Financial decisions are not always rational and are often influenced by emotions from "summary" of The Concise Psychology of Money by Morgan Housel
The human mind is a complex web of emotions, thoughts, and biases that often dictate our decision-making process, especially when it comes to matters of money. While we like to believe that we are rational beings who make logical choices based on sound reasoning, the reality is quite different. Emotions play a significant role in shaping our financial decisions, often clouding our judgment and leading us astray.
Fear, greed, and overconfidence are just a few of the emotions that can influence how we approach money matters. When faced with a volatile market or economic uncertainty, fear can drive us to make hasty decisions based on panic rather than careful consideration. On the other hand, greed can make us take unnecessary risks in pursuit of higher returns,...
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