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

I really am enjoying this book! I love that it talks in my language and not using all kinds of fancy terms that I don't understand! The stories help you relate to your own spending habits and money mindset. Makes you think and ponder where your money beliefs came from and how you can improve your own spending, saving and investing strategies. A really good read!

- The ideas were clearly explained - Easy to follow - Joy to read - Nice touch at the end with the summary and how the author manages his finances.

"The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness" is a book that promises to offer valuable insights into the complex relationship between money and human behavior. While I'm only at the beginning of my journey with this book, I'm already impressed by the wisdom it imparts and the quality of its condition. The first chapter alone is a treasure trove of wisdom, filled with "gems" that challenge conventional thinking about wealth, greed, and happiness. Through captivating storytelling and thought-provoking anecdotes, the author presents timeless lessons that resonate deeply with readers, prompting introspection and sparking new perspectives on financial decision-making. What sets this book apart is its ability to distill complex concepts into accessible and relatable narratives. Whether discussing the importance of patience in investing or the pitfalls of overconfidence, the author provides practical insights that are applicable to readers from all walks of life, regardless of their level of financial expertise. In addition to its insightful content, I must commend the excellent condition of the book itself. The pages are crisp, the binding is sturdy, and there are no signs of wear or damage. This attention to detail enhances the reading experience and reflects the care and craftsmanship that went into producing this literary masterpiece. Overall, "The Psychology of Money" is shaping up to be a compelling and enlightening read. While I have only scratched the surface of its teachings, I'm already captivated by its wisdom and impressed by its impeccable condition. Whether you're a seasoned investor or someone looking to gain a deeper understanding of the psychology behind financial decisions, this book is sure to provide invaluable insights that will enrich your life for years to come.

Why the book was so easy and enjoyable to read? It has a lot of good examples, data, and fun facts to get the point across to the readers. The chapter titles are attention grabbers that get our attention so that we can read more. However, the most important thing to learn from this book is the "Margin of Safety." According to the author, it is one of the most underappreciated forces in finance. It comes in many forms: a frugal budget, flexible thinking, and a loose timeline - anything that lets you live happily with a range of outcomes. Controlling your time is the highest dividend money pays. The book is pretty much evolved around the concept of "Margin of Safety." It encourages readers to save money and not spend money lavishly. The key is staying wealthy and not just getting wealthy. We can't be complacent and assume that yesterday's success translates into tomorrow's good fortune. Wealth is what you don't see. Spending money to show people how much money you have is the fastest way to have less money. Good investing is not about getting the highest returns. It's about getting good returns that you can stick with and which can be repeated for the longest period of time. According to the author, the historical odds of making money in US markets are 50/50 over one-day periods, 68% in one-year periods, 88% in 10-year periods, and (so far) 100% in 20-year periods. Forecasting is hard. This is why investment guru Benjamin Graham strongly advocates for the margin of safety, as the purpose of the margin of safety is to render the forecast unnecessary. The author cited the success rate of venture financing from 20024 to 2014: 65% lost money, 2.5% of investments made 10X to 20X, 1% made more than 20X return, and only 1/2% (~100 companies) earned 50X or more. According to George Soros, it is not important whether you are right or wrong but how much money you make when you're right and how much you lose when you're wrong. You can be wrong half the time and still make a fortune. The most interesting part of the book is the last chapter: Postscript. Thanks to the internet, the world is more connected than ever. That means that the talent pool the readers compete with has gone from 100s or 1000s sprang their towns to millions or billions spanning the globe. The author ended the book with a not-so-pessimistic note. The era of "this isn't working" may stick around. And the era of "We need something radically new, right now, whatever it is" may stick around.

what an amazing book. it really opens your mind about how you see wealth and money. my personal rating 11/10.

Good book . It changes the perspective of money that we usually have for ourselves

Love, love this book! My holiday read.

Very interesting book

Highly recommended for anyone who is considering to invest in stocks or intends to do at some point in their life. Actually, recommended for everyone who struggles to manage their finances. Written in a very simple language. Easy for a layman like me to understand.