This video was impressed by Morgan Housel’s superb ebook “The Psychology of Cash”
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📕The Psychology of Cash
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What’s The Psychology of Cash about?
It’s possible you’ll consider cash as simply numbers, spreadsheets, math or an equation that must be solved, however the true monetary selections are made away removed from calculators, round dinner tables – with ego, delight, concern and private historical past.
The true nature of cash is the dance between the chilly arithmetic of a spreadsheet and human nature.
On the subject of cash we’re difficult creatures and monetary success is just not a lot about how a lot you understand however the way you behave.
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Thoughts Lure decks
(TIMESTAMPS)
(00:00) Monetary DNA (You aren’t Loopy)
(02:51) Compound Kings (Buffett’s soiled little secret)
(05:56) Pessimism & Cash
(07:40) Two Forgotten Components (A narrative)
(10:18) The Key to Happiness
(11:21) Tail Occasions
(15:02) Past Bling (True Wealth VS Being Wealthy)
(16:30) The Actual Worth
(19:13) Hedonic Treadmills (sufficient?)
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Hedge fund managers are thieves
Buffet owned a insurance company which are required to have large capital reserves and buffet invested those reserves to start his funds
Next Video: Zero to One by Peter Theil
Into the new year and beyond,the path to financial breakthrough often lies in the realm of smart investments. In a dynamic landscape of today's economy ,where stocks seem to consistently reflect both opportunities and challenges,the importance of strategic financial planning cannot be overstated.
Recently, I had the pleasure of engaging in enlightening discussions about investment with a seasoned financial adviser, David Marvin Wills,His insights and expertise have illuminated the intricate world of investments, sparking a new found enthusiasm for navigating the market intelligently.
In this era where economic imbalances persist, embracing investment as the new normal becomes a pivotal strategy for building and fortifying ones finances. The stock market, despite its fluctuation, holds the potential for substantial gains when approached with knowledge and foresight.
So, let raise our glasses to the exciting journey of financial growth and empowerment in the coming years .With the right guidance and a well informed approach to investment, we can navigate the economic landscape and turn challenges into opportunities for lasting prosperity cheers to a future filled with financial success and wise investment decision!
thank you
Thank you, money is just like 💸
"buffet would only be worth $11 million" instead of the $85 billion. Cool. So basically not enjoying life was worth it. /s
Yes! He is back!
Good content, nice speech, great presenter!
I have a question. Can anyone answer?
He said in between that Wareen buffet made all his wealth after 65 years of age. And later on in happiness section he said, If you cannot have control over your time and cant enjoy fruit of your labor (meaning can enjoy your time from money) then its of no use. So, my question is: Do Warren Buffet didnt enjoyed his time? He just made a wealth after 65 years of age and still earning, so he is not using the fruits of his labor?
me:
btc brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to take risks. Saving is great but taking risks puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to Queridafx, my portolio is doing really great and im proud of the decisions i made last year.
I want to invest $700k in profit-yielding stock but am not sure which to buy into . I'm curious about the best strategies for potential market downturns
this is beautifully made!
Now this is good no bullshit advice just all helpful stuff priceless video
People doesnt seem to understand that inflation and a crashed market can be really good. You could also short the market.
We shoud learn that at school.
What is the app you use for creating the graphics?
How many "young men in their 20s are traveling and buying nice cars"? That statement is long expired, like the American dream.
What colour is your bughatti
Thank you so much for the work
"diversified portfolio" is only after you get wealthy.
The vast majority of people who are "rich" got there by focusing on one avenue and THEN branching out.
Go deeper. What is money? And why is bitcoin the best money?
This is a great book for the people who have never learned about finance like me.
Like better than Rich dad poor dad.
I don't agree with The Real Price when it comes to comparing it to the stock market. Typically the current price gives you the best probability of making money but not the best reward. and things that are discounted tend to be more risky in probability but the reward is much bigger balancing the risk over a period of time.
00
💰 Money is a complex dance between numbers and human nature, influenced by our personal experiences and behaviors.
00:09
Financial decisions are influenced by ego, pride, fear, and personal history.
Financial success is more about behavior than knowledge.
Different generations and experiences shape our attitudes towards money.
💰 Warren Buffett's financial success is attributed to his early financial base, longevity in investing, and the power of compounding.
