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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
Hardback £22.00 / $27.00
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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.

Psychology of Money Trailer from Harriman House on Vimeo.

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 Yahoo Finance News:

This week, Tracey is going solo to talk about the hottest new investing book in 2021. It’s Morgan Housel’s “The Psychology of Money”. Have you read it? No, it’s not a book on “stock investing.” The tag line describes it as “Timeless lessons on wealth, greed and happiness.” But the “lessons” are meant to get… Read more »

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From Fintech Zoom:

“The Psychology of Money” by Morgan Housel helped me work through some of the mental aspects of money management that I didn’t have a handle on. Here’s what stood out to me the most.

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From What Investment:

In his 2020 book The Psychology of Money, Morgan Housel dedicates an entire chapter to the difference between being ‘rich’ and being ‘wealthy’. We all fall victim to using the terms interchangeably, but Housel reminds us that ‘rich’ merely refers to your current income and that, “wealth is hidden. It’s income not spent…its value lies… Read more »

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From The Motley Fool:

In this episode of Motley Fool Answers, host Alison Southwick and Personal Finance Expert Robert Brokamp are joined once again by Morgan Housel to discuss the most important lessons from his book, The Psychology of Money, and how they’ve impacted the way he manages his family’s finances. Plus, you get to hear the backstories of… Read more »

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From Business Insider:

I’ve always been interested in learning how to shift my money mindset and examine the relationship between money and mental health, so when I heard about the book “The Psychology of Money” by Morgan Housel, I devoured it. The book is broken up nicely into tangible lessons you can apply to your own finances. For… Read more »

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From Communities Digital News:

Should we ride the waves and pray for random fortune or retreat to safe harbors to preserve what we have? The answer to that question (and a few others) depends on how you think about money, Morgan Housel explains in his book, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness (Harriman House,… Read more »

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From Opto:

Regardless of your wealth, status or job, Morgan Housel, author of The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness, thinks it’s important to take an active interest in investing.

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From Entrepreneur Europe:

In The Psychology of Money, Morgan Housel discusses the mental game of investing. Through a series of short stories, Housel explores how your background, worldview, ego and pride — not to mention marketing techniques and hidden incentives — influence the financial decisions you make over a lifetime. If you’re an entrepreneur who is used to… Read more »

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From Forbes:

I’ve got some good news. You’re not crazy. That’s the message of one of my favorite books of 2020, “The Psychology of Money,” written by Morgan Housel and inspired by a popular blog post he wrote in 2018. It’s a compelling read and the book offers many great lessons, but I thought this particular encouragement… Read more »

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From CNBC:

This is a must-read book for anyone hoping to achieve financial independence. People make investment decisions based more on their personality, behavioral traits, and the circumstances under which they grew up than on excel sheets.

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From The Motley Fool:

This isn’t the first time that Americans have faced difficult times. As my former Motley Fool colleague and best-selling author Morgan Housel wrote last year, we’ve always found a way to overcome our deepest difficulties. Citing a Depression-era diarist and his experiences of arguably the most economically devastating era in U.S. history, Housel’s lesson was… Read more »

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From The Straits Times:

“The number of things that are true for everyone in finance is small; everything else is just figuring out how much risk you want to take and what you want out of life, which is different for everyone,” said Mr Morgan Housel, author of The Psychology Of Money.

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From CNBC:

If you want to try your hand at investing, you can simulate stock trading through the SIFMA Foundation’s stock market game or go through the paces on the London Stock Exchange’s fantasy game. For those who prefer reading a book, Bloom recommends “The Psychology of Money,” by Morgan Housel.

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From Business Insider:

Thankfully, there are many, many ways to acquire money and assets if you’re willing to take reasonable risks, writes Morgan Housel in his new book, “The Psychology of Money.”

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From Business Insider:

Warren Buffett is one of the richest people on the planet. People absorb his advice and analyze his investment decisions to no end, attempting to replicate even a fraction of his success. But according to Morgan Housel, author of the new book “The Psychology of Money,” there’s an unmistakable driver of the legendary investor’s wealth… Read more »

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From ValueWalk:

This easy yet impactful read reminds us that while the world of finance, investing, and business are often considered math- and logic-based, in real life it isn’t that simple. People’s biases, personal experiences, emotions, and circumstances all play a major part in their everyday financial decisions.

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From Farnoosh:

Mastering money has little to do with math. Instead, behavior is the most important side of investing, says today’s guest Morgan Housel, author of the top-selling book The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. We discuss many of his insights including the underestimated power of luck and risk, how the only… Read more »

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From Seeking Alpha:

Housel’s book is exceptionally well written, using stories and personal experiences to explore the strange ways people think about money, demonstrating that they are not economically rational. Instead, they are psychologically rational. Through his stories, he teaches us how to make better sense of many important issues, including how to think about saving, spending and… Read more »

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From Advisor Perspectives:

In a fascinating little book, The Psychology of Money, the investment manager Morgan Housel provides more useful self-help advice than most authors who explicitly set out to do so.

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From Deadline:

Cavalry Media recently optioned the rights to Morgan Housel’s recently published International Bestseller, The Psychology of Money: Timeless lessons on wealth, greed, and happiness from Harriman House publishers.

