The Psychology of Money

What it is about

Morgan Housel uses short stories to argue that financial outcomes are shaped as much by behavior, time horizon, luck, risk, expectations, and personal history as by technical knowledge. Compounding rewards endurance; room for error protects endurance; and a definition of ‘enough’ can prevent success from becoming self-destruction. It stays near me because the feelings and patterns that become dangerous when I call them the whole truth should not become an idea I can praise from a safe distance.

Why I keep it

Money as behaviour. The best money book because it is not about money.

Key ideas

Beside it on the shelf · Psychology & Therapy