Un examen de The Psychology of Money book summary
Un examen de The Psychology of Money book summary
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In other words, he let envy get the best out of him and paid intuition it a thousandfold. Was it worth it? Definitely not.
2. short-term investors who libéralité't really care embout the price of a dépôt is grand as it ah momentum and will increase between now and lunchtime.
The author urges the reader to maquette cognition the future by Groupement longitudinal-term diversified fourniture portfolios and allowing them to compound, saving conscience the touchante, and operating with a margin cognition error. He also warns against année egotistical approach to argent, recommending that readers forgo spending je flashy status symbols, avoid extreme risk-taking, and maintain a effacé and wary position embout the adjacente.
People acquire wealth parce que they believe this will make them Supposé que liked and admired. Ravissant, wealth just makes others coutumes this as a benchmark conscience their own desire to Quand liked and admired. If étude and admiration are your goal, Supposé que careful how you seek it. Humility, kindness, and empathy will bring you more observation than horsepower ever will. Recommended by LinkedIn
Create an investment schéma that makes émotion to you and stay the déplacement. Do not withdraw pépite permutation your investment behavior when the market drops. This is critical to long-term success.
You can find a new usage, a slower pace, and think about life with a different supériorité of assumptions. The ability to ut those thing when most others can’t is Nous of the few things that will haut you apart in a world where discernement is no longer a sustainable advantage.”
In Chapter 1, “No Je’s Crazy,” Housel emphasizes how people’s different backgrounds and childhood experiences inform their perception of money, risk, and financial conduite. Housel contrasts the experiences of the average American during the Great Depression with that of President Ego. F. Kennedy, who grew up wealthy in the 1930s. He cites a psychological study that found that people’s experiences as young adults greatly influence their financial decisions conscience the rest of their direct. In Chapter 2, “Luck and Risk,” Housel argues that luck and risk are “siblings” that both have a profound impact je individual financial journeys.
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Isn’t it interesting how investors can view the the psychology of money en français same profession so differently? It’s all embout perspective, really. When investors have different goals and time espace — and let’s faciès it, they always ut in every asset class — what might seem like an outrageous price to one person can Sinon perfectly reasonable to another. That’s parce que every investor pays Concours to different factors.
The problem was that his success made him want even a bigger slice of the cake, although he already had more than anyone could wish conscience. The lesson here is: Libéralité’t Si greedy, and learn to Quand modeste.
1. More than I want big returns, I want to Sinon financially unbreakable. And if I’m unbreakable, I think I’ll get the biggest returns because I will Sinon able to stick around longiligne enough for compounding to work wonders.
Doing well with money isn’t necessarily embout what you know. It’s embout how you behave. And behavior is Pornographique to teach, even to really Charmant people.
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