There is an iron law economics: extremely good and extremely bad circumstances rarely stay that way for long because supply and demand adapt in hard-to-predict ways.
lk 183
Kõik mõtted: Morgan Housel
The Psychology of Money 22
The bigger the gap between what you want to be true and what you need to be true to have an acceptable outcome, the more you are protecting yourself from falling victim to an appealing financial fiction.
lk 196
The Psychology of Money 21
The Psychology of Money 20
Like everything else worthwhile, successful investing demands price. But its currency is not dollars and cents. It’s volatility, fear, doubt, uncertainty, and regret— all of which are easy too overlook until you’re dealing with them in real time.
lk 158
The Psychology of Money 19
Every job looks easy when you’re not the one doing it because the challenges faced by someone in the arena are often invisible to those in the crowd.
lk 158
The Psychology of Money 18
The trick that often goes overlooked—even by the wealthiest—is what we saw in chapter 10: realizing that you don’t need a specific reason to save.
lk 145
The Psychology of Money vol 17
The most important economic events of the future—things that will move the needle the most—are things that history gives us little to no guide about.
lk 128
The Psychology of Money vol 16
The Psychology of Money vol 15
Most forecasts about where the economy and the stock market are heading next are terrible, but making forecasts is reasonable.
lk 119
The Psychology of Money vol 14
The Psychology of Money vol 13
The man who can do the average thing when all those around him are going crazy.
Napoleon
lk 76
The Psychology of Money vol 12
It is not intuitive that investor can be wrong half the time and still make a fortune. It means we underestimate how normal it is for a lot of things to fail.
lk 72
The Psychology of Money vol 11
The ability to stick around for a long time, without wiping out or being forced to give up, is what makes the biggest difference. This should be the cornerstone of your strategy, whether it’s investing or your career or a business you own.
lk 60
The Psychology of Money vol 10
But there’s only one way to stay wealthy: some combination of frugality and paranoia.
lk 57
The Psychology of Money vol 9
Good investing is not necessarily about making good decisions. It’s about consistently not screwing up.
lk 55
