Psychology Archives - New Trader U

Charlie Munger’s Darkest Lesson: How Envy and Ego Quietly Destroy Wealth

Charlie Munger’s Darkest Psychology Lesson: How Envy and Ego Quietly Destroy Wealth

Charlie Munger, Psychology, Wealth / Steve Burns

Charlie Munger spent over six decades studying why smart people fail with money. His conclusion had nothing to do with bad stock picks or poor timing. The real destroyers of wealth, according to Munger, were two psychological forces hiding in plain sight: envy and ego. These forces don’t announce themselves. They operate beneath the surface, […]

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Warren Buffett: 5 Mental Traps That Keep the Middle Class Broke

Personal Finance, Psychology, Warren Buffett / Steve Burns

Warren Buffett built one of the greatest fortunes in history, yet he still lives in the Omaha house he bought in 1958. He still drives a modest car. He still eats the same breakfast from McDonald’s most mornings. The gap between Buffett’s net worth and his lifestyle reveals something powerful about the psychology of wealth.

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Charlie Munger: 10 Differences Between the Middle Class Mindset and the Wealthy Mindset

Charlie Munger, Psychology, Wealth / Steve Burns

Charlie Munger spent decades as Warren Buffett’s partner at Berkshire Hathaway, but his most significant contributions went beyond investing. Munger understood why most people stay stuck financially while a few quietly build extraordinary wealth. The difference was never about income. It was about how people think. Let’s explore 10 contrasting mindsets between middle-class people and

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The 10 Rules of Self-Discipline That Warren Buffett Lives By

Psychology, Success, Warren Buffett / Steve Burns

Warren Buffett built one of the greatest fortunes in history not through genius alone but through decades of unwavering self-discipline. While most people associate discipline with willpower, Buffett treats it as a decision-making system. He designs his life to minimize temptation rather than constantly fighting it. His daily habits, investment philosophy, and personal conduct all

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Top 10 Books That Explain Human Behavior Better Than Most Psychology Classes

Best books, Book Reviews, Books, Psychology / Steve Burns

Most psychology classes teach theories, terminology, and research methods. They rarely show you how human behavior actually plays out in daily life. The best books on the subject go further than any lecture hall by connecting behavioral science to lived experience. These ten books reveal the hidden patterns behind every decision, conversation, and relationship. If

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Warren Buffett’s Inner Scorecard Strategy That Built Generational Wealth

Psychology, Warren Buffett, Wealth / Steve Burns

Most people spend their lives chasing approval from others. They buy houses they can’t afford, drive cars meant to impress coworkers, and make investment decisions based on what everyone else is doing. Warren Buffett built one of the greatest fortunes in history by doing the opposite. He followed what he calls the “inner scorecard,” a

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Charlie Munger: The 5 Psychological Traps That Keeps the Middle Class Stuck

Charlie Munger, Psychology, Wealth / Steve Burns

Charlie Munger spent decades studying why intelligent people make terrible financial decisions. As Warren Buffett’s longtime business partner and vice chairman of Berkshire Hathaway, Munger built a framework of mental models rooted in psychology and human behavior. The middle class isn’t stuck because of a lack of intelligence or effort. They’re stuck because of deeply

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The 10 Rules of Self-Discipline That Charlie Munger Lived By

Charlie Munger, Psychology, Success / Steve Burns

Charlie Munger built a multi-billion-dollar fortune not through brilliant speculation or complex strategies but through decades of disciplined thinking, rational behavior, and the relentless avoidance of mistakes. His wisdom, shared across Berkshire Hathaway annual meetings, Daily Journal shareholder sessions, and countless interviews, reveals a man who treated self-discipline as the foundation of everything worth achieving.

