Valters Šulcs’s Reviews > The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness > Status Update

History is just one damned thing after another.

History can be misleading guide to the future of the economy and stock market because it doesn’t account for structural changes that are relevant to today’s world.

The most important part of every plan is planning on your plan not going according to plan.

The danger is that rational optimism most of the time masks the odds of ruin some of the time.

You can’t prepare for what you can’t envision.

Intelligence is not a reliable advantage in a world that's become as connected as ours has.
But flexibility is.

..few plans of any kind survive their first encounter with the real world.

…behavior is hard to teach, even to really smart people.
A genius who loses control of their emotions can be a financial disaster. The opposite is also true. Ordinary folks with no financial education can be wealthy if they have a handful of behavioral skills that have nothing to do with formal measures of intelligence.