The Psychology of Money: Timeless lessons on wealth, greed, and happiness

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54,159Total Reviews

Personal Finance

B

Company Review Grade:

Morgan Housel

38 Total Products

The Psychology of Money: Timeless lessons on wealth, greed, and happiness

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Sold by Morgan Housel

B

Fakespot review grade

B

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Pros & Cons

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Pros

This book is packed with wisdom and insight for pragmatic financial planning. We are very low-income overseas missionaries serving in the third world.

Housel argues that luck plays a much bigger role in our financial outcomes than we often realize. Recognizing this can help us avoid the trap of overconfidence and develop more realistic expectations. Don't be greedy. Risk management is a probability ... Read More

The psychology of money takes a holistic approach to the topic of money. One of the key themes of the book is the idea that money is more about behavior than it is about numbers. The author describes how decisions about money and finance are not based... Read More

Cons

The author peddles obvious anecdotal strategies supported by obscure examples. It has good ideas, but at a certain point it just keeps repeating them. If you're like me and want succinct points and are looking for actual psychology, this isn't it.

Would not recommend, underwhelming, save your money. Worst part about the books is that it's trying to dissuade you from achieving great things. Omits underrepresented groups of people, and for those reasons i was disappointed.

The description of the book is posed to be about the real-life individual and the psychology behind their financial decisions. The only advice he gives is to “ save and dollar cost average into a low cost index fund” which you could of gotten that inf... Read More

It is what you would expect a 10-th grader would submit as a class report, and than pad it 10x into a book. It repeats the same 4 chapters then jumps to chapter 11 for one page, number 119 then off to chapter 12 till the end.

What shocked me the most is how conservative/risk averse the writer is in terms of how he manages his assets. It’s just a compilation of things that other people said and random studies that don’t have much to do with finance.

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Highlights

The AI used to provide these results are constantly improving. These results might change.

Quality

Extremely well written book that is helpful for anyone interested in investing.

It’s very well written and at times even made me laugh out loud.

What worked yesterday will not, cannot work today or tomorrow because it is chronically changing, growing up, adjusting.

Invest early and often, let compound interest work for you, consider a margin of safety, don't follow the crowd - they may have... Read More

Price

~ stock market and investing is a baby-new-world.

This activity confounds the classical value analysis of a stock’s price being the discounted stream of dividends.

So invest in broad, unweighted mutual funds.

For example, speculative options traders don’t care what a stock price is, only that it goes up soon, in a few moments or days.

Competitiveness

• the growth of the economy and stock markets is driven by a few wildly successful companies.

He emphasizes the importance of understanding our own biases and embracing simplicity in financial planning, offering practical... Read More

• there are many different kinds of investors and some have conflicting goals.

• most companies go out of business.

Overview

How are reviewers describing this item?
great, financial and different.

Our engine has profiled the reviewer patterns and has determined that there is minimal deception involved.

Our engine has determined that the review content quality is high and informative.

Our engine has detected that Amazon has altered, modified or removed reviews from this listing. We approximate total reviews altered up to 9777.

Our engine has discovered that over 80% high quality reviews are present.

This product had a total of 54,159 reviews as of our last analysis date on Aug 21 2024.