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My new book The Art of Spending Money is out now.
You can buy it here: morganhousel.com/aosm
I hope you enjoy reading it as much as I enjoyed writing it.
Morgan Housel
21.3K posts
Morgan Housel
@morganhousel
Seattle, WA
Joined April 2011
- The Gamestop thing is a reminder that investing is not the study of finance. It's the study of how people behave with money, and sometimes those behaviors are incredible.
- A great "quit while you're ahead" graphic. reddit.com/r/dataisbeauti…
- "Never make fun of people for mispronouncing a word. It means they learned it by reading."
- Spoke to an investor who said “if the market actually processes what happened yesterday it would be down 30-40%. The fact that it’s not is either denial or a belief that it will soon be reversed.”
- School: your paper must be a minimum 5 pages. Real world: you have seven seconds to catch my attention before I click away.
- "renting is throwing your money away" is the kind of thing said by a guy who has never had to replace the roof on a house he owns.
- Heard a good phrase today: mental liquidity. The ability to quickly change your mind without being stuck on a particular world view.
- Return since 2010: Netflix: 2,421% Amazon: 1,468% Tesla: 1,204% Google: 421% Apple: 419% Domino's Freakin' Pizza: 2,501%
- Replying to @morganhousel and @CNBCIf you fix that then the headline becomes "This couple that makes $500K and spends too much money still saves more than 20% of their after-tax salary, which is what happens when you make a lot of money."
- Psychology of Money was the bestselling book on Amazon India, all categories, for the second year in a row. Thanks for reading! 🇮🇳
- Elon Musk is now Warren Buffett richer than Jeff Bezos.
- Teach your kids about compounding: put your money in a savings account and watch it double every 19,876 years.
