THE PSYCHOLOGY OF MONEY (BY MORGAN HOUSEL)

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  • Опубликовано: 22 дек 2024

Комментарии • 1,9 тыс.

  • @TheSwedishInvestor
    @TheSwedishInvestor  3 года назад +273

    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: ruclips.net/video/cuj2Kq8rvGw/видео.html
    Also, for my private stock portfolio & revealing insights into my investment strategy, head over to: www.patreon.com/TheSwedishInvestor

    • @Larry82ch
      @Larry82ch 3 года назад +7

      This was gold, as always! Thanks and keep up the good work!

    • @Kuntal20052011
      @Kuntal20052011 3 года назад +3

      Please make a video on Investing Between the Lines: How to Make Smarter Decisions by Decoding CEO Communications'
      By L J Rittenhouse

    • @gopaldasvideos5448
      @gopaldasvideos5448 3 года назад +1

      Please make a full video on Fundamental Candle sticks analysis.
      Thanks 🙏🙏

    • @liubovnikonets8145
      @liubovnikonets8145 3 года назад

      trading without top skills is risky contact an expert directly for assistance
      Available on whatsapp

    • @liubovnikonets8145
      @liubovnikonets8145 3 года назад

      + 1 3 2 3 4 4 8 0 8 5 5

  • @OldskulPlajeri
    @OldskulPlajeri 3 месяца назад +1540

    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.

  • @abhiroopkumar7573
    @abhiroopkumar7573 Год назад +380

    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.

  • @TheMoneyPlantChannel
    @TheMoneyPlantChannel 3 года назад +1335

    “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

    • @jackfordmac
      @jackfordmac 3 года назад +44

      Insecurity, needing to feel validated, keeping up with the Jones and wanting to treat yourself to things you feel you deserve.

    • @First_Principals
      @First_Principals 3 года назад +5

      Marketing, public relations and advertising are the main reason.

    • @vkrgfan
      @vkrgfan 2 года назад +12

      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.

    • @DaveE99
      @DaveE99 2 года назад +3

      It’s also driven by sexual selection pressures

    • @XxuPrLxX
      @XxuPrLxX 2 года назад +2

      Morgan is right. We need to study the history of greed, insecurity and optimism. But of the ones creating the interests

  • @JohnMoore-r6j
    @JohnMoore-r6j Месяц назад +1650

    Antozent- they are selling around 250 self help ebooks for the price of one (including this one)

  • @CosmosGamingChannel
    @CosmosGamingChannel 3 года назад +348

    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.

    • @RaoufHaouariOfficial
      @RaoufHaouariOfficial 3 года назад +6

      Soo truuue! Same for crypto market

    • @Weccker
      @Weccker 3 года назад +11

      @@RaoufHaouariOfficial there is not any base supporting any crypto's price. It is pure speculation.

    • @halburd1
      @halburd1 3 года назад +4

      yeah? tell that to the bag holders when enron nose dived. idiot saying

    • @CosmosGamingChannel
      @CosmosGamingChannel 3 года назад +4

      @@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)

    • @CosmosGamingChannel
      @CosmosGamingChannel 3 года назад +3

      @@halburd1 and that leads to rule number 3: diversification to mitigate losses

  • @KiyosakiSays
    @KiyosakiSays Год назад +422

    “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

    • @bailey-k6b
      @bailey-k6b Год назад +12

      haha ya... instead of asking the question: what is your income? It should be, What is your in-save?

    • @comfortdavid9583
      @comfortdavid9583 Год назад +4

      Most people fail to realise that in life its not how much money you make. It's how much.

    • @Jaafar_Alkhalifa
      @Jaafar_Alkhalifa 11 месяцев назад +8

      bad advice imo... you don't get rich by saving money

    • @wintermatherne2524
      @wintermatherne2524 11 месяцев назад +4

      How do you invest if you don’t save for investments?

