Morgan Housel Quotes


 
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Best 58 The Psychology of Money Quotes by Morgan Housel – Page 1 of 2

The Psychology of Money Quotes

“A barbelled personality—optimistic about the future, but paranoid about what will prevent you from getting to the future—is vital.”

The Psychology of Money

“A good rule of thumb for a lot of things in life is that everything that can break will eventually break. So if many things rely on one thing working, and that thing breaks, you are counting the days to catastrophe. That’s a single point of failure.”

The Psychology of Money

“Aligning money towards a life that lets you do what you want, when you want, with who you want, where you want, for as long as you want, has incredible return.”

The Psychology of Money

“An underpinning of psychology is that people are poor forecasters of their future selves.”

The Psychology of Money

“Beware taking financial cues from people playing a different game than you are.”

The Psychology of Money

“Bubbles form when the momentum of short-term returns attracts enough money that the makeup of investors shifts from mostly long term to mostly short term.”

The Psychology of Money

“Building wealth has little to do with your income or investment returns, and lots to do with your savings rate.”

The Psychology of Money

“Control over doing what you want, when you want to, with the people you want to, is the broadest lifestyle variable that makes people happy.”

The Psychology of Money

“Define the cost of success and be ready to pay for it. Because nothing worthwhile is free.”

The Psychology of Money

“Enough is not too little … Enough is realizing that the opposite — an insatiable appetite for more — will push you to the point of regret.”

The Psychology of Money

“Everything has a price, but not all prices appear on labels.”

The Psychology of Money

“Getting money requires taking risks, being optimistic, and putting yourself out there. But keeping money requires the opposite of taking risk.

It requires humility, and fear that what you’ve made can be taken away from you just as fast. It requires frugality and an acceptance that at least some of what you’ve made is attributable to luck, so past success can’t be relied upon to repeat indefinitely.”

The Psychology of Money

“Good investing is not necessarily about making good decisions. It’s about consistently not screwing up.”

The Psychology of Money

“Having more control over your time and options is becoming one of the most valuable currencies in the world.”

The Psychology of Money

“History is mostly the study of surprising events. But it is often used by investors and economists as an unassailable guide to the future.

Do you see the irony?

Do you see the problem?”

The Psychology of Money

“History is the study of change, ironically used as a map of the future.”

The Psychology of Money

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“Show me a loser who is concerned about doing well.”


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“Humility, kindness, and empathy will bring you more respect than horsepower ever will.”

The Psychology of Money

“If something compounds—if a little growth serves as the fuel for future growth—a small starting base can lead to results so extraordinary they seem to defy logic. It can be so logic-defying that you underestimate what’s possible, where growth comes from, and what it can lead to.”

The Psychology of Money

“If you have flexibility you can wait for good opportunities, both in your career and for your investments.”

The Psychology of Money

“Independence, at any income level, is driven by your savings rate.”

The Psychology of Money

“It’s hard to grasp that other investors have different goals than we do, because an anchor of psychology is not realizing that rational people can see the world through a different lens than your own.”

The Psychology of Money

“Learning to be happy with less money creates a gap between what you have and what you want.”

The Psychology of Money

“Life isn’t any fun without a sense of enough. Happiness, as it’s said, is just results minus expectations.”

The Psychology of Money

“Long-term planning is harder than it seems because people’s goals and desires change over time.”

The Psychology of Money

“Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort.”

The Psychology of Money

“Maintaining a lifestyle below what you can afford is avoiding the psychological treadmill of keeping up with the Joneses.”

The Psychology of Money

“Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.”

The Psychology of Money

“Most things are harder in practice than they are in theory.”

The Psychology of Money

“No one is impressed with your possessions as much as you are.”

The Psychology of Money

“Optimism is a belief that the odds of a good outcome are in your favor over time, even when there will be setbacks along the way.”

The Psychology of Money

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“Before you start trying to pick individual stocks and/or fund managers ask yourself this simple question: 'Am I Warren Buffett?'

If the answer is 'no', keep your feet firmly on the ground with indexing.”


More quotes by J. L. Collins

 
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