i loved going back through this book and had a lot of takeaways, personally, from it. One thing that housell does that goes against conventional wisdom is hold a lot of cash. He holds 20 % of his assets in cash, which just seems totally absurd to me,. But that's what he chose to do for himself to give himself a higher level of independence and freedom. i also wanted to let you know about an awesome opportunity we have available here at the investor's podcast network. We are looking for someone to join our team to be a full time financial writer.
IN THIS EPISODE, YOU’LL LEARN:
01:19 - Clay’s biggest takeaways from reading The Psychology of Money by Morgan Housel.
04:55 - Why it’s better to study broad trends and patterns rather than specific individuals.
08:44 - Warren Buffett’s secret weapon to becoming one of the richest people on the planet.
09:30 - The story of how Jesse Livermore built a fortune trading stocks, only to eventually lose it all.
14:39 - What Morgan Housel’s definition of wealth is.
17:25 - