Morgan Housel
@morganhouselMorgan Housel is a partner at Collaborative Fund and author of the book The Psychology of Money.
Expectations Debt
by Morgan Housel —I live in Seattle, and Amazon is our giant.
Read moreThe Spectrum of Financial Dependence and Independence
by Morgan Housel —“I did not intend to get rich.
Read moreVicious Traps
by Morgan Housel —There are times in nature when two plus two equals ten – when two little things combine to form one…
Read moreSome Things I Think
by Morgan Housel —The fastest way to get rich is to go slow.
Read moreOne Big Web: A Few Ways the World Works
by Morgan Housel —Joseph Tussman, a UC Berkeley philosophy professor, wrote in the 1960s that, “What the pupil must learn, if he learns…
Read moreWhat Makes You Happy
by Morgan Housel —Ernest Shackleton’s ship, the Endurance, became stuck in Antarctic ice.
Read moreMental Liquidity
by Morgan Housel —I recently heard a phrase I love: Mental liquidity.
Read moreAll Together Now
by Morgan Housel —The Brooklyn Bridge was the largest structure in the western hemisphere when it opened in 1883.
Read morePsychological Paths of Least Resistance
by Morgan Housel —When faced with a problem, rarely do people ask, “What is the best, perfect, answer to this question?”.
Read moreThe Luckier You Are The Nicer You Should Be
by Morgan Housel —An important skill – an incredibly hard one – is identifying when things in your life are temporarily too good…
Read moreHow It All Works (A Few Short Stories)
by Morgan Housel —A few short stories whose lessons apply to many things…
Read moreRisk and Regret
by Morgan Housel —David Cassidy’s last words were, “So much wasted time.”.
Read moreEverything You Can’t Have
by Morgan Housel —Nothing is as desired as much as the thing you want but can’t have.
Read moreFOMO: The Worst Financial Trait
by Morgan Housel —A funny thing about money is that it’s a negative art.
Read moreThe Art and Science of Spending Money
by Morgan Housel —Former General Electric CEO Jack Welch once nearly died of a heart attack.
Read moreJustifying Optimism
by Morgan Housel —What was the happiest day of your life…
Read moreWhy Competitive Advantages Die
by Morgan Housel —“No one has to tell you you’ve come to the right place.
Read moreIdeas That Changed My Life
by Morgan Housel —You spend years trying to learn new stuff but then look back and realize that maybe like 10 big ideas…
Read moreGetting Wealthy vs. Staying Wealthy
by Morgan Housel —Good investing is not necessarily about making good decisions.
Read moreA Few Good Stories
by Morgan Housel —I recently had lunch with a guy who’s close with Warren Buffett.
Read moreAttention
by Morgan Housel —In school they tell you your paper must be a minimum of five pages long.
Read moreVery Important and Hard to Teach
by Morgan Housel —The most important decisions in your life may be whether to marry, who to marry, and whether to have kids.
Read moreCumulative vs. Cyclical Knowledge
by Morgan Housel —President James Garfield died because the best doctors in the country didn’t believe in germs, probing Garfield’s bullet wound after…
Read moreExpectations and Reality
by Morgan Housel —In 2004 the New York Times interviewed Stephen Hawking, the late scientist whose motor-neuron disease left him paralyzed and unable…
Read moreLittle Rules About Big Things
by Morgan Housel —A few things I’ve come to terms with…
Read moreA Few Good Books
by Morgan Housel —A couple I’ve enjoyed lately…
Read moreExpectations (Five Short Stories)
by Morgan Housel —David Cassidy seemed to have the best life you could imagine.
Read moreEngaging With History
by Morgan Housel —In 1963, LIFE Magazine asked author James Baldwin where he gets his inspiration.
Read moreIt’s Supposed To Be Hard
by Morgan Housel —In 1990, David Letterman asked his friend Jerry Seinfeld how his new sitcom was going.
Read moreGood Enough
by Morgan Housel —Spare a thought for the poor guppy fish, who lives a miserable existence but teaches us something important about forecasting.
Read moreThree Big Things: The Most Important Forces Shaping the World
by Morgan Housel —An irony of studying history is that we often know exactly how a story ends, but have no idea where…
Read moreBig Beliefs
by Morgan Housel —A trick to learning a complicated topic is realizing how many complex details are a cousin of something simple.
Read moreRare Skills
by Morgan Housel —Three rare and powerful skills…
Read moreReality Catches Up
by Morgan Housel —An asset you don’t deserve can quickly become a liability.
Read moreTails, You Win
by Morgan Housel —Steamboat Willie put Walt Disney on the map as an animator.
Read moreLittle Ways The World Works
by Morgan Housel —If you find something that is true in more than one field, you’ve probably uncovered something particularly important.
Read moreLifestyles
by Morgan Housel —Fifty-four years ago this month, in a push for publicity, The Sunday Times offered £5,000 to whoever could sail solo…
Read moreWealth vs. Getting Wealthier
by Morgan Housel —Will Smith writes in his biography that…
Read moreKeep It Going
by Morgan Housel —A quick story about athletes and investors.
Read moreToo Far
by Morgan Housel —Every good idea and every admirable trait can be taken too far.
