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Cover of The Psychology of Money by Morgan Housel

The Psychology of Money

Morgan Housel · 2020

Nineteen short stories proving that financial success is more about temperament than intellect. The gap between good and bad outcomes is almost entirely behavioral. Housel argues you need to know yourself before you can know the market, and that getting wealthy and staying wealthy are completely different skills. The decade's defining finance book, born from a blog post that wouldn't stop spreading.

The case against

Housel's nineteen chapters make one point apiece, and several make the same one: luck matters, tails drive everything, staying rich differs from getting rich. Each lesson arrives via the identical move, a counterintuitive anecdote followed by a tidy moral, until the book feels like a blog's greatest hits, which is what it is. Useful, breezy, and gone from memory in a week.

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