Morgan Housel: 1% Action Will Change Your Life | The Psychology of Money

We sit down with Morgan Housel, the author of the international best-selling book The Psychology of Money, who is a partner at Venture Capital and PE firm Collaborative Fund. He’s a former columnist at The Motley Fool and Wall Street Journal.


📖 BOOK MENTIONED:

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[TheInvestorsPodcastNetwork]

Hey guys, what are your key takeaways from this episode?

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[vigeendharan]

My take aways
1. Plan to have a long time frame
2. Research on investing comes at a cost, for buffet it’s family and social life
3. Leverage can lead to downfall . Don’t aim to get rich quickly .
4. 99 percent of your returns will be determined by what you do during 1 percent of the time.
5. Risk is what is left after what you think you took care of everything.

[ashatou]

This guy is genius and I wish I have read his book 15 years ago. No one taught me anything in his book before. His ideas and thoughts seem too basic and common, but hey, common sense is not common. I would recommend his book for anyone facing hard times managing his or her money.

[KVB]

The relationship between behaviour and intelligence is just an incredible insight. As someone who has grown up in finance I find this to be such an under appreciated - and more importantly underestimated point. This entire video is such a great educational piece…. I think people have no idea.

[briannicholas]

I don't believe in luck I believe in trust and
understanding. I've been trading forex for some
months now and I've made good amount of money
of over $78, 100 with her simple strategies of
trading. Meeting with stacy has been one of my best
experience these past few months and am expecting
more withdraws from her

[kingadams]

I'm also a proud beneficiary! I've built my portfolio massively and still building. I started with a YouTube referral

[mars]

Behavior starts at home & should be taught by the parents. My Mother had us on a schedule that taught us responsibility, time management & cleaning techniques. Diffidently had everything to do with my success! Laying a strong foundation .

[Harperrr.]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $120, 000 bond/stock portfolio.

[Raymondjohn]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.

[jasmingraham]

Those who are successful don't become that way suddenly. Everything most people perceive at first glance- wealth, a successful profession, and a sense of purpose-is the consequence of persistent slog and hustle if you think about it.

[omarsayed]

One of the best money interviews I've heard for a long time.

[VideoAssociates]

Excellent interview. Impatience is the biggest reason people will detour from their investment pathway

[kgomotsomaila]

Very informative. What I liked about him is that he's very honest and not just telling us good things just to buy his book.

[MannehN]

This was such a great discussion. And I'm a HUGE fan of long term index investing where I too buy the entire market. My goal is to never sell unless maybe, maybe if it's life changing. I want to make more money not to be able to spend more or have more "fun" but to invest more. And it doesn't matter if the market is up or down. And since there's no such thing as saving/investing too much money, I just keep stuffing that thing.

[thegamerboneless]

This dude is prime writer, he feels the need he has to explain everything he talks about, 3-4 different ways, I love it 😂😂😂😂

[misasylvester]

These strategies are quite rigorous for the huklumu\jregular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

[ExtraordinaryLiving]

Wow, this talk is excellent! And it took me until near the end to realize that it is almost one year old (yet all the points in the talk is still relevant.) I would really like to see an updated discussion of the current time (March of 2023) with Morgan Housel again.

[ronaldh]

Bought the book. I read it every two months. Very good book.

[k.]

That was a great interview! I listened to the full audio book before this. I learned so much from both! About WW2, M1 changes, fascinating!!! Thank you so much 😊

[davelewis]

Some amazing insights. The one where investors unfortunately take cues from investors who are playing a different game really hits home. It’s messed me up many times