Want to know more about human psychology and its relation to money? Check out my top 10 (!) takeaways from Thinking Fast and Slow by Daniel Kahneman here: th-cam.com/video/cuj2Kq8rvGw/w-d-xo.html Also, for my private stock portfolio & revealing insights into my investment strategy, head over to: www.patreon.com/TheSwedishInvestor
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
“Diana Casteel Lynch” a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in finance
Most people talk about the psychology of money, but few understand it. Morgan Housel lays it out perfectly, yet there’s an even deeper layer that platforms like Nixorus are tapping into. If you’re not paying attention, you might just miss the real secrets.
People say 'Master of Digital Business' was banned on multiple platforms for revealing too much about easy online income. The author has gone missing, but the book is still on Borlest
My Key takeaways: 1. Your attitude towards money matters more than how smart you are. 2. Understand that the stock market can be unpredictable, but accepting and managing its ups and downs is necessary for potential wealth. 3. Remember that there will always be people with more money, so avoid risking what you have and need for unnecessary wants. 4. Recognize that everyone is different, and it's better to develop your own investment approach instead of blindly imitating others. 5. Prepare yourself mentally and financially to handle unexpected financial setbacks or emergencies. 6. Be cautious when seeking investment advice, as negative outlooks may seem more practical, but optimism can also be valuable in making informed decisions.
Im 22yrs old, I didn't go to university and I am actually working in an insurance company as a customer service advisor. It's been 4 years now & I still got the half of my first revenue in my savings account. While my fellow friends were spending money on alcohol, partying, having 'fun' and buying fast food everyday... I was saving my money for no reason at all. I remember one day, we didn't get paid on time everybody was stressed out and angry. I was calm and relaxed because that was not a problem for me. I don't brag and its not superiority like one may thought, it's simply discipline. May not be extraordinary but I got myself a Vespa, I buy groceries monthly & I can go on weekends at hotels with my gf often and I still save as much as i can. Discipline is key.
“To grasp why people bury themselves in debt you don’t need to study interest rates; you need to study the history of greed, insecurity, and optimism.” Morgan Housel
In todays day and age you can accumulate debt without being greedy all needs to happen is some kind of accident or health issue to slide down the debt hole. In fact the majority of folks holding large debt not because of greed but because they have not received basic financial education and can’t even get their basic financial needs met.
The best advice I got from a few wealthy friends. 1) Research the company before you invest. If you believe in the company, it will make it easier to hold during bear markets. 2) The fool sells when the market is red. The wise man sees a discount and buys more.
This video is worth a million bucks. And coming from public school, I remember friends with parents that were really poor and bought a lot of lottery tickets...
Similar memories and I recall the acerbic envy. To the point that I physically cringe when I hear someone say 'Must be nice...' in that condescending tone. Heard that too much as a kid. But, interestingly enough, never on the farm. My family were mostly farmers and when I left the 'city' (town) to stay with family on the farm they never talked like that and no one around did, people didn't talk about money at all actually. Only property and trades.
Lottery tickets are always a sign on the poor. Same as slot machines in gas stations. And wearing Jordan’s. Long fingernails. 26” rims on car(s), list goes on & on.
The issue with envy is really a barrier to financial success, because it makes you impatient and want wealth now. At least this is my experience with stock investing. Money will come, simply be patient, consistent, and careful. A penny saved is a panny earned.
@@jw6058 my feeling about money is based on my beliefs, isn’t it? I started to be more conscious about my beliefs about money. The first step to changing any limiting belief is questioning that belief. For example, you may have a belief that rich people are not great or spiritual people! If you have this belief ask: Where does this belief come from? Is this my own belief or did someone else (or society) put it in my mind? Is this really true? Is there any false evidence about that (some other examples disapproving of this belief)? With questioning your belief you slowly adopt a new belief. I believe now money is holy. Money is valuable and with that, I can do many great things in the world like helping others.
bvllsxit bro, there is a lot of people who have bad behaviour but they earn regularly so much money that they can afford to behave bad :) Your behaviour could be the greatest ever but when your income is sadly small you would not achieve any financial success.
Yes, there should be support groups for all those compulsive gamblers on wall street. Might lower their suicide rate if they can discover the true treasures that life has to offer, instead of thinking that money is all that matters, rather than being just a tool.
You are wiser beyond tour years. You research, illustrations and examples are priceless. Thank you for sharing your wisdom and time and I love your channel.
Well by investing in the right company, you are helping the company staying alive, therefore, helping people indirectly. Its like saying I would rather be a doctor to save lives... but you can be a researcher to come up with new drugs which can save millions of people or even civil engineer to make sure that the building doesn’t collapse and kills.
I just read the book in one afternoon session. Incredibly insightful and well written. This video sums it up nicely, yet I recommend to everyone to still pick up this book and read it, it's definitely worth the time (and money)
@@pokerpokerfanreading is like anything. It takes practice and the more you do it the better and faster. I encourage you to read extensively as it stimulates the mind and teaches patience as well. Very useful skill that is highly underrated.
Thanks for commenting! If you're looking for more content on this subject, I have a lot of videos on my channel that you might find helpful. Feel free to check it out and subscribe!
This is really an inspiring story of Ronald Read! Saving is the act of setting aside money you would rather not spend now for possible use in the future. Investing is the other kinds of investment tools with an outlook that their value will grow your money. Ronald just had the right balance between savings and investing, that's why he had such a huge amount even if his work is not one of the high paying jobs in the world. Nothing's impossible really.
Ronald took money, gifts, and food from people that couldn't afford to do so but they believed the janitor had even less then him so out of good will they gave to him. If he would have rewarded those giving people by leaving them his money after his death I could respect and appreciate it. You may believe Ronald had the right balance between savings and investing but not between wealth and living life. What good is dying with $8 million when living just one step up from being homeless and taking advantage of other people's generosity who have so much less.
@@25Soupy Ronald bought himself a 2 bedroom dwelling when he was 35 so he presumably had a comfortable rather than flashy lifestyle. When he died at 92 he gave $2m to his grandchildren and $6m to his local hospital so he was a generous philanthropist.
I love how these books always talk about the basic stuff. And I mean the really basic stuff. No framework, or how to start your portfolio, which best practices are exactly helpful, or structured cash flow possibilities are mostly used. No understanding about taxes, financial loopholes, etc. Because the book is just a consumer good, that is one way to make money off the people who buy it!! The self-help book market, as well as the "get rich" market, is worth billions of dollars a year.
