- Realize that not all success is due to hard work and not all poverty is due to laziness. keep this in mind when judging people, including yourself.
- Every decision people make with money is justified by taking the information they have at the moment and plugging it into their unique mental model of how the world works.
- Progress happens too slowly to notice, but setbacks happen too quickly to ignore.
- The more extreme the outcome, the less likely you can apply its lessons to your own life, because the more likely the outcome was influenced by Extreme and scope of luck or risk.
The Psychology of Money
by Morgan Housel