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From Think Advisor:

It’s very readable and is jam packed with cogent insights that can help your clients become better investors. Housel’s wisdom also can help you frame your discussions with clients for years to come.

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From Bloomberg:

“The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness” by Morgan Housel. It is the rare personal finance book that is being turned into a movie.

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From Kiplinger :

Housel’s book lays out the 20 “flaws, biases, and causes of bad behavior” that people have concerning money, and how these flaws can lead to bad financial outcomes. Beginning investors shouldn’t think of this as a recipe for how to invest, but a means of sticking with whatever recipe you use to invest.

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From Take The Long View:

Morgan Housel on the Take The Long View podcast yesterday, sharing insights from his book The Psychology of Money, more into his own investing strategies, and event that shaped his outlook on risk.

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From Opto Sessions Podcast:

Author and financial expert Morgan Housel has many strings to his bow. A partner at the Collaborative Fund — with more than $300m in assets under management — Housel built a reputation in the world of finance during his time as an economist writing for the likes of The Wall Street Journal and the Motley… Read more »

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From City A.M.:

Morgan Housel’s highly anticipated new book, The Psychology of Money, opens with a quote from Arthur Conan Doyle’s Sherlock Holmes: “The world is full of obvious things which nobody by any chance ever observes.” It is a fitting introduction to a work from the Sherlock Holmes of financial writing. Like the famous fictional detective, Housel… Read more »

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From Wall Street Journal:

I listen to a lot of audiobooks. I’ve been listening to one that’s really incredible, The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness, by Morgan Housel.

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From Tacoma Daily Index:

Morgan Housel emphasizes in his book that the best investment is not the one that promises profit, or security or even financial independence; the best investment is the one that helps you sleep at night.

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From MoneyTalk News:

Morgan Housel has a new book, “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.” In the book, Housel describes why doing well with money isn’t necessarily about what you know.

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From Deadline:

Cavalry Media has optioned the rights to Morgan Housel’s recently published International Bestseller, The Psychology of Money: Timeless lessons on wealth, greed, and happiness from Harriman House publishers.

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From Strictly Value:

I you’re looking for wisdom on personal finance and life in general, this bookis for you! I like the title, I like the content, I like the author.

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From Express News:

Earlier this month, the best living writer on personal finance published his first book… Morgan Housel wrote “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.” Of course, I had preordered it from Amazon — and, yeah, you should read it. If you’ve already read dozens of personal finance books (I have!), then… Read more »

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From The New York Times:

He shows how you can avoid sabotaging yourself as you try to achieve your plan.

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From India Infoline News Service:

I just finished reading Morgan Housel’s The Psychology of Money, a wonderful book on investing. Reading it will not make you identify the next Apple, but will make you a better investor. Oxymoron? The book explains in detail the role of human biases in investment decisions. The rational economic man exists only in spreadsheets and… Read more »

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From Forbes:

The Wall Street Journal recently ran an article that asked, “Do You Know the Difference Between Being Rich and Being Wealthy?” The piece focuses on a new book by Morgan Housel called The Psychology of Money. This article brought me back to years ago when I read The Millionaire Next Door by Thomas Stanley and… Read more »

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From Seeking Alpha:

I am really enjoying reading Morgan Housel’s thoughts on money. The quote that struck me this week is from an interview he gave in a press tour for his new book, “The Psychology of Money”. Reilly’s rules – Keep your emotions in check. Behavior is the most important side of investing. You can be the… Read more »

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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 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 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 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 The Big Picture:

This week, we speak with Morgan Housel, former writer for Motley Fool and WSJ, and partner at Collaborative Funds. His new book, The Psychology of Money: Timeless lessons on wealth, greed, and happiness, will be out September 8th. Housel describes the early part of his career — a downhill ski racer in high school, he… 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



Rights

The following language rights for The Psychology of Money have been sold:

  • Albanian
  • Arabic
  • Brazilian (Portuguese)
  • Bulgarian
  • Complex Chinese
  • Croatian
  • Dutch
  • Estonian
  • French
  • German
  • Gujarati
  • Hindi
  • Indian English language reprint
  • Italian
  • Indonesian
  • Japanese
  • Kannada
  • Korean
  • Lithuanian
  • Malayalam
  • Marathi
  • Mongolian
  • Polish
  • Portuguese
  • Romanian
  • Russian
  • Serbian
  • Simplified Chinese
  • Slovak
  • Spanish
  • Swedish
  • Tamil
  • Telugu
  • Thai
  • Turkish
  • Ukranian
  • Vietnamese

Other language rights are currently available although many are already under discussion or offers have been made. If you would like to enquire about rights please contact Charlotte at rights@harriman-house.com

The TV & film rights have been optioned by Cavalry Media

Published: 08/09/2020
Edition: 1st
Pages: 256
Formats: paperback - ISBN 9780857197689
ebook - ISBN 9780857197696
hardback - ISBN 9780857199096
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.

Rights

For information on available rights, please contact rights@harriman-house.com

Bulk purchases

We offer discounts for bulk purchases. Please contact specialsales@harriman-house.com for a quote.