#housel

[alemanbarbecue]

🐩The Tail Can Wag The Dog, Re-read Saturday, The Psychology of Money, Wk 7, Tails, You Win

You can be wrong half the time and still make a fortune. — The subtitle of the chapter. ”You miss all the shots you don’t take”. Michael Jordan Welcome to Week 7 of our re-read of The Psychology of Money: Timeless Lessons On Wealth, Greed, And Happiness by Morgan Housel   Why it matters: If you take advantage of a large enough portfolio of opportunities, a few will yield payoffs well above…

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[alemanbarbecue]

Getting and Staying Wealthy Are Different, Re-read Saturday, The Psychology of Money, Wk 6, Getting Wealthy vs. Staying Wealthy

Week 6 of our re-read of The Psychology of Money: Timeless Lessons On Wealth, Greed, And Happiness by Morgan Housel  “There’s only one way to stay wealthy: some combination of frugality and paranoia.” Why it matters: If you spend or lose it, you don’t have it. Nothing ever goes absolutely to plan in the long run, and unless you have a margin of safety, you will lose wealth. Said differently,…

Getting and Staying Wealthy Are Different, Re-read Saturday, The Psychology of Money, Wk 6, Getting Wealthy vs. Staying Wealthy

[alemanbarbecue]

Interest Is Interesting, Re-read Saturday, The Psychology of Money, Wk 5, Confounding Compounding

“Create constancy of purpose toward improvement of product and service.” Deming, 14 Points for Management Week 5 of our re-read of The Psychology of Money: Timeless Lessons On Wealth, Greed, And Happiness by Morgan Housel Patience is a virtue. Why it matters: Short-term thinking leaves A LOT of money on the table. Change, like interest, builds exponentially if you don’t withdraw the principal…

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[alemanbarbecue]

MORE, MORE, and Then Even MORE! Re-read Saturday, The Psychology of Money, Wk 4, Never Enough

Week 4 of our re-read of The Psychology of Money: Timeless Lessons On Wealth, Greed, And Happiness by Morgan Housel A Cautionary Tale: Years ago, an acquaintance of mine won a lottery prize that was more than enough to secure their retirement. They possessed a stable, clear path to their future, yet they fell prey to the seductive narratives of day traders who promised instant wealth. The…

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[alemanbarbecue]

🤞Are You Feeling Lucky, Re-read Saturday, The Psychology of Money, Wk 3, Luck and Risk

“That space between your ears—that’s yours. You don’t just have to control what gets in, you also have to control what goes on in there.” Ryan Holiday Luck and risk sway outcomes – a lot. Continuing with our re-read of The Psychology of Money: Timeless Lessons On Wealth, Greed, And Happiness by Morgan Housel.  Why it matters:  Assuming your actions completely control a specific outcome is…

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[alemanbarbecue]

🤪Crazy Time, Re-read Saturday, The Psychology of Money, Wk 2, No One’s Crazy

Continuing with our re-read of The Psychology of Money: Timeless Lessons On Wealth, Greed, And Happiness by Morgan Housel.  “We don’t see things as they are, we see them as we are.”  Anaïs Nin “Mama, Weer All Crazee Now” Noddy and Holder, Slade No One’s Crazy Why it matters: One of the central premises of the book is that, financially, people do what they think is right at the time. The…

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[alemanbarbecue]

⚾No Five-Run Home Runs, Re-read Saturday, The Psychology of Money, Wk 1, Logistics and Introduction

Wk 1, Logistics and Introduction The next book in our re-read theme is The Psychology of Money: Timeless Lessons On Wealth, Greed, And Happiness by Morgan Housel.  Why? This is more than a book about money and wealth; it is more than a psychology book; it is as much a philosophy book in the ancient tradition.  “For the Stoics, a true philosopher was not someone who merely held subtle thoughts,…

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[lailoken]

A little picture of me getting together Dark Moon offerings for the Witching Mother of my tradition, including Grave Water, Black Garlic, Belladonna Berries, Storax Resin, and an Egg from one of our hens.