Read moreOnce In A Lifetime
by Morgan Housel —I want to try to explain part of why the world seems so crazy these days.
Read moreDifferent Kinds of BS
by Morgan Housel —There are three important facts about bullshit: It’s everywhere, it’s influential, and it’s dangerous.
Read moreEndless Uncertainty
by Morgan Housel —The night before the D-Day invasion, a nervous Franklin Roosevelt asked his wife Eleanor how she felt about not knowing…
Read moreObvious Things That Easily Escape Attention
by Morgan Housel —Dr. Watson walks into a room, and Sherlock Holmes instantly accuses him of hanging out in the club all day.
Read moreTrying Too Hard
by Morgan Housel —Thomas McCrae was a young 19th Century doctor still unsure of his skills.
Read moreA Few Beliefs
by Morgan Housel —Having your views confirmed is a powerful and addictive drug.
Read moreThe Rich And The Wealthy
by Morgan Housel —Reggie Vanderbilt was born into a family of bitter feuds, fragile egos, and impossible expectations.
Read moreNever Saw It Coming
by Morgan Housel —People are very good at forecasting the future, except for the surprises, which tend to be all that matter.
Read moreStaying Put
by Morgan Housel —A lot of good ideas are ignored because they’re only occasionally useful.
Read moreDeep Roots
by Morgan Housel —Forecasting is hard because it’s easy to skip the question, “And then what?”.
Read moreHow People Think
by Morgan Housel —One hundred billion people have walked this planet.
Read moreLow Expectations
by Morgan Housel —Elon Musk said he had lunch with Charlie Munger in 2009.
Read moreSurprise, Shock, and Uncertainty
by Morgan Housel —A couple things I’ve been thinking about in the last week…
Read moreNow You Get It
by Morgan Housel —Historian Stephen Ambrose writes about World War II soldiers who left basic training full of bravado and confidence, eager to…
Read moreMakes You Think
by Morgan Housel —A few lines I came across recently that got me thinking…
Read moreSix Questions For Derek Thompson
by Morgan Housel —Derek Thompson is one of my favorite writers.
Read moreAfter The Fact
by Morgan Housel —Let’s say you exercise an hour a day, seven days a week.
Read moreFluke
by Morgan Housel —Forecasting is hard. And not because people aren’t smart, but because trivial accidents can be influential in ways that are…
Read moreBig Skills
by Morgan Housel —Scott Adams, the Dilbert creator, says he doesn’t have any extraordinary skills.
Read moreCasualties of Your Own Success
by Morgan Housel —Evolution is good at what it does.
Read moreWhat A World
by Morgan Housel —A few short stories…
Read moreI Have A Few Questions
by Morgan Housel —They’re relevant to everyone, and apply to lots of things…
Read moreGood Books
by Morgan Housel —The Patriarch. An incredible biography of Joseph Kennedy, who lived one of the most interesting lives in American history.
Read moreAssured Misery
by Morgan Housel —People tend to know what makes them angry with more certainty than what might make them happy.
Read moreHow This All Happened
by Morgan Housel —This is a short story about what happened to the U.S.
Read moreExperts From A World That No Longer Exists
by Morgan Housel —The biggest risk to an evolving system is that you become bogged down by experts from a world that no…
Read moreThe Same Stories, Again and Again
by Morgan Housel —During the depths of the Great Depression in 1932 an Ohio lawyer named Benjamin Roth wrote in his diary…
Read moreInternal vs. External Benchmarks
by Morgan Housel —There are two ways to measure how you’re doing: Against yourself and against others.
Read moreIt Sounds Crazy
by Morgan Housel —A big part of almost every story in history is that expectations move slower than facts.
Read moreNature Shows How This All Works
by Morgan Housel —Two little stories from nature that teach us a few things about investing…
Read moreDangerous Feelings
by Morgan Housel —Success has a nasty tendency to increase confidence more than ability.
Read moreHistory’s Seductive Beliefs
by Morgan Housel —The biggest takeaway from history is that the characters change but their behaviors don’t.
Read moreA Number From Today and A Story About Tomorrow
by Morgan Housel —Every forecast takes a number from today and multiplies it by a story about tomorrow.
Read moreLittle Flaws
by Morgan Housel —Not realizing that inarticulate, uneducated, obnoxious, unqualified, and crazy people sometimes have the right answers.
Read moreRules, Truths, Beliefs
by Morgan Housel —The luckier you are the nicer you should be.
Read moreHanging By A Thread
by Morgan Housel —A big lesson from history is how chance encounters lead to both magic and mayhem in ways that would have…
Read moreOther People’s Mistakes
by Morgan Housel —George Carlin once joked how easy it is to spot stupid people.
Read moreThe Highest Forms of Wealth
by Morgan Housel —Wealth is easy to measure but hard to value.
Read moreToo Smart
by Morgan Housel —“One of the most persistent fallacies is the reflexive association of wealth with wisdom,” Ed Borgato once wrote.
Read moreMoney Rules
by Morgan Housel —Barry Ritholtz asked people for their top 10 money rules last week.
Read moreLittle Stories
by Morgan Housel —The Battle of Long Island was a disaster for George Washington’s army.
Read moreHow to Do Long Term
by Morgan Housel —Long-term thinking is easier to believe in than accomplish.
