Morgan Housel on Seeking Simplicity in a Complex World - The One Percent Show

In this episode, I talk to Morgan Housel, partner at Collaborative Fund and author of The Psychology of Money. Among other things, Morgan shares his idea of writing, key lessons he learned from his parents and the ones he wishes to pass on to his kids, the most important thing money can buy, and practicing simplicity in a complex world.

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0:00 Introduction
2:02 Why writing means for Morgan
2:48 What’s true for every writer
3:56 Most fascinating thing about writing
6:15 Benefits of journaling
7:54 Morgan’s process of writing well
10:53 How to get writing ideas
12:30 You cannot force creativity
14:22 Most important lessons while growing up
16:45 The only purpose of building wealth
18:28 Developing the idea of ‘enough’
22:11 What Morgan worries about the most
24:48 No one is crazy
31:57 Money vs happiness
35:23 What becoming a parent teaches
38:48 Most undervalued skill
41:56 Favourite story from The Psychology of Money
43:48 Reasonable vs rational
44:28 Obvious things people don’t observe about money and investing
47:05 Being bold vs being reckless
50:38 Simplicity in a complex world
53:03 Fascinating things about investing
54:39 Lessons from failure
55:39 Meditating on mortality
57:04 Best and worst pieces of advice
57:30 Disagreeing with people on Wall Street
57:30 Disagreeing with people in Silicon Valley
58:30 One final advice

[florianmadison]

Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.

[gourabsaha]

"Expectation growing slower than income" - Timeless wisdom

[gouravkhandelwal]

What a clear thinker morgan is...just fantastic.

[RamYadav-nbzt]

The day I found Vishal sir, I instantly knew that I will keep reading and listening to this man. It's fascinating to know that despite we two not knowing each other personally, how greatly you are able to influence my day to day activities

[rajatgoel]

Speechless. This content is no less than Gold.

[sureshkhandelwal]

Thanks to Mr. Vishal and Mr. Mogan for such a beautiful and inspiring conversation.

[VideoAssociates]

Morgan makes great points... especially about how we selectively remember the past

[navneetgupta]

@Vishal, not sure if you have ever conversed with Nassim Taleb but would be great to have him on the show if you can convince him

[karansheth]

It feels like listening to GODS, this content is next level man, amazing, what a time to be alive!

[ipankajp]

Can’t believe this is all for free. Super awesome content.

[MinuteFinance]

Poor Charlie's Almanac is the book recommended by both Morgan and Mohnish on the show.
I definitely gotta read that!

[surenderyadav]

Two of the best holistic financial investors and writers in one video, thanks for doing this!

[vasugupta]

10 thums up..
Very insightful.
In the world where everyone is running behind 30 sec short vlogs, its commendable Vishal sir what you are doing.
It makes so much more sense.
All talk r so full of insight n wisdom.
Great Sir🙏🙏💐💐

[himanshupratap]

Thank you the interview. So many life lessons take away.

[RuruBasuMallik]

Thank you so much Vishal for bringing Morgan on. This was a treat to listen to. Lots of love n respect to both of you. 🙏🙏

[mawean]

Great one! I would love to see an update.

[mymoneymygoals]

Vishal, such a Simple but insightful conversation. Liked the rapid Questionnaire and Morgan has been so open and straight in sharing his answers, thoughts. God Bless you both for being such wonderful Mentors

[Bravosmom]

Such a fantastic interview! Thank you !

[kodilakaleidoscope]

This is a very enlightening discussion. Thank you.

[nitinparashar]

Thanks a lot Vishal ji for sharing this podcast this is another gem on your YouTube channel everything that you do is taking us a step ahead towards financial freedom