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Book Review: The Psychology of Money

The Psychology of Money by Morgan Housel is a must-read book on personal finance. A lot of times decisions on personal finances, investments are done using the historical data of the market analyzed on a spreadsheet. But what we forget to consider is the human intervention in the functioning of these markets. This human intervention can often lead to unpredictable markets and unexpected catastrophes which badly affect the market.

So it is important to factor this human intervention, the human emotions associated with the markets. This is where this book does a brilliant job. It teaches finances the way psychology ought to be taught i.e looking at the emotional, behavioral aspects of investments. And it has been aptly titled “The Psychology of Money”.

This is a highly recommended book for anyone who has just started earning because the author speaks highly of investing early and investing regularly. The compounding effects of the investment over decades eclipses any market crashes seen during the period. Also an important read for all of us. Better late than never for starting our investments,

These are some of the important ideas presented by the author:

The book is filled with anecdotes and real-life stories to keep you engaged and associate the ideas learned more easily. The author uses US market as an example for all his ideas but that should be generally applicable to the markets world wide.

So what are you waiting for? Go grab your copy today.

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