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'The Psychology of Money' has significantly influenced investment strategies by emphasizing the importance of understanding the psychological aspects of money management. It suggests that investors should accept the inevitability of risk and volatility in the market, rather than trying to game the system. It also highlights the importance of patience and long-term thinking in wealth building. These insights have led to a shift in investment strategies, with more focus on behavioral finance and the psychological aspects of investing.
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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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Like the car, investors have three options. They can either A) accept this volatility as the price of those returns, B) accept lower returns with less volatility, or C) try to game the system and get those returns without the volatility. Like with the car, some car thieves will get away, many of them will not.
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