THE PSYCHOLOGY OF MONEY (HOW TO BEAT THE HEDGE FUNDS)
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- Опубліковано 8 вер 2024
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Complete review of this amazing book, The Psychology of Money.
GET THE BOOK HERE: amzn.to/3En8f2q
Investing…where else in life can a complete idiot outperform the most intelligent and well-funded people in the world.
I can’t think of any other domain or profession where this is true.
Just look at the performance of the world’s best hedge funds.
These people are well-funded, they employ quants, teams of PhD’s, from mathematicians to physicists,
They spend endless sums of money on the best data,
Yet, my Uncle Stan, who likes to eat Sloppy Joes, can beat them senseless.
From fourminutebooks . com:
"Our finances play a huge role in our lives. Yet, people rarely discuss them or educate themselves on this topic. For this reason, many presumptions and false ideas about money have emerged over the years. People think having money is a result of luck, or that rich people are all inheritors, or, worse, that wealth belongs only to those who disrupt - or even exploit - the world.
All of this is wrong. Money is a universal asset circulating in the world. And you too can become financially independent, if you change your current mindset and choose to adopt a few wealth-growing practices. At first, you’ll have to acknowledge your financial situation. Biased financial decisions are what stand in the way between your current life and the life you desire.
Seeking status, envy, and other emotions controlling you all play a significant role when it comes to your financial decisions. The Psychology of Money by Morgan Housel will teach you what you can do, starting today, to improve your finances.
Here are my three favorite lessons from the book:
1.) Being greedy can turn out to be the biggest financial mistake you’ll ever make.
2.) Envy has no place in the money market, as it can blur your thinking.
3.) Our early experiences with money determine our financial decisions later on.
The content on this channel is for entertainment purposes only and should not be taken as financial advice. Please do your own research and consult with a financial professional before making any financial decisions. The creator of this channel does not assume any responsibility for any errors or omissions in the content.
There is many paths to wealth- the no “debt” is Dave Ramsey style approach while Robert Kyosaki utilizes other peoples money.
I prefer Robert Kiyosaki’s book Rich Dad Poor Dad…. He teaches you good debt bad debt.
Oh my God almighty I been stupid my entire life without this financial education, this video is wise for real level God...
Getting rich has nothing to do with our education or intelligence but don’t be fooled, education and intelligence are extremely important
Yup... It's a marathon, not a race.
not being funny, why do I have to wait until I am old to be wealthy? There HAS to be a way to have it sooner than later. I don't need anyone's excitement of things I own. Wealth makes sense. I want to enjoy my life too.
It’s a good point. I guess you have to decide for yourself what wealth is for you.
Start your own online business and invest some in other businesses & keep repeating it over & over again until you reach being wealthy and leaving an empire legacy.
This is a valid point. Especially for folks anywhere around 20-30 years old. This method is essentially a long term safety net to becoming rich.
Don’t be fooled. Most millionaires become wealthy by inheritance and cash value life insurance (which usually takes time). Very few become wealthy and stay wealthy as by hitting the lottery or starting a company called Apple or Tesla. Those people are 1 in 1 million per say.
Most make the mistake of trying to get rich and wealthy first. When in all actuality most should secure the future first (ironic) then build the foundation for today after securing the long term future financials.
I don’t know, this is just my opinion for someone whose 28yrs old.
dammm you went in on your uncle homie
Well it seems if you’re over 50 it’s a bit too late?