A favourite financial writers/bloggers is Morgan Housel (his new book is due out in September titled “The Psychology of Money”)
Recently he wrote a powerful article with four key points that are very relevant at times likes these, below these are listed and a link to the full article:
#1: Big risks happen when a bunch of small risks combine and compound. But small risks are easy to ignore, so people always underestimate the odds of big risks.
#2: Optimism is the fuel of progress, and without it people will grind to a halt. So you will often find it even when the odds are stacked against you and the facts don’t align.
#3: People will avoid even the slightest discomfort, even when the pain is manageable and trying to avoid the pain creates bigger risks.
#4: Disagreement is constant because it’s rooted in individual experiences. Experiencing a major stressor can permanently change your behaviour, leaving certain countries and generations with extreme feelings toward specific topics.
A recommended interesting read for all. The full article can be accessed by clicking –https://www.collaborativefund.com/blog/same-as-it-ever-was/
