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@morganhousel is one of the finest finance thinker & writer of our times. His ideas are like a magic wand for designing a good life. Every kid should know them early. He writes for kid level understanding already, I had fun doing my ELI11 version of his ideas
World is gaze oriented, not goal oriented
Crazy is not what crazy does. Belief shapes behavior
Don't compare with others, every one is playing a different game
Want to copy the fame, then you also get the pain
Luck and risk are soul sisters. Two sides of the same coin
Not all success is due to hard work, not all poverty is due to laziness
Tail events drive every outsize outcome or impact
Think of Ups & down, unknowns as a fee to the game, not a taxing fine
Play you game long enough so that compounding works for you
Be Pessimistic in the short term and Optimistic in the long term
Finance is more biology than physics. Not cold immutable laws, but messy mutation, accidents and adaptations of thumb rules
Highest use of surplus money is independence not retirement
Path for becoming Rich are many, Skills for Staying Rich is only two - prudence & paranoia
Everyone thinks he is a contrarian
All Great products are not Great business
Best way to make bad decision, Go with your Tribal Instincts
Feelings are Immeasurable but many a times more important than data
Every blind spot we have has a good story
How we remember is different from how we experience it
Beginner's mind is the way to deal with overconfidence
Strong opinions, loosely held
For every wisdom that works, an equal opposite wisdom works too