    • @owaisaa1188
      @owaisaa1188 11 месяцев назад

      Robert kiyosaki is unbelievably stupid guy and i highly doubt he can comment something so sensible like this

  • @cindyy3707
    @cindyy3707 2 года назад +40

    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

    • @Niffumable
      @Niffumable 7 месяцев назад +4

      This gave just about no context to the time stamps,
      Thanks a lot lmfao

  • @blazekaizer9000
    @blazekaizer9000 3 года назад +350

    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...

    • @fortusvictus8297
      @fortusvictus8297 3 года назад +13

      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.

    • @1ObsoleteMan
      @1ObsoleteMan Год назад +1

      At least there’s a chance my parents just brought things.

    • @HostileGingerATL
      @HostileGingerATL Год назад +5

      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.

    • @inihilisme1511
      @inihilisme1511 Год назад +6

      @@HostileGingerATL I'm pretty sure a lot of rich woman has long fingernails but anyway.

    • @denirodavareux
      @denirodavareux Год назад

      😊lp

  • @HenriRousseauAuthentique
    @HenriRousseauAuthentique 3 года назад +165

    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.

    • @theinvestingcollegeinvesti6132
      @theinvestingcollegeinvesti6132 2 года назад +8

      keep up the great work, you are definitely not alone brother

    • @george6977
      @george6977 Год назад +7

      Saving to invest in low cost index funds which invest in global equities is the key to compounding wealth.

    • @caucasianafrican1435
      @caucasianafrican1435 8 месяцев назад +6

      You're unstoppable

    • @regyy3019
      @regyy3019 6 месяцев назад +2

      You're in a pretty good position in life

    • @danielogunsanya5188
      @danielogunsanya5188 3 месяца назад

      @@george6977Pls what are these low cost index funds I can invest $50 monthly?

  • @killyflorris6975
    @killyflorris6975 3 года назад +55

    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.

  • @michaelparisone2634
    @michaelparisone2634 2 года назад +25

    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.

  • @jayjords
    @jayjords 3 года назад +222

    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.

    • @StoneMason103
      @StoneMason103 3 года назад +7

      @@mannykhoshbin8297 scaaaaaaam

    • @busybeewashnclean4514
      @busybeewashnclean4514 3 года назад +6

      Majority of billionaires that were self made fixed or are helping to fix world wide problems

    • @jinyow5581
      @jinyow5581 3 года назад +5

      @@busybeewashnclean4514 Pick any five still alive ,then really look into who they are.And how they "started " the end !

    • @mario7adventure658
      @mario7adventure658 3 года назад +1

      Well said

    • @bookbung153
      @bookbung153 3 года назад +13

      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.

  • @jake-z2i
    @jake-z2i Год назад +48

    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)

    • @schan732
      @schan732 Год назад

      I agree with you completely

    • @pokerpokerfan
      @pokerpokerfan Год назад +2

      How can you read that fast?

    • @caleb2507
      @caleb2507 10 месяцев назад +1

      @@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.

    • @G.Family.
      @G.Family. 4 месяца назад

      100% I learnt a lot 🙌

  • @SheikhNaveed
    @SheikhNaveed 2 года назад +11

    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.”

  • @site_is_down
    @site_is_down 2 года назад +54

    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.

    • @25Soupy
      @25Soupy Год назад +5

      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.

    • @george6977
      @george6977 Год назад +2

      @@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.

    • @financialeducation-beeduca739
      @financialeducation-beeduca739 Год назад

      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!

  • @manifestationwithsami
    @manifestationwithsami 3 года назад +107

    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 🤩

    • @jw6058
      @jw6058 2 года назад

      How did you make the step towards the change?

    • @jw6058
      @jw6058 2 года назад +1

      How did you make the step towards the change?

    • @jw6058
      @jw6058 2 года назад

      How did you make the step towards the change?

    • @manifestationwithsami
      @manifestationwithsami Год назад +8

      @@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.

    • @Niffumable
      @Niffumable 7 месяцев назад

      Money is love..? Tf you talm bout, homeboi??

  • @moosesnWoop
    @moosesnWoop 2 года назад +43

    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.

    • @financialeducation-beeduca739
      @financialeducation-beeduca739 Год назад

      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!

