The Laws of Wealth by Daniel Crosby Summary
Overview of The Laws of Wealth
Psychologist Dr. Daniel Crosby's "The Laws of Wealth" reveals why your brain sabotages your investments. Praised by financial advisors for its humor and clarity, it's the rare finance book that might actually save your portfolio - and your sanity.
Similar books to The Laws of Wealth
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将知识转化为引人入胜、富含实例的见解
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核心要点
The Monkey in a Tuxedo: Why Your Brain Sabotages Your Wealth
Imagine a monkey in a tuxedo-an amusing but ultimately awkward sight. According to Daniel Crosby, this perfectly describes humans in financial markets. We're primates dressed in formal investment attire, yet fundamentally ill-equipped for the environment. The paradox is stark: we must invest in risky assets to build wealth, yet we're psychologically wired to make terrible investment decisions. The math makes this clear. Even high earners saving 10% annually for 40 years will fall short of retirement needs due to inflation and healthcare costs. Yet the investing world operates by counterintuitive rules that clash with our evolutionary programming. In markets, the distant future is more predictable than tomorrow. Stock returns become more reliable over longer holding periods, yet we're wired for immediate feedback. Doing less typically yields better results than hyperactivity-studies show that forgotten accounts often outperform actively managed ones! This fundamental mismatch creates what Crosby calls the "behavior gap"-the difference between market returns and what average investors actually earn. Studies show this gap ranges from 1.17% to 4.33% annually, a staggering difference when compounded over decades. Consider the CGM Focus fund, which returned 18.2% annually from 2000-2010, yet its average investor lost 10% due to poor timing decisions. No investment skill can overcome bad behavior.
The Emotional Circuit Breaker: Why Financial Advisors Still Matter
Market Downturns: Features, Not Bugs
The Dangerous Delusion of Investment Specialness
Goals-Based Investing: Your Financial North Star
The Impermanence of Market Extremes
Beyond Volatility: What Risk Really Means
快速摘要模式 - 9分钟阅读或收听《The Laws of Wealth》摘要
将《The Laws of Wealth》的核心观点拆解为易于理解的要点，了解创新团队如何创造、协作和成长。
闪卡模式 - 《The Laws of Wealth》精华：10条核心见解
将《The Laws of Wealth》提炼为快速记忆要点，突出坦诚、团队合作和创造力的关键原则。
趣味模式 - 《The Laws of Wealth》的启示 - 22分钟故事
通过生动的故事体验《The Laws of Wealth》，将创新经验转化为令人难忘且可应用的精彩时刻。
个性化模式 - 0分钟阅读或收听《The Laws of Wealth》摘要
随心提问，选择声音，共同创造真正与你产生共鸣的见解。
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"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
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