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The Psychology of Money, with Morgan Housel

Afford Anything

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How Important Is Diversification for Long Term Investors?

A lot of it is really just your wrist tis. What are you willing to endure to get the rewardsthat you'e playing? There are a lot of day traders for whom a one % loss would be terrible. As a long term investor, your goal has absolutely nothing to do with to day. It's maximie your income over the next forty or 50 years. Some people find trading really entertaining, even if they don't think it's the best way to maximise their money,. They enjoy it. So i think it's ok to play some dumb games too.

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