Personal highlights from Morgan Housel’s Some Things I Think:

• Many beliefs are held because there is a social and tribal benefit to holding them, not necessarily because they’re true.
• The best measure of wealth is what you have minus what you want. (By this measure, some billionaires are broke.)
• The most valuable personal finance asset is not needing to impress anyone.
• You can only ignore the critics if you also discount the praise.
• Past performance increases confidence more than ability.
• Schools are good at measuring intelligence but not great at measuring passion, endurance, and character, which tend to be more important than intelligence in the long run.
• A good bet in economics: the past wasn’t as good as you remember, the present isn’t as bad as you think, and the future will be better than you anticipate.