Read moreThe Optimal Amount of Hassle
by Morgan Housel —Steven Pressfield wrote for 30 years before publishing The Legend of Bagger Vance.
Read morePlay Your Own Game
by Morgan Housel —Michael Jordan said he had to reconstruct his body when he went from basketball to baseball back to basketball.
Read moreThe Limits of Investing Sanity
by Morgan Housel —Jerry Seinfeld had the most popular show on TV.
Read moreThe Spectrum of Optimism and Pessimism
by Morgan Housel —At one end you have the pure optimist.
Read moreA Few Short Stories
by Morgan Housel —Thirty-seven thousand Americans died in car accidents in 1955, six times today’s rate adjusted for miles driven.
Read moreThe Big Lessons of the Last Year
by Morgan Housel —History is one damned thing after another.
Read moreFive Investing Powers
by Morgan Housel —Rare and helpful…
Read moreInvesting: The Greatest Show On Earth
by Morgan Housel —Let me share two quick stories that have nothing to do with investing.
Read moreThe Fed Isn’t Printing As Much Money As You Think
by Morgan Housel —The risk of rising inflation over the next few years is probably the highest it’s been in decades.
Read moreWhen Everyone’s a Genius (A Few Thoughts on Speculation)
by Morgan Housel —The end of a speculative boom can be inevitable but not predictable.
Read moreA Few Good Books
by Morgan Housel —Some good ones I’ve read lately…
Read moreUnfortunate Investing Traits
by Morgan Housel —Napoleon’s definition of a military genius was “The man who can do the average thing when everyone else around him…
Read moreWhy It’s Usually Crazier Than You Expect
by Morgan Housel —I want to try to explain why Gamestop went up 100-fold in the last year and why Sears never recovered.
Read morePersonal Finance Philosophies
by Morgan Housel —It can happen to you.
Read moreA Few Thoughts On Writing
by Morgan Housel —You have five seconds to get people’s attention.
Read moreTwo Worlds: So Much Prosperity, So Much Skepticism
by Morgan Housel —The demand for forecasts grows after a surprise.
Read moreLast Man Standing
by Morgan Housel —Amazon in 2014 was a puzzle.
Read moreA Few Things I’m Pretty Sure About
by Morgan Housel —If something is impossible to know you are better off not being very smart, because smart people fool themselves into…
Read moreThe Reasonable Optimist
by Morgan Housel —Germany’s GDP fell by more than half in 1945, when the end of World War II left a pile of…
Read moreWe Have No Idea What Happens Next
by Morgan Housel —To grasp how hard it is to predict what will happen after the world is thrown upside down – as…
Read moreThe Big Lessons From History
by Morgan Housel —There are two kinds of history to learn from.
Read moreAccountable to Darwin vs. Accountable to Newton
by Morgan Housel —Woodrow Wilson was the only president with a Ph.D.
Read moreCommon Causes of Very Bad Decisions
by Morgan Housel —Italian psychologist Massimo Piattelli-Palmarini was once asked why people keep making the same mistakes.
Read moreA Few Rules
by Morgan Housel —The person who tells the most compelling story wins.
Read moreWhat We’re Reading
by Morgan Housel —Speed of innovation…
Read moreObvious Things That Are Easy To Ignore
by Morgan Housel —“The world is full of obvious things which nobody ever observes,” says Sherlock Holmes.
Read moreBook: The Psychology of Money
by Morgan Housel —My book, The Psychology of Money, is now out.
Read moreSave Like A Pessimist, Invest Like An Optimist
by Morgan Housel —In 1984 Jane Pauley interviewed 28-year-old Bill Gates.
Read moreAlternative Forms of Wealth
by Morgan Housel —Covid has forced many of us to spend unprecedented amounts of time with a few people (spouses, kids, roommates).
Read moreExpiring vs. Permanent Skills
by Morgan Housel —Robert Walter Weir was one of the most popular instructors at West Point in the mid-1800s.
Read moreThe Three Sides of Risk
by Morgan Housel —I grew up ski racing in Lake Tahoe.
Read moreHere We Are: 5 Stories That Got Us To Now
by Morgan Housel —Three days after Ronald Reagan was inaugurated in 1981, New York City Council President Carol Bellamy joined a group of…
Read moreWhat Always Changes
by Morgan Housel —A few things that always change, never staying in one place for long…
Read moreThe Ugly Scramble
by Morgan Housel —A truth in one field often shines a light on another.
Read moreGood Things Taken Too Far
by Morgan Housel —Penicillin is probably the most important discovery of the last 100 years.
Read moreLots of Things Happening At Once
by Morgan Housel —“Steve [Jobs] and I will always get more credit than we deserve, because otherwise the story gets too complicated,” Bill…
Read moreNever The Same
by Morgan Housel —Things are different now.
Read moreSame As It Ever Was
by Morgan Housel —This is a few short stories about things that never change in a world that never stops changing.
Read morePermanent Assumptions
by Morgan Housel —If you were told in January what April would look like, you wouldn’t have believed it.
