THE PSYCHOLOGY OF MONEY by Morgan Housel | Core Message

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In this step you'll learn about the power of compounding, volatility, and tail investments. Compounding is about using the power of compounding to maximize returns, volatility is about understanding the emotional price you need to pay for good returns, and tail investments is about understanding that a few investments can massively outperform the rest. Warren Buffet is a great example of leveraging the power of compounding, Jeff Bezos is an example of embracing volatility, and Amazon Web Services is an example of a tail investment.