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The Psychology of Money

Timeless lessons on wealth, greed, and happiness

By Morgan Housel

Paperback £14.99 / $18.99
eBook £11.49 / $14.49
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The Psychology of Money

Timeless lessons on wealth, greed, and happiness

By Morgan Housel

Jacket text

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.

Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas 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 own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.

In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

About the author

Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism.

Reviews

It’s one of the best and most original finance books in years.

Jason Zweig

Morgan Housel’s new book clarifies – with razor sharp and accessible insight – that building wealth is a mindset problem, not an investment problem. This is the first book any investor should read; in conjunction with a good index fund, becoming wealthy lies within everyone’s grasp.

Tim Hale, Managing Director at Albion Strategic Consulting and author of Smarter Investing: Simpler Decisions for Better Results

Few people write about finance with the graceful clarity of Morgan Housel. The Psychology of Money is an essential read for anyone who wants to make wiser decisions or live a richer life.

Daniel H. Pink, #1 New York Times Bestselling Author of WHEN, TO SELL IS HUMAN, and DRIVE

Morgan Housel is that rare writer who can translate complex concepts into gripping, easy-to-digest narrative. The Psychology of Money is a fast-paced, engaging read that will leave you with both the knowledge to understand why we make bad financial decisions and the tools to make better ones.

Annie Duke, Author, Thinking in Bets

Morgan Housel is one of the brightest new lights among financial writers. He is accessible to everyone wanting to learn more about the psychology of money. I highly recommend this book.

James P. O’Shaughnessy, Author, What Works on Wall Street

The Psychology of Money is bursting with interesting ideas and practical takeaways. Quite simply, it is essential reading for anyone interested in being better with money. Everyone should own a copy.

James Clear, Author, million-copy bestseller Atomic Habits

Housel’s observations often hit the daily double: they say things that haven’t been said before, and they make sense.

Howard Marks, Director and Co-Chairman, Oaktree Capital & Author, The Most Important Thing and Mastering the Market Cycle

The Psychology of Money is bursting with interesting ideas and practical takeaways. Quite simply, it is essential reading for anyone interested in being better with money. Everyone should own a copy.

James Clear, Author of the million-copy bestseller, Atomic Habits

Media coverage

From The Compound:

Morgan Housel is one of the finest investment writers of our generation. His book, out this week, is destined to become a modern classic. Not only will you enjoy breezing through each of these highly enjoyable and critical ideas, but you’re going to love recommending this book to friends, family and young people for years… Read more »

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From Publishers Weekly:

TRADE PAPERBACKS BEST SELLERS – 4. “The Psychology of Money” by Morgan Housel (Harriman House)

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From The Motley Fool:

Finally, Chris chats with Morgan Housel about his new book, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness, which takes a closer look at how people save and invest their money.

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From North Star Podcast:

Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. He’s the author of The Psychology of Money, where he shares 19 stories about the strange ways people think about money and teaches you how to manage it. We talk about why listening… Read more »

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From Seeking Alpha:

Listening to Josh Brown and Morgan Housel discuss Morgan’s new book, “The Psychology of Money” on Josh’s podcast this week was well worth the 30 minutes. Josh talked about bloggers and those bloggers who get too technical and “wonky” with their work (contrasting this with Morgan’s book) and I thought about this weekly S&P 500… Read more »

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From The Economic Times:

Housel, whose latest book The Psychology of Money hit the market on September 8, said access to information is no longer an edge to investors nowadays.

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From BloombergQuint:

BQ Conversations | Morgan Housel talks about his latest book–The Psychology of Money and how investors should view global equities right now. Read more at: https://www.bloombergquint.com/in-the-news/bq-conversations-with-morgan-housel Copyright © BloombergQuint

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From CNBC:

CNBC’s Kelly Evans breaks down the market sell-off with Morgan Housel of the Collaborative Fund and author of “The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness.”

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From Wall Street Journal:

Join The Wall Street Journal’s “Intelligent Investor” columnist, Jason Zweig, as he sits down with Morgan Housel, a blogger and venture capitalist. They’ll discuss Morgan’s new book, “The Psychology of Money,” and answer your questions about how to think about investing.

