The Digest #44
Time is the Currency of Life
There is virtue in simplicity.
Having a complicated life is often confused with having an interesting life, but often complexity just gets in the way of doing interesting things.
Personal finance is a topic that most people approach with a certain level of apprehension because it is perceived to be complicated. Furthermore, much of what one reads about the topic involves a certain level of unpleasantness. Being told to save more and spend less is, not surprisingly, not a message that most people want to hear!
Normally, referring to a book as a “quick read” isn’t necessarily a compliment. Morgan Housel’s new book, The Psychology of Money, is indeed a quick read, but I mean that as a compliment. Those who are familiar with Housel’s writing know that he has a talent for taking complex subjects and distilling them into articles that are both clear and concise. Now he has done the same in a book that approaches personal finance from the perspective of human psychology.
I’ve not had much time to read lately, but I took the book along on a recent flight. Many of the points Housel makes seem “obvious” to those of us who have a frugal mindset and some background in value investing. But the points he makes are not obvious for the vast majority of people. And he makes the points in a convincing way that’s likely to resonate widely.
I wrote a review of the book this morning which goes into more detail. I highly recommend reading the book!
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Pyrenees Mountains near the border of France and Spain, October 11, 2019