From the Bookshelf

Carl Richards gives insights on how to avoid common investing mistakes in “The Behavior Gap: Simple Ways to Stop Doing Dumb Things With Money” (Portfolio/Penguin, 2012). Using a combination of plain language and well-thought-out graphics, the financial planner and blogger highlights many behavioral errors.

Richards’ graphics are at once very insightful and very simple—they look as though they were sketched on a white board with a black marker. For example, he has a chart that shows that as the number of forecasts increases, so does the chance of a single forecast being correct.

This is a book that could easily come across as condescending; fortunately, it is anything but. Richards incorporates much of his own experiences, making this a personable read. He also intersperses advice in each chapter, guiding readers to focus on working toward their long-term goals rather than worrying about things that are beyond their control.

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