Page 50 - Morgan Housel - The Psychology of Money_ Timeless Lessons on Wealth, Greed, and Happiness-Harriman House Limited (2020)

This can be as innocent as burning out at work or a risky investment
allocation you can’t maintain. On the other end there’s Rajat Guptas and
COBACOBA
Bernie Madoffs in the world, who resort to stealing because every dollar is

worth reaching for regardless of consequence.

Whatever it is, the inability to deny a potential dollar will eventually catch
up to you.

4. There are many things never worth risking, no matter the potential
gain.

After he was released from prison Rajat Gupta told The New York Times he

had learned a lesson:

Don’t get too attached to anything—your reputation, your accomplishments

or any of it. I think about it now, what does it matter? O.K., this thing
unjustly destroyed my reputation. That’s only troubling if I am so attached
to my reputation.

This seems like the worst possible takeaway from his experience, and what
I imagine is the comforting self-justifications of a man who desperately
wants his reputation back but knows it’s gone.

Reputation is invaluable.

Freedom and independence are invaluable.

Family and friends are invaluable.

Being loved by those who you want to love you is invaluable.