Read moreWhy We’re Blind to Probability
by Morgan Housel —The idea that something can be likely and not happen, or unlikely and still happen, is one of the world’s…
Read moreAcceptable Flaws
by Morgan Housel —Life is a little easier if you expect a certain percentage of it to go wrong no matter how hard…
Read moreWhat Have We Learned Here?
by Morgan Housel —A few things revealed in recent months.
Read moreWhen You Have No Idea What Happens Next
by Morgan Housel —Do we know more about what’s going to happen in the next 12 months today than we did in January…
Read moreWhat’s Different This Time
by Morgan Housel —John Templeton famously said, “The four most dangerous words in investing are: ‘It’s different this time.”.
Read moreWho Pays For This?
by Morgan Housel —The federal government will run a $3.8 trillion deficit this year and $2.1 trillion next year.
Read moreWhat Next? (Two Questions)
by Morgan Housel —Desire for economic forecasts surges right when our ability to accurately forecast plunges.
Read moreThe Shock Cycle
by Morgan Housel —At first you don’t see bad news, because it starts small and isn’t reported in traditional outlets.
Read moreWhy Time Has Slowed
by Morgan Housel —Time seems to have slowed down.
Read moreTwo Things Can Be True At Once
by Morgan Housel —“How are you holding up?”.
Read moreCommon Enemies
by Morgan Housel —Everyone wants a map. Just a simple guide to what’s going to happen next.
Read moreTwo Things We Know With High Confidence
by Morgan Housel —Unknowns exceed knowns even in the best of times.
Read moreCorona Panic (Part II)
by Morgan Housel —Lots of things now seem obvious in hindsight.
Read moreDifferent Kinds of Decline
by Morgan Housel —Decline is everywhere these days.
Read moreWe’ll Get Through This
by Morgan Housel —In the 1930s an Ohio lawyer named Benjamin Roth kept a detailed diary about what he saw during the Great…
Read moreDeath, Taxes, and Three Other Inevitable Things
by Morgan Housel —Life guarantees…
Read moreCorona Panic
by Morgan Housel —It’s OK to not have an opinion on topics you don’t know anything about.
Read more100 Little Ideas
by Morgan Housel —A list of ideas, in no particular order and from different fields, that help explain how the world works…
Read moreHistory is Only Interesting Because Nothing is Inevitable
by Morgan Housel —Nothing that’s happened had to happen, or must happen again.
Read moreUseful Laws of the Land
by Morgan Housel —The most important ideas are those that apply to multiple fields.
Read moreDifferent Kinds of Easy
by Morgan Housel —Jeff Immelt left General Electric in worse shape than he found it.
Read moreWhat I Believe Least
by Morgan Housel —Belief doesn’t have to be black or white.
Read more2020: What a Time To Be Alive
by Morgan Housel —A common theme in history is that progress happens too slowly to notice while setbacks happen too quickly to overlook.
Read moreUseful Hacks
by Morgan Housel —“You can’t produce a baby in one month by getting nine women pregnant.
Read moreThe Psychology of Prediction
by Morgan Housel —During the Vietnam War Secretary of Defense Robert McNamara tracked every combat statistic he could, creating a mountain of analytics…
Read moreHow to Read: Lots of Inputs and a Strong Filter
by Morgan Housel —My reading strategy is to start as many books as I can but finish few of them.
Read moreNo More Gurus
by Morgan Housel —Avianca flight 052, from Medellin to New York, was circling JFK for landing in bad weather.
Read moreCommon Plots of Economic History
by Morgan Housel —Complicated stuff can stem from a handful of common roots.
Read moreThe Spectrum of Wealth
by Morgan Housel —Chris Rock joked that Bill Gates would jump out the window if he woke up with Oprah’s money.
Read moreUseful Biases
by Morgan Housel —There was a time when psychology was all about helping people get from bad to normal.
Read moreWhy New Technology Is A Hard Sell
by Morgan Housel —Let me tell you about the only time in history a new technology has been adopted by almost everyone virtually…
Read moreWeWork Lessons That Apply To Lots of Stuff
by Morgan Housel —No company or investment strategy is proven until it’s survived a calamity.
Read moreFat, Happy, And In Over Your Head
by Morgan Housel —Having more than you need can be a liability masquerading as an advantage, and no sense of “enough” can look…
Read moreImmutable Truths and Arguing Fools
by Morgan Housel —There are a few things that are so obviously true, and true for everyone, that no one argues about them.
Read moreShort Investing Beliefs
by Morgan Housel —Expecting crazy > expecting average, because the important part of “reversion to the mean” is the reversion, not the mean.
Read moreYou Better Love This
by Morgan Housel —Something stupid you can stick with will probably outperform something smart that you’ll burn out on.
Read moreWhat We’re Reading
by Morgan Housel —Student loans…
Read moreWhy Complexity Sells
by Morgan Housel —This is a trilobite on the left.
Read moreThe Laws of Investing
by Morgan Housel —Think of how big the world is.
Read moreUniversal Laws of the World
by Morgan Housel —If something is true in one field it’s probably true in others.
Read moreInseparable Pairs
by Morgan Housel —Hundreds of books and movies have depicted World War II.
Read moreWhy Things Break: Easy Causes of Business and Investing Failure
by Morgan Housel —Tens of billions of individual steps have to go right in the correct order to create a human.
Read moreA Few Thoughts On Public Speaking
by Morgan Housel —Next week I’ll give my 100th investing talk in London.