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10 Stoic Psychology Rules Strong Men Live By, According to Marcus Aurelius

Psychology, Stoicism, Success / Steve Burns

Marcus Aurelius spent nearly two decades as Emperor of Rome while quietly writing one of history’s most powerful guides to mental strength. His private journal, known today as Meditations, was never intended for an audience. It was a man coaching himself through war, betrayal, plague, and loss. The psychology embedded in those writings has outlasted every

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Charlie Munger: 10 Reasons Why So Many Smart People Never Get Rich

Charlie Munger, Psychology, Wealth / Steve Burns

Charlie Munger spent decades observing why intelligence and wealth don’t automatically go hand in hand. As Warren Buffett’s longtime business partner, Munger watched brilliant people make the same financial mistakes over and over. His conclusion was clear: getting rich has far less to do with IQ than most people think. The real barriers to wealth

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Charlie Munger’s 10 Mental Models for Building Wealth in Any Economy

Charlie Munger, Psychology, Wealth / Steve Burns

Charlie Munger spent decades as Warren Buffett’s right-hand man at Berkshire Hathaway, but his most significant contribution to the world of investing may not be any single trade or deal. It was his relentless push for multidisciplinary thinking. Munger believed that the best investors and decision-makers don’t rely on one narrow framework. They build a

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10 Things Charlie Munger Learned About Human Nature That Made Him Wealthy

Charlie Munger, Psychology / Steve Burns

Charlie Munger spent seven decades studying why intelligent people consistently make terrible financial decisions. While most financial education focuses on charts and market timing, Munger devoted his life to a deeper question: what is it about human psychology that leads smart people to destroy their own ability to build wealth in the first place? His

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The 10 Stoic Rules of Self-Discipline That Marcus Aurelius Lived By

Psychology, Stoicism / Steve Burns

Marcus Aurelius ruled the Roman Empire for nearly two decades, yet he considered his most significant battle to be the one he fought within himself. His private journal, known today as Meditations, reveals a man who held himself to an extraordinary standard of self-discipline through Stoic philosophy. These ten principles weren’t abstract theories for Marcus.

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The Richest Self-Made Woman In The United States (2026)

Psychology / Holly Burns

Diane Hendricks stands at the pinnacle of American entrepreneurship with a net worth of $22.3 billion as of 2026, making her the wealthiest self-made woman in the United States. The chair and co-founder of ABC Supply built her fortune from the ground up, transforming a small roofing supply business into the largest wholesale distributor of

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7 Things To Buy To Be Happier, According To Neuroscience

Psychology / Holly Burns

The pursuit of happiness often leads people down the wrong shopping aisles. While conventional wisdom suggests that material possessions bring temporary joy at best, neuroscience reveals that certain purchases can create lasting improvements in well-being. The key lies not in accumulating more stuff, but in strategic spending that aligns with how the brain processes satisfaction

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The Middle Class Mind Trap: 5 Beliefs That Keep People From Getting Wealthy

Psychology, Wealth / Steve Burns

Most people don’t stay middle class because they lack talent or opportunity. They stay middle class because they hold onto beliefs that feel safe but quietly block every path to real wealth. These beliefs aren’t random. They’re handed down through families, reinforced by social circles, and treated as common sense by nearly everyone who never

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5 Types of People You Should Never Trust According to Marcus Aurelius

Psychology, Stoicism / Steve Burns

Marcus Aurelius ruled the Roman Empire during one of its most turbulent periods, yet he spent his private hours writing about character, virtue, and the nature of human relationships. His personal journal, known as Meditations, wasn’t written for public consumption. It was a brutally honest conversation with himself about how to navigate a world full of

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Marcus Aurelius’ Stoic Psychology: 7 Rules for Mental Strength in a Chaotic World

Psychology, Stoicism, Success / Steve Burns

Marcus Aurelius ruled the Roman Empire during one of its most turbulent periods — plagues, wars, betrayals, and economic instability tested him daily for nearly two decades. Yet he was never broken. His private journal, now known as Meditations, reveals a disciplined psychological framework that kept him grounded as everything around him fell apart. These

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The Psychology Behind Why the Middle Class Wastes Money, According to Warren Buffett

Personal Finance, Psychology, Warren Buffett / Steve Burns

Warren Buffett built one of history’s greatest fortunes not through complex financial schemes or insider advantages, but by mastering the psychology of money. His insights reveal an uncomfortable truth: the middle class struggles financially not because of insufficient income, but because of consistent psychological patterns that sabotage wealth-building. Understanding these mental traps offers a roadmap

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10 Stoic Psychology Rules That Make People Unbreakable

Psychology, Stoicism, Success / Steve Burns

Most people crack under pressure because they’ve never trained their minds for adversity. They react rather than respond, panic rather than pause, and surrender control to circumstances they can’t change. This mental fragility isn’t a character flaw. It’s the natural result of never learning psychological principles that build resilience. The Stoics understood something modern psychology

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