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Book Discussion - The Psychology of Money

Not Overthinking

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Having an Edge and Survival Are Two Different Skills

Having an edge and survival are two different skills, but the first requires the second. The higher your margin of safety, the lower your edge needs to be for a favourable outcome. Making more money in that situation is not lihally going to make you happier. And so you really want a hedge against that risk as much as possible. So if you icus out that you needed ex pounds per year to have enough, or whatever, yo, would yo, still feel ok with making more money. Even if you had enough to last the rest of your life? I'd probably still recommend investing early because i'm not sure how my future will change. Tansy: "I don

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