Download my book: “The Labyrinth of Illusions”

“The Labyrinth of Illusions” – my book on financial markets and human psychology.


  1. The Market as Chance: Shattered Expectations
  2. Enchanted with the Wrong Questions
  3. Behind the Price
  4. Volatility as a Thing in Itself
  5. The Dangerous Allure of Historical Data
  6. The Sources of Profitability: Who Pays for Success?
  7. The Market as a Business: The Elements of the Plan
  8. The Source of Inefficiency and the Labyrinth of Illusions
  9. The Learned Helplessness of Managed Reality
  10. Chasing Luck: A Business or a Lottery?
  11. In the Depths of the Psyche: The Invisible Roots of the Labyrinth
  12. Behavioral Biases and Vicious Cycles
  13. The Investor and the Market: An Imperfect Relationship
  14. The Question of Motivation: The Power of Misguided Goals
  15. The Infosphere: Magical Helpers from Fairyland
  16. Success Stories: Siren Songs
  17. The Trap of Overcomplexity
  18. Effects of the Labyrinth and Emotional Markers
  19. The Emotional Structure of the Price Cycle
  20. Quasi-Assets: A Multicolored Narrative
  21. Behavioral Advantage: The Key to Efficiency
  22. Illusion Control in Practice
  23. Adjusting Your Sights: Shifting Emphasis
  24. Independence and Room to Maneuver
  25. What Is Risk?
  26. The Frame of Restrictions: The Breaking Point
  27. In Search of Strong Assumptions
  28. The Many Faces of Price Distortion
  29. What Next?
  30. Money Management: New Challenges

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