In economics 101, students are taught that humans are rational, optimizing beings. However, that is not the case and we often need the help of psychology to truly tap into better financial decision making. Morgan Housel has a fresh take on the age old finance books that flood local libraries by taking the focus away from “how to pick the best stocks” to a focus on relationships between people and money. With her minimalist style, Housel explores chapters on why we do silly things with our money to advice for novice investors.
 
Key takeaway: Financial wealth requires discipline, patience, and constructive behavior. You don’t have to be a genius to make money.
 
Quote of the book: “Napoleon’s definition of a military genius was, “The man who can do the average thing when all those around him are going crazy.”
​
Read More: Home