@chambershoops @TJ_NoZer0Days Hope you enjoy it 📚

Raise Your Game: High-Performance Secrets from the Best of the Best 🏆

10 Powerful Lessons From The Book "101 Essays that will Change the way You Think"

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1. More Is Not Better✅

Happiness is not about experiencing more of something.

It's about experiencing what you love in new and interesting ways.

2. Embrace Fear✅

You assume happiness is good, and fear is bad.

Fear is an indicator that you're doing something worthwhile.

Change your story around fear. Bad feelings are not always bad.

3. Seek New Experiences✅

It's difficult to change your beliefs through thought alone.

Seek new and novel experiences that make new beliefs real to you.

4. Problems Are Pathways✅

You view problems as roadblocks to your success. Truth is, they're pathways.

"What stands in the way becomes the way."
- Marcus Aurelius

20 Timeless Financial Lessons from the book:

"THE PSYCHOLOGY OF MONEY"

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1. Our current relationships with money are based on our past experiences & We should avoid living in that illusion.

2. One can be wealthy without superior intelligence of financial education. You just need right behavioral skills.

3. Both luck & risk are an integral part of finance.

You can make good decisions that lead to poor financial outcomes vice-versa.

4. Saying “enough” is realizing that an appetite for more will push you to the point of regret.

5. Financial success is less of a science & more of a soft skill.

6. Buying impressive items to gain admiration & respect from others is a fool’s pursuit~ These things can not be bought.

7. Don’t move your goalpost to suit your current needs.

Once you have more money & power. It's easy to get lost in ambition so stick to your goal.

8. There are certain things which are never worth taking a risk like Character, Family, Friends & Freedom, Happiness.

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My takeaways from the best seller
#ThePsychologyOfMoney by @morganhousel

It beautifully encapsulates , via chapters , the most under rated factor in investing - The Psychological aspect of it .

Do read the book :)
#BookRecommendations
#booklovers

2/31
CHAPTER 1

What we experience early on (in our adult life) is more compelling than what we learn second hand, which is why each person thinks about #Risk & #Reward DIFFERENTLY.

In theory we SHOULD make our investments based on OUR goals & options available.

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However we tend to include our unique experiences of how the world works (albeit with incomplete information) which might seem crazy to others .

* Spreadsheets cannot replicate human emotions which is why no amount of studying can make one truly UNDERSTAND the underlying.

4/31
CHAPTER 2

#LUCK & #RISK both play a role for EVERY outcome along with individual effort. At times making a greater impact than the consequential actions taken .
This we ought to remember when judging others' financial success.

Not ALL SUCCESS is due to hard work.

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Likewise, NOT ALL POVERTY is due to laziness.

To learn from successful people, we must focus on BROAD PATTERNS & not on specific individuals ( for we often tend to just study extreme cases at both ends of the spectrum. )

It's never AS GOOD or AS BAD as it seems !!

1/ There are a ton of books about Financial & Fundamental Analysis, Scuttlebutt and Technical Analysis. But there aren't many books 'taking risk'.

Among the few that exist, 'Zurich Axioms', written in 1985, is the best. Here are my key takeaways from the book.

2/ A bit about Max Gunther's (The Author) background. He was an Anglo-American journalist and writer, who wrote 26 Books.

His father, Franz Heinrich, was the New York Head of Schweizerischer Bankverein, which later merged into the famous Union Bank of Switzerland (UBS).

3/ The 'Zurich Axioms' were a set of unwritten rules followed by a informal group of Swiss Bankers and Traders who used to socialize around Wall Street after World War II. Mr. Heinrich was one of the founding members.

Max Gunter formalied these 'Axioms' by writing about them.

4/ There are 12 'Major Axioms' and 16 'Minor Axioms' (Corollary to the Major Axioms) in the book.

But remember, this is MY key takeaways from the book and not an exact summary. So you might find quotes, phrases and links inserted here and there by me (Not from the Author).

5/ Axiom #1: In order to earn returns, you must take risk. Risk will make you worry.

Risk-taking and worrying go hand-in-hand. If you're not worried about an investment, you're not taking risk.

Spend half your energy towards earning an income and the rest towards speculation.

Lessons I Learned From the Book

"13 Things Mentally Strong People Don’t Do"
✍🏻 @AmyMorinLCSW

📚 Book Review (thread)

1.Mentally Strong People Don’t Worry About Pleasing Everyone

Pleasing everyone can negatively impact mental strength.

When you accept you won’t please everyone, you become stronger and build courage when you anticipate displeasing others.

2.They Don’t Feel the World Owes Them Anything

Mentally strong people can shift their focus away from their debt. Hence, they can help people in need. Mentally strong people keep themselves busy doing good deeds.

3.They Don’t Waste Time Feeling Sorry for Themselves

No one is immune to hard times. However, it is how you react to these situations that is important. They replace self-pity with gratitude.

4.They Don’t Resent Other People’s Success

Overcome your envy of other people’s success and learn how to use their success to your benefit.

When people enjoy and celebrate success, they attract other successful people, creating opportunities for collaboration success.