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Morgan Housel: The Laws Of Investing

FYI: What’s an investing law? There’s no definition, so I’ve taken some liberties here. I try to limit them to forces that influence all types of investments, in all sectors, in all countries, throughout all of history, with few exceptions, and some explanation for why it will continue indefinitely.

A theme here is that investing is not just the study of finance. It’s the study of how people behave with money. So most of these “laws” describe a universal feature of how people respond to risk, reward, and scarcity.
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