Your personal experiences with money make up maybe 0.00000001% of what’s happened in the world, but maybe 80% of how you think the world works. So equally smart people can disagree about how and why recessions happen, how you should invest your money, what you should prioritize, how much risk you should take, and so on.
Riad Ghellabidézett2 évvel ezelőtt
We need to believe we live in a predictable, controllable world, so we turn to authoritative-sounding people who promise to satisfy that need.”
Satisfying that need is a great way to put it. Wanting to believe we are in control is an emotional itch that needs to be scratched, rather than an analytical problem to be calculated and solved. The illusion of control is more persuasive than the reality of uncertainty. So we cling to stories about outcomes being in our control.
Soliloquios Literariosidézett2 évvel ezelőtt
1. The more you want something to be true, the more likely you are to believe a story that overestimates the odds of it being true
Shin Loon Leeidézett3 évvel ezelőtt
As for the top one percent, the really well-to-do and the rich, whom we might classify very roughly indeed as the $16,000-and-over group, their share of the total national income, after taxes, had come down by 1945 from 13 percent to 7 percent
Shin Loon Leeidézett3 évvel ezelőtt
They are surely wrong: the outcome of a start-up depends as much on the achievements of its competitors and on changes in the market as on its own efforts.
Marianaidézett4 évvel ezelőtt
doing well with money has a little to do with how smart you are and a lot to do with how you behave
Hyeonsoo Shinidézetttegnap
History never repeats itself; man always does.”
Hyeonsoo Shinidézetttegnap
As investor Michael Batnick says, “some lessons have to be experienced before they can be understood.” We are all victims, in different ways, to that truth.
Hyeonsoo Shinidézetttegnap
But I don’t have the emotional scars of those who actually experienced i
Hyeonsoo Shinidézetttegnap
It’s because we’ve had different lives shaped by different and equally persuasive experiences