What Financial Experts Won't Tell You About Money With Morgan Housel
Erika Taught Me
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Why Is There So Much Money to Be Made in Finance?
There's so much money to be made in finance, he says. So anything guaranteed results if they say, "You're going to double your money," is a red flag. In fields like investment banking and what not, you have the people who can graduate college and make half a million dollars a year out of undergraduate college. And because those incentives exist in finance in a way that they don't in medicine or engineering,. it really kind of, you have this boom bus cycle where the incentives kind of pile up and you have a big financial bubble and then everything comes crashing down.
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