Morgan Housel

A Few Questions Which of my strongest beliefs are formed on second-hand information vs.

A few questions:

Which of my strongest beliefs are formed on second-hand information vs. first-hand experience?

If I could not compare myself to anyone else, how would I define a good life?

A dozen more:

collabfund.com/blog/a-few-q...

"There are times when chasing the things money can buy, one loses sight of the things which money can't buy and are usually free." world.hey.com/davidsenra/t...

The score card after Buffett announces he's stepping down this year:

5,502,284% for Berkshire vs 39,054% in the S&P 500.

I forget who pointed this out but Berkshire could fall 99% and he'd still have outperformed over his career.

I wrote a new book:

The Art of Spending Money

Out October 7th.

I don't lecture you how to spend, because everyone is different. This book is about:

-Attention
-Envy
-Social aspiration
-Comfort
-Happiness
-Regret
-Much more

Pre-order here:

www.morganhousel.com/aosm

Yes

"Men destroy each other during war, themselves during peacetime." -Taleb

Godspeed to the parents who will spend the next 12 hours assembling toys.

“There is only one success: to be able to spend your life in your own way.” -- Christopher Morley

"A great way to understand yourself is to seriously reflect on everything you find irritating in others." @kevinkelly.bsky.social

Ernest Hemingway said F. Scott Fitzgerald had a "romantic awe of [the rich] ... He thought they were a special glamorous race and when he found they weren’t it wrecked him as much as any other thing that wrecked him."

Stigler’s law: No scientific discovery is named after its original discoverer.

Coined by University of Chicago statistician Stephen Stigler who, for consistency, says he stole it from Robert Merton.

Happens because the best story, not necessarily the right idea, gets people's attention.

Our internet has been out for 7 days (monster storm) so I got a Starlink and it's one of the most impressive products I've ever used.

Morgan Housel: The Cost of Ego Podcast Episode · Glue Guys · 11/21/2024 · 1h 10m

Here's a podcast I did with Shane Battier, Alex Smith, and Ravi Gupta -- one of my favorite new pods.

podcasts.apple.com/us/podcast/m...

Watch your uncle say “yeah, I’ve been watching that one too.”

🫡

Welcome to the least productive week of the year.

Has a first date feel.

Feels good here. Like Twitter in 2010.

You don’t have to know exactly what the future holds to know that some people will handle it better than others.

Podcast: Why pessimism sounds smart.

Apple: podcasts.apple.com/us/podcast/why…

Spotify: https://open.spotify.com/episode/2lqBPtQDJOdSd9BuSKAeXa

Giving this thing a shot again.

Great clip on Jerry Seinfeld’s decision to end his show.

“A small amount of ‘too much’ changes the whole feeling about it. I wanted to end with a feeling of, ‘It was never bad.’”

https://youtu.be/sk6O1pCXFno

Vicious Traps There are times in nature when two plus two equals ten – when two little things combine to form one…

When two good things mix into something dangerous.

"Take patience and confidence. They both sound great. But mixed together they often form stubbornness, which is a disaster."

https://collabfund.com/blog/vicious-traps/

Reminder that no matter how the economy is performing there will always be a loud group of people saying:

- Big recession around the corner
- Hyperinflation imminent
- The dollar is doomed
- The Fed broke everything
- Stocks are overvalued

Been like that for 100+ years.

Giving this thing a shot!

The fintwit cluster is starting to...cluster.

A lot of people like making money more than they enjoy having money. The change, not the accumulated amount, is the thrill.