Permanent Podcast: Real Talk About Private Equity and Buying, Selling, and Operating Small Businesses cover image

Morgan Housel: The Psychology of Luck - Outside Insights

Permanent Podcast: Real Talk About Private Equity and Buying, Selling, and Operating Small Businesses

CHAPTER

The Importance of Staying Rich

For someone to do well over time, you need both in equal parts. You need to get them to coexist with each other. I think there are a lot of people who are very good at getting rich. And it's pretty rare that you have someone who is truly barbelled. While Bill Gates was massively optimistic and risk taking, at the same exact time, he was very pessimistic and very conservative. The big point about this is that most good things in the world come from compounding, which happens slowly but surely.

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