Morgan Housel

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Timeless lessons on wealth, greed, and happiness

The Psychology of Money

Jocelyn Poh

Mitul Shah

agi ☻

“One, financial outcomes are driven by luck, independent of intelligence and effort. That’s true to some extent, and this book will discuss it in further detail. Or, two (and I think more common), that financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know.”

Kyler Phillips

The world is filled with people who look modest but are actually wealthy and people who look rich who live at the razor’s edge of insolvency.

A genius who loses control of their emotions can be a financial disaster.

Success is a lousy teacher. It seduces smart people into thinking they can’t lose.

Heller responds, “Yes, but I have something he will never have … enough.”

The Psychology of Money quotes

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