A&B #53

Hey everyone,

I'm working on picking a book cover design for my first book. I narrowed it down to 4 final designs. I'd love your input on them–you can

I wrote two Twitter threads this week that you might enjoy reading:

The first is about

Mind Management Not Time Management

by David Kadavy.

The second is about

by Morgan Housel (this thread received over 1,000,000 impressions).

Alright, let's dive into this week's newsletter.

📚 Book Lessons:

This week's book is The Psychology of Money by Morgan Housel.This is a book worth rereading multiple times. When it comes to building wealth, your psychology plays an equal (if not bigger) role than your investing skills. If you haven't read it yet, I highly recommend grabbing a copy. Here are 3 lessons from it:1) No One Cares About Your ThingsWhen you see a person drive by in a Ferrari, chances are you aren't admiring the person driving it. The same goes for all other possessions.We assume that buying an expensive will make us cool and respected (and maybe a car fanatic will appreciate it) but the vast majority of people will be focused on imagining themselves in your car instead of thinking about you.If you seek respect and admiration, be careful how you seek it. Chances are more humility is the right answer, not more horsepower. 2) Increase Your Time HorizonNobody can exactly predict a stock’s future price. Many try, but the majority fail. But, there's a way to almost guarantee your investment growing–invest and wait.Here are the historical odds of making money in the US stock market are: 50% in a one-day period 68% in a one-year period 88% in a ten-year period 100% in a twenty-year periodIn other words, the best thing you can do as an investor is to play the long game. As the kids say, stocks only go up (if you're patient).3) Just Keep SavingIt's great to save for a downpayment on a house, a new car, or another goal, but the truth is saving does not require a goal of purchasing something specific. You can save just for saving's sake, and you should.Saving is a hedge against life's inevitable ability to surprise the hell out of you at the worst possible moment. Saving also gives you peace of mind, the ability to wait, and the opportunity to pounce on a deal or investment. "Every bit of savings is like taking a point in the future that would have been owed by someone else and giving it back to yourself," writes Morgan.

✅ Actionable Advice:

1) Be nicer and less flashy:

• No one is impressed with your possessions as much as you are.

• If you want respect and admiration, you're better off gaining those things through kindness, humility, and hard work, than through buying a new car or watch.

2) To become a better investor, increase your time horizon:

• The single most important thing you can do to become a better investor is to increase your time horizon.

• Time is the most powerful force in investing, it can make little things grow big if it's not interrupted.

3) Save more money than you think you should:

• You don't need a specific reason to save.

• It's great to save for a car, but it's even better to save for an unpredictable event in the future (new kid, getting fired, medical expense, etc.).

🎧 Podcast Update:

No new pod this week, but here are 3 of my most popular YouTube shorts (videos under 60 seconds):

1. 5 Awesome Books You Can Read 1 Page Per Day

2. 5 Awesome Books Less Than 100 Pages

3. 5 Books You Should Read Before Turning 25

📖 Reading Lesson:5 Dyslexia Reading Tips:1) Change the font on your ebook to Open Dyslexia.2) Change the background color to gray.3) Experiment with listening to audiobooks at different speeds.4) Take breaks while reading to recharge.5) Buy hardcover books (the font tends to be bigger).

⭐️ Weekly Quote:“A homeless man visited my store today. The few quarters that he had in his pocket he invested on books…He walked away filled with joy as if he possessed the world’s riches in his hands. In a way, he did.”-Besa Kosova

🙏 Support:This week's sponsor is Podcast Notes.They have summaries on 1,500+ podcasts and 100+ exclusive member-only articles, such as their Guide to Reading More & Becoming A Better Reader. If you love podcasts and want to save yourself hundreds of hours of listening time, sign up for their membership.Use code "BOOKS" to save 10% on your subscription here.

Thank you for your support everyone, I'll see you next Sunday!Read on,Alex W.