Read moreFinancial Advice For My New Daughter
by Morgan Housel —My wife and I welcomed a daughter into the world yesterday.
Read moreGood Ideas Can’t Be Scheduled
by Morgan Housel —“I don’t know why people keep using one-year earnings,” economist Robert Shiller once said.
Read moreRealistic Personal Finance Hacks
by Morgan Housel —Hacks are hard because shortcuts rarely exist.
Read moreDegrees of Confidence
by Morgan Housel —Take a person who is confident in something they know nothing about.
Read moreFive Lessons from History
by Morgan Housel —The most important lessons from history are the takeaways that are so broad they can apply to other fields, other…
Read moreUseful and Overlooked Skills
by Morgan Housel —On his way to be sworn in as the most powerful man in the world, Franklin Delano Roosevelt had to…
Read moreYou Played Yourself
by Morgan Housel —Medicine used to be all about biology.
Read moreWhen You’ll Believe Anything
by Morgan Housel —Ali Hajaji’s son was sick.
Read moreYou Have To Live It To Believe It
by Morgan Housel —Richard Held and Alan Hein raised 20 kittens in pitch black darkness.
Read moreFees vs. Fines
by Morgan Housel —The last three months of 2018 was the worst quarter for stocks in seven years.
Read moreDifferent Kinds of Information
by Morgan Housel —An 1890 Oxford entrance exam question read: “Give some account of the life of Mary, the mother of our Lord.”.
Read moreWe Don’t Build Enough Homes
by Morgan Housel —At least relative to history…
Read moreDeath, Taxes, and a Few Other Things
by Morgan Housel —Life guarantees…
Read moreThe Value of College
by Morgan Housel —Big life lessons on display in the last few years: Don’t lie to the FBI.
Read moreCounterintuitive Competitive Advantages
by Morgan Housel —This is all that’s left of the Irish elk.
Read moreRecessions: It’s Been a While
by Morgan Housel —It’s been a while since we’ve had a recession…
Read morePure Downside, No Silver Lining
by Morgan Housel —There are no exceptions to Newton’s third law of physics.
Read moreNot Caring: A Unique and Powerful Skill
by Morgan Housel —Jiddu Krishnamurti was an Indian philosopher.
Read moreWhat Else Matters?
by Morgan Housel —Here’s what happened to a bunch of big economies over the last 30 years…
Read moreDifferent Kinds of Stupid
by Morgan Housel —“The older I get the more I realize how many kinds of smart there are.
Read moreShort Money Rules
by Morgan Housel —Above-average results require not being afraid of looking wrong.
Read moreWhy Time Horizon Works
by Morgan Housel —Ben Graham said, “In the short run the market is a voting machine but in the long run it’s a…
Read moreWhere Big Leaps Happen
by Morgan Housel —The Bronze Age was a big leap forward because it was one of the first times humans learned how to…
Read moreOrigins of Greed and Fear
by Morgan Housel —Greed and fear control everything in investing.
Read moreThe Biggest Returns
by Morgan Housel —The biggest energy story of the last four decades has nothing to do with oil or gas.
Read moreWhen It’s Time To Do Something
by Morgan Housel —The Department of Homeland Security created terrorism warning codes after 9/11.
Read moreThings I’m Pretty Sure About
by Morgan Housel —A few things I’ve been thinking about lately ….
Read moreWild Expectations
by Morgan Housel —Expectations were not high for Harry Truman when he became president in 1945.
Read moreInvesting Ideas That Changed My Life
by Morgan Housel —You spend years trying to learn new stuff but then look back and realize just a few big ideas changed…
Read moreAn Interpretation of Stated Odds
by Morgan Housel —100% odds: Either accurate and nothing you can do about it or inaccurate and self-deluded.
Read moreDrip, Drip, Drip
by Morgan Housel —“This year,” says the narrator, “thanks to Hitler and Hirohito, taxes are higher than ever before.
Read moreSelfish Writing
by Morgan Housel —Howard Marks’ book The Most Important Thing has sold three-quarters of a million copies.
Read moreWhen Things Get Wild
by Morgan Housel —Every past decline looks like an opportunity, every future decline looks like a risk.
Read moreHumble Exits
by Morgan Housel —Jack Welch allegedly passed a note across the table to Jerry Seinfeld.
Read moreRube Goldberg
by Morgan Housel —Here’s what happens when interest rates rise.
Read moreHaste Makes Waste
by Morgan Housel —I’m going to try to explain what’s going on in VC.
Read moreTime Horizon vs. Endurance
by Morgan Housel —BlackRock CEO Larry Fink once told a story about having dinner with the manager of one of the world’s largest…
Read moreRisk Management
by Morgan Housel —Risk management starts with what Jeff Bezos calls the “regret minimization framework.” Project yourself to age 80, or age 90.
Read moreDifferent Kinds of Smart
by Morgan Housel —“The older I get the more I realize how many kinds of smart there are.
