Dit weekend las ik een fascinerend boek over de psychologie van geld.
Hieronder een aantal quotes die ik noteerde. Of beter gezegd knipte en plakte 😃
Zitten voor mij een aantal eye openers bij.


Ik was net opzoek naar een rationalisatie voor mezelf van stijgende of dalende koersen en dan lees ik dit :

Dalingen zijn je (Disneyland) ticket tot je rendement

“Disneyland tickets cost $ 100. But you get an awesome day with your kids you’ll never forget. Last year more than 18 million people thought that fee was worth paying. Few felt the $ 100 was a punishment or a fine. The worthwhile tradeoff of fees is obvious when it’s clear you’re paying one. Same with investing, where volatility is almost always a fee, not a fine. Market returns are never free and never will be. They demand you pay a price, like any other product. You’re not forced to pay this fee, just like you’re not forced to go to Disneyland. You can go to the local county fair where tickets might be $ 10, or stay home for free. You might still have a good time. But you’ll usually get what you pay for. Same with markets. The volatility/ uncertainty fee—the price of returns—is the cost of admission to get returns greater than low-fee parks like cash and bonds. The trick is convincing yourself that the market’s fee is worth it. That’s the only way to properly deal with volatility and uncertainty—not just putting up with it, but realizing that it’s an admission fee worth paying. There’s no guarantee that it will be. Sometimes it rains at Disneyland. But if you view the admission fee as a fine, you’ll never enjoy the magic. Find the price, then pay it.”

Altijd Gezonken kosten

“continued, “he said the words I’ve never forgotten: ‘I have no sunk costs.’” 49 Sunk costs—anchoring decisions to past efforts that can’t be refunded—are a devil in a world where people change over time. They make our future selves prisoners to our past, different, selves. It’s the equivalent of a stranger making major life decisions for you. Embracing the idea that financial goals made when you were a different person should be abandoned without mercy versus put on life support and dragged on can be a good strategy to minimize future regret. The quicker it’s done, the sooner you can get back to compounding. Next, let’s talk about compounding’s price of admission.”


Vrijheid is je echte rendement

“To repeat a point we’ve made a few times in this book: The ability to do what you want, when you want, for as long as you want, has an infinite ROI.”


Over risico

“Nassim Taleb says, “You can be risk loving and yet completely averse to ruin.” And indeed, you should.”


Van je fouten kun je leren dat verrassingen er altijd opnieuw zullen zijn..

“At a 2017 dinner I attended in New York, Daniel Kahneman was asked how investors should respond when our forecasts are wrong. He said: Whenever we are surprised by something, even if we admit that we made a mistake, we say, ‘Oh I’ll never make that mistake again.’ But, in fact, what you should learn when you make a mistake because you did not anticipate something is that the world is difficult to anticipate. That’s the correct lesson to learn from surprises: that the world is surprising. The correct lesson to learn from surprises is that the world is surprising. Not that we should use past surprises as a guide to future boundaries; that we should use past surprises as an admission that we have no idea what might happen next.”



— The Psychology of Money: Timeless lessons on wealth, greed, and happiness door Morgan Housel
https://a.co/55wVvPo

#investing 

The Psychology of Money: Timeless lessons on wealth, greed, and happiness


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