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The Psychology of Money, with Morgan Housel

Afford Anything

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Is There a Difference Between Forecast and Expectation?

Piaelle: How do you create adequate room for air such that you are durable, but not overly pessimistic? She says no amount of planning is going to protect you from everything. Piaelle: The purpose of the margin of safety is to render the forecast unnecessary. " Flexibility" is probably the single most important financial concept that we have," she says.

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