Read moreFool Me Three Times And I Give Up
by Morgan Housel —The most significant part of the financial crisis that peaked ten years ago this month was that it took place…
Read moreLong-Term News
by Morgan Housel —NEW YORK – In what analysts called “the most important economic metric that exists,” 360,000 people were born yesterday, 78%…
Read moreNewcomers
by Morgan Housel —Author Robert Coram once wrote about military promotions…
Read moreConcealed Emotions
by Morgan Housel —Two forces control every investment market: 1) money is emotional, 2) most people don’t think they’re emotional.
Read morePeople vs. Companies
by Morgan Housel —One month after Japan surrendered World War II, General Douglas MacArthur met Japanese emperor Hirohito.
Read moreThe Trajectory of Great Ideas
by Morgan Housel —One day you wake up and realize you have a great idea.
Read moreNatural Maniacs
by Morgan Housel —I’m going to try to explain Elon Musk’s behavior.
Read moreAppealing Fictions
by Morgan Housel —“What was the happiest day of your life…
Read moreReal World vs. Book Knowledge
by Morgan Housel —Archibald Hill just wanted to know how fast he could run.
Read moreMindsets: Optimism vs. Complacency vs. Pessimism
by Morgan Housel —A real optimist wakes up every morning knowing lots of stuff is broken, and more stuff is about to break.
Read moreThe Lifecycle of Greed and Fear
by Morgan Housel —All greed starts with an innocent idea: that you are right, deserve to be right, or are owed something for…
Read moreImmeasurably Important
by Morgan Housel —Robert McNamara was hired by Henry Ford II to help turn Ford Motor around.
Read moreLittle Money Rules
by Morgan Housel —Emotions can override any level of intelligence.
Read moreTheranos Lessons
by Morgan Housel —Fifteen months before his Ponzi scheme unraveled, Bernie Madoff made an astounding comment.
Read moreRepeating Themes
by Morgan Housel —Franklin Delano Roosevelt looked around the room and chuckled when his presidential library opened in 1941.
Read moreThe Psychology of Money
by Morgan Housel —Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in…
Read more“If I Were Wrong, What Would It Look Like?”
by Morgan Housel —Lakshman Achuthan went on TV in 2011 and predicted a recession was near.
Read moreIf Collaborative Fund Invested in Public Stocks
by Morgan Housel —What if we could merge a private-markets mindset with public-market opportunities…
Read moreNobody Planned This, Nobody Expected It
by Morgan Housel —The Battle of Stalingrad was the largest battle in history.
Read moreEveryone Needs Help
by Morgan Housel —A fascinating part of VC is sitting on the board of directors of companies you invest in.
Read moreRules in the Textbooks, Guidelines in the Trenches
by Morgan Housel —A study three years ago figured out how to save more than 100,000 lives a year.
Read moreSome Things I’m Pretty Sure About
by Morgan Housel —I increasingly don’t believe in gurus, in any field.
Read moreAn Art Leveraging A Science
by Morgan Housel —Albert Einstein’s favorite idea was called gedankenerfahrung.
Read moreHow to Talk to People About Money
by Morgan Housel —Clarence Hughes went to the dentist in 1931.
Read moreIronies of Luck
by Morgan Housel —Paul Tudor Jones was one of the most successful traders in the world.
Read moreExpectations vs. Forecasts
by Morgan Housel —I expect there to be one or two recessions per decade.
Read moreWhy I’m Bullish on Gen Z
by Morgan Housel —The oldest millennials are in their late 30s.
Read moreMaking Sense vs. Being Right
by Morgan Housel —People tend to care about something making sense more than they care about something being right.
Read moreIt’s Hard To Predict How You’ll Respond To Risk
by Morgan Housel —I grew up with a friend who came from neither privilege or natural intellect, but was the hardest-working guy I…
Read moreThe Thin Line Between Bold and Reckless
by Morgan Housel —Cornelius Vanderbilt had just finished a series of business deals to expand his railroad empire.
Read moreRisky Business
by Morgan Housel —Most things are going well for most investors.
Read moreThe Thrill of Uncertainty
by Morgan Housel —By the end of the study, pigeons were pecking a food lever up to five times per second “for as…
Read moreMaking History By Doing Nothing
by Morgan Housel —Anthony Eden had just finished resigning as prime minister of the United Kingdom.
Read moreThe Greatest Story Ever Told
by Morgan Housel —Capitalism’s success is built on a belief – a story – that, given the right incentives, people can work together…
Read moreSolving Hard Problems With Simple Ideas
by Morgan Housel —To wrap your head around how good we are at solving hard problems with simple solutions, consider how much of…
Read moreHow To Read Financial News
by Morgan Housel —October 27th, 1929.
Read moreWhat We’re Reading
by Morgan Housel —A few good articles the Collab team came across this week ….
Read moreConflicting Skill Sets
by Morgan Housel —F. Scott Fitzgerald said intelligence is “the ability to hold two opposing ideas in your head at the same time…
Read moreGreat Products vs. Great Businesses
by Morgan Housel —In January 2004, when Facebook was a days-old dorm room project, Mark Zuckerberg was asked by a friend whether he…
Read moreThankful for What Didn’t Happen
by Morgan Housel —I’m thankful for family, friends, good health, etc.
Read moreWe’re All Innocently Out of Touch
by Morgan Housel —Seven billion people on this planet share a flaw: They’re out of touch with almost everyone else.
