A Book -Essential Reading
Mark Van Hees - Mar 16, 2021
Inaugural blog post.
We chose to start our blog with a recommendation. Not a stock recommendation but rather a book recommendation. We have shared “The Psychology for Money” by author Morgan Housel with a few friends and clients now and all have agreed that this little read has a wealth of wisdom in its pages and could be considered essential reading for the younger generation. This book has helped us rethink our relationship with money and reshape how we define wealth. Some key takeaways are as follows:
Over 2000 books have been written about Warren Buffet, but very few have given enough credit to one major key to his success and that is the impact of time and compounding. His skill is investing, his secret is time.
The most powerful forward looking indicator of your financial freedom is not how much you earn or what your investment strategy is, but rather how much you save.
Finance is not guided by laws like math and physics. It is guided by people’s behaviors.
The taste of more increases ambition faster that satisfaction.
Compounding doesn’t rely on earning big returns. It relies merely on good returns sustained and uninterrupted for the longest period of time.
Equity market returns are never free. The price is volatility and it’s is an admission price worth paying.
Purchase here and enjoy the read:
-Arno Richter / Mark van Hees