Logo
    Search

    The Morgan Housel Podcast

    The Morgan Housel Podcast -- timeless lessons on wealth, greed, and happiness.

    en-usMorgan Housel44 Episodes

    Episodes (44)

    Lazy Work, Good Work

    Lazy Work, Good Work

    The most productive work you can do often looks like the laziest -- but it can be hard to accept that because of how the workplace has changed over the last 100 years. 

    The Morgan Housel Podcast
    en-usMay 24, 2024

    The Long Run Is Just A Collection of Short Runs

    The Long Run Is Just A Collection of Short Runs

    Every great idea can be taken too far. 

    Take the notion that investors should ignore the short run.

    It's important to recognize that the long run is just a collection of short runs, and capturing long-term growth means managing the short run effectively enough to ensure you can stick around for a long time.

    The Morgan Housel Podcast
    en-usMay 13, 2024

    Accountable to Darwin vs. Accountable to Newton

    Accountable to Darwin vs. Accountable to Newton

    Woodrow Wilson was the only president with a Ph.D. in political science.

    He came to office having thought more about how a government functions than most before him or since.

    One of his complaints was that too many people in government held the belief that it was a Big Machine: that once you set up a series of rules you could take your hands off the wheel and let the government run on its own forever. They viewed government like physics, with a set of customs and laws that required no updating or second-guessing because they were believed to be precise and perfect as they were.

    Wilson thought that was wrong. He viewed government as being a living thing that adapted and evolved. 

    I really don't care about politics. But he had a theory that I think is so important, and so applicable, to us ordinary people managing our money. 

    The Dumber Side of Smart People

    The Dumber Side of Smart People

    Mae West said, “Too much of a good thing can be wonderful.” That might be true for some things – health, happiness, golden retrievers, maybe.

    But in so many cases the thing that helps you can be taken to a dangerous level. And since it’s a “good thing,” not an obvious threat, its danger creeps into your life unnoticed.

    Take intelligence.

    How could someone possibly be too intelligent? How do you get to a point where you realize you could have been more successful if you had been a little dumber?

    Let me share three reasons why.

    And if you're looking for another podcast to listen to, check out The Rundown by my friends at Public.com. It's a quick five-minute listen that gets you all caught up on the latest in the stock market, the economy, and in crypto. Hope you enjoy it. 

    How to Engage With History

    How to Engage With History

    This episode discusses my take on what you should pay attention to when reading history. 

    There’s a quote I love from writer Kelly Hayes who says, “Everything feels unprecedented when you haven’t engaged with history.”

    It’s so true. History’s cast of characters changes but it’s the same movie over and over again.

    To me, the point of paying attention to history is not the specific details of certain events, which are always random and never repeat; it’s the big-picture behaviors that reoccur in different eras, generations, and societies.

    A Few Thoughts on Spending Money

    A Few Thoughts on Spending Money

    Behavioral finance is now well documented. But most of the attention goes to how people invest. But the study of how you spend money might be far more interesting -- and practical. How you spend money can reveal an existential struggle of what you find valuable in life, who you want to spend time with, why you chose your career, and the kind of attention you want from other people.

    There is a science to spending money – how to find a bargain, how to make a budget, things like that.

    But there’s also an art to spending. A part that can’t be quantified and varies person to person.

    Information That Would Get Your Attention

    Information That Would Get Your Attention

    There’s obviously a hierarchy of information. It ranges from life-changing good to life-changing disastrous.

    That got me thinking: What would be the most interesting and useful information anyone could get their hands on?

    Years ago I asked that question to Yale economist Robert Shiller. “The exact role of luck in successful outcomes,” he answered.

    I loved that answer, because nobody will ever have that information. But if you did, your entire worldview would change. Who you admire would change. The traits you think are needed for success would change. You would find millions of lucky egomaniacs and millions of unlucky geniuses. The fact that it’s impossible to possess this information doesn’t make it useless – just thinking about how powerful it would be to have it forces you to ponder a topic that’s important but easy to ignore.

    Keeping the idea that the most interesting information doesn’t have to be realistic – it can be impossible-to-obtain, magical-wish thinking – here are three other things that would get your attention.

    Active vs. Passive Learning

    Active vs. Passive Learning

    There are two big ways to learn: 

    Active learning: Someone tells you what to learn, how to learn it, on a set schedule, on pre-selected standardized topics.

    Passive learning: You let your mind wander with no intended destination. You read and learn broadly, talk to people from various backgrounds, and stumble haphazardly across topics you had never considered but spark your curiosity, often because it’s the topic you happen to need at that specific time of your life.

    I can’t be alone in realizing that most of what I’ve learned in life has come from passive learning.

