Quotessence
Home / Quotes / Quote by Sherman Rivers

Quote by Sherman Rivers

“Mental freedom is the product of mastery in several areas of our lives. We must master ourselves, our relationships, and our money. Mastering one without the others (or some without one) will leave us subject to an undue external influence in the area(s) that remain which will keep us bound. Freedom isn't free, it takes a lot of hard work.”

Quote by Sherman Rivers

Create image

Author

Sherman Rivers

Browse famous quotes and profile details for Sherman Rivers. more

You May Also Like

“We often analogize our brains to computers – impartial storage apparatus tasked with housing and calling up information objectively. In reality, our brains are far more like beer goggles than supercomputers, which means that the intelligent investor must take precautions to ensure the emotion of the moment is not warping his sense of reality.”

HumorMoneyAdviceInvestingFinanceDecision MakingInvesting QuotesFinance QuotesBehavioral EconomicsBehavioral Finance
Book:The Laws of Wealth: Psychology and the secret to investing success
Create image

“[The] more confidence an expert had, the worse his predictions tended to be and that the more famous an expert was, the worse her predictions were on average. Only in Wall Street Bizarro World would we expect confident experts to be stupid and famous thought leaders to be deserving of infamy.”

HumorMoneyAdviceInvestingFinanceDecision MakingInvesting QuotesFinance QuotesBehavioral EconomicsBehavioral Finance
Book:The Laws of Wealth: Psychology and the secret to investing success
Create image

“The lessons for behavioral investors are unavoidable: you must automate your process wherever possible and avoid bias in the selection of people and processes. To do otherwise is to believe that professional money managers are actually above the fray of human bias, when the evidence shows us otherwise.”

HumorMoneyAdviceInvestingFinanceDecision MakingInvesting QuotesFinance QuotesBehavioral EconomicsBehavioral Finance
Book:The Laws of Wealth: Psychology and the secret to investing success
Create image

“Let me say with all forthrightness that the [Rule-Based Behavioral Investing] model is not perfect and that some years following its principles won’t even beat a passive market cap weighted index. But what it does do is tilt the odds in your favor by consistently exploiting the psychological failings of your opponents in the market.”

HumorMoneyAdviceInvestingFinanceDecision MakingInvesting QuotesFinance QuotesBehavioral EconomicsBehavioral Finance
Book:The Laws of Wealth: Psychology and the secret to investing success
Create image

“The behavioral investor understands and seeks to mimic the best parts of passive investing - low turnover, rock bottom fees and appropriate diversification - without succumbing to absentminded buying and selling.”

HumorMoneyAdviceInvestingFinanceDecision MakingInvesting QuotesFinance QuotesBehavioral EconomicsBehavioral Finance
Book:The Behavioral Investor: How psychology shapes wealth, risk, and investment decisions
Create image

“This book could have easily been three words long: automate, automate, automate. It likely wouldn't have sold well, and you might have ignored the advice on account of it seeming too simple, but the fact is that many of the thornier elements of emotion can be done away with entirely by slavishly following a system of investment rules in all types of market weather.”

HumorMoneyAdviceInvestingFinanceDecision MakingInvesting QuotesFinance QuotesBehavioral EconomicsBehavioral Finance
Book:The Behavioral Investor: How psychology shapes wealth, risk, and investment decisions
Create image