Just Keep Buying by Nick Maggiulli (2022)

"Patience and discipline are the key ingredients of successful long-term investing." - Nick Maggiulli

Just Keep Buying: Proven Ways to Save Money and Build Your Wealth by Nick Maggiulli talks about money management and answers questions like when to spend when to save, and how to invest. The context-based money management is a practical approach that reminds us to spend money based on our earnings and the need to enjoy life. ​ The key idea is to spend based on our context:

• Saving when we have more money.
• Paying when money can make us enjoy life.
• Keeping buying despite the stock market's ups and downs.

Two exciting stories from the book: 

• ​Jeff Seder, one of the world's greatest horse racing stars, looked at all sorts of criteria before buying horses, including checking their pedigree and lmeasuring their nostril size, the weight of their excrement, or the density of their muscle fiber. But nothing correlated with racing performance. "So Seder tried something different. He measured the horses' heart size – specifically, the size of their left ventricles. Bingo. Finally, he'd found a reliable predictor of racing success. He bought more horses with larger left ventricles and won more races. "Sometimes we don't need all the information but the critical ones. "
• Dolly Varden Charr, a trout-like fish, lives in southern Alaska. The Pacific streams contain little sustenance except for one month in the early summer when salmon laden with eggs arrive. Hundreds of fish thrive in this food desert through phenotypic plasticity – a species' ability to adapt its physical form to suit its environment. Dolly Varden charr shrinks their digestive organs and slows their metabolism when there's little food. When the salmon arrive, those organs double in size, and their metabolism speeds back up.

Just Keep Buying offers a refreshing perspective on money management, emphasizing the importance of context-based spending. By saving when we have more money, paying when money can make us enjoy life, and keeping buying despite the stock market's ups and downs, we can build our wealth and live a fulfilling life.