    Respect Each Others’ Delusions

    Respect Each Others’ Delusions

    One sentence that knocked me off my feet when I read Will and Ariel Durant’s The Lessons of History was: "Learn enough from history to bear reality patiently, and respect one another’s delusions."

    I love that so much.

    The key here is accepting that everyone is deluded in their own unique way. You, me, all of us.

    When you realize that you – the good, noble, well-meaning, even-tempered, fact-driven person that you are – have views of how the world works that are sure to be incomplete if not completely wrong, you should have empathy for others whose deluded beliefs are obvious to you. I am such a fan of Daniel Kahneman’s observation that we are better at spotting other people’s flaws than our own.

    This episode shares three reasons why all of us become deluded in our own way. 

    The 10 Most Important Financial Skills

    The 10 Most Important Financial Skills

    My wife recently bought me an old book. It's called The Mathematical Theory of Investment. It was written in 1913 and it's as dry and boring as it sounds (but the old weathered cover looks awesome on a bookshelf). 

    I flipped through it and thought, "Does any of this matter?" These formulas, these charts, this data?

    Well, yes. 

    But not nearly as much as the soft, behavioral side of investing. 

    This episode shares 10 of what I think are the most critical financial skills -- none of which you'll find in a 100-year-old academic text. 

    Expiring vs. Permanent Skills

    Expiring vs. Permanent Skills

    Expiring skills tend to get more attention. They’re more likely to be the cool new thing, and a key driver of an industry’s short-term performance. They’re what employers value and employees flaunt.

    Permanent skills are different. They’ve been around a long time, which makes them look stale and basic. They can be hard to define and quantify, which gives the impression of fortune-cookie wisdom vs. a hard skill.

    But permanent skills compound over time, which gives them quiet importance. When several previous generations have worked on a skill that’s directly relevant to you, you have a deep well of relevant examples to study. And when you can spend a lifetime perfecting one skill whose importance never wanes, the payoffs can be ridiculous. Anything that compounds over decades usually is.

    This episode discusses a few permanent skills that apply to many fields.

    My New Book, Same As Ever: A Guide to What Never Changes

    My New Book, Same As Ever: A Guide to What Never Changes

    My new book, Same as Ever: A Guide to What Never Changes, is out today. 

    Books are hard, a multi-year slog from start to finish. But I’m excited for you to read this. I think it’s the best writing I’ve ever done. And it was fun to write! My hope is that you enjoy reading it half as much as I enjoyed writing it. 

    My first book, The Psychology of Money, was really about how you, the individual behave. Same As Ever is about how we, the collective, behave, and what we keep doing over and over. 

    It’s 23 short stories about what never changes in a changing world. 

    I’ve been thinking about this book for my entire career. I’ve always been skeptical of forecasts, because the world’s track record on predicting the next recession, the next election, or the next technology is so bad. That should draw you to the question: What’s never going to change?

    What do we know for certain is going to be part of our future? 

    Justifying Optimism

    Justifying Optimism

    All optimistic beliefs can be dangerous because they’re so comforting, so easy to accept without asking further questions. Hope often masquerades as optimism when you think things will improve only because the alternative is too scary to contemplate. 

    Every optimist needs to justify exactly why they're optimistic. In this episode, I offer my own three reasons. 

    Little Flaws

    Little Flaws

    Daniel Kahneman says, "The long-term success of a relationship depends far more on avoiding the negative than on seeking the positive."

    It's like that in so many areas of life. 

    Most people know what they're good at, or at least they think they do. Flaws, though, tend to be nuanced, and we're often blind to them. 

    This episode shares dozens of little flaws I often think about -- ones that are easy to ignore, but can compound into disasters over time. 

    Related Podcasts

    The Coffee and Collaborations Podcast

    The Coffee and Collaborations Podcast
    Welcome! We havw fun introducing you to the principles of the art & science of networking & collaboration throueh expert interviews with dynamic leaders and influencers, people who have learned to champion entrepreneurship, mentorship, coaching, are servants to their community, and generously help others to be successful and thrive!!! We have recently rebranded and added more value to the show by including experts in the areas of business scaling, communications, leadership, finance, and marketing that have thrived during tumultuous times and can share their expertise. Tune in, but don‘t forget to #grabyourcoffee 😉

    By: Kimberly Winborne

    Total Episodes: 100

    Topics:business

    Askerych Podcasts

    Askerych Podcasts
    Канал для маркетологов, стратегов, продактов и предпринимателей о маркетинговых исследования, маркетинге и консалтинге. Опыт, примеры, лайфхаки и наработки.

    By: Asker Askerov

    Total Episodes: 9

    Topics:business