  • @Nicorobin04
    @Nicorobin04 2 года назад +25

    This is a video that every investor should watch. It's a terrific lesson in life, not simply investing advice.

  • @papaMidnite33
    @papaMidnite33 Год назад +48

    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.

    • @jubaourdja4579
      @jubaourdja4579 Год назад +4

      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.

    • @timl628
      @timl628 5 месяцев назад +1

      Well there are books that detail the things you speak of. Just read them

    • @匿名-x5m
      @匿名-x5m 3 месяца назад

      ​@@timl628Example?

    • @forestdaydreams9447
      @forestdaydreams9447 2 месяца назад

      ​@@timl628what books are these ? I would be very eager to read them if you can tell me what they are

  • @evolve121
    @evolve121 2 года назад +144

    You can’t just wish to be a millionaire; you have to figure out how to earn it.” - Dolly Parton

    • @financialeducation-beeduca739
      @financialeducation-beeduca739 Год назад +2

      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!

  • @onee
    @onee 2 года назад +7

    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.

  • @nisarmalik2631
    @nisarmalik2631 Год назад +1

    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

  • @SelfMadeWealth
    @SelfMadeWealth 3 года назад +157

    Financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know.

    • @andrzejandrzejos6674
      @andrzejandrzejos6674 3 года назад +2

      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.

    • @luddity
      @luddity 3 года назад +1

      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.

    • @liubovnikonets8145
      @liubovnikonets8145 3 года назад

      + 1 3 2 3 4 4 8 0 8 5 5

    • @mcmjr405
      @mcmjr405 3 года назад +1

      How you behave is largely influenced by what you know though.

    • @ShaunGohKW
      @ShaunGohKW 3 года назад

      Gonna start saving all my money in the bank now *crosses fingers for 8 million* 😁

  • @MrCptSilva
    @MrCptSilva 2 года назад +8

    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.

  • @OceanAce
    @OceanAce 3 года назад +320

    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.

    • @sten260
      @sten260 3 года назад +99

      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

    • @jpmuga
      @jpmuga 3 года назад +90

      @@sten260 what is life? When you retire? Or now?

    • @sten260
      @sten260 3 года назад +15

      @@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)

    • @cautarepvp2079
      @cautarepvp2079 3 года назад +44

      bullshit. :D
      I would prefer to make 600k a year working 10h Please sign me up lol

    • @mxhustle7558
      @mxhustle7558 3 года назад +13

      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.

  • @jessieb7290
    @jessieb7290 Год назад +2

    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.

  • @Cicoo
    @Cicoo 2 года назад +33

    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!

    • @beatricebanwat5462
      @beatricebanwat5462 2 года назад +1

      M͛o͛r͛e͛ UPDATE o͛n͛ N͛F͛T͛s͛,BTC
      W͛h͛a͛t͛s͛a͛p͛p✙𝟷𝟿𝟷𝟶𝟾𝟽𝟼𝟺𝟹𝟾𝟷
      M͛o͛r͛e͛ UPDATE o͛n͛ XRP ,N͛F͛T͛s͛,BTC 📊
      👆👆

  • @WereNeverDuplicated
    @WereNeverDuplicated 2 месяца назад

    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.

  • @Johnhasa1
    @Johnhasa1 3 года назад +5

    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.

    • @greytnezwithaz4706
      @greytnezwithaz4706 10 месяцев назад

      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....

  • @waldemarwergeland6678
    @waldemarwergeland6678 2 года назад

    Takk!

  • @mani.m.84
    @mani.m.84 3 года назад +19

    Thanks for the introduction and summary. I read the book and it completely changed the way I think about investing and money.

  • @valentinstoyanov304
    @valentinstoyanov304 3 года назад +62

    I would argue that this is one of your most valuable videos. Thank you for sharing it with us!

    • @theswedishinvestor5329
      @theswedishinvestor5329 3 года назад +1

      THANKS FOR WATCHING.
      Reach out to me directly for your guidance...!!!
      ..Whats@pp +1. 3 2 1. 2 5 1. 8 3 1 1...

