The Psychology of Money

Morgan Housel is a partner at the Collaborative Fund and a former columnist at The Motley Fool. He is also the author of the book The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.

The Psychology of Money is a book about the way that people think about money. It covers topics such as why people save money, why people spend money, and why people invest money. The book also looks at the psychology behind financial decision-making and how emotions can influence our money choices.

Some of the characters in Morgan Housel’s books include:

– Ben Graham: A value investor who taught at Columbia Business School and mentored Warren Buffett.

– Walter Schloss: A value investor who was a protégé of Ben Graham.

– Charlie Munger: A business partner of Warren Buffett and the vice chairman of Berkshire Hathaway.

– Bill Gates: The co-founder of Microsoft and one of the richest people in the world.

In The Psychology of Money, Morgan Housel shares 19 short stories exploring the strange ways our mindsets, emotions, and behaviors shape our relationship with money.

Housel does an excellent job of breaking down some of the most complex psychological concepts related to money and making them digestible for the everyday reader. He covers topics such as the sunk cost fallacy, the endowment effect, and self-control, to name a few.

Overall, Housel’s book provides an insightful and thought-provoking look at the many ways our psychology affects our financial decision-making. If you’re interested in learning more about how your mind influences your money habits, The Psychology of Money is definitely worth a read.