This is simple man, the system and the rich need to make the poor belive that they can be rich like them.And a lot of people belive that only hard can make them rich. In reality most of rich are born rich, it very to move form being poor to becoming rich. In the past, like the 60s, this process of going up in the society was more easy because they were more opportunities, but today, it’s not the case anymore.
Lessons from ‘Psychology of Money’ by Morgan Housel 1. “Money’s greatest intrinsic value - and this can’t be overstated - is its ability to give you control over your time.” 2. “Spending money to show people how much money you have is the fastest way to have less money.” 3. “Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what u want, when u want, with who u want, for as long as you want to, pays the highest dividend that exists in finance.” 4. “Controlling your time is the highest dividend money pays.” 5. “doing something you love on a schedule you can’t control can feel the same as doing something you hate.” 6. “Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.” 7. “Be nicer & less flashy. No one is impressed with ur possessions as much as u are. U might think u want a fancy car or a nice watch. But what u probably want is respect & admiration. & u’re more likely 2 gain those things through kindness & humility than horsepower & chrome.” 8. “Saving is the gap between your ego and your income.” 9. “Using your money to buy time and options has a lifestyle benefit few luxury goods can compete with.” 10. “To grasp why people bury themselves in debt, you don’t need to study interest rate: you need to sturdy the history of greed , insecurity and optimism.” 11. “Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you.” 12. “But there’s only one way to stay wealthy: some combination of frugality and paranoia.” 13. “Doing well with money has a little to do with how smart you are and a lot to do with how you behave” 14. “The only way to be wealthy is to not spend the money that you do have. It’s not just the only way to accumulate wealth; it’s the very definition of wealth.” 15. “one of the most powerful ways to increase your savings isn’t to raise your income. It’s to raise your humility.” 16. “Expecting things to be bad is the best way to be pleasantly surprised when they’re not. Which, ironically, is something to be optimistic about.” 17. “Happiness, as it’s said, is just results minus expectations.”
These are some great fundamentals that every investor should have. It's good housekeeping. Thanks for making this video, you're educating a lot of new retail investors entering the market. I personally like watching these videos, because it's not "selling" anyting or "analyising" anything - it's just core principals.
I appreciate your comment! If you're looking for more content on this topic, I have a lot of videos on my channel that you might find helpful. Be sure to subscribe to stay up to date!
8:55 I once saw an economist also talk about this topic. And someone from the public responded to that about how economists miss the point. Even Morgan Housel. They aren't buying "Hope!" It really isn't about that. Yes, poor people are often less smart, but buying a lottery ticket is a very cheap way to get a thrill for them. To have fun. That's why they buy that. They might be less educated, but they also know that their chances are very low. But that "What if?" is what makes them excited. Same applies to people who bet on sport's games. I've betted a little my self in the past, and the games that are normally quite boring, are all of a sudden interesting.
This really explains why some people like celebrities, people in government etc never give to charity or seem to be grounded. Very interesting, sounds like a good book.
I would rather make 600k a year and make enough money to retire faster so I don't have to deal with working at all for the rest of my life. But if you only make 40k you gonna work for 40 years even though only 2 hours per day, but still worse because its sloooow
It all depends on your values. Life is made up of time so you have to decide what is important. If 40k for 2 hours a day means more time to enjoy life in the present, then 40k is enough. If 600k for 10 hours means you get rich quicker but give more of your soul to acquire it, then that is enough. But you have to decide. Personally, I'd mix and match the two - work a couple 2 hour shifts here and a couple 10 hour shifts there, with a nice cashflow of income, you can invest the difference and work when you want - If you have the skills that the market requires of course.
10x my investments in the past year alone from putting my savings and salary into the stock market on carefully researched stocks. My general advice is invest in the future, sectors such as Electric Cars, Recycling, Green Energy, Nuclear Energy (newer reactors are smaller and amazing), Mining - especially Lithium at the moment and tin, A.I. & medical stocks, specifically Gnenomics. Most importantly, patience and conviction. Never ever let your emotions and fear overcome you during volatile market conditions. Remind yourself why you invested and look 10 years ahead, not 10 seconds. If the stock goes down, it's an opportunity to buy more at a discount price. Finally never do FOMO (fear of missing out). For example Gamestop was a large temptation for all but it is not worth whats it worth. When the stock crashes, alot of people will lose alot of money. A few will make alot of money.
Great content! Love the examples for being greedy . It's not just investing advice, it's a great life lesson. Instagram is full of lies and you have to be careful not to do sth stupid to reach their level.
This video was communicated in a clear, and concise manner. The examples were logical, simple to understand and easy to follow. I'd like to see more videos from this channel.🤓📽️📱💻
one of the hardest concepts for me when I started investing was learning what unrealized gains or losses mean. you only loose or gain money when you cash out or a company goes out of business actually understanding that I was able to let go of a lot of my apprehension in investing because of this as well I actually get excited now when I see stock prices going down, it means I can buy stock at a discount and get even more value on a stock I was going to buy for a long term hold any way
Сan you share experience with me? What are you investing into? Cryptocurrency? Energy? Companies? How much are you spending on researching something, before you actually invest? If yes, what do you research? (You don't have to anwser the last, because it can be too complicated question, but I would want to know first ones
The videos this man does are incoparrible to any other activities you can do to teach yourself about investing in terms of value/time. I'm really glad this channel exists and boosts me into financial freedom. Thank you man!
I'm watching stuff like this atm cause idk if I'd choose wisedom over 2mil if I had a choice. With wisdom, you can build wealth over time. With money, I can just have enough money to live life without having to think about how to get food on the table. Only thing is, you can't buy wisdom. I think wisdom is more valuable. It will benefit every aspect of life, but slowly. Money is like a quick fix in a narrow field.
Yes you're correct. So many people including myself will choose the 2M instead of wisdom... but by just being aware of what is truly the better decision is the 1st step towards making change....
Excellent video Swedish investor! Nassim Taleb is also one of my favorite authors. Interestingly he didn't view COVID19 as a black swan, but a very predictable consequence of an overconnected society.
"You have to pay the price of volatility" For some volatility is the reason why they make money. Really just what type of investor/trader you are. Thanks for th vid.
volatility is always the reason, otherwise the stock market would be flat and nobody would make money. although how much volatility is the question. most people don't mind going 2% or 3% into red but might panic if its 20% or 30%
never posted a comment after watching a vedio - this guy has done a great job highlighting that essential of money lies in attitude rather than financial courses/ education
This made think, and agree, while holding my attention. I was reminded of the quote by Jim Carrey.... “I think everybody should get rich and famous, and have everything they ever dreamed of so they can see that that's not the answer." Money is necessary, and still, we have to look at the bigger picture. I enjoyed this.
