Discover new books on Goodreads
Meet your next favorite book
One of the most important foundational elements of my investment philosophy is my conviction that we can’t know what the “macro future” has in store for us in terms of things like economies, markets or geopolitics. Or, to put it more
...more
“To make money they didn’t have and didn’t need, they risked what they did have and did need. And that’s foolish. It is just plain foolish. If you risk something that is important to you for something that is unimportant to you, it just does not make any sense. There is no reason to risk what you have and need for what you don’t have and don’t need.”
― The Psychology of Money
― The Psychology of Money
“I call this soft skill the psychology of money. The aim of this book is to use short stories to convince you that soft skills are more important than the technical side of money. I’ll do this in a way that will help everyone—from Read to Fuscone and everyone in between—make better financial decisions.”
― The Psychology of Money
― The Psychology of Money
“People do some crazy things with money. But no one is crazy. Here’s the”
― The Psychology of Money
― The Psychology of Money
“Everyone has their own unique experience with how the world works. And what you’ve experienced is more compelling than what you learn second-hand. So all of us—you, me, everyone—go through life anchored to a set of views about how money works that vary wildly from person to person. What seems crazy to you might make sense to me.”
― The Psychology of Money
― The Psychology of Money
“Bill Gates once said, “Success is a lousy teacher. It seduces smart people into thinking they can’t lose.” When things are going extremely well, realize it’s not as good as you think. You are not invincible, and if you acknowledge that luck brought you success then you have to believe in luck’s cousin, risk, which can turn your story around just as quickly. But the same is true in the other direction. Failure can be a lousy teacher, because it seduces smart people into thinking their decisions were terrible when sometimes they just reflect the unforgiving realities of risk. The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there won’t wipe you out so you can keep playing until the odds fall in your favor.”
― The Psychology of Money
― The Psychology of Money
Timothy’s 2025 Year in Books
Take a look at Timothy’s Year in Books, including some fun facts about their reading.
0 books
|
249 friends
1 book
|
22 friends
0 books
|
20 friends
0 books
|
18 friends
55 books
|
32 friends
0 books
|
11 friends
21 books
|
24 friends
1 book
|
22 friends
More friends…
Favorite Genres
Polls voted on by Timothy
Lists liked by Timothy