How has 'The Psychology of Money' influenced investment strategies?

Investors might face several obstacles when applying the concepts from The Psychology of Money. These could include emotional biases, such as fear and greed, which can lead to irrational decision-making. They might also struggle with accepting the inherent volatility and risk in investing. To overcome these obstacles, investors need to develop a strong understanding of their own risk tolerance and investment goals. They should also strive to make decisions based on logic and sound financial principles, rather than emotions. Regularly reviewing and adjusting their investment strategies can also be beneficial.

A manufacturing company can apply the investment approaches discussed in 'The Psychology of Money' by understanding and accepting the inevitabilities of risk. They can choose to accept this volatility as the price of returns, accept lower returns with less volatility, or try to game the system and get those returns without the volatility. They can also use powerful wealth-building tools that require little technical skill. It's also important for them to understand how their decisions can be influenced by their mindset and biases, and take steps to mitigate these effects.