A small number of events account for the majority of financial results. Understanding this power-law distribution helps reduce overreaction to short-term volatility.
Related to black swan theory (Taleb) and cognitive availability bias.
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A behavioral look at how we think and act about money. Morgan Housel reveals that financial success is less about IQ and more about mindset like humility, patience, and long-term thinking matter more than spreadsheets or stock picks.
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