The Behavior Gap

Carl Richards coined the term 'behavior gap' to describe the difference between investment returns and investor returns — the gap created by buying high and selling low, chasing performance, and making emotional decisions. As a Certified Financial Planner and New York Times sketch artist, Richards uses simple napkin sketches and clear prose to explain why smart people make dumb financial decisions.

The book covers the psychology behind financial mistakes and provides practical strategies for closing the gap between what the market gives and what investors actually get. Richards' sketches — simple drawings that capture complex financial truths — have become iconic in the personal finance world and make abstract concepts immediately tangible.