Same in investing. Cash is an inefficient drag during bull markets and as valuable as oxygen during bear markets - Morgan Housel

When someone is viewed as more extraordinary than they are, you're more likely to overvalue their opinion on things they have no special talent in. Like a successful hedge fund manager's political views, or a politician's investment advice.

Money buys happiness in the same way drugs bring pleasure: incredible if done right, dangerous if used to mask a weakness, and disastrous when no amount is enough.

What really gives people meaning and happiness is a combination of four things: Control over what they're doing, progress in what they're pursuing, being connected with others, and being part of something they enjoy that's bigger than themselves.