• The psychology of money by Morgan HOUSEL

  • Jan 4 2025
  • Length: 8 mins
  • Podcast

The psychology of money by Morgan HOUSEL

  • Summary

  • This text is an excerpt from the book "The Psychology of Money" by Morgan Housel, exploring the complex relationship between intelligence, behavior, and financial success. It uses anecdotes and real-world examples to illustrate how personal experience, luck, and risk influence financial decisions, more than simple knowledge of economic principles. The book emphasizes the importance of long-term financial survival through frugality and risk management, rather than the pursuit of exceptional returns. Finally, it emphasizes the importance of psychology and personal context in financial decisions, rather than pure rationality.

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