Minhazul Abedin's Key Ideas from The Psychology of Money
by Morgan Housel

People do some crazy things with money. But no one is crazy. People from different generations, raised by different parents who earned different incomes and held different values, in different parts of the world, born into different economies, experiencing different job markets with different incentives and different degrees of luck, learn very different lessons. Everyone has their own unique experience with how the world works.

"Our findings suggest that individual investors' willingness to bear risk depends on personal history." Not intelligence, or education, or sophistication. Just the dumb luck of when and where you were born.”

"What you're doing seems crazy but I kind of understand why you're doing it."-uncovers the root of many of our financial decisions.

Few people make financial decisions purely with a spreadsheet. They make them at the dinner table, or in a company meeting. Places where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together into a narrative that works for you

Dogs were domesticated 10,000 years ago and still retain some behaviors of their wild ancestors. Yet here we are, with between 20 and 50 years of experience in the modern financial system, hoping to be perfectly acclimated.

We all do crazy stuff with money, because we're all relatively new to this game and what looks crazy to you might make sense to me. But no one is crazy we all make decisions based on or own unique experiences that seem to make sense to us in a give moment.