The Psychology of Money · Collaborative Fund


126 bookmarks. First posted by jdroth june 2018.


Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
10 weeks ago by indirect
"Wealth, in fact, is what you don’t see. It’s the cars not purchased. The diamonds not bought. The renovations postponed, the clothes forgone and the first-class upgrade declined. It’s assets in the bank that haven’t yet been converted into the stuff you see. But that’s not how we think about wealth, because you can’t contextualize what you can’t see. When most people say they want to be a millionaire, what they really mean is 'I want to spend a million dollars,' which is literally the opposite of being a millionaire."
a:Morgan-Housel  p:Collaborative-Fund  d:2018.06.01  w:8000  instructional  investing  personal-finance  psychology  via:bankbryan 
11 weeks ago by andrewjbates
"Wealth, in fact, is what you don’t see. It’s the cars not purchased. The diamonds not bought. The renovations postponed, the clothes forgone and the first-class upgrade declined. It’s assets in the bank that haven’t yet been converted into the stuff you see. But that’s not how we think about wealth, because you can’t contextualize what you can’t see. When most people say they want to be a millionaire, what they really mean is 'I want to spend a million dollars,' which is literally the opposite of being a millionaire."
a:Morgan-Housel★  p:Collaborative-Fund  d:2018.06.01  w:8000  instructional  investing  personal-finance  psychology  from instapaper
12 weeks ago by bankbryan
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
august 2018 by nertzy
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. via Pocket
IFTTT  Pocket 
july 2018 by djhworld
"That’s because investing is not the study of finance. It’s the study of how people behave with money. And behavior is hard to teach, even to really smart people. You can’t sum up behavior with formulas to memorize or spreadsheet models to follow. Behavior is inborn, varies by person, is hard to measure, changes over time, and people are prone to deny its existence, especially when describing themselves."
investing  money  psychology  risk  finance 
july 2018 by earth2marsh
The Psychology of Money via Instapaper https://ift.tt/2HfmKpl
from instapaper
june 2018 by jurvis
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by blenderking
investing is not the study of finance. It’s the study of how people behave with money. And behavior is hard to teach, even to really smart people. You can’t sum up behavior with formulas to memorize or spreadsheet models to follow. Behavior is inborn, varies by person, is hard to measure, changes over time, and people are prone to deny its existence, especially when describing themselves.

Grace and Richard show that managing money isn’t necessarily about what you know; it’s how you behave. But that’s not how finance is typically taught or discussed. The finance industry talks too much about what to do, and not enough about what happens in your head when you try to do it.
finance 
june 2018 by celine
“Was it really necessary to tell her that if you spend money on things, you will end up with the things and not the money?”

You can laugh. But the truth is, yes, people need to be told that. When most people say they want to be a millionaire, what they really mean is “I want to spend a million dollars,” which is literally the opposite of being a millionaire. This is especially true for young people.

A key use of wealth is using it to control your time and providing you with options...
finance  psychology  investing  money  via:popular 
june 2018 by cglinka
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by paryshnikov
Investing is not the study of finance. It’s the study of how people behave with money - …
from twitter
june 2018 by rdr
Behavioral biases relevant to investing.
psychology  investing 
june 2018 by gunsch
The psychology of money: . Excellent. Not just finances, but life. Perspective, intentions,…
from twitter
june 2018 by tulbox
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by timwburch
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by mitch.olson
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by dylanc
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car.
june 2018 by AnthonyBaker
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. She lived most of her life alone in a one-bedroom house and worked her whole career as a secretary. She was, by all accounts, a lovely lady. But she lived a humble and quiet life. That made the $7 million she left to charity after her death in 2010 at age 100 all t...
psychology  finance  money  investing  economics  life 
june 2018 by e2b
In what other field does someone with no education, no relevant experience, no resources, and no connections vastly outperform someone with the best education, the most relevant experiences, the best resources and the best connections? There will never be a story of a Grace Groner performing heart surgery better than a Harvard-trained cardiologist. Or building a faster chip than Apple’s engineers. Unthinkable.

But these stories happen in investing.

That’s because investing is not the study of finance. It’s the study of how people behave with money. And behavior is hard to teach, even to really smart people. You can’t sum up behavior with formulas to memorize or spreadsheet models to follow. Behavior is inborn, varies by person, is hard to measure, changes over time, and people are prone to deny its existence, especially when describing themselves.
Investing 
june 2018 by 1luke2
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by michaelfox
1. "The Psychology of Money" by :
2. "Avoiding stupidity is easier than seekin…
from twitter_favs
june 2018 by yonair
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. She lived most of her life alone in a one-bedroom house and worked her whole career as a secretary. She was, by all accounts, a lovely lady. But she lived a humble and quiet life. That made the $7 million she left to charity after her death in 2010 at age 100 all t...
money  investing  finance  psychology  economics  life 
june 2018 by pinterb
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car.
Archive  instapaper  tenpla 
june 2018 by WFreeland
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. She lived most of her life alone in a one-bedroom house and worked her whole career as a secretary. She was, by all accounts, a lovely lady. But she lived a humble and quiet life. That made the $7 million she left to charity after her death in 2010 at age 100 all t...
economics 
june 2018 by tonys
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by johnrclark
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. She lived most of her life alone in a one-bedroom house and worked her whole career as a secretary. She was, by all accounts, a lovely lady. But she lived a humble and quiet life. That made the $7 million she left to charity after her death in 2010 at age 100 all t...
money  psychology  investing 
june 2018 by karl11
20 flaws, biases, and causes of bad behavior I’ve seen pop up often when people deal with money
finance 
june 2018 by parisd
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. via Pocket
IFTTT  Pocket 
june 2018 by wai2k
Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way. Grace Groner was orphaned at age 12.…
from instapaper
june 2018 by flobosg