Posted inLife
The Psychology of Money Quote
No one is impressed with your possessions as much as you are - Morgan Housel
The core message is simple: we vastly overestimate how much other people care about the expensive things we buy.
Posted inWisdom
The Psychology of Money Quote
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 - Morgan Housel
This quote perfectly captures the idea that our financial beliefs aren't based on objective data, but are overwhelmingly shaped by our own unique, and very limited, life experiences.
Posted inWisdom
The Psychology of Money Quote
Bill Gates once said, "Success is a lousy teacher. It seduces smart people into thinking they can’t lose." - Morgan Housel
The core message is that winning can make you overconfident and blind to the role of chance, setting you up for a much harder fall later.