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Quotes about The Psychology of Money

Tail events drive everything - Morgan Housel
The core message is that in finance, business, and life, it's not the average, everyday events that determine your final outcome. It's the extreme, rare, and often unpredictable events, the ones out on the "tail" of the probability distribution, that end up defining the vast majority of your results.
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Quotes about The Psychology of Money principles

Room for error—often called margin of safety—is one of the most underappreciated forces in finance - Morgan Housel
At its core, this quote means that the smartest financial move isn't about maximizing gains, it's about building a buffer that protects you from the inevitable surprises and your own inevitable miscalculations.
Posted inWisdom

Wise advice on The Psychology of Money

Your success as an investor will be determined by how you respond to punctuated moments of terror, not the years spent on cruise control - Morgan Housel
Long-term investing success isn't about brilliant strategies during calm markets; it's about your gut-level reaction during sudden, violent downturns.
Posted inWisdom

Quotes about The Psychology of Money

Risk is what’s left over when you think you’ve thought of everything - Morgan Housel
At its core, this quote means that true risk isn't the list of dangers you can anticipate; it's the unforeseeable event that emerges precisely because you were so confident in your own preparation.
Posted inWisdom

The Psychology of Money Quote

Progress happens too slowly to notice, but setbacks happen too quickly to ignore - Morgan Housel
The core message is about the fundamental asymmetry in how we experience progress versus failure. Growth is a quiet, cumulative process, while loss is a loud, immediate event.