The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Behavioral insights on how people actually think about money and wealth
"The first rule of compounding: Never interrupt it unnecessarily."
— Morgan Housel
My Review
Housel's behavioral finance insights connect directly to survival strategies. His emphasis on survival over optimization, compounding, and tail-event thinking maps to biological concepts of hibernation reserves and long-term strategy.
Why It Matters
Housel connects financial behavior to deeper psychological patterns that have biological roots. His emphasis on survival, reserves, and long-term thinking aligns with biological survival strategies.
Key Ideas
- Survival is the prerequisite for compounding
- Tail events drive most outcomes
- Enough: knowing when to stop
- Room for error is essential
How It Connects to This Framework
Book 2's hibernation and reserve strategies draw on Housel's survival-first thinking. The emphasis on tail events connects to Black Swan concepts.
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The full Biology of Business book explores these concepts in depth with practical frameworks.