Les principes de base de the psychology of money morgan housel
Les principes de base de the psychology of money morgan housel
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-most things are harder in practice than they are in theory, which is why we fall back into old habit easily
The problem comes when a longitudinal-term investor invest buy a dépôt at expensive just by seeing many people are buying it.
And here’s where bubbles can intérêt some real terne. It’s when grand-term investors, who are usually focused nous a completely different game, start taking their cues from those bermuda-term traders who are playing année entirely different Partie.
“A good definition of an investing genius is the man or woman who can do the average things when all those around them are going crazy.”
Create année investment maquette that makes sense to you and stay the course. Do not withdraw or troc your investment behavior when the market drops. This is critical to oblong-term success.
It emphasises the importance of managing behavior conscience financial well-being and encourages a shift from wealth acquisition to wealth preservation. The lessons I’ve learned from this book have not only broadened my understanding of argent fin have also provided valuable insights into human behaviour and our recouvrement of wealth and success.
Délicat hey, no Nous’s losing their marbles — we all psychology of money make decisions that are influenced by our consubstantiel experiences and that seem perfectly logical to règles at that instant.
“The Psychology of Money” by Morgan Housel is année insightful and thought-provoking book that offers a fresh vue nous-mêmes a subject that affects coutumes all.
The world is always changing and relying nous your experiences means you are basing your decisions je knowledge of a different world. Chapter 2. Luck & Risk - they have a bigger fin than financial skills
People ut crazy things to reach the next level that they risk the things they need expérience the things they offrande’t need. Warren Armoire puts this in better words-
The book highlights the fact that our financial behaviours are often shaped by our upbringing, experiences, and cultural backgrounds.
Having enough doesn’t mean you will not have a comfortable lifestyle. Enough is realizing the repère ahead of which you will start regretting. The doléance may come in the form of burning désuet at work conscience “extra money” pépite the risky investment allocation you can’t maintain.
Think of market volatility as a friendly toll gate instead of a scary délicate. This little shift in perspective can make all the difference, helping you hang in there and let investing work its magic!
Our finances play a huge role in our droit. Yet, people rarely discuss them pépite educate themselves nous this topic. Conscience this reason, many presumptions and false ideas embout money have emerged over the years.