People always make fun of the people who buy lottery tickets calling it a "tax on the poor", but fail to realize their psychology behind the decision. I made my own summary for this book on my channel, and I think people will find it useful to watch that after watching your video!
Love this, especially when you highlighted the biological/evolutionary factors around pessimism. It's so important to create an investment strategy that works for you and that you really believe in after you've done diligent research and analysis. This creates the confidence we need to weather the storms of volatility & pessimism!
I completely agree! If you're interested in diving deeper into this topic, I have a lot of videos on my channel that might interest you. Be sure to subscribe for more!
The takeaway number 2 is really resonates with me! It’s astonishing how the constant comparison with others can lead to feelings of inadequacy. Even when you achieve a significant level of success, like earning $500,000 a year, there’s always someone who seems to have more. It’s a reminder that we should focus on our own journeys and what truly makes us happy, rather than getting caught up in the race for more. :)
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After what happened all over the world because of covid19. I learned how to value money more. Save money. If it's not necessary , spend it on more important things like disasters or about our health issues.
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Thanks to the author of Swedish investor channel. I time and again play his book summary videos to keep me reminded about the golden rules for investing.
First off, I love what The Swedish Investor does, it's great stuff. Just wanted to chime in and say that if you are looking for a good book on behavioural finance, or finance in general, this is not the book. There was very, very little substance. I think your money could certainly be spent on many other books reviewed on this channel over this one. It wasn't a terrible read or anything, I just found I didn't learn anything. Anyways, just my 2 cents.
It's never too late to who you might have been. Start building a financially stable future for yourself by investing as early as now. All the best for your investing journey!
Thanks for the video. It takes you back on Earth, especially today, in time of Pandemic and Bullish Market. Everyone is screaming today: Buy Crypto! Buy Gold! Buy Silver! It's very inciting, even for a smart investor. Just tell them to shut up and never listen to these foolish advices.
It's not exactly foolish. Deducing from the video I've just watched you've seen from a Black Swan event that markets are considerably affected and create an opportunity to invest wisely (Buy low). However, it is very "enticing" but with fair reasoning in most cases - just depends on the source... Historically, things have generally gone up anyways and in today's society sitting on your money will get you nowhere quick - just ask someone who's saving with negative interest rates.
@@timilehinajao8127 Totally agreed on the fact that putting all you money on Checking Account or saving Account with negative interest rate is no way to act. As for me, yes, I will invest in some physical Gold and Silver while the prices are relatively low. But I will keep away from crypto.
Seems to me like your mind is stuck in a loop if you thought he advised against buying btc. I see looking at the 4 year crypto market cycle as a lot more predictable than the stock market, especially now
Yet a child committed suicide because of loneliness and isolation from her his friends. A wife increased her drinking...but it goes unnoticed an even younger child has increased screen time and now isn't performing at top level they use to possibly failing an entire semester.
The more i learn about the US economy, the more i wonder why lower middle income Americans don’t just save enough money to leave and go to another country
Your recaps have helped me learn so much more about investing and money philosphy than I thought I had time to learn. I really appreciate it and hope I can help out others the same way you helped me.
Great video. Behavior and self discipline is the key. And to the person reading this comment, I wish you a journey be filled with wise decisions and disciplined choices. May you achieve true financial freedom and master the art of managing money effectively.
Two thumbs up, it's where I'm from and how I come. Now I know why the United States FED reserve has collaborated with the Wall Street cowgirls against me in the stockmarket daily. It all makes sense now I'm a true descendant of Black Wall Street.
He had 8 millions in savings when he died lol He didn’t take not even one cent with him and after all that work and frugality he left it for someone else to spend. But he felt safe all his life knowing it was in his bank account.Sounds pretty sucky to me
@@Mark-te8ky there’s the free audiobook for the “Rich Dad, Poor Dad” on TH-cam that I was able to finish in about a week. There are a few other finance books on TH-cam that I haven’t gotten to yet that might be worth listening to.
It’s 2am. Decide to watch my watch later list videos. Thankful I decide to watch this video and put it on the list. Great video. You gave me a different way of looking at things when it comes to investing. Again thank you and I wish the best for your journey 💯💯💯
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I thought this video would make me feel like I didn’t need to read the book but now I feel like I need to read it more than I did before I watched this 😂
TH-cam has 2 audio versions, the one read by a human takes a bit longer but is well read, more understandable and enjoyable. Just use TH-cam search to find it.
Thanks for your input! If you're interested in learning more about this subject, I have a lot of videos on my channel that you might enjoy. Don't forget to subscribe for more!
good video thanks I would've added a 6th point or rather a side note stating that "the media is not an all knowing objective source of information, but rather a subjective thing that is not objective, is filled with interests and is definitely not all knowing".
This is an insightful piece on money. The monetary system evolves, at the moment digital currencies are taking the space with crypto as the leader. This is enough motivation to accumulate on a truly non-custodial wallet application like the atomic wallet application.
I would recommend this book to everyone that is even remotely interested in personal finance. “Compounding doesn’t rely on earning big returns. Merely good returns sustained uninterrupted for the longest period of time - especially in times of chaos and havoc - will always win.” Morgan Housel
0:40 No the moral is that having a degree from Harvard and so forth doesn’t mean you’re intelligent and being a janitor doesn’t mean you’re not intelligent. This guy was an almighty janitor I’m working hard put aside enough money so I can freely do a job like janitorial work. The kind of job with low stress, low responsibility, independence
Also look for "Bill Hicks' It's a Ride". The economy is only supposed to be an attempt to reflect on the real world so resources can be allocated in the most efficient ways possible. But when the logics are so outrageous, driven by sentiment that are so detached by reality. It is no longer a simulation, it is just games. It's all rather fantastic really. :D
I'm a new subscriber and though I'm yet to watch the rest of your videos this was both insightful and education as well as very constructed. Look forward to seeing more of such content.
There are several concepts in this vid that I wholeheartedly agree with. But one that I challenge is the notion that capitalism creates envy. "Envy: a mostly negative feeling of desire for something that someone else has and you do not". Envy, like greed, jealousy and other negative emotions are part of the human condition. We all them to some degree by virtue (no pun) of being human. What separates us is the degree to which we allow such negative emotions to control our thoughts & behavior, or not. To believe capitalism creates envy implies anybody claiming to be a "socialist" cannot feel envy. HA!. As example, I used to work with a self proclaimed "socialist". He was perhaps the most envious and bitter person I've ever known due to expressions of overwhelming desire for what other people have. But rather than work to earn and acquire his way to a similar level of material wealth, he thought it better those things (money, car, house) should simply be taken from "them" and given to him. How convenient. To say capitalism creates envy is like saying knives and forks create obesity.
