Author: admin

Today i finished reading The Psychology of Money by Morgan Housel

Trully a great book about money and personal finance

These are quotes that i found interesting

• Financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know.
• The accidental impact of actions outside of your control can be more consequential than the ones you consciously take.
• But realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself.
• Happiness, as it’s said, is just results minus expectations.
• “Enough” is realizing that the opposite — an insatiable appetite for more — will push you to the point of regret.
• Planning is important, but the most important part of every plan is to plan on the plan not going according to plan.
• Room for error — often called margin of safety — is one of the most underappreciated forces in finance. It comes in many forms: A frugal budget, flexible thinking, and a loose timeline.
• A good definition of an investing genius is the man or woman who can do the average thing when all those around them are going crazy.
• “It’s not whether you’re right or wrong that’s important,” George Soros once said, “but how much money you make when you’re right and how much you lose when you’re wrong.”
• Things that have never happened before happen all the time.
• “The best way to achieve felicity is to aim low,” says Charlie Munger.
• Controlling your time is the highest dividend money pays.