Soft skills in investing
Wealth Insight|November 2021
The most interesting takeaways from Morgan Housel’s book ‘The Psychology of Money’
ANAND TANDON

A by-product of a booming equity market is the rush of how-to books that get published, each attempting to assure its reader that the elusive pot of investment gold is there for the taking for anyone who survives reading the next 250 pages of the author’s tome. In that cacophony, it is rare indeed to find a true gem that will likely outlast the current bull run and make it to the list of investment classics you would want on your bookshelf for a long time to come. I refer to Morgan Housel’s ‘The Psychology of Money’. Writer, columnist and partner of Collaborative Fund, Morgan Housel has written a book that displays maturity well beyond his years.

Housel writes about an approach to personal finance that stresses that ‘personal’ is more important than ‘finance’. “Financial success is not a hard science. It’s a soft skill, where how you behave is more important that what you know.” For people who are intimidated with the jargon of investing, this should be music to the ears. Housel calls this “the psychology of money”.

Your personal experience determines your approach to investment

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM WEALTH INSIGHTView All

2022 Top Trends To Profit From

With the pandemic leading to a sea change in the business world, the ability of companies to adapt has emerged as a key success factor

10+ mins read
Wealth Insight
January 2022

Global Investing Through ETFs

Allocating part of your portfolio to ETFs that invest overseas can help diversify better and aid in wealth creation. Here’s why.

2 mins read
Wealth Insight
January 2022

ETFs Or Index Funds: Which Should You Choose?

Both ETFs and index funds are passive products that track an underlying index. We assess the pros and cons of both to help you make the right choice.

2 mins read
Wealth Insight
January 2022

Beating the pros

Successful stock investing doesn’t require access to some special information. However, it does require the right tools and research, which Value Research Stock Advisor provides you.

4 mins read
Wealth Insight
January 2022

Equity asset allocation through ETFs

ETFs can be added to your portfolio to complement the active counterparts and build a diversified portfolio

2 mins read
Wealth Insight
January 2022

Animal spirits

If Indian farmers want to thrive, they should learn from the cat and not act like giant pandas

4 mins read
Wealth Insight
January 2022

‘ESG is a noble investment strategy that scores on performance and morals'

Investing in companies that do well on environmental, social and governance (ESG) standards is a comparatively new theme in the Indian market. We speak with Swarup Mohanty of Mirae Asset Mutual Fund to understand what it offers, how rewarding it can be, and how it has performed in overseas markets.

7 mins read
Wealth Insight
January 2022

‘Investing for your future by investing in the future'

Thematic investing seeks to tap future trends and hence aids in wealth creation, says Swarup Mohanty of Mirae Asset Mutual Fund. We also speak to him about smart-beta ETFs, the newly launched Mirae Asset NYSE FANG+ ETF and how investors should approach ETF investing.

5 mins read
Wealth Insight
January 2022

Tuning in to possibilities

Thanks to cheap data and the growing use of mobile devices, music streaming is becoming popular. This is benefitting the music industry.

2 mins read
Wealth Insight
January 2022

“We should not ask ‘active or passive' but we should seek ‘active and passive'”

With passive funds gaining in popularity, many investors wonder about their role in a portfolio and how much one should invest in them. Many others want to know if active funds, especially the large-cap ones, are still relevant. We speak with Swarup Mohanty to find out the answers to these questions.

4 mins read
Wealth Insight
January 2022
RELATED STORIES

Pivot: Scott Galloway

Super-Apps Are Inevitable Get ready for the first $10 trillion tech company.

6 mins read
New York magazine
November 22 - December 5, 2021

SENATOR ASKS FACEBOOK CEO TO TESTIFY ON INSTAGRAM AND KIDS

The senator leading a probe of Facebook’s Instagram and its impact on young people is asking Facebook CEO Mark Zuckerberg to testify before the panel that has heard farreaching criticisms from a former employee of the company.

3 mins read
Techlife News
Techlife News #521

FACEBOOK PROFITS TOP $10B AS ITS CEO EXALTS THE ‘METAVERSE'

Concerns about a revenue growth slowdown pushed Facebook’s shares lower in afterhours trading Wednesday, not long after the company reported that its second-quarter profits doubled thanks to a massive increase in advertising revenue.

3 mins read
Techlife News
Techlife News #509

SOMETIMES BIGGER IS BETTER

REPUBLICANS AND DEMOCRATS ARE WORKING TOGETHER ON AN ANTITRUST PUSH AGAINST BIG TECH. IT WILL BACKFIRE BIG-TIME.

10+ mins read
Reason magazine
January 2021

Employees fear Mark Zuckerberg's commitment to free speech is more about protecting the president than his company's ideals

In late 2019, during one of Mark Zuckerberg’s many trips to Washington to defend Facebook in front of Congress, he stopped for a private dinner with Donald Trump and offered the president a titillating statistic. “I’d like to congratulate you,” Zuckerberg said. “You’re No. 1 on Facebook.”

10+ mins read
Bloomberg Businessweek
September 21, 2020

One Boy Genius Too Many

Mark Zuckerberg promised Kevin Systrom that Instagram would remain independent from Facebook. That changed as Instagram started to outshine the mother ship A book excerpt by Sarah Frier

10+ mins read
Bloomberg Businessweek
April 13, 2020

20 Predictions For The Next 20 Years

Early presidential polls have tended to be wildly off-target. There’s no reason to think this time is different.

10+ mins read
Fast Company
December/January 2016

Meta, CBSE tie-up: Opportunity to invest in entrepreneurial spirit

META PLATFORMS Inc founder and CEO Mark Zuckerberg on Wednesday announced the expansion of his company's collaboration with Central Board of Secondary Education (CBSE), under which Meta will train 10 lakh teachers and over a crore students in virtual and augmented reality over the next three years.

1 min read
The Indian Express Delhi
December 16, 2021

Excited about India's role in metaverse: Zuckerberg

Meta (formerly Facebook) founder Mark Zuckerberg on Wednesday said India's entrepreneurial spirit and massive scale is fuelling optimism about the future and the opportunities that the country presents.

1 min read
Business Standard
December 16, 2021

What's next for Facebook?

The behemoth social network is on manoeuvres with a serious rebrand. But can it stop the rot caused by scandals and explosive whistleblowers — and what even is the metaverse?

5 mins read
Evening Standard
November 02, 2021