Rumor has it that Master of Digital Business was removed because it reveals too many online business secrets. The author mysteriously vanished, and now the book is only on Borlest. It might not be there long.
YOU can interact through (W,,,h,,,@,,t,,,$,...a..p...p) +1.. (7.. 7.. 3)..3 ..4. .0. .0. .9.. 9. .0- To make more profit in crypto currency and stock market__
It takes about 10 years to double your money. Ronald read would have obtained his first million decades prior to his death. He would have lived quite comfortably. Hr would have been a millionaire for the last 30/40 years of his life.
@@lordbyron7287 better to have it, and not need it, than to need it and not have it. He never would have struggled. Would not have the worry of living pay cheque to pay cheque, no doubt if hard times had fallen upon him. He would have dipped into his savings more. The fact of the matter is. Ronald read worked hard, was financially smart. He NEVER earned any significant amount of money from a job and was still able to obtain millions. He is proof that anyone can do it. No excuses, just get up and go for it. Do what he did.
,he proved that people who sit around moaning all day saying that the "little man can't get ahead in life" are all moan and no action. he proved that anyone with a bit of financial common sense could in fact become wealthy.
![PASULOL รามเกียรติ์ ตอนที่ 4 นนทกพบรัก [Ramakien Ep.4: Nonthok in love]](http://i.ytimg.com/vi/tMUQgmZzf_A/mqdefault.jpg)
Want to know more about human psychology and its relation to money? Check out my top 10 (!) takeaways from Thinking Fast and Slow by Daniel Kahneman here: th-cam.com/video/cuj2Kq8rvGw/w-d-xo.html
Also, for my private stock portfolio & revealing insights into my investment strategy, head over to: www.patreon.com/TheSwedishInvestor
This was gold, as always! Thanks and keep up the good work!
Please make a video on Investing Between the Lines: How to Make Smarter Decisions by Decoding CEO Communications'
By L J Rittenhouse
Please make a full video on Fundamental Candle sticks analysis.
Thanks 🙏🙏
trading without top skills is risky contact an expert directly for assistance
Available on whatsapp
+ 1 3 2 3 4 4 8 0 8 5 5
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
“Diana Casteel Lynch” a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in finance
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Most people talk about the psychology of money, but few understand it. Morgan Housel lays it out perfectly, yet there’s an even deeper layer that platforms like Nixorus are tapping into. If you’re not paying attention, you might just miss the real secrets.
What are my missing?😮
People say 'Master of Digital Business' was banned on multiple platforms for revealing too much about easy online income. The author has gone missing, but the book is still on Borlest
How sad 😞
Where can I read it?
How can I find the book?
banned books you need to read
1. Hidden Laws Of The Game
2. Money Borlest
3. Money Hidden Magic
❤❤😢
The Holy Bible is the only book that will give true profit
My Key takeaways:
1. Your attitude towards money matters more than how smart you are.
2. Understand that the stock market can be unpredictable, but accepting and managing its ups and downs is necessary for potential wealth.
3. Remember that there will always be people with more money, so avoid risking what you have and need for unnecessary wants.
4. Recognize that everyone is different, and it's better to develop your own investment approach instead of blindly imitating others.
5. Prepare yourself mentally and financially to handle unexpected financial setbacks or emergencies.
6. Be cautious when seeking investment advice, as negative outlooks may seem more practical, but optimism can also be valuable in making informed decisions.
Thank you!!
thanks for summarizing
Thank you very very much, I understand it better now
Thank you.
So many people are just caught up in their own foolish impulses.
Im 22yrs old, I didn't go to university and I am actually working in an insurance company as a customer service advisor. It's been 4 years now & I still got the half of my first revenue in my savings account. While my fellow friends were spending money on alcohol, partying, having 'fun' and buying fast food everyday... I was saving my money for no reason at all. I remember one day, we didn't get paid on time everybody was stressed out and angry. I was calm and relaxed because that was not a problem for me. I don't brag and its not superiority like one may thought, it's simply discipline. May not be extraordinary but I got myself a Vespa, I buy groceries monthly & I can go on weekends at hotels with my gf often and I still save as much as i can.
Discipline is key.
keep up the great work, you are definitely not alone brother
Saving to invest in low cost index funds which invest in global equities is the key to compounding wealth.
You're unstoppable
You're in a pretty good position in life
@@george6977Pls what are these low cost index funds I can invest $50 monthly?
“To grasp why people bury themselves in debt you don’t need to study interest rates; you need to study the history of greed, insecurity, and optimism.” Morgan Housel
Insecurity, needing to feel validated, keeping up with the Jones and wanting to treat yourself to things you feel you deserve.
Marketing, public relations and advertising are the main reason.
In todays day and age you can accumulate debt without being greedy all needs to happen is some kind of accident or health issue to slide down the debt hole.
In fact the majority of folks holding large debt not because of greed but because they have not received basic financial education and can’t even get their basic financial needs met.
It’s also driven by sexual selection pressures
Morgan is right. We need to study the history of greed, insecurity and optimism. But of the ones creating the interests
“Most people fail to realize that in life, it’s not how much money you make. It’s how much money you keep.” - Robert Kiyosaki
haha ya... instead of asking the question: what is your income? It should be, What is your in-save?
Most people fail to realise that in life its not how much money you make. It's how much.
bad advice imo... you don't get rich by saving money
How do you invest if you don’t save for investments?
Robert kiyosaki is unbelievably stupid guy and i highly doubt he can comment something so sensible like this
Antozent- they are selling around 250 self help ebooks for the price of one (including this one)
The best advice I got from a few wealthy friends.
1) Research the company before you invest. If you believe in the company, it will make it easier to hold during bear markets.
2) The fool sells when the market is red. The wise man sees a discount and buys more.
Soo truuue! Same for crypto market
@@RaoufHaouariOfficial there is not any base supporting any crypto's price. It is pure speculation.
yeah? tell that to the bag holders when enron nose dived. idiot saying
@@Weccker For now. Check into some third gen coins like ADA, ATOM, and ONT. the value isn’t the coin, it’s the network (blockchain)
@@halburd1 and that leads to rule number 3: diversification to mitigate losses
1. Pay the price 2:08
2. Never enough
3. Crazy is in the eye of the beholder
4. Peek a boo 10:35
5. Seduction of pessimism 12:35
This gave just about no context to the time stamps,
Thanks a lot lmfao
This video is worth a million bucks. And coming from public school, I remember friends with parents that were really poor and bought a lot of lottery tickets...
