Regular price: $20.97

Membership details Membership details
  • A 30-day trial plus your first audiobook, free.
  • 1 credit/month after trial – good for any book, any price.
  • Easy exchanges – swap any book you don’t love.
  • Keep your audiobooks, even if you cancel.
  • After your trial, Audible is just $14.95/month.
OR
In Cart

Publisher's Summary

A successful Wall Street trader turned Cambridge neuroscientist reveals the biology of boom and bust and how risk taking transforms our body chemistry, driving us to extremes of euphoria and risky behavior or stress and depression.

The laws of financial boom and bust, it turns out, have more than a little to do with male hormones. In a series of groundbreaking experiments, Dr. John Coates identified a feedback loop between testosterone and success that dramatically lowers the fear of risk in men - especially younger men. Significantly, the fear of risk is not reduced in women. Similarly, intense failure leads to a rise in levels of cortisol, the antitestosterone hormone, which lowers the appetite for risk across an entire spectrum of decisions.

Coates had set out to prove a strong intuition from his previous career: Before he became a world-class neuroscientist, Coates ran a derivatives desk in New York. As a successful trader on Wall Street, “the hour between dog and wolf” was the moment traders transformed - they would become revved up, exuberant risk takers when flying high or tentative, risk-averse creatures when cowering from their losses. Coates understood instinctively that these dispositions were driven by body chemistry - and then he proved it.

The Hour between Dog and Wolf expands on Coates’ own research to offer lessons from the entire exploding new field of the biology of risk. Risk concentrates the mind and body like nothing else, altering our physiology in ways that have profound and lasting effects. What’s more, biology shifts investors’ risk preferences across the business cycle and can precipitate great change in the marketplace.

Though Coates’ research concentrates on traders, his conclusions shed light on all types of high-pressure decision making, from the sports field to the battlefield. This book leaves us with a powerful insight: Handling risk in a “highly evolved” way isn’t a matter of mind over body; it’s a matter of mind and body working together. We all have it in us to be transformed from dog into wolf; the only question is whether we can understand the causes and the consequences.

©2012 John Coates (P)2012 Blackstone Audio, Inc.

Critic Reviews

“A vivid and brilliantly written narrative: by integrating his knowledge of neuroscience with his experience as a Wall Street trader, Coates pulls back the curtain on the physiological mechanisms that prepare some individuals to thrive and others to be devastated by confronting risk.” (Stephen W. Porges, director, BrainBody Center, Department of Psychiatry, University of Illinois at Chicago)
“This scintillating treatise...is a provocative and entertaining take on the irrational exuberance - and anxiety - of the modern economy.” ( Publishers Weekly)
“John Coates brings finely honed scientific insight to his insider’s look at the world of highwire high finance to produce a vivid depiction of the minds, brains, and bodies of economic movers and shakers living on the edge.” (Gabor Maté, MD, author of  When the Body Says No: The Cost of Hidden Stress)

More from the same

What members say

Average Customer Ratings

Overall

  • 4.5 out of 5 stars
  • 5 Stars
    65
  • 4 Stars
    27
  • 3 Stars
    13
  • 2 Stars
    5
  • 1 Stars
    3

Performance

  • 4.5 out of 5 stars
  • 5 Stars
    54
  • 4 Stars
    29
  • 3 Stars
    12
  • 2 Stars
    2
  • 1 Stars
    4

Story

  • 4.5 out of 5 stars
  • 5 Stars
    55
  • 4 Stars
    30
  • 3 Stars
    8
  • 2 Stars
    7
  • 1 Stars
    1
Sort by:
  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Amazing!

Hands down the best book I have ever read / listened to. Will continue to listen to it over and over again!!

2 of 2 people found this review helpful

  • Overall
    4 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    4 out of 5 stars

Eye-opening

The biology of decision making. John also illustrates the potential for science on the topic of decision making. Great listen

1 of 1 people found this review helpful

  • Overall
    4 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    4 out of 5 stars

pro and contra

Where does The Hour Between Dog and Wolf rank among all the audiobooks you’ve listened to so far?

It could have been more satisfactory.

What did you like best about this story?

The description of trading US bonds and the different styles of traders.

Was this a book you wanted to listen to all in one sitting?

No

Any additional comments?

The final chapter was incongruous and ill considered. He implies that castrated men would make better traders than those with the usual testosterone.

1 of 1 people found this review helpful

  • Overall
    3 out of 5 stars
  • Performance
    2 out of 5 stars
  • Story
    4 out of 5 stars

Interesting story, tedious reading

A complex story that somewhat cumbersomely flashes between relatable story and in-depth science. The reading is very dry, which takes away from an interesting storyline in the traders and adds to the tediousness of the science, which could otherwise be interesting.

  • Overall
    5 out of 5 stars
  • Performance
    1 out of 5 stars
  • Story
    5 out of 5 stars
  • JS
  • 06-29-17

Book=awesome, narrator=meh

The narrator pronounces the word "not" in a way that sounds like "naught"... a little pretentious all the while sounding like the narrator has no idea what the words means... going to avoid First Name First Name Last Name types in this instance...

Boom is so good in spite of that

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars

Life-changing information

This is like an owners manual for understanding your mind, body, and how you (as a whole) interact with your environment, situations and life in general. Essential, eye-opening read. If you only read 3 books this year, make sure this is one of them!