The Morgan Housel Podcast Rules of the Money Game
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Mar 15, 2023 Discover key rules for effective money management that can significantly enhance your financial journey. Humility and emotional intelligence play crucial roles in wealth building, while understanding the balance of risk and luck is essential. Embrace patience, as quick gains often lead to pitfalls. Explore how hope and group influence shape our financial beliefs and decisions. Learn from historical examples to navigate the complexities of investing and cultivate long-term success.
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It Can Happen To You
- Bad financial things happen to everyone eventually.
- Reading about behavioral biases helps you understand yourself, not just others.
Value Independence
- Value financial independence above all else.
- Use money to control your time and do what you want.
Suppress Your Ego
- Avoid spending money to impress others.
- Build wealth by having a gap between your ego and your income.
