Happiness is a function of reality minus expectations . Because expectations rise automatically (a biological and psychological constant), the only way to be happy long-term is to manage your expectations ruthlessly.
The single most dangerous thing in finance is the seduction of "This time is different." Housel proves, through 2,000 years of history, that human nature—greed, fear, opportunism, and the tendency to extrapolate trends into infinity—never changes. Lo que nunca cambia - Morgan Housel.epub
To understand markets or people, ignore the math. Look at the dominant story. Stories change slowly, but when they change (from "optimism" to "panic"), they change violently. Happiness is a function of reality minus expectations
In the short term, everything looks like a crisis. In the long term, progress is inevitable. Housel shows charts comparing 1900 to 2000: Wars, depressions, and pandemics happened, yet the standard of living increased tenfold. To understand markets or people, ignore the math