Thinking Behind Money and Investing: The Psychology of Money by Morgan Housel




This breezy book takes the reader on a journey across 19 short chapters, which spell out the sometimes odd ways that people think about money and the behavioral psychology surrounding it, then suggest ways to become more financially secure. One example: Author Morgan Housel recommends staying wealthy, as opposed to getting wealthy. To illustrate the point, he draws on the life and work of Berkshire Hathaway Chairman and CEO Warren Buffett, who began investing as a child and simply loves to make money, while he famously shuns the modern trappings of wealth.

Housel maintains that the goal of having money is the freedom it affords people to make choices that make them happy. “It is the highest dividend money pays,” writes Housel, a former Wall Street Journal columnist, who has won many journalism awards. One place where we disagree with Housel: He considers Benjamin Graham’s above-mentioned The Intelligent Investor dated and not useful for today’s investors. However, the rest of his advice is excellent.


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