Picked up the book "The Psychology of Money" by Morgan Housel, a week before, though bought it sometime back.
Thoroughly enjoyed the 20 chapters of the book, which share lots of insights about the economic cycle, compounding, time etc...,
When it comes to money, people are not deciding upon, how they handle it with just a rational approach alone. As human beings have emotions, emotions play crucial roles in everything they handle. Money is also one among them. The psychology of money explores human behaviour with the subject of money and shares some great insights on the subject.
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| The Psychology of Money |
One of the insights from the book is, that Warren Buffett's wealth doesn't come from only his intelligence in picking the stock but handling his emotions, in sticking with it for a long time, so that the compounding of wealth, could offer the best possible returns. He's been in the market for about 3 quarters of a century.
Time is an important factor, which has been neglected by many books on Warren Buffett. But Morgan Housel has zeroed it.
The book might not be the one, which you read once and shelve it forever, but to refer often to make the insights part and parcel of one's life.
