THE PSYCHOLOGY OF MONEY (BY MORGAN HOUSEL)

February 09, 2022 b investment banker , business , THE PSYCHOLOGY OF MONEY (BY MORGAN HOUSEL) 0 Comments

 Have you heard the story about ronald read the janitor that had eight million dollars in savings when he died in two thousand and fourteen yeah? You heard that right, janitor, eight million dollars and he didn't win the lottery or inherit the money either he just saved consistently throughout his life, while letting the wonders of compounding. Do it's thing. The moral is that your behavior with money is often times more important than how intelligent you are. Even if you don't have a diploma from hallway or work on wall street, you can become rich by just behaving in a sound way as smoking house, so puts it financial success. This is not a hard science. It's a soft skills. How you behave is more important than walked. You know, spend your next ten to fifteen minutes on this video and you might excel on this self skill of investing. This is a top five takeaways summary all the psychology of money by morgan housel- and this is the swedish investor, bringing you the best tips and tools for reaching financial freedom through stock market. Investing segway number one pay the price that said that you want a new nice watch. You go to the store to check out the offerings. You are really after something that will impress your friends and the lovely lady that you're dating you know, have a choice: either you pay for the watch or you steal it and run because you have done your cardio right. My guess is that you would choose option number one, no matter your physical capacity, you would take out your card and swipe that thing. Do the right thing. The point is that you know that having a new watch comes with a price of feet and it's the same with investing. It comes with a price too. Throughout the videos on this channel. There are some rest curran takeaways for high returns, one of them being a somewhat concentrated portfolio with peter lynch, perhaps being the exception. The concentrated portfolio brings with it a characteristic to your performance. Each will be at title. This is the price the fee for having high returns in the stock market over the long term. If you don't have the stomach to stay the course, when your network decreases by say a twenty percent during a single week as two of your major holdings report, quarterly earnings below what analysts expected, don't aim to maximize your returns because the higher the returns the higher this fees, typically is. Let's say you already ten years ago, could visualize netflix bright future? You invested a large portion of your network into stoke. Well, they wouldn't be quite a rich person. Today, however, them could you afford paying the price for this journey? Netflix has during this period.