Recently I reread a book called The Psychology of Money by Morgan Housel. I first heard about it on a podcast. I listen to podcasts frequently and noticed that this book kept coming up when the interviews were asked to name a few books they recently enjoyed. After hearing it mentioned a few times, I decided to buy the book. I read it once; and then, I read it again. There are too many good points in the book to put them all in this article, but I thought I would share a few that I found valuable.
The premise of the book is that doing well with money has little to do with how smart a person is and a lot to do with how they behave. The world of investing is full of intelligent people, but not many truly great investors. Investing is more about the heart than the mind, as one investor I admire put it; therefore, being smart is nothing more than being athletic. Athleticism doesn’t assure one will become a professional athlete; far from it.
...WIND ADVISORY REMAINS IN EFFECT UNTIL 1 PM CDT MONDAY...
...FREEZE WARNING REMAINS IN EFFECT FROM 10 PM MONDAY TO 10 AM CDT
TUESDAY...
* WHAT...For the Wind Advisory, southwest winds 15 to 25 mph with
gusts up to 40 mph expected. For the Freeze Warning, sub-freezing
temperatures as low as 20 expected.
* WHERE...A portion of central Alabama.
* WHEN...For the Wind Advisory, until 1 PM CDT Monday. For the
Freeze Warning, from 10 PM Monday to 10 AM CDT Tuesday.
* IMPACTS...Gusty winds will blow around unsecured objects. Trees
could be blown down and a few power outages may result. Frost and
freeze conditions could kill crops, other sensitive vegetation and
possibly damage unprotected outdoor plumbing.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Winds this strong can make driving difficult, especially for high
profile vehicles. Use extra caution.
Secure outdoor objects.
Take steps now to protect tender plants from the cold.
To prevent freezing and possible bursting of pipes they should be
wrapped, drained, or allowed to drip slowly.
&&
...WIND ADVISORY REMAINS IN EFFECT UNTIL 1 PM CDT MONDAY...
...FREEZE WARNING REMAINS IN EFFECT FROM 10 PM MONDAY TO 10 AM CDT
TUESDAY...
* WHAT...For the Wind Advisory, southwest winds 15 to 25 mph with
gusts up to 40 mph expected. For the Freeze Warning, sub-freezing
temperatures as low as 20 expected.
* WHERE...A portion of central Alabama.
* WHEN...For the Wind Advisory, until 1 PM CDT Monday. For the
Freeze Warning, from 10 PM Monday to 10 AM CDT Tuesday.
* IMPACTS...Gusty winds will blow around unsecured objects. Trees
could be blown down and a few power outages may result. Frost and
freeze conditions could kill crops, other sensitive vegetation and
possibly damage unprotected outdoor plumbing.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Winds this strong can make driving difficult, especially for high
profile vehicles. Use extra caution.
Secure outdoor objects.
Take steps now to protect tender plants from the cold.
To prevent freezing and possible bursting of pipes they should be
wrapped, drained, or allowed to drip slowly.
&&
