The psychology of money can be used to our advantage in investing by understanding our own biases and emotions that can impact our investment decisions. This includes understanding our risk tolerance, being aware of the impact of fear and greed on our decisions, and being patient and disciplined in our investment approach. It also involves recognizing the role of luck and chance in investing, and not attributing our success or failure solely to our skills or knowledge.
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How should investors manage the inevitabilities of risk? What are the most powerful wealth-building tools that require little technical skill? How do...
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In , investor and finance journalist Morgan Housel answers these questions and shares how human thought, habits, and emotions are intertwined with investment. He shares insights and strategies for how investors can leverage these connections for personal gain — not only financial but personal and emotional as well.