The Psychology of Money is the best personal finance book ever. The book explains that money is not about being smart, but about how you behave.It shows that habits, emotions, and patience matter more than math or IQ when it comes to money.
Here is a company that almost brought the whole financial system down (paid $550M in fines for misleading clients on CDOs) but all people remember is a guy who ostensibly passed on information (but never profited) from a board meeting..
Brilliant: "The people who build wealth aren’t the smartest, they’re the ones who accept that volatility is the price of admission."
"There is always a reason to sell" - Say that to someone whose investing life was from 1930 to 1950 or 1965-82..
Oh, the Goldman Insider trading scandal!
Here is a company that almost brought the whole financial system down (paid $550M in fines for misleading clients on CDOs) but all people remember is a guy who ostensibly passed on information (but never profited) from a board meeting..
Oh, the ironies of life!
Well... Sometimes life is not fair. Unfortunately. :)
True! And, nowhere more than business what is once an institution of repute goes by the wayside (think GE and Jack Welch)
Are there any other books you are reviewing that deal with money and investments?
I'm reading over 100 books per year. Will publish a list shortly!
Amazing! Let me know which books are your top 3 for the year!
Here’s some inspiration already: https://www.compoundingquality.net/p/100-great-books-for-life-and-investing