  • @lombardo141
    @lombardo141 2 года назад +4

    I read this book last night non stop. My mind is blown. Worth the dosing off at my cubicle at work. 😂

  • @michamohe
    @michamohe 2 года назад +17

    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

    • @artos9406
      @artos9406 2 года назад

      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

  • @midnightflare9879
    @midnightflare9879 3 года назад +59

    "There's always a bigger fish."
    Mansa Musa: I don't have such weaknesses.

  • @emrehekim776
    @emrehekim776 3 года назад +149

    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.

    • @TheSwedishInvestor
      @TheSwedishInvestor  3 года назад +12

      Thank you for your support emre Bozkurt! I agree with you completely!

    • @sten260
      @sten260 3 года назад +8

      greed can be a good thing too, makes you work harder

  • @saltyshackles5227
    @saltyshackles5227 3 года назад +8

    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.

  • @AchieversWorkshop
    @AchieversWorkshop 2 года назад +24

    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!

    • @financialeducation-beeduca739
      @financialeducation-beeduca739 Год назад

      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!

  • @TomBraxton9
    @TomBraxton9 4 месяца назад

    This is amazing. “Wealth has no shortcuts, there’re ways to attain it.”

  • @shawnhall7066
    @shawnhall7066 2 года назад +15

    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.🤓📽️📱💻

  • @TheFinancialVault101
    @TheFinancialVault101 Год назад +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!

  • @damien6941
    @damien6941 3 года назад +7

    "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.

    • @sten260
      @sten260 3 года назад +1

      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%

  • @annastayziaa
    @annastayziaa 2 года назад

    Thank you ♥️

  • @henryskipper1592
    @henryskipper1592 3 года назад +47

    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.

    • @investaajforkai9658
      @investaajforkai9658 3 года назад

      For more guidance
      W=H=A=S=P=P
      4. 4. 7. 9. 8. 4. 3 . 7. 8. 1. 6. 9

    • @breadgarlichouse
      @breadgarlichouse 2 года назад

      Covid is a planned event by the freemasons

  • @TayfunSahika
    @TayfunSahika 4 месяца назад

    I can\'t recommend shirlest enough for anyone looking to change their money mindset. It\'s truly a treasure trove of wisdom!

  • @onsilverlining
    @onsilverlining 3 года назад +12

    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.

    • @brandonbeavisinvesting3012
      @brandonbeavisinvesting3012 3 года назад

      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__

  • @sriharij4596
    @sriharij4596 9 месяцев назад

    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.

  • @thetradingbotbootcamp2309
    @thetradingbotbootcamp2309 3 года назад +18

    Really good content everyone should see/read. I wish they teach these kind of things in school!

  • @dbtoney1
    @dbtoney1 3 года назад +9

    Great one for anyone to listen to and read during these times 👍

  • @areyoufit9047
    @areyoufit9047 15 дней назад +1

    Many people simply don’t care about their financial situation until it’s too late. It’s easy to do but also easy not to. My 3 pieces of advice which are nothing new:
    1. Spend less than you earn.
    2. Invest the surplus.
    3. Stay out of debt.

  • @drewgraham1482
    @drewgraham1482 3 года назад +5

    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.

    • @samhaun3929
      @samhaun3929 3 года назад

      Not terribly helpful. What other books?

    • @drewgraham1482
      @drewgraham1482 3 года назад +1

      @@samhaun3929 Misbehaving by Thaler and The Alchemy of Finance by Soros (although not specifically a behavioural book) helped me the most.

    • @theinvestingcollegeinvesti6132
      @theinvestingcollegeinvesti6132 2 года назад

      @@samhaun3929 I'd suggest random walk on wall street, helps me alot in stock investing

  • @MuhammedAsli-o3t
    @MuhammedAsli-o3t 4 месяца назад

    Shirlest just understands manifestation in a way that\'s so relatable and practical. It\'s refreshing to see this kind of content!

