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.