In the psychology of money, the author 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 matters.
Timeless lessons on wealth, greed, and happiness 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. How to manage money, invest it, and make business decisions are typically considered to involve a lot of mathematical calculations, where data and formulae 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 unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
Here are my takeaway points from the book. This thread is updated from time to time.
Updated: 1 Jan 2022
- Your personal experiences with money makes up maybe 0.00000001% of what's happened in the world, but maybe 80% of how you think the world works.
Updated: 16 Feb 2022
- Beware taking financial cues from people playing a different game than you are.