04:14
Warren Buffet's net worth today would be around $11.9 million if he had used his early income on traveling and cars instead of investing.
Jim Simons has achieved a much higher average return than Buffet at 66% annually since 1988, but his net worth is 75% less.
Simons' inability to find his stride in investing is the reason for his lower net worth compared to Buffett.
! Bill Gates and Paul Allen's success with Microsoft was influenced by a rare stroke of luck and the tragic death of a potential co-founder, Kent Evans.
08:26
Bill Gates and Paul Allen's success with Microsoft was influenced by a rare stroke of luck and the tragic death of a potential co-founder, Kent Evans.
The absence of Lakeside school in Gates' life may have prevented the creation of Microsoft.
Kent Evans, an equally talented and visionary individual, could have been one of the founders of Microsoft but died in a mountaineering accident.
💼 Venture capital and business success rely on a few outlier products or investments that make up for losses.
12:40
Venture capital funds rely on a few successful startups to make up for the majority of failed investments.
Amazon's success is driven by outlier products like Amazon Prime and Amazon Web Services.
Jeff Bezos embraces failure and understands that it is necessary to create successful tail event products.
⛰ Investing in the stock market is like climbing a mountain with uncertainty and risk.
16:44
The difficulty of the stock market is not always apparent until you're in the thick of it.
Investing in the stock market requires accepting uncertainty and risk as the price to pay for potential rewards.
The stock market is like buying a new car – higher price, but greater potential reward.
I would like to know what tools were used to make the edits and images in the video, if anyone can help I would appreciate it
ㄹㅇㅓㅣㅋㅛ
I've read better books, but yeah just be grateful about what you have is the best lesson from this book.
What is claude speed doing in the thumbnail😂
Great, needs more of a dialectic materialism perspective tho 😉
You gave an example of Warren Buffett, that if he had enjoyed in his 30's traveling around the world buying luxury caers, he wouldn't be a billionaire today,
My question is what is he can do with all that money, can he drive a luxury car at 200mph?(probably he would get a heart attack)
Can he travel and explore the world? (Im 💯 sure he carries a luggage of medicine with him)💀
I read somewhere, he still lives in his 1960's house, and drive an old car.
So what's he gonna do all his money or title "Best investor of all time"? Is going to take that in his grave? No,
Then why..?
If he made his first million in his 30's it's worth 10 million today, he should've slow down there and enjoy the life and travel the world,
Bro lost at very high cost 😊
Invest without bias. Ask yourself, what would Mr. Spock do?
Hey… grew up poor, started investing in 2014 (august). 1000 euros, every month I also put in 100 euros extra. 3 years later I had 22k. I also studied some finance in my free time for a short while until I met my FA. I hit the million mark in 2019 with her help, and went over it some. Then due to a little bit of bad luck and a lot of bad decisions, I lost everything. So yes, you can become a millionaire by investing, however I also know I was pretty lucky to meet the right FA at the right time. What you said about getting addicted rung a bell with me. I didn't even know how much I was making at the time, and found out the numbers after I lost it all. Won't be that stupid again. Every day I try to save and invest, free time; invest, was on the market from the Nikkei open to the US close. Money can come quickly, but remember it can leave quickly as well. On my way to a million again.
Very very cool🤠
Version Language Indonesia?
his secret is his a zionist jew, and they are well connected, don't compare an average person with WB
So you mean… Donald Trump was right when he walked past that homeless Guy on the street and said; "You're wealthier than I am…"?
Why is it wrong to be a hoarder of objects but hoarding money is celebrated
I would have to say the number one factor in becoming wealthy is the physical act of transferring money from your checking account into an index fund.
It’s the most mind blowing concept but no matter how wealthy I’ve become, and then tell my family, it’s as if there needs to be something more than what I said and it can’t be true or that stocks will crash and I’ll lose everything. At 33 I have 205k and am on track to hit 300k by 2025 and all I do is invest in the s and p 500 and live below my means.
As an Investing enthusiast, I often wonder how top level investors are able to become millionaires off investing.. I've been sitting on over $545K equity from a home sale and I'm not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
Thanks!
I enjoyed every minute of your video and I have learnt a lot in just 20 mins thanks ❤
if return by interest can be compounded, inflation or debasement of money is also compounded as time progress no?
I lost over $70K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $9k profits weekly. Thanks so much Willem strategy
well made vid. like ur voice👍