The Psychology of Money
by Morgan Housel · first published 2020
58% recommend42% neutral
Why HN recommends it
A short, story-driven look at the behavior and emotion behind money decisions rather than technical know-how, drawing on history and human nature. Suits beginners, students, and anyone seeking a healthier view of money.
Summarised by Claude from recommending comments
Timeless lessons on wealth, greed, and happiness doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. How to manage money, invest it, and make business decisions are typically considered to involve a lot of mathematical calculations, where data and formulae tell us exactly what to do. But in the real world, people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your unique view of the world, ego, pride, marketing, and
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…Millionaire Fastlane by M.J. DeMarco - Zero to One by Peter Thiel - How to Start a Business Without any Money by Rachel Bridge - Creative Gene by Hideo Kojima - Steve Jobs by Walter Isaacson - The Psychology of Money by Morgan Housel - Show Your Work, Steal Like an Artist by Austin Kleon - Press Reset by Jason Schreier I would say Deep Work and Steve Jobs had the biggest impact on me. Programming I am learning…
on “Ask HN: What is the best thing you read in 2022?” ↗The Psychology of Money by Morgan Housel was published just a few months ago. 20 short stories about money, how to think about saving vs investing, risk and leverage, time in the market vs absolute returns.
on “Ask HN: What is the best book you read in 2020?” ↗Psychology of Money, Morgan Housel Let Your Life Speak, Parker Palmer The Beginning of Infinity, David Deutsch A Philosophy of Software Design, John Ousterhout
on “Ask HN: Books you read in 2023 and recommend for 2024” ↗I think even more important to learn is how we "act" about money. Kids need to learn the psychology of money/finance as much as the knowledge about it. Just finished Morgan Housel's "Psychology of Money" and it should be required curriculum (every year) for high school and especially college students. When my…
on “Ask HN: Why isn’t finance a part of the core curriculum at schools?” ↗Agree. The psychology of money (https://www.amzn.com/0857197681) is a take on personal finance through the lens of history and human behavior, quite different from the usual in this genre. I found the postscript absolutely fascinating:…
on “Ask HN: What is the best book you read in 2020?” ↗Besides learning about "investing", I would also recommend you take a step back and look at your relationship with money generally. I recommend The Psychology of Money by Morgan Housel as a good start: > Timeless lessons on wealth, greed, and happiness doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach,…
on “Ask HN: How to start learning about investments?” ↗The Psychology of Money by Morgan Housel is a truly exceptional and balanced view on life/money and the emotional challenge of making and keeping money. It’s surprisingly insightful/original/authentic.
on “Ask HN: What book changed your life?” ↗There’s a great reference to this concept in The Psychology of Money by Morgan Housel
on “Why Pessimism Sounds Smart” ↗…Economics major. With a keen lifetime interest in finance. Here are some shiny gems in this space. Economics Foundation: Basic Economics, Thomas Sowell - https://www.tsowell.com Personal Finance: The Psychology of Money, Morgan Housel - https://www.amazon.com/Psychology-Money-Timeless-Lessons-Hap... The Millionaire Next Door, Thomas Stanley - https://www.amazon.com/The-Millionaire-Next-Door-audiobook/d... Building…
on “Ask HN: Reliable/Reputable sources on personal financial literacy and economics” ↗…pick, even for very professional investors, it's hard, extremely hard to beat the market. Just buy the S&P 500 ETF and let it work in the background. Also, those new to investing, Morgan Housel's The Psychology of Money is a great read!
on “Are tech stocks now good value?” ↗See also The Psychology of Money by Morgan Housel: * https://www.goodreads.com/book/show/41881472-the-psychology-... * one of many interviews: https://rationalreminder.ca/podcast/128 And the current results from an on-going 80+ year…
on “If Money Doesn't Make You Happy Then You Probably Aren't Spending It Right [pdf]” ↗Psychology of Money by Morgan Housel. Timeless advice on money and life management
on “Ask HN: What nonfiction books do you keep rereading?” ↗Morgan Housel hits this nail on the head in "The Psychology of Money", by talking about these "touchy-feely" aspects of money (which are routinely tossed aside in quantitative analyses... because they're not quantifiable). It really does come down to "we know what we…
on “Is "Rich Dad Poor Dad" a Fraud?” ↗Warren Buffett has predicted that we’ll suffer a “hair curler” some time in the next 20 years. For those that like to prepare, Morgan Housel has an excellent book called ‘The Psychology of Money’.
on “The Day Wall Street Was Silent (1979)” ↗You'd probably get a kick out of reading The Psychology of Money by Morgan Housel.
on “Not caring enough about money?” ↗