By Morgan Housel
Stay invested in the market for the long run, especially with low expense index funds.
No One is Crazy-- Your Personal Experience with money makes up maybe 0.00001% of what's happened in the world, but maybe 80% of how you think the world works
Nothing is as good, or as bad as it seems.
Rich people do crazy things with their money. That's ego.
Compounding growth-- $81.5 billion of Warren Buffett's worth came after if 65th birthday. He had $11.9 million on his 60th birthday. If he had retried when he was 60, he'd just be some guy. The best thing he ever did was to stay invested for years. His skill is investing. His secret was time.
Getting Wealthy is different than staying wealthy. Good investing is about consistently not screwing up.
You can be wrong half the time and still make a fortune. They secret is to know how to fail safely.
Controlling your time is the highest dividend that money pays
No one is as impressed with your possessions as much as your are
Wealth is what you don't see. Spending money to show people how much money you have is the fastest way to have less money.
Save Money-- The only factor you can control generates one of the only two things that matter.
Being mostly reasonable works better than being coldly rational
The most important part of every plan is planning on your plan not going according to plan. If you do so, any forecasts are not needed.
Long Term Planning is harder than it seams because people's goals and desires change over time.
Every thing has a price. Not all prices are visible.
Don't take financial queues from people playing a different game than you.
Optimism sounds like a sales pitch. Pessimism sounds like someone trying to help you.
Stories are more powerful than statistics. We will believe an appealing fiction.
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