and a binge eater trying to overcome nighttime grazing. The binge eater in the example resorts to putting a lock on his refrigerator; according to the article, Sullivan argues that investors picture their long-term investments as “locked in a metaphorical refrigerator, away from your impulsive hands.”

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