About This Book :-
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.
- Publisher : Jaico Publishing House (1 September 2020); Jaico Publishing House, JA-1, Jash Chambers, Off Sir Phirozshah Mehtra Road, Fort, Mumbai, Maharashtra 400023 Phone: 022 4030 6767
- Language : English
- Paperback : 252 pages
- ISBN-10 : 9390166268
- ISBN-13 : 978-9390166268
- Item Weight : 210 g
- Dimensions : 20.3 x 25.4 x 4.7 cm
- Country of Origin : India
- Importer : Jaico Publishing House, JA-1, Jash Chambers, Off Sir Phirozshah Mehtra Road, Fort, Mumbai, Maharashtra 400023 Phone: 022 4030 6767
- Packer : Jaico Publishing House, JA-1, Jash Chambers, Off Sir Phirozshah Mehtra Road, Fort, Mumbai, Maharashtra 400023 Phone: 022 4030 6767
- Generic Name : Paperback Book
- Best Sellers Rank: #1 in Books (See Top 100 in Books)
- #1 in Analysis & Strategy
- #3 in Personal Transformation
- Customer Reviews:
Reviews :-
4.6 out of 5 (38,029 global ratings)
Ayachi (Verified Purchase) rated this book as 5 stars and said that :
I wish if I have read this book 20 years ago!!
In less than 200 pages Morgan Housel succeeded through several short stories about money and business management to provide learned lessons.
The book uses plain English, easy to read and to understand.
He exposed many myths and fake assumptions in the business world, especially the dilemma of luck vs. talent.
It is fascinating to know for example that Bill Gates studied in the only high-school in the US that by luck had a computer in 1968, one in a million chance.
The chapter 19 is like a summary of major ideas but there are some interesting ideas to think about and we may agree or disagree with it:
1. "You are one person in a game with 7 billion other people and infinite moving part", so we underestimate significantly the role of luck and world complexity.
2. "Saving is income minus ego" so be careful with your ego spending!
3 "Happiness is results minus expectations", so be careful with your expectations!
3. "Individual wealth is what you don't see, hidden" so big house, fancy car or Instagram photos are spends or debts of Individual, the visible part you see, not their wealth.
4. "Customer is always right" and "customers don't know what they want", both accepted business wisdom.
5. Napoleon’s definition of a military genius was, “The man who can do the average thing when all those around him are going crazy.”
AfshinGanji (Verified Purchase) rated this book as 5 stars and said that :
I have read many books on the subjects of psychology and finance but have to say that this is the best book by far! I often highlight interesting parts to review later and must admit that this book is almost entirely yellow! Housel has an amazing ability to distill complex ideas to everyday useful bits of information. I cannot recommend this book highly enough. After reading it twice already I can honestly say I would have happily paid a lot more for this book!
About The Author (Morgan Housel):
Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal.
He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He lives in Seattle with his wife and two kids.
