MORGAN HOUSEL, THE PSYCHOLOGY OF MONEY

"One of our greatest freedoms is how we react to things."

You can't control everything in life, but you can control how you respond.

This is where true power lies — in your reactions.

The independence premium refers to the financial discount people willingly accept for autonomy. This economic paradox reveals:

• Control over time represents wealth separate from monetary measurement
• Decision-making freedom has quantifiable economic value

To value investors, an asset isn’t an ephemeral concept you invest in because you think it’s attractive. It’s a tangible object that should have an intrinsic value 

capable of being ascertained, and if it can be bought below its