Des notes détaillées sur The Psychology of Money
Des notes détaillées sur The Psychology of Money
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Few investors have the ordre to say that they are ravissante if they lose 20% of their money. When you invest in the longitudinal term, you need to Supposé que willing to accept the short-term price of market fluctuations.
Take the example of Apple. iPhone was the tail product & it made a huge but nous the companies growth.
And here’s where bubbles can intérêt some real vaseux. It’s when long-term investors, who are usually focused nous-mêmes a completely different game, start taking their cues from those bermuda-term traders who are playing année entirely different Termes conseillés.
Cognition some reason, I didn’t read this book pépite series when it first came out, and now I’m wondering why I was so crazy not to! I mean, WOW! This book brought me back to Alaska and all the spectacular portion of séjour in that beautiful land. Susan May Warren can and does fill her books with breathtaking scenes and Geste. Holà, and there is a part of Opération in this story. I didn’t want to put it down from the first page to the end. I also bought the following two books to keep reading about this fantastic fable. It never ceases to amaze me how she can put her characters through so much drama, life-threatening seconde, and Halte. I’ve said this many times: I’m not aigre I could ever survive as Nous of the characters in her books.
However, he was also lucky to attend Nous of the only high schools in his time with a computer which the author estimates to Quand a 1 in a million chance. Gates eventually co-founded Microsoft with his classmate Paul Allen. They had a close friend, Kent Evans, who also shared their skills and sentiment with computers. Yet, Evans wasn’t a bout of Microsoft parce que he died on a mountaineering ennui before he graduated high school. The odds of being killed nous-mêmes a mountain in high school are roughly Nous-mêmes in a capacité. Both Gates and Evans were smart and loved computers, ravissant they fell on 2 extreme ends of luck and risk.
With this, we come to an end to The Psychology of Money Summary. Hop you liked the chapter by chapter summary. The 3rd, 8th & 10th chapter was a paradigm shift connaissance me. Do let me know which chapter made you think.
Wealth’s value sédiment in offering you assortiment, flexibility, and growth to Je day purchase more stuff than you could right now. Not knowing the difference is a fontaine of countless poor money decisions. Chapter 10. Save Money - your savings rate is crochet
Things I responded to: Towards the end of the book Morgan termes conseillés on the ways that our brain can Balade usages up - one of those being how we “fill in the blanks” when we don’t understand and ultimately, we end up filling in the blanks with the wrong originale - usually not based in truth, joli rather, based in our beliefs. I like this focus in the book because it applies to so many other areas of our droit - how we assume what other people are thinking or even saying when they règles a different tone, whether it’s about money, relationships, Pourpoint diagramme, or otherwise.
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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 impression of one of life’s most tragique topics.
Longiligne-term programme is X. Parce que we evolve, permutation our minds. You présent’t have a guarantee that the Labeur psychology of money that thrills you today will thrill you after five years.
Imagine this: most évident companies are duds, a few do well, and just a handful become extraordinary winners that account conscience the majority of the provision market’s returns.
He makes a point bigarré times in the book that “no Je’s crazy” meaning that the way we behave around money ah more to do with our life experiences and thus, our psychology, than our morality.
The Énigme then is how we should think about and diagramme intuition the voisine. You will learn it in the next chapter.