When you become a millionaire : INVESTMENT

The money game by Adam Smith (pseudonym of George Goodman), first published in 1968, is a timeless classic about investment and human behavior.

It’s a fun book where the author shares his insight into the irrationality with which most of us make our investment decisions. It also shakes up common myths and misconceptions, reveals why nothing works all the time, and shows how greed and fear fuel the market.

While reading the book again, I came across this passage describing the dangers of trying to make lots of money in order to achieve some degree of happiness and peace in our lives. It’s just as relevant today as it was when the book was written more than 50 years ago.

It was my destiny to know people who made considerable amounts of money, sometimes millions, in the market.

[One of them] had a very good point when he said The ultimate goal of investing should be serenity.

Now If you believe a million dollars will bring you serenity, there are two things you can do. One is to find a good chief medical officer and see if you can figure out why a million dollars gives you that serenity. To do this, you need to lie on a couch, remember dreams, talk about your mother and pay forty dollars an hour.

If your course is successful, you will find that you don’t want a million dollars, but something else that represents the million dollars for you, like love, potency, mother, or whatever you have.

When released, you can go about your business and worry no more and you will get poorer just by the number of hours you spent reaching that forty dollar time.

The other thing you can do is make the millions of dollars and be calm. Then you both have a million dollars and Serenity, and you don’t have to subtract the number of hours times forty dollars unless you feel guilty about making it.

It seems simple and there is actually a catch.

What do you do with the million dollars that arrive and serenity not?

Aha you say you will worry about it when you get to it you are sure you can handle it. Maybe you can.

Contrary to popular myth, money helps people more than it spoils them, simply because it opens up more opportunities.

The The danger is that when you have your million then you want two because you have a button that says I’m a millionaire and that’s who you are and all of a sudden, as you will find out, there are so many people with buttons that say I’m a double millionaire.

The core idea of ​​Mr. Goodman’s book is that gambling is about the players, not the rules or the characteristics of the board. And so, how we play the game is far more important than how the game is stacked.

Some books never lose their relevance, no matter how old they are. The money game Is one of them.

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Here are some things that I thought were worth sharing with you:

  • Spam filter of an investor (Anand Sridharan)
  • Risk and return on the stock exchange are not evenly distributed (Ben Carlson)
  • Prepare your mind for uncertain times (The Atlantic)
  • My son is looking for answers in me – and I no longer have them (Uri Friedman)
  • Your financial portfolio and Japanese principles (capital)

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That’s it for me for today.

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