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From The AlphaMind Podcast:

We chat with Morgan Housel author of the new book ‘The Psychology of Money’, a book described by the Wall Street Journal as “one of the best and most original finance books in years”.

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From David Perell:

I revere Morgan’s writing, and this episode was my chance to finally ask him about how he writes so well. We talk about why listening to loud music helps Morgan think, lessons from his favorite non-fiction writer, and why you should start stories at the moment when you’re being eaten by a bear. We also… Read more »

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From Forbes:

Housel isn’t a perma-bull on the economy — he’s a realist. As an author who just wrote a book titled “The Psychology of Money”, Housel says the big lesson 2020 taught us is to expect surprises. Even given the best-case scenario with a vaccine, Housel sees profound psychological changes that will shape our behavior as… Read more »

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From Masters in Business:

Bloomberg Opinion columnist Barry Ritholtz speaks with Morgan Housel, who is a partner at Collaborative Fund and author of the new book “The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness.” A former columnist at The Motley Fool and The Wall Street Journal, he is also a two-time winner of the Best in… Read more »

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From Think Advisor:

If the initial goal is to get rich, how, then, do you stay rich? There’s only one way: Be guided by a mix of frugality and paranoia, Morgan Housel, financial writer and partner in the Collaborative Fund, tells ThinkAdvisor in an interview. A former columnist for The Wall Street Journal and The Motley Fool, he… Read more »

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From Bloomberg:

Bloomberg Opinion columnist Barry Ritholtz speaks with Morgan Housel, who is a partner at Collaborative Fund and author of the new book “The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness.” A former columnist at The Motley Fool and The Wall Street Journal, he is also a two-time winner of the Best in… Read more »

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From Alex & Books:

In his book, Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics. In this episode, you’ll learn what money can and can’t buy, the difference between being rich and being wealthy, how you 50% of your… Read more »

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From The Pomp Podcast:

Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. He also recently wrote a fantastic book titled, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. In this conversation, we discuss his writing process, what content he consumes, his biggest… Read more »

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From MoneyWeek:

In his latest book, The Psychology of Money, Morgan Housel cites the Stanford professor Scott Sagan, who “once said something everyone who follows the economy or investment markets should hang on their wall: ‘Things that have never happened before happen all the time.’”

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From The Wall Street Journal:

“… it’s one of the best and most original finance books in years.”

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From BullionVault:

To write engagingly about investment is almost impossibly hard, but Morgan Housel makes it look effortless. He has been ably assisted by editor Craig Pearce (with whom we had the pleasure of working on our own contribution to the genre, 2016’s Investing Through the Looking Glass). Not a word idles and the pacing is terrific.… Read more »

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From CNBC:

Personal finance hacks are not easy because shortcuts rarely exist. Rewards take time and effort. The personal finance industry — filled with advice that sounds and feels good, but doesn’t actually move the needle — needs to recognize this.

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Contents

Introduction: The Greatest Show On Earth
1. No One's Crazy
2. Luck & Risk
3. Never Enough
4. Confounding Compounding
5. Getting Wealthy vs. Staying Wealthy
6. Tails, You Win
7. Freedom
8. Man in the Car Paradox
9. Wealth is What You Don't See
10. Save Money
11. Reasonable > Rational
12. Surprise!
13. Room for Error
14. You'll Change
15. Nothing's Free
16. You & Me
17. The Seduction of Pessimism
18. When You'll Believe Anything
19. All Together Now
20. Confessions
Postscript: A Brief History of Why the U.S. Consumer Thinks the Way They Do
Endnotes
Acknowledgements



Published: 08/09/2020
Pages: 256
Formats: paperback - ISBN 9780857197689
ebook - ISBN 9780857197696
Media enquiries

If you’d like to get in touch with the author for interview or comment, or you’d like a review copy of this book, please contact us at pr@harriman-house.com or call +44 (0)1730 233870.

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