This chapter explores the recurring behaviors of investors throughout history, highlighting the limitations of market forecasts and bubble predictions. It emphasizes the importance of understanding historical economic reactions to improve investment decision-making.
Every stock market valuation is a number from today multiplied by a story about tomorrow.
Morgan Housel is the best-selling author of The Psychology of Money and Same as Ever. Robert Brokamp interviewed Housel at our member event FoolFest. This episode is a cut of their conversation. They discuss:
- Why professional money managers often underperform the market.
- The relationship between success and luck for investors.
- Saving like a pessimist and investing like an optimist.
- What spreadsheets can’t tell you about spending.
- The benefit of losing money early in an investing journey.
Companies/Tickers Mentioned: TSLA
Host: Robert Brokamp
Guest: Morgan Housel
Producer: Ricky Mulvey
Engineer: Tim Sparks
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