Morgan Housel
Financial success is not a hard science governed by math, but a soft skill where your behavior, ego, and relationship with uncertainty matter far more than your intelligence.
People make financial decisions based on their unique life experiences at the dinner table, not by calculating rational formulas on an economic spreadsheet.
Luck and risk are two sides of the same coin, meaning you should judge financial outcomes broadly rather than trying to replicate extreme individual successes.
While getting wealthy requires taking calculated risks and being optimistic, staying wealthy demands frugality, patience, and a healthy dose of paranoia.