From Morgan Housel, bestselling author of The Psychology of Money, stories about what people have always done, and will always do.

Everyone wants to see the future. Few are good at it. From business to economics, politics to social trends, we’re just not very good at predicting what happens next. According to Morgan Housel, this is because we focus too much on what we think will change and not enough on what we know will stay the same.

If you traveled in time to 500 years ago or 500 years from now, you would be astounded at how much technology and medicine has changed. The geopolitical order would make no sense to you. The language and dialect may be completely foreign. But you’d notice people falling for greed and fear just like they do in our current world. You’d see people persuaded by risk, jealousy, and tribal affiliations in ways that are familiar to you. You’d see overconfidence and short-sightedness that reminds you of people's behavior today. You’d find people seeking the secret to a happy life and trying to find certainty when none exists in ways that are so relatable.

When transported to an unfamiliar world, you’d spend a few minutes watching people behave and say, “Ah. I’ve seen this before. Same as ever.”

History is filled with surprises no one could have seen coming. But if we learn to see what doesn’t change, we can be more confident in our choices, no matter what the future brings.

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.

Money―investing, personal finance, and business decisions―is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.

In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Doing well with money isn't necessarily about what you know. It's about how you behave. And behavior is hard to teach, even to really smart people. Money-investing, personal finance, and business decisions-is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don't make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life's most important topics.

This book was designed to reduce mistakes. Your mistakes with money. Tiny errors, epic fails and everything in between. You can do thousands of things right, but make just a few of the errors we discuss, and you destroy much of your portfolio.

If you could learn how to avoid the unforced errors investors make all the time, you would make your life so much richer and less stressful. The counterintuitive truth is avoiding errors is much more important than scoring wins. How Not To Invest shows you a few simple tools and models that will help you avoid the most common mistakes people make with their money. Learn these, and you are ahead of 98% of your peers.

Make fewer errors, end up with more money.

How Not To Invest lays out the most common errors investors make. Barry Ritholtz reveals his favorite mistakes, including the lessons we can learn from some of the wealthiest and most error-prone investors.

We all make mistakes. The goal with this book is to help you make fewer of them, and to have the mistakes you do make be less expensive.