The formation of bubbles isn’t so much about people irratio… - Morgan Housel

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The formation of bubbles isn’t so much about people irrationally participating in long-term investing. They’re about people somewhat rationally moving toward short-term trading to capture momentum that had been feeding on itself.

Morgan Housel

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Additional quotes by Morgan Housel

Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.

The correct lesson to learn from surprises is that the world is surprising. Not that we should use past surprises as a guide to future boundaries; that we should use past surprises as an admission that we have no idea what might happen next.

This is true in personal finance, where you’re told to have a six-month emergency fund and save 10% of your salary.

The formation of bubbles isn’t so much about people irrationally participating in long-term investing. They’re about people somewhat rationally movin… - Morgan Housel

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