Money alone is not worth chasing—and if money is all you’re after, you will struggle building wealth—which is valuable assets, skills, and creations. When you view money as wealth, then it can be easy to fall for what Graham calls “The Pie Fallacy,” which is believing there is a finite amount of wealth available at any one time, and if one person has a lot of the wealth then that takes away from someone else. However, when you realize that wealth and money are not the same thing, and that wealth is actually created, then you realize there is no finite pie. Money is an abstraction, it’s a
...more
