Jonathan Clements
Goodreads Author
Born
in London, The United Kingdom
Website
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Member Since
November 2013
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“He would joke that “stock-market forecasters exist to make astrologers look good.”
― 48 and Counting
― 48 and Counting
“We’re too focused on the short-term. Experts keep advising us to save and invest, so we can retire in 20 or 30 years. And yet we remain almost exclusively focused on the here and now. Is there a new toy we’re hankering to buy? To persuade us to postpone the purchase for a mere 12 months, somebody would likely have to offer us a huge financial incentive. We are also overly influenced by recent events, including the latest political news, the current crop of economic data, and whether the financial markets have lately been rising or falling. We ascribe great importance to the days and weeks ahead, and not nearly enough to next year, let alone the next 10 years.”
― How to Think About Money
― How to Think About Money
“We base decisions on information that’s easily recalled. Airplane crashes make the news, so we are more fearful of flying than driving, even though car accidents cause many more deaths. Similarly, we hear a lot about investment legend Warren Buffett and a lot about lottery ticket winners, which makes beating the market and winning the lottery seem far more likely than they really are.”
― How to Think About Money
― How to Think About Money