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

Quotes about The Psychology of Money

When investors have different goals and time horizons—and they do in every asset class—prices that look ridiculous to one person can make sense to another, because the factors those investors pay attention to are different - Morgan Housel
The core message here is that there is no single "correct" price for an asset. Value is not an objective number; it's a personal calculation based on individual circumstances.
Posted inWisdom

The Psychology of Money Quote

Every financial decision a person makes, makes sense to them in that moment and checks the boxes they need to check - Morgan Housel
At its core, this quote strips away the judgment we so often place on financial choices. It argues that every money move, no matter how irrational it seems from the outside, is the result of a person's unique internal logic and emotional needs in that specific moment.