The Money Game

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Forgotten the title or the author of a book? Our BookSleuth is specially designed for you. Visit BookSleuth I finished this. I think. But it ain’t easy to read. Written by George Goodman using as the pseudo name Adam Smith – the father of economic thought. I wish this had been written by Smith.

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Chapter 13: The numbers created by “independent auditors” should be looked at with a grain of salt given that the accountants are paid and hired by the companies themselves. the end object of investment is serenity, and serenity can only be achieved by the avoidance of anxiety, and to avoid anxiety you have to know who you are and what you’re doing.” There has always been a They in markets, which Smith refers to as elephants, that move markets at a whim. Anyone whose orientation is toward where the action is, where the happenings happen, should buy a copy of The Money Game and read it with due diligence." — Book WorldThese fun money games for kids can help children to understand the value of UK coins, how to count money and work out change. They also include problem solving money activities. Money is how the game is scored…a path to being rich. The conundrum lies in how you define rich. You can treat it as a possession to see who can collect the most or you treat it as a means to an end, the means being financial freedom and enjoyment of life. Nothing works all the time and in all kinds of markets… If you really love playing the Game, any action is better than inaction, and sometimes inaction is the proper course, if it has been taken after measuring all the measurable options. If a decision is made not to make a decision, that is just as much a decision as a decision which initiates action.”

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Everyone believes themselves to be a contrarian when really their part of the crowd. Also, human nature suggests most people find comfort being part of the crowd. The Money Game is a satirical look at Wall Street. It brings to light in a humorous manner the psychological aspect of Wall Street. Emotional maturity, remaining calm, keeping your cool, discipline, and patience are all used to describe a way of being in highly emotional, stressful, or anxiety filled situations. In other words, the markets. Succumbing to the stress and anxiety is why investing is so costly. The trouble with high growth companies: they carry the seeds of their destruction. Unless the company has some advantage, the high growth attracts copycats. Growth is spread across competitors, prices get cut as they battle for market share, and profit margins suffer. And when that doesn’t work, there’s a point where growth falters because growth is finite. Companies grow too big to grow at a high rate and there’s no magic number that says when they hit too big. And then there’s the market. There’s no way to know the multiple the market would put on the growth. THE MONEY GAME. HOW TO PLAY IT. A NEW INSTRUMENT OF ECONOMIC EDUCATION. WITH WITH GOOD SIGNED HANDWRITTEN LETTER.It has taken me years to unlearn everything I was taught, and I probably haven’t succeeded yet. I cite this only because most of what has been written about the market tells you the way it ought to be, and the successful investors I know do not hold to the way it ought to be, they simply go with what is.” Money Game” by Ren is about the current state of the economy. The song goes in depth about the process that people take to create artificial scarcity, create a monopoly, and talks about the flaws of capitalism in the United States and United Kingdom.

The Money Game by Adam Smith | Goodreads The Money Game by Adam Smith | Goodreads

Detachment means you can change your mind or reverse course, without being tied down by prior decisions. The Money Game” works the same way, but within the logic of Wall Street. “Yes,” it says, “money is a game, played by the rich and for the rich, and that’s as it should be.” ‘Adam Smith,’ the pseudonymous author, does a likeable job of pointing out the silliness of certain financial types (the amateur investor, the idiot expert, etc.) and teasing the financial powers that be, but this is all coming from a man who makes his money on Wall Street, who is inherently of the system he’s commenting on. His newspaper column, on which the book was based, apparently made a grand stir among financiers when it was published in the 1960’s – but it only made that stir because the financiers read it, because it stayed inside their world. Long before the term behavioural finance there was someone writing about the significance of identity. Long before the witty Buffett-isms, someone wrote those same words as part of his Irregular Rules. And long before Michael Lewis carved out his own position as the Wall Street storyteller du jour, someone else did so with similar eloquent finesse. Today, nearly three months have passed since George J.W. Goodman died on January 3, 2014 - or, as the financial after world knew him by, Adam Smith. A name created for him by the publisher of New York Magazine so as to keep his weekly Wall Street columns anonymous. You have to know yourself. You have to be observant and honest and learn from mistakes. The decisions made around investing paint a portrait of who we are — biases and all. It’s better to figure it out, learn from it, and use it to our advantage, then to ignore it, fight against it, and fail.

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An enjoyable and refreshing read, especially for someone in the investment trade. Unlike the holier than thou value investing books, many of which I’ve had the pleasure of reading, this one does not claim that there is any meaning to the investment activity, other than acquisition of financial wealth, nor does it portray the “pursuit of alpha” as anything meaningful, an end in itself. The Money Game, How to Play It, a New Instrument of Economic Education ; the First 'section' is Textual Outlining the Historic Economic Theories the Game Relates to and Draws Attention To. the Game Itself is Contained in a White Pastedbo Anyone whose orientation is toward where the action is, where the happenings happen, should buy a copy of The Money Game and read it with due diligence.”— Book World The first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.

The Money Game by George Goodman | Goodreads

the prices seem to go up to about 50p, but there is no 20p coin - you have to pay in 1p, 2p, 5p and These fantastic free printable money resources will enable you to make games, worksheets and resources to help Markets are only a tiny facet of society, but being made by mass psychology, they are a good litmus paper for what is going on. Markets only work when they believe, and this confidence is based on the idea that men can manage their affairs rationally. The longest period of prosperity in the last few hundred years came when everyone believed that the king was on the throne, that the pound was worth a pound, that God was in His Heaven, and that all these things would continue for ever and ever… In the longer run, the actions of all the investors, individual and institutional, professional and nonprofessional, have to be based on the belief that leadership knows what it is doing and that rational men are handling the nation’s business rationally. If that belief fades, then so do the markets. They do not merely dive, they dive and then they disappear. It happened here in the blight of the spirit from 1930 to 1933, and it has happened in other countries.”

The end-of-the-worlders, doomsayers, and gold-bugs have existed in markets forever and their calls will never cease. Last half of the book wanders across the investment landscape with varying types of investors are explored. The mass psychology has a way of taking hold of every new generation of investors because they’re too young to remember to any bad times and they’re undefeated in the current market. So they fall in love with “the New Math, the New Economics, and the New Market.” Chapter 15: Professional investors are “performance” managers who are focused on driving results in the short term. Very few “performance” managers think in the long term. It’s all about driving big capital gains!