Why are stock markets so unpredictable? This question has engaged thousands of researchers in their respective areas of research for years. This very unpredictability of the market is the attribute that draws the brave and the cunning to itsnd playground. Some are gifted to rise in the swing of the market and the lesser mortals are reduced to doing self-analysis.

Why do stock prices fluctuate so violently? Why do smart people lose money?  Are people successful in timing the markets? The natural conclusion of my desperate quest led to a fledgling, little known field termed `Behavioral Finance'. A field where anthropology meets economics and psychology intersects with finance. Untaught in MBA curriculums across the world, it remains the domain of a few scholars and special interest groups.

After an extensive study of the literature on Behavioral Finance, I believe that its perfect application could make one a successful investor, making fewer mistakes. Even if one learns to identify some of the common psychological and cognitive errors that beset even the wisest investment professional, it may be enough. One will take a giant step forward. Standard economic theory starts with a flawed basic premisethe investor is a rational being who will always act to maximize his fiscal gain.

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