Read moreNever Do That Again
by Morgan Housel —On November 12, 2001, American Airlines flight 587 took off from JFK with 260 people onboard, en route to the…
Read moreWhat I Read (And Why)
by Morgan Housel —Paul Volcker once joked that the ATM is the only useful financial invention of the last 50 years.
Read moreThe Freakishly Strong Base
by Morgan Housel —The earth used to be covered in ice.
Read moreThe Full Reset
by Morgan Housel —To understand the power of starting clean, you have to know the nuance of why the Nazi military became as…
Read moreThe Theory of Maybes
by Morgan Housel —Isaac Newton was a scientific genius at a time when scientists were often denounced as heretics.
Read moreA Decade Watching the Craziest Game
by Morgan Housel —Investing is the craziest game I’ve ever seen.
Read moreThe Shallow Benefit of Deep Liquidity
by Morgan Housel —At some point in the last few years high-frequency traders began using picoseconds to measure the time needed to execute…
Read moreSaving Money and Running Backwards
by Morgan Housel —Wealth has a curse. It’s called the hedonic treadmill.
Read moreHow To Make The Economy Grow
by Morgan Housel —The Gary Works steel plant in Gary, Indiana, is the largest steel mill in North America.
Read moreSkills vs. Behavior
by Morgan Housel —Walk into a music store in the 1970s, and you were almost certainly looking at a product made by General…
Read moreMake Your Point and Get Out of the Way
by Morgan Housel —No one likes their time wasted.
Read moreThe Four Fundamental Skills of All Investing
by Morgan Housel —In his book Succeeding, John Reed wrote one of the smartest things I’ve ever read…
Read moreOvercoming Your Demons
by Morgan Housel —Seven years ago this month I was at an investing conference in Vancouver.
Read moreWhat I Learned in the Last year
by Morgan Housel —This is how it started…
Read moreThe Unsolvable Puzzle
by Morgan Housel —Leo Szilard was one of the smartest people of the 20th Century.
Read moreWhy Everyone Should Write
by Morgan Housel —Everyone should write. You know why? Because everyone is full of ideas they’re not aware of.
Read moreAn Honest Business News Update
by Morgan Housel —NEW YORK – The S&P 500 closed at a new high on Wednesday in what analysts hailed as the accumulated…
Read moreThe Most Dangerous Kind of Learning
by Morgan Housel —Thomas McCrae was a young 19th Century doctor still unsure of his skills.
Read moreThis is Hard Because Nothing is Black or White
by Morgan Housel —Business is not easy. Investing is not easy.
Read moreBetting on Things That Never Change
by Morgan Housel —Amazon launched 22 years ago this week.
Read moreEvery Great Investment Hurts
by Morgan Housel —Jeff Immelt stepped down as CEO of General Electric last month.
Read moreWhat I Believe Most
by Morgan Housel —Ten things that guide almost everything I think about in business and investing…
Read moreSustainable Sources of Competitive Advantage
by Morgan Housel —This article originally appeared on Fortune.com.
Read moreThe Best Simple Business Models
by Morgan Housel —Most CEOs are very smart.
Read moreThe Reasonable Formation of Unreasonable Things
by Morgan Housel —Few things have as much impact on your lifetime investment returns as the decisions you make during bubbles.
Read moreThe Seduction of Pessimism
by Morgan Housel —Pessimism is intellectually seductive in a way optimism only wishes it could be.
Read moreThe Power of Failing Well
by Morgan Housel —Amazon’s Fire Phone was a failure.
Read moreJay Regan, Investing Pioneer, on Hedge Funds, Fees, and Competitive Markets
by Morgan Housel —Ed Thorp wrote the book Beat the Dealer in 1962.
Read moreExpiring vs. Long-Term Knowledge
by Morgan Housel —How much of what you read today will you still care about a year from now…
Read moreBad Experiences
by Morgan Housel —To understand how we process risk, you have to know the story of Austria’s 40-year-old nuclear power plant that has…
Read moreThe Advantage Of Being A Little Underemployed
by Morgan Housel —To realize how outdated the five-day, 40-hour workweek is, you have to know where it came from.
Read more23 Books That Changed My Life
by Morgan Housel —Google researchers tried to count how many books have been published.
Read moreA Simple Guide to the End of the Boom
by Morgan Housel —Few answers to questions have as bad a track record as “What is the economy going to do next?”.
Read moreStories vs. Statistics
by Morgan Housel —Air travel plunged after September 11th 2001.
Read moreStaying Competitive as the World Changes
by Morgan Housel —Capitalism is one big competition.
Read moreStress and Comfort: Careful What You Wish For
by Morgan Housel —The summer of 1932 was the darkest period the American economy had ever seen.
Read moreShort Investing Rules
by Morgan Housel —1. Define what you’re incapable of and stay away from it.
Read moreWhat We Said When the World Changed
by Morgan Housel —Few things transformed the 20th century like the car and the airplane.
Read moreRisk is How Much Time You Need
by Morgan Housel —One of the craziest things about investing is that you can be wrong half the time and still do well.
Read moreSix Questions for Brent Beshore
by Morgan Housel —Brent Beshore is one of the most impressive people I’ve met.
Read moreBusy vs. Productive
by Morgan Housel —“What is the gravest crisis facing the American people in the year ahead?”.
