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The Psychology of Money by Morgan Housel – A Book Review

I was scouring Amazon’s vast library for a fiction to read, as it has been a while that I read a good ‘whodunnit’ or its ilk. While searching, this book jumped up on the suggestion list (though it is not a fiction) and as it was ordained, I just had a glance at its blurb and inhaled a whiff of its contents. I forgot fiction for a while and within seconds I ordered it.

After having finished it, the following are my independent observations: A book for all seasons and a plethora of reasons. A succinct way of saying things that matter and doing it in a way that rises above the usual chatter. The author weaves his magical lessons through anecdotes and stories, he keeps the narrative interesting and grounded. He soars through his wit, wisdom and wordly take on the ‘happenings’ around us. He makes us travel the whole of the earth’s geography via the pages of world history.

The lessons in the garb of stories and narratives are easy to comprehend and follow. The biggest plus of this work is the author’s ability to speak the lingo of the reader – covering the whole continuum from a low lying layman to a loftily levitating learned. His ability to pick up tangled threads from our life-finances to straighten them up with minimum of fuss, just takes us readers on an enlightening journey into personal as well as professional finances.

To sum up, the reasons to read this book are: amazing clarity about complex concepts; real, working but unheard mental models; simple and easy to grasp perspective; sanely sensible and insanely intuitive.

A book for the young to follow, the middle-aged to learn from and the veterans to mull over. The best part about the book is that the author is unpretentious and has no grand illusions of his expertise and experience about money. It is an honest version of a man who believes in – “no one knows the right answers” and humbly accepts it as the sole universal truth. I couldn’t concur more.

Grab a copy: read it for fun, read it to learn and read it to earn. You won’t regret it.

Dr. Jitendra Sharma is a Professor at IMT Nagpur and teaches Operations and allied courses. When not teaching, he dabbles in reading, writing and binging on movies and web-series.

Dr Jitendra Sharma
Professor, Operations Management