Personal Development

Morgan Housel — Contrarian Cash and Writing Recommendation, Three Easy Targets to Information Your Life, Journaling Prompts, Selecting the Proper Sport to Play, Should-Learn Books, and Extra (#702)

1 November 2023
Bourahima


Illustration by way of 99designs

“I’m not curious about something that’s not sustainable. Friendships, investing, careers, podcasts, studying habits, train habits. If I can’t maintain it going, I’m not curious about it.“

— Morgan Housel

Morgan Housel (@morganhousel) is a associate at The Collaborative Fund. His e book The Psychology of Cash has offered greater than three million copies and has been translated into 53 languages. 

He’s a two-time winner of the Finest in Enterprise Award from the Society of American Enterprise Editors and Writers and winner of the New York Instances Sidney Award. In 2022, MarketWatch named him one of many 50 most influential individuals in markets. He serves on the board of administrators at Markel. 

Morgan’s new e book is Identical As Ever: A Information to What By no means Adjustments. You could find my first, extensively widespread interview with Morgan at tim.weblog/morganhousel.

Please get pleasure from!

Hearken to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or in your favourite podcast platform. Watch the interview on YouTube.

Delivered to you by Cometeer scrumptious hyper-fresh, flash-frozen espresso; Momentous high-quality dietary supplements; and LinkedIn Jobs recruitment platform with 900M+ customers.

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#702: Morgan Housel — Contrarian Cash and Writing Recommendation, Three Easy Targets to Information Your Life, Journaling Prompts, Selecting the Proper Sport to Play, Should-Learn Books, and Extra

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Wish to hear the final time Morgan was on the present? Hearken to our dialog wherein we mentioned unorthodox profession choices, instructing kids the worth of cash, classes discovered from being gamed by the market, counterintuitive bets, getting ready for financially bumpy lengthy hauls, understanding the distinction between a price and a tremendous, tolerance for petty annoyance as a priceless life ability, and way more.

#576: Morgan Housel — The Psychology of Cash, Choosing the Proper Sport, and the $6 Million Janitor

What was your favourite quote or lesson from this episode? Please let me know within the feedback.

SCROLL BELOW FOR LINKS AND SHOW NOTES…

SELECTED LINKS FROM THE EPISODE

  • Join with Morgan Housel:

Web site | Twitter | Instagram

SHOW NOTES

Editor’s Observe: Timestamps can be added shortly.

  • Buffett’s Snickers.
  • What prompted Morgan to jot down Identical As Ever?
  • Morgan’s worst recommendation for aspiring writers is what works for him.
  • The upsides of being wealthy and nameless.
  • Suggestions for elevating unspoiled children.
  • Ought to households keep away from passing alongside dynastic wealth?
  • Discovering worthy charities and causes.
  • Cash and happiness.
  • Avalanches and different random, life-changing flukes.
  • We are able to put together for the longer term, however we will’t predict it.
  • What present unknowns will appear shockingly apparent in a 12 months?
  • Which of our present views would change if our incentives have been completely different?
  • Essentially the most priceless private finance asset.
  • Optimizing the prospect of marrying the fitting particular person.
  • Mending divergence in a wedding or relationship.
  • Making an attempt to get rid of a trouble that’s an unavoidable value of success.
  • Guessing at the way forward for textual content vs. audio/video.
  • Books vs. podcasts.
  • Advisable studying.
  • Has writing Identical As Ever modified how Morgan operates on the planet?
  • Who’s the meant viewers for Identical As Ever?
  • Parting ideas.

MORE MORGAN HOUSEL QUOTES FROM THE INTERVIEW

“Let’s give attention to what we all know with certainty goes to be a half of your future, and that’s one of the best that we will do to see the longer term.”
— Morgan Housel

“In something you do in life, you need suggestions that what you’re doing is working. And in quite a lot of these conditions, you don’t get it.”
— Morgan Housel

“Does cash purchase happiness? I believe that reply is fairly firmly no. Can cash purchase contentment? I believe that’s a fairly agency sure. And that’s nice. Contentment is a good trait that makes your life higher, however it’s very completely different from happiness.”
— Morgan Housel

“Some individuals have fuck you cash. Charlie [Munger] has fuck you intelligence.”
— Morgan Housel

“I believe you do your greatest work if you’re being introspective about your self. And “understanding your viewers” slips into pandering in a short time. And pandering is the worst writing. Not solely is it the worst content material, it’s the worst writing model.”
— Morgan Housel

“When individuals need one thing from you, they deal with you otherwise, and it’s not good.”
— Morgan Housel

“Lots of traders attempt to get rid of volatility, and so they view it as a burden and one thing that it’s best to eliminate when, really … it’s the price and never the penalty.”
— Morgan Housel

“I’m not curious about something that’s not sustainable. Friendships, investing, careers, podcasts, studying habits, train habits. If I can’t maintain it going, I’m not curious about it. And I believe the one option to actually do that’s if you’re going out of your option to dwell life at 80 % to 90 % potential. In the event you’re all the time attempting to squeeze out one hundred pc potential for one thing, nearly definitely it’s going to result in burnout, whether or not it’s a friendship or a relationship or an investing technique.”
— Morgan Housel

PEOPLE MENTIONED

The Tim Ferriss Present is one of the preferred podcasts on the planet with greater than 900 million downloads. It has been chosen for “Better of Apple Podcasts” thrice, it’s usually the #1 interview podcast throughout all of Apple Podcasts, and it has been ranked #1 out of 400,000+ podcasts on many events. To take heed to any of the previous episodes at no cost, try this web page.