Financial Book Review 3, or Beyond the Numbers
Another look at financial books sent me to purchase and review few. This batch of books focused more on psychology and personal stories rather than the accumulation stage or asset allocation. The Psychology of Money by Morgan Housel Review 3.5/5 I learned such things as 'private pensions weren't actually common', and that while our recessions have lasted longer than in the 1800s and early part of the 1900s, we don't have them as often. Housel does a good job keeping things light - he talks about different ways a person could invest, but the best would be "a book called Shut Up and Wait". He also mentions the difference between getting wealthy versus staying wealthy, which requires a very different skillset. It's a good book if you're not convinced of buy and hold, stay the course, or that saving for retirement is possible or effective at all. He also debunks the notion that active managers consistently beat the market for the amount of time required...