INVESTING AGAINST YOURSELF: Psychology, Behavior, and Emotional Discipline in Financial Markets

Why do informed investors, armed with solid analysis and adequate resources, consistently achieve results below what would be possible? The answer is not in the markets. It is in the mind of the investor.Investing Against Yourself explores the most dangerous adversary any investor faces: their own behavior. This book reveals the psychological mechanisms that silently undermine financial decisions - from the fear of losing money to the illusion of control, from paralyzing regret to the urge to follow the crowd.Across sixteen chapters, the author guides the reader through four essential stages. First, he uncovers how the investor's mind works under pressure - the two systems of thought, loss aversion, and the weight of regret. Then, he examines the central dilemma of any portfolio: sell or hold? Next, he analyzes the most common mistakes - selling too early, holding too long, following the herd, and judging decisions using information that did not exist at the time they were made. Finally, he proposes a practical path forward: simple rules, emotional discipline, long-term thinking, and acceptance of uncertainty as a fundamental condition of the markets.Through concrete examples - from the crises of 2008 and 2020 to the cases of Apple, Blockbuster, Nokia, and Kodak - the book teaches self-awareness applied to finance, so that readers can recognize their blind spots and make decisions that serve their long-term interests.Who this book is for: Individual investors - from beginners to experienced market participants - who want to understand why they make the decisions they make and how they can become more disciplined, patient, and rational in managing their money.What you will find: - The cognitive biases that distort financial decisions and how to recognize them- Practical tools to separate emotion from analysis- Landmark studies and real market data- Lessons from the greatest investors in history- An accessible approach, free of unnecessary technical jargonBecause the investor's greatest risk is not in the market - it is in the mirror.About the AuthorSérgio Paulo Candeias is an author and educator in the field of financial literacy, with more than 25 years of experience in Banking and Asset Management. He is Associate Director in the Finance Department of Banco BPI, with responsibilities as a Senior Trader on the Foreign Exchange Desk and recognized experience in the management of institutional investment portfolios, mutual funds, and private banking. He is also co-author of Poupar, Investir e Gastar- Multiplicar o Futuro com Inteligência Financeira