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Nothing’s Free
(Chapter 15)
“The key to a lot of things with money is just figuring out what that price is and being willing to pay it.”
“Successful investing demands a price. But its currency is not dollars and cents. It’s volatility, fear, doubt, uncertainty, and regret—all of which are easy to overlook until you’re dealing with them in real time.”
“Few investors have the disposition to say, ‘I’m actually fine if I lose 20% of my money…but if you view volatility as a fee, things look different.”
When you invest in the long term, you need to be willing to accept the short-term price of market fluctuations.
To learn more about the book “Psychology of Money” by Vineet Patawari, CEO & co-founder of Elearnmarkets and StockEdge, check out this YouTube channel
Michael George Knight
This book summary has been contributed by Michael George Knight, who is the founder of Bestbookbits.com Bestbookbits is the world's largest free book summary website in video, written and audio format educating people around the world with the best book bits in the shortest amount of time. They are a nonprofit organization with the mission to create an educated world. You can read many other book summaries on various genres by clicking on the following link: Bestbookbits.com