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THE PSYCHOLOGY OF MONEY - Commented Book
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Short-Term Investing and the Housing Bubble
During the housing bubble of the mid-2000s, many people were flipping homes to make a quick profit. This was the era of day trading and short-term option contracts. Do you think these flippers cared about long-term price-to-rent ratios or whether the prices they paid were backed up by long-term income growth? Those numbers weren't relevant to their game.
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