Page 207 - Psychology of Money - Timeless Lessons on Wealth, Greed, and Happiness-Harriman House Limited (2020)
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And that’s about it. Effectively all of our net worth is a house, a checking
                account, and some Vanguard index funds.
  COBACOBA

                It doesn’t need to be more complicated than that for us. I like it simple. One
                of my deeply held investing beliefs is that there is little correlation between

                investment effort and investment results. The reason is because the world is
                driven by tails—a few variables account for the majority of returns. No
                matter how hard you try at investing you won’t do well if you miss the two
                or three things that move the needle in your strategy. The reverse is true.
                Simple investment strategies can work great as long as they capture the few
                things that are important to that strategy’s success. My investing strategy
                doesn’t rely on picking the right sector, or timing the next recession. It

                relies on a high savings rate, patience, and optimism that the global
                economy will create value over the next several decades. I spend virtually
                all of my investing effort thinking about those three things—especially the
                first two, which I can control.


                I’ve changed my investment strategy in the past. So of course there’s a
                chance I’ll change it in the future.


                No matter how we save or invest I’m sure we’ll always have the goal of

                independence, and we’ll always do whatever maximizes for sleeping well at
                night.


                We think it’s the ultimate goal; the mastery of the psychology of money.


                But to each their own. No one is crazy.
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