Author Topic: The Psychology of Money - by Morgan Housel  (Read 2499 times)

foghorn

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The Psychology of Money - by Morgan Housel
« on: September 07, 2020, 06:04:53 AM »
Has anyone else read this book?  I saw a review of it a few weeks ago in the Wall Street Journal and decided to pick it up.  It is a terrific read - I knocked  it out in a couple of days.

I think most people here will align with the stories and lessons.  I am always fascinated by human behavior and this book does not disappoint on that front.

Some of the topics that are covered are things we all talk about (being frugal, spend less than you make, living below your means, etc.).  But also covers topics like - personal finance really is personal, having enough, the folly of market timing and thinking you are smart enough to buy the right stock at the right time.

The author writes in a very compelling and easy to read manner.  There is no heavy math or investing strategies here.

I am even considering picking up a few copies as gifts.

Psychstache

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Re: The Psychology of Money - by Morgan Housel
« Reply #1 on: September 07, 2020, 06:44:09 AM »
I listen to the Motley Fool a lot as infotainment, but Morgan used to work there and be a frequent guest and when he came on k world actually listen. They interviewed him about the book on the latest Motley Fool Money and it sounded interesting. Glad to hear a direct positive review.

mies

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Re: The Psychology of Money - by Morgan Housel
« Reply #2 on: September 26, 2021, 06:35:26 PM »
I just finished reading this a few days ago. I thought it was a good read. A lot of the ideas he talks about in the book are things he has mentioned in the Collaborative Fund blog. If you enjoy his blog posts, you'll probably like the book too.

Dave1442397

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Re: The Psychology of Money - by Morgan Housel
« Reply #3 on: October 05, 2021, 05:29:56 AM »
I read it, and liked it. He had some points about how people view money that I really hadn't thought about before, but you can see where they're coming from.

The point about lower income people spending a higher proportion of their income on lottery tickets was something I've noticed before. As he said, when you never have money, lottery tickets give you hope, no matter how slim the odds of winning. My wife had a patient who ran a successful food truck, but was spending up to $700 a week on scratch cards because he saw a big win as his chance to retire.

MadBikePoet

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Re: The Psychology of Money - by Morgan Housel
« Reply #4 on: March 07, 2022, 11:53:45 AM »

megaschnauzer

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Re: The Psychology of Money - by Morgan Housel
« Reply #5 on: April 04, 2022, 10:01:12 AM »
i just put it on my list

megaschnauzer

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Re: The Psychology of Money - by Morgan Housel
« Reply #6 on: June 13, 2022, 08:25:49 AM »
I finished it this weekend. I probably should've read it 30 years ago.

joe189man

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Re: The Psychology of Money - by Morgan Housel
« Reply #7 on: June 13, 2022, 08:35:58 AM »
Tim Ferriss interviewed him also, great podcast

https://tim.blog/2022/03/01/morgan-housel-the-psychology-of-money/

i have the book in my audible waiting for time to listen

9unk

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Re: The Psychology of Money - by Morgan Housel
« Reply #8 on: June 19, 2022, 05:49:52 AM »
I really enjoyed this book. Was recommended it by a stranger I met when we began talking money and bettering ourselves on a night shift.

Took me a couple of days to read it.

Very light read but also has some really great points in it that can help you alter your view or just be aware of. I really enjoyed and like the story of the long tail when investing.