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#374: Morgan Housel on the Psychology of Money

The Pomp Podcast

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Is There a Right Answer to Investing Questions?

I think one of the major causes of bubbles is when momentum entices short term traders. And then long term investors start taking their cue from short term traders, and then everything goes to hell. So it's so important to understand what your own goals are, what game you are playing, and try to only take cues that are relevant to those goals.

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