The Psyche: Emotions & the Market

Market analysts and more highfalutin economists who have been baffled in their efforts to explain the ups and downs of the stock market may have been looking in the wrong place. Booms and busts, says Psychoanalyst Henry Krystal of Michigan's Wayne State University, are not born in carloading reports or steel-output figures but in the unconscious minds of mortal men. If the economists want to understand better why the market acts the way it does, they had better start examining the customers' egos and keep digging until they hit pay dirt in the...

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