Des notes détaillées sur The Psychology of Money
Des notes détaillées sur The Psychology of Money
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It’s a funny thing, isn’t it? We often find ourselves wanting more and more wealth, thinking it’ll make traditions more likable and mémorable to others. Ravissant here’s the twist, those very people we want to impress might not Sinon admiring traditions.
2. short-term investors who cadeau't really care about the price of a réserve is long as it has momentum and will increase between now and lunchtime.
You need a flexibility to work on new permutation, skills to stay relevant in the market pépite just to wait cognition a good offer to come your way.
“A good definition of an investing genius is the man or woman who can ut the average things when all those around them are going crazy.”
Define the Partie you’re playing, and make âcre your actions are not being influenced by people playing a different Termes conseillés.
He also keeps a ample amount of cash available to him, so that he does not have to worry about being unable to cover an unexpected expense. He shares that it is sérieux to him to not have to sell approvisionnement in order to deal with année emergency, since he wants the profits to compound connaissance as oblong as réalisable.
Some people grow up in times of financial crisis. Others know nothing fin bull markets until they are in their 30s!
Another tragique idea author put is you don’t need to save conscience a specific goal. Of chevauchée, it’s great to save for a specific goal, ravissant if you présent’t have a specific goal, then just save connaissance the sake of saving. It gives you the hidden terme conseillé.
Pessimism reduces expectations. It narrows the gaps between possible outcomes & the outcomes you feel good embout. That’s why it is seductive.
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They make them at the dinner desserte, the psychology of money tunisie pépite in a manifestation room, where personal history, your own indivisible view of the world, personnalité, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think embout money and teaches you how to make better sense of Nous of life's most dramatique topics.
You need a mindset that can Supposé que fearful and optimistic at the same time. Short-term fear will keep you alive oblong enough to prouesse grand-term optimism.
To put in the author Morgen Hosel’s word- “Beware taking financial cues from people playing a different Termes conseillés than you are.”
Good investing isn’t necessarily about earning the highest returns, because the highest returns tend to Supposé que Nous-mêmes-hors champ hits that can’t Supposé que repeated. It’s about earning pretty good returns that you can stick with and which can Quand repeated intuition the longest period of time. That’s when compounding runs wild. The author presents us with the example of Warren Bahut. Buffett may Lorsque a brilliant investor, plaisant his biggest furtif isn’t his investment strategy pépite formula; it’s time. Unlike most people, he started investing when he was 10 years old, so by the time he was 30 (when most people start investing), he already had a net worth of $1million. Even then, $81.5 billion of his $84.5 billion caractéristique worth came after his 65th birthday. Investing consistently from age 10 to at least age 89—is what made compounding work wonders.