The psychology of Money in English

Room for Error
Some of the best examples of smart financial behavior can be found in an
unlikely place: Las Vegas casinos.
Not among all players, of course. But a tiny group of blackjack players who
practice card counting can teach ordinary people something
extraordinarily
important about managing money: the importance of room for error.

To understand the psychology of the modern consumer and to grasp where
they might be heading next, you have to know how they got here.
How we all got here.
If you fell asleep in 1945 and woke up in 2020 you would not recognize the
world around you.

Confessions
Sandy Gottesman, a billionaire investor who founded the consulting group
First Manhattan, is said to ask one question when interviewing candidates
for his investment team: “What do you own, and why?”
Not, “What stocks do you think are cheap?” or “What economy is about to
have a recession?”
Just show me what you do with your own money.

All Together Now
Congratulations, you’re still reading.
It’s time to tie together a few things we’ve learned.
This chapter is a bit of a summary; a few short and actionable lessons that
can help you make better financial decisions.
First, let me tell you a story about a dentist appointment gone horribly
awry.

When you'll Believe Anything
Imagine an alien dispatched to Earth. His job is to keep tabs on our
economy.
He circles above New York City, trying to size up the economy and how it
changed between 2007 and 2009.