Money psychology expert, Warren Buffett agree on best way to invest
It’s natural to feel like being a good investor means coming up with a complicated strategy that maximizes returns, Morgan Housel, author of “The Psychology of Money,” said on a recent episode of The Burnouts podcast. But that perspective is likely holding you back from long-term financial gains, he said.
“A lot of people in investing, particularly smart people … high IQ, high educated people, are like, ‘Let’s try to make this as complicated as we possibly can,’ and they do,” Housel said. But when it comes to investing, “the more complicated you make it, the worse you’re probably going to do.”
Instead of chasing hot stocks or trying to time the market, the smartest approach to investing is making it as “brainless and simple and boring…
