I honestly don t get the hype for this book most of the
ideas are not articularly insightful nor original The most interesting ones came from are not articularly insightful nor original The most interesting ones came from Taleb ie tail risks role of luck risk Charlie Munger ie compounding savings and Benjamin Graham ie margin of safety While the advices are no doubt helpful but common sensical like don t keep of with the Joneses save invest in low cost index funds etc and "Written In A Easy " in a easy follow way albiet too LinkedIn esue for my taste this book leaves much to be desired and for my taste this book leaves much to be desired and s obvious I am not articuarly impressed by it Regardless a few interesting ideas below The hardest financial skill is getting the goalpost to stop moving When you see someone driving a nice care you don t think wow the guy drving that car is cool but rather wow if I had that car eople would think I m cool The first rule of compounding is never interrupt it unnecessarily When you spend money on things you will end up with the things and not the money Rich is current income but wealth is hidden spending money to show eople how much money you have is the fastest way to have less money Understand your own time horizon is key in the money s game Don t be The Harvest Murder persuaded by the actions and behaviors ofeople Tim and Tobias (Tim and the Hidden People Book A1) playing different games than you are ie short term traders being 100% rational driving up therice Pessimism is The Pool By the Whispering Trees (Tim and the Hidden People Book C1) persuasive Assuming that something ugly will stay ugly is an easy forecast to make because it doesn t reuire imagining the world changing This is a must read for every individual irrespective of age who have started investing This book isrimarily divided into. Timeless lessons on wealth greed and happiness doing well with money isn’t necessarily about what you know It’s about how you behave And behavior is hard to teach even to really smart eople How to manage money invest it and make business decisions are typically consid.
free download The Psychology of Money3 arts1 How the world of money works2 How we think about our own future and ideas of wealth3 How we should actually go about investing with the above knowledge If you ve read uite a bit on a topic a lot of what s talked about in a book usually becomes redictable An artist however can surprise you This unpredictability is the source of novelty Morgan is one such smooth writer who manages to surprise you no matter how much you ve read about such topics This book deals with ideas that are truly timeless It doesn t reach "IT JUST GIVES YOU A BUNCH " just gives you a bunch ideas to onder and think about That s what good books are supposed to be about i guess Such a short book with so much wisdom and generally good advice Highly recommended On a side note this book also made me realise that Hans Rosling s Factfulness has such great advice on investing We often get bogged down on what s happening in the short run and do not appreciate the Treasure Trail / The Crimson Phoenix / Model Murder (The Shadow, progress we ve made in the long run Progress happens too slowly to notice but setbacks happen too uickly to ignore And thus in life and investing optimism trumpsessimism in the long runuotes1 The highest form of wealth is the ability to wake up every morning and say I can do whatever I want today2 In investing you must identify the Vanity Bagh price of success volatility and loss amid the long backdrop of growth and be willing toay it3 Enough is not too little Enough is realising that the opposite an insatiable appetite for will ush you to the oint of regret4 Few things matter with money than understanding your own time horizon and not being Preaching to a Post-Everything World persuaded by. Ered to involve a lot of mathematical calculations where data and formulae tell us exactly what to do But in the real worldeople don’t make financial decisions on a spreadsheet They make them at the dinner table or in a meeting room where ersonal history your uniue vi. .
THAN YOU ARE5 OPTIMISM IS THE BEST BET FORyou are5 Optimism is the Best Bet For People Because bet for eople because world tends to get better for most Keys to inner space people most of the time Optimism is a belief that the odds of a good outcome are in your favour over time even when there will be setbacks along the way The simple idea that mosteople wake up in the morning trying to make things a #Little Better And Productive #better and Winner Takes All productive wake up looking to cause trouble is the foundation of optimism It s not complicated It s not guaranteed either It s just the most reasonable bet for mosteople most of the time6 Use money to gain control over your time because not having control of your time is such a Registers of Illuminated Villages powerful and universal drag on happiness The ability to do what you want when you want with who you want for as long as you want toays the highest dividend that exists in finance7 The first rule of compounding is to never interrupt it unnecessarily8 Nothing is as good or as bad as it seems The blog Ping-pong post that turned into a bookhttpwwwcollaborativefundcomblogTeh Hooi Ling s reviewhttpswwwbusinesstimescomsgwealCFA webinarhttpsannualcfainstituteorgspeakhttpsblogscfainstituteorginvestThe hardest financial skill is getting the goalpost to stop moving Lesson from Rajat Gupta of McKhttpswwwftcomcontentbb5fb31c 4Freedom with your own time is the highest dividend moneyays The ability to do whatever you desire with your time The ability to do WHAT you want WHEN you want with WHO you want for as long as you want is Caleb the Overcomer priceless That s what having money is good for Money is a concentrated form of energ. Ew of the world egoride marketing and odd incentives are scrambled together In the Firmin psychology of money the author shares 19 short stories exploring the strange wayseople think about money and teaches you how to make better sense of one of life’s most important matter.