Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
The Hour Between Dog and Wolf: How Risk Taking Transforms Us, Body and Mind Paperback – September 24, 2013
|New from||Used from|
See the Best Books of the Month
Want to know our Editors' picks for the best books of the month? Browse Best Books of the Month, featuring our favorite new books in more than a dozen categories.
Frequently Bought Together
Customers Who Bought This Item Also Bought
Foreign Policy Must Read 2012 Books from Global Thinkers
“A profoundly unconventional book… It’s also so absorbing that I wound up reading it twice… From the first page to the last, Coates challenges deep-seated assumptions.”—Bloomberg Businessweek
“If anyone is qualified to unify the seemingly disparate subjects of financial markets and neurology, it’s John Coates…The Hour Between Dog and Wolf is a powerful distillation of his work—and an important step in the ongoing struggle to free economics from rational-actor theory.”—The Daily Beast
“[I]t makes intuitive sense that biological responses inform the mood of the markets. This book puts flesh on that idea.”—The Economist
“[A] scintillating treatise on the neurobiology of the business cycle. Coates… draws an intimate portrait of life on a trading floor …The result is a provocative and entertaining take on the irrational exuberance—and anxiety—of the modern economy.”—Publishers Weekly
“A provocative challenger to rational choice views of high finance, Coates makes an exceptionally clear, readable presentation that is bound to influence arguments about the regulation of Wall Street.”—Booklist
“An in-depth look at how financial risk-taking is linked to human biology, especially to the testosterone levels of young male traders, and the implications of this phenomenon for financial markets and the wider economy.”—Kirkus
About the Author
Top Customer Reviews
The subtitle for the book is called "Risk Taking, Gut Feelings and the Biology of Boom and Bust" and it is by the neuro-scientist and former Wall Street Trader John Coates. In order to piggy back on the seemingly insatiable demand for books on the credit crisis of 2008, most reviews and editorials in major magazines have focused upon the risk taking side of the book and how pressures of trading can change the biological composition of your body, impacting your appetite for risk (success builds a feeling of overconfidence and a greater appetite for risk) thus having the potential to cause booms and busts in stock markets and the broader economy. A substantial part (but not overwhelming) of the book is about finance and trading and author uses a trio of fictional fixed income (bond) traders during the 2008 crisis to illustrate his points, and this keeps the text from becoming too academic or dry.
But what also interested me was the more general topic on how humans are not disembodied brains who make rational decisions, but that our thinking is very much impacted by our body and our senses. There is a lot of analysis here on how the brain regions processing our reasoning skills are intricately tangled up with our motor circuits and are intimately linked to movement. There is also a whole level of activity where there is a feedback loop between our hormones and our thinking, and a lot of this is on a pre-conscious level.Read more ›
The Hour Between Dog and Wolf is quite fascinating. We have this idea that our behavior is driven solely or mostly by our choices, choices that we consciously make. Research in the last few decades is making this harder and harder to accept. This book does an excellent job at showing how our behavior is much more complicated and that our body chemistry plays a big part in influencing our brain and our behavior.
I really liked this book and found it fascinating. Its ideas apply to much more than the trading context in which it is set. If you are interested in science, human behavior, or the brain I can easily recommend it.
The first section is titled Mind and Body in the Financial Markets. The backdrop is the internet bubble and questions of exuberance in markets is pondered. The author introduces testosterone and cortisol as potential active molecules in impacting decision. Basic concepts of mind body separation are included. The author then goes on to describe the mind as facilitating the body. He discusses how if one view our purpose in life as to move, then the mind is just an elaborate mechanism to facilitate that movement more productively. This helps give the platform to understand us as being always being a vehicle for movement and that we should not deny the signals our body sends us.
The second section - Gut Thinking discusses the way our instincts can propogate through the nervous system. He discusses how our body's instincts operate on a much faster speed than our computational thought. This subject matter is similar to that of many behavioural scientists and is akin to Kahneman in fast and slow thinking. The value of relying on instincts is studied and our instincts are shown to be very good at pattern recognition which can fail when we are faced with randomness.Read more ›
Most Recent Customer Reviews
worth your time to read, and then, to think about how you (and your body) should work together for a better decision making.Published 2 months ago by Amazon Customer
The author may have a good point about hormones affecting trading especially for younger men. But the books is written with extremely technical and very tedious medical jargon. Read morePublished 3 months ago by Amazon Customer
Shares various reasons and drivers behind our decision making process and our views toward risk and uncertainty. Read morePublished 4 months ago by Jay
Well I finally have found the first book in over 40 years that I just had to put down. I could not read another page.Published 6 months ago by None of your busineess
Excellent book. one can never know enough about how thinks under stress.Published 6 months ago by JOHN in Orlando