  • @Mehwhatevr
    @Mehwhatevr 2 года назад +9

    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

    • @beatricebanwat5462
      @beatricebanwat5462 2 года назад

      M͛o͛r͛e͛ UPDATE o͛n͛ N͛F͛T͛s͛,BTC
      W͛h͛a͛t͛s͛a͛p͛p✙𝟷𝟿𝟷𝟶𝟾𝟽𝟼𝟺𝟹𝟾𝟷
      M͛o͛r͛e͛ UPDATE o͛n͛ XRP ,N͛F͛T͛s͛,BTC 📊
      👆👆

  • @GoPro239
    @GoPro239 3 месяца назад

    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. :)

  • @YatChunPoon
    @YatChunPoon 3 года назад +4

    If I could think like this 10years ago. My life wouldnt be the same. Thank you for this video!

    • @site_is_down
      @site_is_down 2 года назад +2

      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!

  • @voidfroze
    @voidfroze 3 месяца назад

    “Crazy is in the eye of the beholder” is a wonderful life principle, not just for finances!

  • @stanleyhys
    @stanleyhys 3 года назад +9

    Every investor should watch this at least once

  • @PartTimeInvesting
    @PartTimeInvesting 3 года назад +34

    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.

  • @Ma.CristinaDeLosSantos-s1g
    @Ma.CristinaDeLosSantos-s1g Год назад

    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.

  • @subanchhetri8254
    @subanchhetri8254 3 года назад +9

    Love from nepal❤i learned alot of things from this channel

  • @oh_rhythm
    @oh_rhythm 2 года назад +1

    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".

  • @mmytacist
    @mmytacist 3 года назад +13

    I enjoyed this summary video more than I did the actual book---Thanks!

    • @brandonbeavisinvesting3012
      @brandonbeavisinvesting3012 3 года назад

      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__

  • @ahboogle
    @ahboogle 3 года назад +1

    The problem with showing the Netflix stock is selection bias. Its easy picking that after the fact but how would you pick Netflix amongst all the other tech stocks at the time itself. How do you find the netflix now. Anyone can show a graph of Microsoft and say wow look if you had bought it 20 years ago. Well what if you had bought one of the tech stocks that failed?

  • @finnleybyres7813
    @finnleybyres7813 3 года назад +7

    This was a good book, I read it in January and I recommend it.

    • @Mr.Monta77
      @Mr.Monta77 3 года назад +1

      I read it in February and I’m not that convinced.

    • @Mark-te8ky
      @Mark-te8ky 3 года назад

      you found anything else like this?

    • @finnleybyres7813
      @finnleybyres7813 3 года назад +1

      @@Mark-te8ky there’s the free audiobook for the “Rich Dad, Poor Dad” on RUclips that I was able to finish in about a week. There are a few other finance books on RUclips that I haven’t gotten to yet that might be worth listening to.

  • @ashleyj7789
    @ashleyj7789 2 года назад

    Very very nice man. Well explained and summarized. If I could offer
    just a tiny bit of critique: you have a great accent, there are just a few times
    when you rush it when the words 'splurge' into each other and I couldn't understand
    it. Taking your time is key....There were only a few of these -- just making you aware in case you were unaware [the
    reason I bring it up is because just one instance of this and someone like me will rewind about 10 times
    to try to decipher that part]. But truthfully, was one of the best summaries I've ever heard. Thank you.

  • @katlehosuping5663
    @katlehosuping5663 3 года назад +64

    We celebrate whenever the Swedish lays some wisdom on us

    • @brandonbeavisinvesting3012
      @brandonbeavisinvesting3012 3 года назад

      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__

    • @malcolmskinner3117
      @malcolmskinner3117 3 года назад

      Yes and those pretty Swedish women who lay it down as well.

    • @DrErnst
      @DrErnst 3 года назад +1

      liten tuva välter ofta stort last. swedish proverb.

  • @jamesaquitania9480
    @jamesaquitania9480 2 года назад

    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 🎵

  • @NuggetHe17
    @NuggetHe17 3 года назад +12

    Dude, your videos are literally the most enjoyable to watch, and I watch 5-8 hours of RUclips everyday. Great job!