Similar memories and I recall the acerbic envy. To the point that I physically cringe when I hear someone say 'Must be nice...' in that condescending tone. Heard that too much as a kid.
But, interestingly enough, never on the farm. My family were mostly farmers and when I left the 'city' (town) to stay with family on the farm they never talked like that and no one around did, people didn't talk about money at all actually. Only property and trades.
At least there’s a chance my parents just brought things.
Lottery tickets are always a sign on the poor. Same as slot machines in gas stations. And wearing Jordan’s. Long fingernails. 26” rims on car(s), list goes on & on.
@@HostileGingerATL I'm pretty sure a lot of rich woman has long fingernails but anyway.
😊lp
The issue with envy is really a barrier to financial success, because it makes you impatient and want wealth now. At least this is my experience with stock investing. Money will come, simply be patient, consistent, and careful. A penny saved is a panny earned.
Once I changed my feelings about money - money is love and valuable - my life changed: now money is coming to me from different sources every day 🤩
How did you make the step towards the change?
How did you make the step towards the change?
How did you make the step towards the change?
@@jw6058 my feeling about money is based on my beliefs, isn’t it? I started to be more conscious about my beliefs about money. The first step to changing any limiting belief is questioning that belief. For example, you may have a belief that rich people are not great or spiritual people! If you have this belief ask:
Where does this belief come from?
Is this my own belief or did someone else (or society) put it in my mind?
Is this really true?
Is there any false evidence about that (some other examples disapproving of this belief)?
With questioning your belief you slowly adopt a new belief.
I believe now money is holy. Money is valuable and with that, I can do many great things in the world like helping others.
Money is love..? Tf you talm bout, homeboi??
Financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know.
bvllsxit bro, there is a lot of people who have bad behaviour but they earn regularly so much money that they can afford to behave bad :) Your behaviour could be the greatest ever but when your income is sadly small you would not achieve any financial success.
Yes, there should be support groups for all those compulsive gamblers on wall street. Might lower their suicide rate if they can discover the true treasures that life has to offer, instead of thinking that money is all that matters, rather than being just a tool.
+ 1 3 2 3 4 4 8 0 8 5 5
How you behave is largely influenced by what you know though.
Gonna start saving all my money in the bank now *crosses fingers for 8 million* 😁
You are wiser beyond tour years. You research, illustrations and examples are priceless. Thank you for sharing your wisdom and time and I love your channel.
I'd rather impress and impact people by creating value for their lives which is the only true and honest path to wealth and abundance.
@@mannykhoshbin8297 scaaaaaaam
Majority of billionaires that were self made fixed or are helping to fix world wide problems
@@busybeewashnclean4514 Pick any five still alive ,then really look into who they are.And how they "started " the end !
Well said
Well by investing in the right company, you are helping the company staying alive, therefore, helping people indirectly.
Its like saying I would rather be a doctor to save lives... but you can be a researcher to come up with new drugs which can save millions of people or even civil engineer to make sure that the building doesn’t collapse and kills.
I just read the book in one afternoon session. Incredibly insightful and well written. This video sums it up nicely, yet I recommend to everyone to still pick up this book and read it, it's definitely worth the time (and money)
I agree with you completely
How can you read that fast?
@@pokerpokerfanreading is like anything. It takes practice and the more you do it the better and faster. I encourage you to read extensively as it stimulates the mind and teaches patience as well. Very useful skill that is highly underrated.
100% I learnt a lot 🙌
You can’t just wish to be a millionaire; you have to figure out how to earn it.” - Dolly Parton
Thanks for commenting! If you're looking for more content on this subject, I have a lot of videos on my channel that you might find helpful. Feel free to check it out and subscribe!
This is really an inspiring story of Ronald Read! Saving is the act of setting aside money you would rather not spend now for possible use in the future. Investing is the other kinds of investment tools with an outlook that their value will grow your money. Ronald just had the right balance between savings and investing, that's why he had such a huge amount even if his work is not one of the high paying jobs in the world. Nothing's impossible really.
Ronald took money, gifts, and food from people that couldn't afford to do so but they believed the janitor had even less then him so out of good will they gave to him. If he would have rewarded those giving people by leaving them his money after his death I could respect and appreciate it. You may believe Ronald had the right balance between savings and investing but not between wealth and living life. What good is dying with $8 million when living just one step up from being homeless and taking advantage of other people's generosity who have so much less.
@@25Soupy
Ronald bought himself a 2 bedroom dwelling when he was 35 so he presumably had a comfortable rather than flashy lifestyle. When he died at 92 he gave $2m to his grandchildren and $6m to his local hospital so he was a generous philanthropist.
Thanks for sharing your perspective! I cover similar topics on my channel, so feel free to check it out and join the conversation by subscribing!
I love how these books always talk about the basic stuff. And I mean the really basic stuff. No framework, or how to start your portfolio, which best practices are exactly helpful, or structured cash flow possibilities are mostly used. No understanding about taxes, financial loopholes, etc.
Because the book is just a consumer good, that is one way to make money off the people who buy it!! The self-help book market, as well as the "get rich" market, is worth billions of dollars a year.
This is simple man, the system and the rich need to make the poor belive that they can be rich like them.And a lot of people belive that only hard can make them rich. In reality most of rich are born rich, it very to move form being poor to becoming rich. In the past, like the 60s, this process of going up in the society was more easy because they were more opportunities, but today, it’s not the case anymore.
Well there are books that detail the things you speak of. Just read them
@@timl628Example?
@@timl628what books are these ? I would be very eager to read them if you can tell me what they are
Lessons from ‘Psychology of Money’ by Morgan Housel
1.
“Money’s greatest intrinsic value - and this can’t be overstated - is its ability to give you control over your time.”
2.
“Spending money to show people how much money you have is the fastest way to have less money.”
3.
“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what u want, when u want, with who u want, for as long as you want to, pays the highest dividend that exists in finance.”
4.
“Controlling your time is the highest dividend money pays.”
5.
“doing something you love on a schedule you can’t control can feel the same as doing something you hate.”
6.
“Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.”
7.
“Be nicer & less flashy. No one is impressed with ur possessions as much as u are. U might think u want a fancy car or a nice watch. But what u probably want is respect & admiration. & u’re more likely 2 gain those things through kindness & humility than horsepower & chrome.”
