Ep. 35 Morgan Housel | Going Deeper on the Psychology of Money
Prime Talks
How Do You Manage Risk?
Sally Kohn: People are very good at predicting what the economy is going to do, except for surprises and surprises tend to be all that matter. She says by definition, you cannot predict a surprise, like COVID or 9-11 or whatever it might be. If you're only saving for the risks that you can envision, she says, you're going to miss a surprise every single time. "I'm saving it for a world in which everybody is constantly surprised by what gets thrown their way"
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