Hello. I am Deepak Kundu, an avid book reader and quotes collector. As a hobby, I collect interesting quotes from the books that I read.

This post is a collection of 30 quotes from the book - Richer, Wiser, Happier by William Green. I hope you find these quotes useful.

Richer, Wiser, Happier Quotes

There are no prizes for frenetic activity. Rather, investing is mostly a matter of waiting for these rare moments when the odds of making money vastly outweigh the odds of losing it.

Intelligent people are easily seduced by complexity while underestimating the importance of simple ideas that carry tremendous weight.

To beat the market, you must be brave enough, independent enough, and strange enough to stray from the crowd.

The best investors are not like other people. They are iconoclasts, mavericks, and misfits who see the world differently from the crowd and follow their own peculiar path—not just in the way they invest but in the way they think and live.

The only way to beat the market is to diverge from the market. That’s a task best suited to people who are, quite literally, extraordinary—both intellectually and temperamentally. So perhaps it’s no surprise that this is a game that favors brilliant oddballs.

In the world of business, sameness and stability are not an option. Companies rise and fall, locked in a Darwinian struggle for supremacy and survival, and industry after industry is disrupted by technological innovation.

In a world where nothing is stable or dependable and almost anything can happen, the first rule of the road is to be honest with ourselves about our limitations and vulnerabilities.

We often assume that skill, not luck, is the most vital ingredient of success. Maybe. But it’s hard to beat the good fortune of starting at the ideal time to catch a monster wave.

Financial markets are the perfect laboratory for the study of cyclicality because they’re driven by investor psychology, which veers perennially between euphoria and despondency, greed and fear, credulousness and skepticism, complacency and terror.

There’s nothing quite like having cash when others are gasping for it.

We doom ourselves to suffer—both in investing and life—when we expect or yearn for things to stay the same.

Never bet the farm against the inexorable forces of change.

Both in markets and life, the goal isn’t to embrace risk or eschew it, but to bear it intelligently while never forgetting the possibility of an unpleasant outcome.

Not trying to maximize is an important component in preparing for what life may throw at you, and that’s true in investing and living.

It requires real bravery for fund managers to diverge radically from the market indexes because, if they’re wrong, they can jeopardize their entire career. That’s particularly unappealing if you’re married, have kids, or just fancy the idea of preserving your luxurious lifestyle. An easier option is to “underweight” certain stocks or sectors, instead of avoiding them entirely. The specter of “career risk” helps to explain why many funds “hug” the index, condemning themselves to unexceptional returns but sparing themselves exceptional grief.

If your goal is resilient wealth creation, you can’t operate like a heat-seeking missile. The risks are too extreme because the most popular assets provide no margin of safety.

In markets, as in life, so much hinges on our ability to survive the dips.

If, say, all of your money is in one bank, one brokerage, one country, one currency, one asset class, or one fund, you may be playing with a loaded gun. With luck, you can get away with anything in the short term. With time, the odds rise that your vulnerability will be exposed by unforeseen events.

In financial markets, as in martial arts, victory doesn’t depend on dazzling displays of esoteric techniques. It depends on a firm grasp of the principles of the game and a deep mastery of basic skills.

We each need a simple and consistent investment strategy that works well over time—one that we understand and believe in strongly enough that we’ll adhere to it faithfully through good times and bad.

The market isn’t an efficient machine that reliably and consistently sets fair prices. It’s a comedy of errors, a festival of folly.

It’s not enough to find a smart strategy that stacks the odds in your favor over the long haul. You also need the discipline and tenacity to apply that strategy consistently, especially when it’s most uncomfortable.

In a world that’s increasingly geared toward short-termism and instant gratification, a tremendous advantage can be gained by those who move consistently in the opposite direction.

Resounding victories tend to be the result of small, incremental advances and improvements sustained over long stretches of time.

I think of the best investors as mental athletes. They strive constantly for an intellectual advantage—more information, better information, faster information, or simply a more nuanced interpretation of information that’s already out there for everyone to see. All that hard-earned knowledge compounds over time and pays off in unpredictable ways.

The best predictor of success is often nothing more mysterious than the unflagging fervency of a person’s desire.

The value of repetition is vastly underrated and that most of us would do well to find one or two books that we read so often that they become part of us.

The art of subtraction is incalculably important, particularly in an age of information overload when our minds can so easily become scattered.

Most people make the mistake of adding too much complexity to their lives. They skim the surface, preoccupying themselves with the superficial and the extraneous. As the best investors show, sustained excellence requires us to subtract and go deep.

The desire to seek safety in numbers makes evolutionary sense. But for investors, herd behavior is often disastrous, driving them to buy during bubbles and sell during panics.