8.
“Saving is the gap between your ego and your income.”
9.
“Using your money to buy time and options has a lifestyle benefit few luxury goods can compete with.”
10.
“To grasp why people bury themselves in debt, you don’t need to study interest rate: you need to sturdy the history of greed , insecurity and optimism.”
11.
“Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you.”
12.
“But there’s only one way to stay wealthy: some combination of frugality and paranoia.”
13.
“Doing well with money has a little to do with how smart you are and a lot to do with how you behave”
14.
“The only way to be wealthy is to not spend the money that you do have. It’s not just the only way to accumulate wealth; it’s the very definition of wealth.”
15.
“one of the most powerful ways to increase your savings isn’t to raise your income. It’s to raise your humility.”
16.
“Expecting things to be bad is the best way to be pleasantly surprised when they’re not. Which, ironically, is something to be optimistic about.”
17.
“Happiness, as it’s said, is just results minus expectations.”
This is a video that every investor should watch. It's a terrific lesson in life, not simply investing advice.
These are some great fundamentals that every investor should have. It's good housekeeping. Thanks for making this video, you're educating a lot of new retail investors entering the market.
I personally like watching these videos, because it's not "selling" anyting or "analyising" anything - it's just core principals.
I appreciate your comment! If you're looking for more content on this topic, I have a lot of videos on my channel that you might find helpful. Be sure to subscribe to stay up to date!
8:55 I once saw an economist also talk about this topic. And someone from the public responded to that about how economists miss the point. Even Morgan Housel. They aren't buying "Hope!" It really isn't about that. Yes, poor people are often less smart, but buying a lottery ticket is a very cheap way to get a thrill for them. To have fun. That's why they buy that. They might be less educated, but they also know that their chances are very low. But that "What if?" is what makes them excited. Same applies to people who bet on sport's games. I've betted a little my self in the past, and the games that are normally quite boring, are all of a sudden interesting.
This really explains why some people like celebrities, people in government etc never give to charity or seem to be grounded.
Very interesting, sounds like a good book.
I remember someone once told me they'd rather make 40K per year working two hours a day rather making 600K per year working 10.
I would rather make 600k a year and make enough money to retire faster so I don't have to deal with working at all for the rest of my life. But if you only make 40k you gonna work for 40 years even though only 2 hours per day, but still worse because its sloooow
@@sten260 what is life? When you retire? Or now?
@@jpmuga both, but I would rather spend my 8 hours a day on something more enjoyable than working for somebody else company (if I had enough money)
bullshit. :D
I would prefer to make 600k a year working 10h Please sign me up lol
It all depends on your values. Life is made up of time so you have to decide what is important. If 40k for 2 hours a day means more time to enjoy life in the present, then 40k is enough. If 600k for 10 hours means you get rich quicker but give more of your soul to acquire it, then that is enough. But you have to decide. Personally, I'd mix and match the two - work a couple 2 hour shifts here and a couple 10 hour shifts there, with a nice cashflow of income, you can invest the difference and work when you want - If you have the skills that the market requires of course.
10x my investments in the past year alone from putting my savings and salary into the stock market on carefully researched stocks. My general advice is invest in the future, sectors such as Electric Cars, Recycling, Green Energy, Nuclear Energy (newer reactors are smaller and amazing),
Mining - especially Lithium at the moment and tin, A.I. & medical stocks, specifically Gnenomics.
Most importantly, patience and conviction. Never ever let your emotions and fear overcome you during volatile market conditions. Remind yourself why you invested and look 10 years ahead, not 10 seconds. If the stock goes down, it's an opportunity to buy more at a discount price. Finally never do FOMO (fear of missing out). For example Gamestop was a large temptation for all but it is not worth whats it worth. When the stock crashes, alot of people will lose alot of money. A few will make alot of money.
Great content! Love the examples for being greedy . It's not just investing advice, it's a great life lesson.
Instagram is full of lies and you have to be careful not to do sth stupid to reach their level.
Thank you for your support emre Bozkurt! I agree with you completely!
greed can be a good thing too, makes you work harder
This video was communicated in a clear, and concise manner. The examples were logical, simple to understand and easy to follow. I'd like to see more videos from this channel.🤓📽️📱💻
one of the hardest concepts for me when I started investing was learning what unrealized gains or losses mean. you only loose or gain money when you cash out or a company goes out of business
actually understanding that I was able to let go of a lot of my apprehension in investing
because of this as well I actually get excited now when I see stock prices going down, it means I can buy stock at a discount and get even more value on a stock I was going to buy for a long term hold any way
Сan you share experience with me? What are you investing into? Cryptocurrency? Energy? Companies? How much are you spending on researching something, before you actually invest? If yes, what do you research? (You don't have to anwser the last, because it can be too complicated question, but I would want to know first ones
The videos this man does are incoparrible to any other activities you can do to teach yourself about investing in terms of value/time.
I'm really glad this channel exists and boosts me into financial freedom.
Thank you man!
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I'm watching stuff like this atm cause idk if I'd choose wisedom over 2mil if I had a choice. With wisdom, you can build wealth over time. With money, I can just have enough money to live life without having to think about how to get food on the table. Only thing is, you can't buy wisdom. I think wisdom is more valuable. It will benefit every aspect of life, but slowly. Money is like a quick fix in a narrow field.
Yes you're correct. So many people including myself will choose the 2M instead of wisdom... but by just being aware of what is truly the better decision is the 1st step towards making change....
Excellent video Swedish investor! Nassim Taleb is also one of my favorite authors. Interestingly he didn't view COVID19 as a black swan, but a very predictable consequence of an overconnected society.
For more guidance
W=H=A=S=P=P
4. 4. 7. 9. 8. 4. 3 . 7. 8. 1. 6. 9
Covid is a planned event by the freemasons
"There's always a bigger fish."
Mansa Musa: I don't have such weaknesses.
"You have to pay the price of volatility"
For some volatility is the reason why they make money. Really just what type of investor/trader you are. Thanks for th vid.
volatility is always the reason, otherwise the stock market would be flat and nobody would make money. although how much volatility is the question. most people don't mind going 2% or 3% into red but might panic if its 20% or 30%
never posted a comment after watching a vedio - this guy has done a great job highlighting that essential of money lies in attitude rather than financial courses/ education
Yes I started to read this book this week. So far so good. I may have to read it another time to let it sink in.
This made think, and agree, while holding my attention. I was reminded of the quote by Jim Carrey.... “I think everybody should get rich and famous, and have everything they ever dreamed of so they can see that that's not the answer." Money is necessary, and still, we have to look at the bigger picture. I enjoyed this.
