"The Psychology of Money: Timeless lessons on wealth, greed, and happiness" is a thought-provoking book that provides valuable insights into the psychology behind personal finance. The author, Morgan Housel, presents a refreshing perspective on money and how it intersects with our lives, both practically and emotionally.
What stood out most to me was the engaging writing style, which made complex concepts easy to understand. Housel uses real-world examples to illustrate his points, making the book relatable and relevant. Additionally, the author's focus on the behavioral aspect of personal finance, rather than just the technical aspect, is insightful and refreshing.
However, if you are like me you may have expected some sort of actionable advice on managing money, this was not the case. While it provides a valuable understanding of the psychology behind money, it does not offer specific tips or strategies for managing one's finances.
I read this book on the Amazon Kindle Paperwhite, and it was a very enjoyable and seamless read on the device, showing that it was well adapted to the e-reader.
Overall, "The Psychology of Money" would be best suited for readers who are interested in understanding the intersection between money and psychology. It would be particularly useful for those who may struggle with managing their finances or those who are seeking a new perspective on personal finance. The book is a great read for those who want to gain a deeper understanding of the emotional and psychological drivers behind our financial decisions. This is a staple in a collection for building a better financial mindset.
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
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I love the author's holistic approach to how we think about money and the decisions we make based on others' experiences and how so many factors come into play regarding expected results. Great lessons and eye-opening stories!I keep loving the convenience of using the kindle app, I can read the book anywhere I am, even if I didn't plan on it.
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MCube_slade
world is actually big and we are just a blip in it
Reviewed in India 🇮🇳 on September 29, 2020Verified Purchase
MCube_slade
Reviewed in India 🇮🇳 on September 29, 2020
First level of investor is the one who knows money can be made in the mkt, but doesn't know how and starts to trade without any knowledge.
Second level investor have made profit or loss on his capital and starts to find out where did he has gone wrong and starts learning about some basic concepts such as PE ratio.
Third level of investor starts finding value in whatever the scrip he has been following and starts finding justification that it is costly or cheap and buy or sell them.
Fourth level investor follows and checks if the price have gone up or not very often and loses faith if it doesn't go up after he bought it, and if price doesn't go up he sells it and looks for another one.in a short span of months. Again goes back to drawing board and finds what went wrong.
Then come the whole talk of buffetology and starts to find companies like that and invest in them if he felt that it was cheap.
But everyone forgets that buffet is buffet because of his principles and patience which helped him in compounding for very long time such as 70-80 years which very few do it. That's when actually psychology matters and thats what Morgan tries to tell us in this book that more that analysis of the scrip, conviction that you calculated and the patience to hold it at least for several decades remains intact only then the wealth would be created or else you would be just a person among a crowd doing nothing but ordinary things in life. And explains that the world is actually big and we are just a blip in it. It gives us all a great humility and convinces us to be humble and show gratitude to others.
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Vikrama D.
Fantabulous
Reviewed in India 🇮🇳 on September 21, 2020Verified Purchase
Sandeep Bhasin
Must read for young investors
Reviewed in India 🇮🇳 on September 20, 2020Verified Purchase
L. Ryan
Written just for men!
Reviewed in the United Kingdom 🇬🇧 on December 9, 2020Verified Purchase
Ayachi
I wish if I have read this book 20 years ago!!
Reviewed in the United Kingdom 🇬🇧 on December 11, 2020Verified Purchase