    • @sigma9425
      @sigma9425 3 года назад +1

      5-8 Hours is a lot dude. You can understand the things much better, when you read the book and watch the videos about it.❤️

    • @JB-mb6lm
      @JB-mb6lm 3 года назад

      Dude 8 hrs? Come on man

    • @MJ-uk6lu
      @MJ-uk6lu 3 года назад +1

      @@JB-mb6lm Pretty normal, if you are student and you have vacation.

  • @Tweetogreggieb59
    @Tweetogreggieb59 2 года назад

    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.

  • @LonelyHeartsChannel
    @LonelyHeartsChannel 3 года назад +14

    0:10 saving b is important but he must have starved himself to save 8M. And now he's very rich but very dead.

    • @Mystical3030
      @Mystical3030 3 месяца назад +2

      He was raised in a farm, hitchhiked to school, worked as a technician in the army, bought a house, paid for his kids college, worked as a gas station attendant n janitor, spent on what is important... Died peacefully at 90 plus years n donated a huge amount to charity n hospitals and a large chunk of inheritance to his children n grandchildren. All because he lived frugally n had a diversified investment.

    • @kidchris7693
      @kidchris7693 3 месяца назад

      Amen!

  • @x-perimentalthoughts
    @x-perimentalthoughts 3 года назад +9

    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 💯💯💯

    • @theswedishinvestor32
      @theswedishinvestor32 3 года назад

      Becarful and vigilant reply on WhatsApp only ;;;;;+;;;;1;;;;;7;;;;6;;;;2;;;;2;;;4;;;;8;;;;2;;;;3;;;;2;;:0??

    • @theswedishinvestor32
      @theswedishinvestor32 3 года назад

      Becarful and vigilant reply on WhatsApp only ;;;;;+;;;;1;;;;;7;;;;6;;;;2;;;;2;;;4;;;;8;;;;2;;;;3;;;;2;;:0??

  • @mrraho3973
    @mrraho3973 5 месяцев назад +1

    Never risk what you have and need for what you don't have and don't need💯

  • @frugalsavers
    @frugalsavers Год назад +4

    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.

  • @ezsu
    @ezsu 8 месяцев назад

    I love to watch animations you're the best animation channel in the world

  • @alexblanco3301
    @alexblanco3301 3 года назад +9

    I actually buy the books you recommend. I think you for your service. They are really helping me think

  • @jhowborgs
    @jhowborgs Год назад

    Tks 4 making this video, I will definitely take these teachings with me for a lifetime 🤑

  • @tansa19
    @tansa19 3 года назад +7

    Why don't you make videos on warren buffet letters from 1970 to 2021 . Only you can do it . I wish you will do . It will be great help teacher . Thank you

    • @luke-bu6zy
      @luke-bu6zy 3 года назад +1

      There’s a book that’s done exactly that

    • @tansa19
      @tansa19 3 года назад

      @@luke-bu6zy video would be more helpful big brother. Picture helps to remember

  • @PsychologyChronicles-o8f
    @PsychologyChronicles-o8f Месяц назад +1

    This video is worth a million bucks.

  • @anjanbehera7193
    @anjanbehera7193 3 года назад +3

    This channel has become a nice hangout place for me recently. Nice work !!

    • @theswedishinvestor32
      @theswedishinvestor32 3 года назад

      Becarful and vigilant reply on WhatsApp only ;;;;;+;;;;1;;;;;7;;;;6;;;;2;;;;2;;;4;;;;8;;;;2;;;;3;;;;2;;:0?

    • @josephgerhardt4828
      @josephgerhardt4828 3 года назад

      Same here m8 very relaxing beautiful stories

  • @antonioanticipated
    @antonioanticipated 3 года назад +2

    Legit book!!! Read it 5 months ago and was very impressed

  • @rookem8967
    @rookem8967 3 года назад +3

    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.

  • @guilhermecavalcanti6249
    @guilhermecavalcanti6249 3 месяца назад

    This channel it’s awesome!!! Congrats for the knowledge

  • @ramentabetai1266
    @ramentabetai1266 3 года назад +8

    Naval Ravikant's money tweetstorm is super insightful. A 3-hour video adaptation/explanation on youtube is also great.

