Morgan Housel made his first investment when he was 18, putting $1,000 into a certificate of deposit at his local bank. When he started to make some interest on that investment, he was hooked. He devoured books on finance and economics, eventually becoming a financial columnist for The Motley Fool and The Wall Street Journal. In today’s episode, Morgan shares why he thinks finance is more like psychology than physics, some of the common emotional pitfalls related to money, and much more.
Morgan Housel is a partner at The Collaborative Fund. He's the author of the best-selling book The Psychology of Money. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, and winner of the New York Times Sidney Award. His latest book is Same As Ever: A Guide to What Never Changes.
🌟 Timestamps 🌟
In this episode, Hala and Morgan will discuss:
0:00 - Intro
3:15 - Getting interested in finances
6:41 - The Skiing accident that changed his life
16:22 - Writing for the Motley Fool
19:38 - Learnings from James Clear and Atomic Habits
23:48 - How behavior can trump smarts
26:15 - Why finance is more like Psychology than Physics
30:07 - Setting goalposts
35:11 - The real purpose of building wealth
37:05 - Common emotional pitfalls around money
41:17 - Keeping VS getting money
43:24 - Patience and money
46:28 - What we can learn from Warren Buffet
48:00 - Investing Strategies
49:51 - New Book, Same as Ever
52:45 - Blind risks we take
56:48 - Pushing too far or fast in investing
1:00:06 - Why stress sometimes can be a good thing
1:03:19 - How incentives can trick us
1:05:29 - Permanent vs expiring information
1:06:50 - What we can learn from Bill Gates
1:08:46 - Morgan's secret to profiting in life
Morgan Housel is a partner at The Collaborative Fund. He's the author of the best-selling book The Psychology of Money. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, and winner of the New York Times Sidney Award. In 2022, MarketWatch named him one of the 50 most influential people in markets. He serves on the board of directors at Markel. His latest book is Same As Ever: A Guide to What Never Changes.
🌟Resources Mentioned🌟
➡️ Morgan’s Website: [ Ссылка ]
➡️ Morgan’s LinkedIn: [ Ссылка ]
➡️ Morgan’s Instagram: [ Ссылка ]
➡️ Morgan’s Twitter: [ Ссылка ]
➡️ Morgan’s Facebook: [ Ссылка ]
➡️ Morgan’s Podcast: [ Ссылка ]
➡️ Morgan’s Book, Same as Ever (2023): [ Ссылка ]
➡️ Morgan’s Book, The Psychology of Money (2020): [ Ссылка ]
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You’re watching Young and Profiting Podcast on Youtube, a place where you can Listen, Learn, and Profit. Welcome to the show. I’m your host, Hala Taha.
On Young and Profiting Podcast, we investigate a new topic each week and interview some of the brightest minds in the world.
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