What will you learn from this book
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Behavioral Biases: Explores how emotions and biases influence financial decisions, often leading to unexpected outcomes in investing.
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Long-Term Perspective: Emphasizes the importance of adopting a long-term view in managing finances and investing, focusing on consistency over time.
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Risk and Uncertainty: Discusses the difference between risk and uncertainty, and how acknowledging and managing both are crucial in financial decisions.
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Compounding and Patience: Illustrates the power of compounding and the value of patience in wealth accumulation over time.
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Personal Values and Goals: Encourages aligning financial decisions with personal values and long-term goals, rather than chasing short-term gains.
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Adapting to Change: Discusses the need to adapt financial strategies to changing circumstances and economic environments.
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Learning from Mistakes: Encourages learning from financial mistakes, understanding that failures are part of the learning process in wealth management.
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Simplicity in Investing: Advocates for simple and understandable investment strategies rather than complex and risky approaches.
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Behavioral Economics: Introduces concepts from behavioral economics, shedding light on how cognitive biases affect financial decision-making.
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Financial Well-Being: Stresses the importance of financial well-being, emphasizing that it encompasses more than just wealth accumulation.
| Language | English |
|---|---|
| ISBN-10 | 9789390166268 |
| ISBN-13 | 9789390166268 |
| No of pages | 252 |
| Font Size | Medium |
| Book Publisher | Jaico Publishing |
| Published Date | 01 Sep 2020 |
About Author
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Timeless lessons on wealth, greed, and happiness doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. How to manage money, invest it, and make business decisions are typically considered to involve a lot of mathematical calculations, where data and formulae tell us exactly what to do. But in the real world, people don’t make financial decisions on a spreadsheet.
They make them at the dinner table, or in a meeting room, where personal history, your unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In the psychology of money, the author shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important matters.