Morgan Housel
The more extreme the outcome, the less likely you can apply its lessons to your own life, because the more likely the outcome was influenced by extreme ends of luck or risk.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
The more extreme the outcome, the less likely you can apply its lessons to your own life, because the more likely the outcome was influenced by extreme ends of luck or risk.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
A Harvard psychologist once asked Amos Tversky why he became a psychologist. “It’s hard to know how people select a course in life,” he said. “The big choices we make are practically random. The small choices tell us more about who we are. Which field we go into may depend on which high school teacher we happen to meet. Who we marry may depend on w... See more
SIX at 6: The Seemingly Frivolous, Reading A Tongue, Experiencing A Spoon, Authenticating Paintings, The Systematic Choices, and Great Revelations
“What do you want to know about investing that we can’t know?” “The exact role of luck in successful outcomes,” he answered.