Thanks for the introduction and summary. I read the book and it completely changed the way I think about investing and money.
I read this book last night non stop. My mind is blown. Worth the dosing off at my cubicle at work. 😂
I would argue that this is one of your most valuable videos. Thank you for sharing it with us!
THANKS FOR WATCHING.
Reach out to me directly for your guidance...!!!
..Whats@pp +1. 3 2 1. 2 5 1. 8 3 1 1...
People always make fun of the people who buy lottery tickets calling it a "tax on the poor", but fail to realize their psychology behind the decision. I made my own summary for this book on my channel, and I think people will find it useful to watch that after watching your video!
Love this, especially when you highlighted the biological/evolutionary factors around pessimism. It's so important to create an investment strategy that works for you and that you really believe in after you've done diligent research and analysis. This creates the confidence we need to weather the storms of volatility & pessimism!
I completely agree! If you're interested in diving deeper into this topic, I have a lot of videos on my channel that might interest you. Be sure to subscribe for more!
The takeaway number 2 is really resonates with me! It’s astonishing how the constant comparison with others can lead to feelings of inadequacy. Even when you achieve a significant level of success, like earning $500,000 a year, there’s always someone who seems to have more. It’s a reminder that we should focus on our own journeys and what truly makes us happy, rather than getting caught up in the race for more. :)
I'm reading this now so I'll favorite and watch it later, but this by far is one of the best books I've read in a while.
YOU can interact through
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+1.. (7.. 7.. 3)..3 ..4. .0. .0. .9.. 9. .0-
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After what happened all over the world because of covid19. I learned how to value money more. Save money. If it's not necessary , spend it on more important things like disasters or about our health issues.
We celebrate whenever the Swedish lays some wisdom on us
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Yes and those pretty Swedish women who lay it down as well.
liten tuva välter ofta stort last. swedish proverb.
Thanks to the author of Swedish investor channel. I time and again play his book summary videos to keep me reminded about the golden rules for investing.
Most people fail to realize that in life, it’s not how much money you make. It’s how much money you keep.” - Robert Kiyosaki
This is amazing. “Wealth has no shortcuts, there’re ways to attain it.”
First off, I love what The Swedish Investor does, it's great stuff. Just wanted to chime in and say that if you are looking for a good book on behavioural finance, or finance in general, this is not the book. There was very, very little substance. I think your money could certainly be spent on many other books reviewed on this channel over this one. It wasn't a terrible read or anything, I just found I didn't learn anything. Anyways, just my 2 cents.
Not terribly helpful. What other books?
@@samhaun3929 Misbehaving by Thaler and The Alchemy of Finance by Soros (although not specifically a behavioural book) helped me the most.
@@samhaun3929 I'd suggest random walk on wall street, helps me alot in stock investing
If I could think like this 10years ago. My life wouldnt be the same. Thank you for this video!
It's never too late to who you might have been. Start building a financially stable future for yourself by investing as early as now. All the best for your investing journey!
I can\'t recommend shirlest enough for anyone looking to change their money mindset. It\'s truly a treasure trove of wisdom!
Thanks for the video. It takes you back on Earth, especially today, in time of Pandemic and Bullish Market.
Everyone is screaming today: Buy Crypto! Buy Gold! Buy Silver! It's very inciting, even for a smart investor.
Just tell them to shut up and never listen to these foolish advices.
It's not exactly foolish. Deducing from the video I've just watched you've seen from a Black Swan event that markets are considerably affected and create an opportunity to invest wisely (Buy low).
However, it is very "enticing" but with fair reasoning in most cases - just depends on the source... Historically, things have generally gone up anyways and in today's society sitting on your money will get you nowhere quick - just ask someone who's saving with negative interest rates.
@@timilehinajao8127 Totally agreed on the fact that putting all you money on Checking Account or saving Account with negative interest rate is no way to act. As for me, yes, I will invest in some physical Gold and Silver while the prices are relatively low. But I will keep away from crypto.
Seems to me like your mind is stuck in a loop if you thought he advised against buying btc. I see looking at the 4 year crypto market cycle as a lot more predictable than the stock market, especially now
Yet a child committed suicide because of loneliness and isolation from her his friends. A wife increased her drinking...but it goes unnoticed an even younger child has increased screen time and now isn't performing at top level they use to possibly failing an entire semester.
“Crazy is in the eye of the beholder” is a wonderful life principle, not just for finances!
The more i learn about the US economy, the more i wonder why lower middle income Americans don’t just save enough money to leave and go to another country
I was thinking this exact thing, then again, I wouldn't want all those Americans come to Europe so it's good that they stay where they are 😅
Giọng Đức Phúc đỉnh quá đi mất. Nó kiểu mộc mạc, ko màu mè và nghe rất chân thành ấy ❤❤❤❤❤ Mong 1 ngày sẽ được ngồi ở trời Đà Lạt và nghe Phúc hát 🎵
Your recaps have helped me learn so much more about investing and money philosphy than I thought I had time to learn.
I really appreciate it and hope I can help out others the same way you helped me.
Never risk what you have and need for what you don't have and don't need💯
Really good content everyone should see/read. I wish they teach these kind of things in school!
Great one for anyone to listen to and read during these times 👍
Every investor should watch this at least once
Great video. Behavior and self discipline is the key. And to the person reading this comment, I wish you a journey be filled with wise decisions and disciplined choices. May you achieve true financial freedom and master the art of managing money effectively.
Never risk what you have or need for what you don't have or need
Thanks for commenting, I’ll refer you to a trader analyst and accountant
,4 ,4 ,7, 9 ,8, 4 ,3 ,7 ,8 ,1 ,6 ,9
Two thumbs up, it's where I'm from and how I come. Now I know why the United States FED reserve has collaborated with the Wall Street cowgirls against me in the stockmarket daily. It all makes sense now I'm a true descendant of Black Wall Street.
He had 8 millions in savings when he died lol He didn’t take not even one cent with him and after all that work and frugality he left it for someone else to spend. But he felt safe all his life knowing it was in his bank account.Sounds pretty sucky to me
Same sentiment here
Or maybe he was happy? Who are you to judge? Did you know him?
It's better to die with surity in bank, you die rich than without any penny in there and die like a dwarf
@@meetkevin5470 stop being concerned, we ain't needing the quick schemes
This was a good book, I read it in January and I recommend it.
I read it in February and I’m not that convinced.
you found anything else like this?
