Financial guru James Montier on how to overcome bad investing habits

Wall Street
Wall Street

Jobless claims were down last week. The Dow is above 10,000 points. Wall Street bonuses are bigger than ever. It seems like we're finally waking up from one of the worst recessions in recent memory.

But don't get too optimistic, says James Montier, author of "The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy" (Wiley). That's what got us in trouble the last time. Montier, who is a member of the asset allocation team at GMO, London, and a leading authority on behavioral investing, takes time to tell us how being a contrarian can be healthy for our bank accounts.