    • @investaajforkai9658
      @investaajforkai9658 3 года назад

      For more guidance
      W=H=Ä=Š=P=P
      +4 ,4 ,7, 9 ,8, 4 ,3 ,7 ,8 ,1 ,6 ,9

  • @CP4Z167
    @CP4Z167 2 года назад +1

    These book summaries are great, much appreciated.

  • @lcastill2013
    @lcastill2013 3 года назад +6

    This book is legit!! so good!

    • @investaajforkai9658
      @investaajforkai9658 3 года назад

      For more guidance
      W=H=Ä=Š=P=P
      +4 ,4 ,7, 9 ,8, 4 ,3 ,7 ,8 ,1 ,6 ,9

  • @investingeducation8504
    @investingeducation8504 2 года назад +1

    Superb book. Thanks to this channel and Morgan Housel.

  • @evolve121
    @evolve121 2 года назад +11

    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

  • @Brandon-xp1ob
    @Brandon-xp1ob 2 года назад +1

    I listened to the audiobook version. Very insightful

  • @92kosta
    @92kosta 3 года назад +12

    6:47 - "There's always a bigger fish"
    *Jeff disagrees.

    • @mukundbakshi3083
      @mukundbakshi3083 3 года назад +4

      *Elon - hold my beer

    • @Heathcz
      @Heathcz 3 года назад

      he got most money, but not as popular or respected as Elon for example

    • @drarunaj
      @drarunaj 3 года назад +1

      Elon:Jeff who?

    • @ocadioan
      @ocadioan 3 года назад +2

      Some oil sheikhs would probably be more than capable of topping Jeff's net worth.

    • @SotPorle
      @SotPorle 3 года назад

      Yes

  • @maxwellrolle4481
    @maxwellrolle4481 2 года назад

    This has blown my mind and humbled me!!!!🙏🙏🙏

  • @RegulusVi
    @RegulusVi 3 года назад +16

    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.

    • @timilehinajao8127
      @timilehinajao8127 3 года назад +4

      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.

    • @RegulusVi
      @RegulusVi 3 года назад

      @@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.

    • @wouter7165
      @wouter7165 3 года назад +1

      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

    • @monoclethefifthwatcher763
      @monoclethefifthwatcher763 3 года назад

      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.

  • @BereanInvestors
    @BereanInvestors Год назад

    Great Presentation by Morgan. Thank you for this good video.

  • @OAnalistaSinceroBruceBarbosa
    @OAnalistaSinceroBruceBarbosa 3 года назад +5

    Fantastic!! Always recommend this channel to everyone...

    • @brandonbeavisinvesting3012
      @brandonbeavisinvesting3012 3 года назад

      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__

    • @investaajforkai9658
      @investaajforkai9658 3 года назад +1

      For more guidance
      W=H=A=S=P=P
      4. 4. 7. 9. 8. 4. 3 . 7. 8. 1. 6. 9

  • @কবিতারূপ
    @কবিতারূপ Год назад

    Psychology Of Money good vedio.thanks for sharing this RUclips channel 👍

    • @DeepDiveBooks
      @DeepDiveBooks Год назад

      If you're still interested in 'THE PSYCHOLOGY OF MONEY' you might want to check out this video. It offers another way of interpreting the book. Sorry to bother you!
      ruclips.net/p/PLIP4BtF_Dx8hZ8lUC5jvkL1UI66lOvYxh

  • @macult
    @macult 6 месяцев назад +6

    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

    • @anasimic8345
      @anasimic8345 3 месяца назад

      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 😅

  • @haneulkim4902
    @haneulkim4902 3 года назад +2

    Love your videos!! Thanks a lot and happy new year :)

  • @KnowThyFuture
    @KnowThyFuture 3 года назад +17

    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.

  • @BatCountryAdventures
    @BatCountryAdventures 3 года назад +1

    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

    • @investaajforkai9658
      @investaajforkai9658 3 года назад

      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

  • @jasonsange4038
    @jasonsange4038 3 года назад +7

    You have a great channel here, very underrated!