@@Mark-te8ky there’s the free audiobook for the “Rich Dad, Poor Dad” on TH-cam that I was able to finish in about a week. There are a few other finance books on TH-cam that I haven’t gotten to yet that might be worth listening to.
Shirlest just understands manifestation in a way that\'s so relatable and practical. It\'s refreshing to see this kind of content!
It’s 2am. Decide to watch my watch later list videos. Thankful I decide to watch this video and put it on the list. Great video. You gave me a different way of looking at things when it comes to investing. Again thank you and I wish the best for your journey 💯💯💯
Becarful and vigilant reply on WhatsApp only ;;;;;+;;;;1;;;;;7;;;;6;;;;2;;;;2;;;4;;;;8;;;;2;;;;3;;;;2;;:0??
Becarful and vigilant reply on WhatsApp only ;;;;;+;;;;1;;;;;7;;;;6;;;;2;;;;2;;;4;;;;8;;;;2;;;;3;;;;2;;:0??
I enjoyed this summary video more than I did the actual book---Thanks!
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I stumbled upon shirlest and now I can\'t imagine my life without the principles of money manifestation. It\'s transformed everything for me.
I thought this video would make me feel like I didn’t need to read the book but now I feel like I need to read it more than I did before I watched this 😂
Dat book 2 hard! Get da audio if u be at work‼️
TH-cam has 2 audio versions, the one read by a human takes a bit longer but is well read, more understandable and enjoyable. Just use TH-cam search to find it.
Thanks for your input! If you're interested in learning more about this subject, I have a lot of videos on my channel that you might enjoy. Don't forget to subscribe for more!
Hahaha 😂😂😂😂😂😂
I bought lottery tickets this week for the first time in years…that’s a sign of the economy.
And Jeff is envy of the school teacher who married to his ex-wife
@The Swedish Investor This scam is soo cheap
This video is worth a million bucks.
Naval Ravikant's money tweetstorm is super insightful. A 3-hour video adaptation/explanation on youtube is also great.
For more guidance
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+4 ,4 ,7, 9 ,8, 4 ,3 ,7 ,8 ,1 ,6 ,9
good video
thanks
I would've added a 6th point or rather a side note stating that "the media is not an all knowing objective source of information, but rather a subjective thing that is not objective, is filled with interests and is definitely not all knowing".
This book is legit!! so good!
For more guidance
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+4 ,4 ,7, 9 ,8, 4 ,3 ,7 ,8 ,1 ,6 ,9
Legit book!!! Read it 5 months ago and was very impressed
I actually buy the books you recommend. I think you for your service. They are really helping me think
I feel smarter after watching this.
This is an insightful piece on money. The monetary system evolves, at the moment digital currencies are taking the space with crypto as the leader. This is enough motivation to accumulate on a truly non-custodial wallet application like the atomic wallet application.
Read "How to own the world" by Andrew Craig - Could be a good one for your channel.
I would recommend this book to everyone that is even remotely interested in personal finance.
“Compounding doesn’t rely on earning big returns. Merely good returns sustained uninterrupted for the longest period of time - especially in times of chaos and havoc - will always win.” Morgan Housel
0:40 No the moral is that having a degree from Harvard and so forth doesn’t mean you’re intelligent and being a janitor doesn’t mean you’re not intelligent. This guy was an almighty janitor
I’m working hard put aside enough money so I can freely do a job like janitorial work. The kind of job with low stress, low responsibility, independence
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The insights from shirlest on money manifestation have been a breath of fresh air. Why isn\'t everyone talking about this?
Love from nepal❤i learned alot of things from this channel
Also look for "Bill Hicks' It's a Ride".
The economy is only supposed to be an attempt to reflect on the real world so resources can be allocated in the most efficient ways possible. But when the logics are so outrageous, driven by sentiment that are so detached by reality. It is no longer a simulation, it is just games.
It's all rather fantastic really. :D
Thanks for commenting, I’ll refer you to a trader analyst and accountant
,4 ,4 ,7, 9 ,8, 4 ,3 ,7 ,8 ,1 ,6 ,9
Step 1: Stealing
that's what the corporate giants have been doing.
I'm a new subscriber and though I'm yet to watch the rest of your videos this was both insightful and education as well as very constructed. Look forward to seeing more of such content.
There are several concepts in this vid that I wholeheartedly agree with. But one that I challenge is the notion that capitalism creates envy. "Envy: a mostly negative feeling of desire for something that someone else has and you do not". Envy, like greed, jealousy and other negative emotions are part of the human condition. We all them to some degree by virtue (no pun) of being human. What separates us is the degree to which we allow such negative emotions to control our thoughts & behavior, or not.
To believe capitalism creates envy implies anybody claiming to be a "socialist" cannot feel envy. HA!. As example, I used to work with a self proclaimed "socialist". He was perhaps the most envious and bitter person I've ever known due to expressions of overwhelming desire for what other people have. But rather than work to earn and acquire his way to a similar level of material wealth, he thought it better those things (money, car, house) should simply be taken from "them" and given to him. How convenient.
To say capitalism creates envy is like saying knives and forks create obesity.
This channel has become a nice hangout place for me recently. Nice work !!
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Same here m8 very relaxing beautiful stories
Just Finished Reading this Book. I purchased it after watching your video. Thank you.❤️🇳🇵🌄
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This is an amazing book! A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a great investing book for teens.
Rumor has it that Master of Digital Business was removed because it reveals too many online business secrets. The author mysteriously vanished, and now the book is only on Borlest. It might not be there long.
Fantastic!! Always recommend this channel to everyone...
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Superb book. Thanks to this channel and Morgan Housel.
Point: died with 8million. He died poor. His heirs were rich.
It takes about 10 years to double your money.
Ronald read would have obtained his first million decades prior to his death. He would have lived quite comfortably. Hr would have been a millionaire for the last 30/40 years of his life.
@@MinkieWinkle if you never use it...they are just numbers...potential.
@@lordbyron7287 better to have it, and not need it, than to need it and not have it. He never would have struggled. Would not have the worry of living pay cheque to pay cheque, no doubt if hard times had fallen upon him. He would have dipped into his savings more.
The fact of the matter is. Ronald read worked hard, was financially smart. He NEVER earned any significant amount of money from a job and was still able to obtain millions.
He is proof that anyone can do it. No excuses, just get up and go for it. Do what he did.
@@MinkieWinkle no. He proved we dont need as much as we think. 🤔
,he proved that people who sit around moaning all day saying that the "little man can't get ahead in life" are all moan and no action. he proved that anyone with a bit of financial common sense could in fact become wealthy.