Ep11 - "Psychology of Money" by Morgan Housel (p. 2020), w/ guest Eric Landblom (Ret. Major, USMC)
The #BLUFFbooks Podcast - Hosted by Ian Gates (20240214)
#BLUFFbooks 📚 — “The Psychology of Money” by Morgan Housel (p. 2020) 💡Big Ideas Below: ⬇️
Subtitle: “Timeless Lessons on Wealth, Greed, & Happiness”
💡1. We’re Not Robots (Does your investing strategy/worldview take human feelings into account? Financial PTSD is real)
💡2. Fortune is Fickle (You can do everything right & still fail — build margin of error into your plans).
💡3. Comparison is the Thief of Joy (stop moving the goalposts when it comes to your lifestyle; Don’t gamble what you have & need just to appease your ego).
💡4. The Tails Wagging History (statistical outliers drive change. About 7 companies in S&P 500 drive most ROI. Kaizen = tiny marginal improvements that add up over time)
💡5. Tyrannizing Your Current &/or Future Self (balancing immediate & delayed gratification. Controlling your time is the greatest freedom & pays the highest life satisfaction ROI).
#BLUFFbooks 📚 — “The Psychology of Money” by Morgan Housel (p. 2020) 💡Big Ideas Below: ⬇️
Subtitle: “Timeless Lessons on Wealth, Greed, & Happiness”
💡1. We’re Not Robots (Does your investing strategy/worldview take human feelings into account? Financial PTSD is real)
💡2. Fortune is Fickle (You can do everything right & still fail — build margin of error into your plans).
💡3. Comparison is the Thief of Joy (stop moving the goalposts when it comes to your lifestyle; Don’t gamble what you have & need just to appease your ego).
💡4. The Tails Wagging History (statistical outliers drive change. About 7 companies in S&P 500 drive most ROI. Kaizen = tiny marginal improvements that add up over time)
💡5. Tyrannizing Your Current &/or Future Self (balancing immediate & delayed gratification. Controlling your time is the greatest freedom & pays the highest life satisfaction ROI).
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