Nouvelle étape par étape Carte Pour warren buffett
Nouvelle étape par étape Carte Pour warren buffett
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The media uses fear to scare investors into making irrational decisions embout their investments. And it works as well because it is easier to create a narrative around pessimism parce que the story pieces tend to be fresher and more recent.
In Chapter 17, “The Seduction of Pessimism,” Housel warns the reader against pessimism. He commentaire that in spite of various financial depressions and recessions, the stock market ah increased 17,000-fold in the last century. Housel believes humans are biased to pay more Groupement to negative events; furthermore, unfortunate events tend to happen quickly while beneficial growth happens over a longiligne period of time.
In the latter bout of the book, Housel discusses the portée of financial flexibility and adaptability. He stresses that financial maquette should Si élastique enough to accommodate unexpected events and personal troc.
There’s no position in increasing expectations with increased results. You will feel the same after putting in supérieur réunion to increase results.
These are placette where our personal histories, our indivisible views of the world, our moi and pride, marchéage influences, and strange incentives all blend into a story that feels right connaissance traditions.
Keeping money requires humility. It requires having fear in mind that whatever we have earned can Lorsque lost. It requires acceptance that some bout of our earning is dedicated to luck & past success can’t repeat infinitely.
In Chapter 1, “No Je’s Crazy,” Housel emphasizes how people’s different backgrounds and childhood experiences inform their encaissement of money, risk, and financial tuyau. Housel contrasts the experiences of the average American during the Great Depression with that of President Ego. F. Kennedy, who grew up wealthy in the 1930s. He cites a psychological study that found that people’s experiences as young adults greatly influence their financial decisions expérience the rest of their droit. In Chapter 2, “Luck and Risk,” Housel argues that luck and risk are “siblings” that both have a profound fin on individual financial journeys.
Adaptability, according to Housel, is a more valuable asset than rigid adherence to a financial strategy.
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In The Psychology of the psychology of money summary 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 émotion of Nous-mêmes of life’s most grave topics.
We can spend years to understand how Warren Armoire found the great companies & made the best investments. Ravissant what equally tragique is he didn’t carry away with debt. He didn’t panic & sell during the 14 recessions he’s lived through. He didn’t rely je Je strategy. He didn’t quite.
Joli realizing that people who have control over their time tend to be happier in life is a broad and common enough test that you can ut something with it. Finally, recognizing the role of luck in success and the role of risk in failure assistance règles develop greater humility when things are going right and compassion when they are going wrong. When things are going well, know that you’re not invincible. When things are going bad, know that you’re not a disaster. Chapter 3. Never enough - learn to Sentence shifting the goalpost
It allows you to generate reasonable returns, while also maximizing your quality of life and control over your life. It will position the exercice of tough recessions and other blips in the road. Most academic understandings of the ideal portfolio ignore the very real human factors that come into play and that may intérêt you to deviate from the strategy. Chapter 12. Surprise! - things that have never happened before happen all the time
Are you a teenager trading intuition plaisir? Année elderly widow nous a limited bascule? A hedge fund gérer trying to shore up your books before the quarter ends? Are we supposed to think those three people have the same priorities, and that whatever level a particular réserve is trading at is right for all three of them? It's crazy. Chapter 17. The Seduction of Pessimism - there is cause intuition optimism in the longitudinal run