Ep 411: From Kolkata Slums to Wall Street Success - The Emotional Side of Money
Are you ready to peel back the curtain on the world of finance and explore the intriguing nuances of money psychology?
The Witch of Wall Street is back with another captivating episode, highlighting the brilliant work of, Morgan Hausel - renowned author of 'The Psychology of Money'.
We unravel the captivating tales of financial wizards who bask in immense wealth, only to plummet into the abyss of bankruptcy due to a lack of discipline and emotional control. We address the paradox of wealth - how an overload of riches can lead to the ultimate downfall, demonstrating the critical role of behavior in financial prosperity.
Venture with us into the heart of the 2008 financial crisis, analyzing its staggering impact on financial behaviors. Gain insights into the profound influence of our financial upbringing and the historical context of our money decisions. We delve into the pivotal role of behavioral finance in deciphering our complex relationship with money.
Understanding the psychology behind our financial decisions can mean the difference between success and failure, and we're here to guide you through it.
As we journey into the realm of personal finance and investing, we discuss the evolution of the financial system and the relatively modern concept of saving, investing, and taking on consumer debt.
Learn from the tale of Rajat Gupta, a man who climbed from the slums of Kolkata to the pinnacle of business success, only to descend into the shadows of insider trading.
This episode illuminates the importance of understanding when to be content with what you have and when to reach for more. Wrap up this enlightening episode with us as we scrutinize our beliefs and behavior around money, and their profound impact on our financial success.
So, buckle up Witch, it's time to tap into the magic of investing, and embark on a global mission to understand the psychology of money!
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xo Laura
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