I felt the writer wanted us to know about acceptance. The writer seems to state money is all about risk and luck executed at the right time. Also, the writer seems to be highly motivated with the idea that anything happening of gain and loss is the result of a series of actions/decisions made by multiple individuals in various time frames. I related it to Butterfly Effect. So overall my understanding from the writer was gaining or losing money is about the decision that turns out to be success or failure less on luck or knowledge and more on situation and series of past events. If you happen to be on the upside of an event where money is gained you will earn and the downside of money where money is lost you will fail to earn.
Aspects in the book
The book contains 20 chapters where the first 18 chapters are designed to be aware and the latter two are advisory and confessions respectively. Book is presented in a flow where it convinces users any financial advice working well for one person may not work for another. The reason behind not getting a universal rule as per the book is due to differences in individual goals. Book seems to provide a reality check that monetary gain is respective to many factors not directly related to hard work or knowledge.
Who should read this book?
If anyone needs a quick start to financial knowledge this book can be super helpful. Some people want money in the short term and some work for long-term gains. So, this book can be helpful to at least know how money works most quickly and in the long future.
It took me around four days to complete this book. I was speed reading around 6 hours daily. It’s really hard to summarize the book as the book itself looks like a summary. Book consists of the history of popular entrepreneurs, investors, and traders. Having prior knowledge of these people can be helpful.
Book briefly explains the story about Bill Gates and Paul Allen who have been super successful. It highlights the hidden story of Kent Evans who couldn’t become part of this success journey who was as qualified as Bill. Similarly, one of the most satisfying answers in the book was about the gain of money with years of effort. The author highlighted Warren Buffet’s achievement due to long-term commitments with the stock market and managing risk well. There are so many other personalities mentioned who have performed with money well and bad. It’s better when you get a copy and read a book by yourself as it will connect with other stories.
I like the demonstration of greed in some individuals who lost money by taking a huge risk. Book seems to not exaggerate any story rather trying to connect success/failure in finances with our daily lives.
When we think about money we tend to think it works with some rules and there is a standard way to achieve it. Book provides so many examples to clarify that one will earn or lose money based on capabilities, situation, and emotions. The writer suggested that we should have a plan of the plan to manage risk when it comes to money which I think is eye-opening.
After reading this book I would suggest individuals, when it comes to money, work and invest based on personal goals. Money only can be achieved by short-term executions and long-term commitments with work you carry or investment you do.