Book Review - The Psychology of Money (Morgan Housel)
![](
I bought and read this because it was a bestseller in the economics section at Kyobo Bookstore.
The thing about these kinds of books is that they say very obvious things.
For example, don't be too optimistic or too pessimistic.
Of course, we often make those obvious mistakes as we go through life.
That's probably why this book became a bestseller.
So personally, the lessons from this book didn't hit me that hard,
but one line resonated deeply:
"Every financial decision is valid for the person making the judgment in that moment."
The point was that when people buy and sell things, they make decisions based on their own criteria.
Sometimes people say things like "You shouldn't have bought at that time~"
or "Why did you buy at the peak?" or
"Why are you trying to enter a market with no future?"
I hear these things often.
But then, what's the standard for judging whether that person's decision was right or wrong?
This is where the author, Morgan Housel, says the judgment was based on deeply personal experiences.
The conclusion I want to make is this:
Remember that the pessimistic attitudes of people around you are not meant for you.
In that sense, this book made me rethink decision-making, which makes it a good book.
However, it's not one I'd strongly recommend because it didn't provide insights worth the time invested.