Read moreBusiness Advice From a One Year Old
by Morgan Housel —The day after he was born, I wrote my son a list of money advice.
Read moreSurviving the Continuous Chain of Disappointments
by Morgan Housel —Ed Thorp was the first person to systematically beat casinos at blackjack.
Read moreMultiple Points of View
by Morgan Housel —We all have different jobs in different companies in different industries.
Read moreGetting Rich vs. Staying Rich
by Morgan Housel —Abraham Germansky was a multimillionaire real estate developer in 1920s.
Read moreThe Making of a Brand
by Morgan Housel —An amazing thing about life before 1850 is that most people never experienced a world more than a few dozen…
Read moreEveryone Is Still Learning
by Morgan Housel —Phil Knight started Nike in the 1970s.
Read moreBusiness Lessons From Other People’s Jobs
by Morgan Housel —My friend Patrick O’Shaughnessy is a professional investor with a book club.
Read moreYou Can See Where This is Going
by Morgan Housel —More than $30 trillion will be transferred from baby boomers to their children in the coming decades.
Read moreHow To Read
by Morgan Housel —“In my whole life, I have known no wise people who didn’t read all the time,” says Charlie Munger.
Read moreA Chat With Daniel Kahneman
by Morgan Housel —I attended a dinner last night with Daniel Kahneman, the psychologist who won the Nobel Prize in economics and the…
Read moreSix Questions for Shane Parrish
by Morgan Housel —Shane Parrish is one of the smartest people I know.
Read moreGrandmasters of Work
by Morgan Housel —Garry Kasparov lost to IBM’s Deep Blue computer in 1997.
Read moreThe Difference Between Impatience and Having No Tolerance for Inefficiency
by Morgan Housel —Someone asked me last month why millennials are so impatient.
Read moreNew Year’s Acceptances
by Morgan Housel —Rather than resolutions, I want to come to terms with a few things in 2017.
Read moreThe Power of Brutal Honesty
by Morgan Housel —Matthias Rothmund left a surgical clamp inside a patient, which is the kind of thing you’d think would hurt a…
Read moreThe Tyranny of Improvement
by Morgan Housel —There is no evidence that mammographers make better diagnoses as they gain experience.
Read moreLazy Work, Good Work
by Morgan Housel —John D. Rockefeller was the most successful businessman of all time.
Read moreThe Art and Science of Investing
by Morgan Housel —Technology is a science. It’s semiconductors and code and batteries.
Read moreThe Bad Side of a Good Idea
by Morgan Housel —The number of publicly traded U.S.
Read moreWriting Lessons for a Better Life
by Morgan Housel —Writing is one of those things you’ll need to be decent at no matter what business you’re in.
Read moreThe Best Way to Fund Your Business
by Morgan Housel —Your business needs money.
Read moreThe Difference Between a Statistic and a Fact
by Morgan Housel —A simple idea that helps explain a lot of disagreements is that there’s a difference between a statistic and a…
Read moreOverlooked Truths of Business and Investing Success
by Morgan Housel —Here are a few things that generally aren’t taught in school but I’ve noticed are vital in business and investing…
Read moreFour Things I Learned from the Book “What I Learned Losing a Million Dollars”
by Morgan Housel —The investment industry is short on three things…
Read moreHow Investors Should Deal With Surprises
by Morgan Housel —Psychologist Daniel Kahneman said something really smart on a recent podcast with Barry Ritholtz…
Read moreThe New Business Strategy: Be A Little Nicer To Everyone
by Morgan Housel —Craig Shapiro.
Read moreThe Long Run Is Just A Collection of Short Runs
by Morgan Housel —Every great idea can be taken too far.
Read moreWhat’s Something You Strongly Believe That’s Likely Wrong?
by Morgan Housel —Let’s agree on three things…
Read moreThe Most Complicated Simple Problems
by Morgan Housel —“Investing isn’t complicated. You just buy stocks when they sell for less than they’re worth.”.
Read moreThe Most Overlooked Trait of Investing Success
by Morgan Housel —I once asked a doctor: What’s the hardest part of your job…
Read moreExplaining Old Products To My Son
by Morgan Housel —My son turns one next week.
Read moreThe Difference Between a Bubble and a Cycle
by Morgan Housel —Brace yourself.
Read moreToday’s Innovations Are Tomorrow’s Baseline
by Morgan Housel —Tony Hawk was the best skateboarder of all time.
Read moreThe Hierarchy of Earning Profit
by Morgan Housel —The joke has been around for years…
Read moreGet Rid of the Boring
by Morgan Housel —“If you were financially independent – say you had $100 million – would you still work here?”.
Read moreOld World, New World
by Morgan Housel —Here’s an iron rule of economics…
Read moreWhat A Time to Be Alive
by Morgan Housel —John D. Rockefeller was the richest man the world had ever seen.
Read moreGood News: There’s Nowhere Left to Hide
by Morgan Housel —Here’s my theory.
Read moreSimple Rules of Capitalism
by Morgan Housel —You can’t accurately describe how complicated the global economy is.
Read moreWhen You Change the World and No One Notices
by Morgan Housel —Do you know what’s happening in this picture? Literally one of the most important events in human history.
Read more