What I Learned Losing a Million Dollars by Jim Paul & Brendan Moynihan Summary
Overview of What I Learned Losing a Million Dollars
Jim Paul's cautionary tale of losing a million dollars teaches what most finance books don't - how not to lose money. This Axiom Award winner reveals why emotional control trumps strategy, making it required reading for traders who want lasting success.
Similar books to What I Learned Losing a Million Dollars
通过作者的声音感受这本书
将知识转化为引人入胜、富含实例的见解
快速捕捉核心观点，高效学习
以有趣互动的方式享受这本书
核心要点
The Million-Dollar Mistake: A Cautionary Tale
Jim Paul's journey from Kentucky caddy to Chicago trading titan-and his subsequent financial implosion-offers a masterclass in market psychology. At nine years old, Paul got his first taste of wealth caddying at Summit Hills Country Club. Watching members with their Cadillacs and country club lifestyles planted a seed: what mattered wasn't what you did, but how much you got paid doing it. This philosophy guided his unconventional path through college, military service, and eventually to the Chicago Mercantile Exchange, where his aggressive style and strategic networking propelled him to the inner circle of market power. By 1980, Paul had it all-handling 25% of daily lumber contracts, serving on the CME's Executive Committee, and earning hundreds of thousands annually. His success reinforced a dangerous belief: he was special, different, better than others. When the lumber market dried up in 1983, he pivoted to soybean oil spreads, building massive positions that initially paid off spectacularly. One day alone netted him $248,000-vindication of his self-perceived genius. Then the market turned. For months, Paul lost $20,000-$25,000 daily while rationalizing every drop. Sophisticated clients bailed out, but he held on, convinced the world would run out of bean oil and he'd make $10 million. By October, his positions had plummeted, and margin calls mounted. In just 75 days, he lost everything-money, exchange membership, job, and self-respect. What went wrong? He'd never actually been a trader-just a well-connected salesman who confused luck with skill.
The Paradox of Market Wisdom
When Markets Become Personal: The Psychology of Loss
The Gambling Fallacy: Risk, Probability, and Prediction
The Psychological Crowd: When Individuals Become the Herd
The Shield: How a Written Plan Protects You From Yourself
The Paradox of Market Success: Do What Feels Good
快速摘要模式 - 9分钟阅读或收听《What I Learned Losing a Million Dollars》摘要
将《What I Learned Losing a Million Dollars》的核心观点拆解为易于理解的要点，了解创新团队如何创造、协作和成长。
闪卡模式 - 《What I Learned Losing a Million Dollars》精华：9条核心见解
将《What I Learned Losing a Million Dollars》提炼为快速记忆要点，突出坦诚、团队合作和创造力的关键原则。
趣味模式 - 《What I Learned Losing a Million Dollars》的启示 - 20分钟故事
通过生动的故事体验《What I Learned Losing a Million Dollars》，将创新经验转化为令人难忘且可应用的精彩时刻。
个性化模式 - 0分钟阅读或收听《What I Learned Losing a Million Dollars》摘要
随心提问，选择声音，共同创造真正与你产生共鸣的见解。
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
免费获取《What I Learned Losing a Million Dollars》摘要的 PDF 或 EPUB 版本。可打印或随时离线阅读。