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Mind Matters
M
Money oney
Affairs!s!
Affair
Indeed, the aim of this book is it is pride and envy and social comparisons,
not to sell the author’s service, or in short our relationship with money is
but it is to give us the complete actually psychological.
psychological understanding of Right from the start Housel remarked
our relationship with money, that doing well with money actually has
and how to have a better attitude little to do with how smart we are and a lot
towards it, writes Dr Monika Dass to do with how we behave. And behavior
is not easy to teach, even to really smart
“Morgan Housel is not that typical people. He then added, “a genius who loses
personality that preaches about personal control of their emotions can be a financial
finance from the perspective of “expert disaster. The opposite is also true. Ordinary
slash motivational speaker.” He doesn’t folks with no financial education can be
make a sales pitch for some one-size-fits-all wealthy if they have a handful of behavioral
formula to get rich, like what most of the so- skills that have nothing to do with formal
called finance gurus are offering. measures of intelligence.”
Instead, he is a market guy who Hence, the unbelievable story of Ronald
understands the complex dynamism of Read at the beginning of the book, a janitor
trading/investing, who is obsessed with who gave away $6 million to the local
behavioural finance as the reasoning hospital when he passed away, in contrast
for market movements and/or business with Richard Fuscone, a Harvard MBA and
growth, who explains that our relationship former Merrill Lynch executive who lost
with money is not science or maths but almost everything at the end of his story.
dopamine and cortisol, it is fear and greed, This, in essence, is what the book is about,
SENIORS TODAY | ISSUE #68 | FEBRUARY 2025 17
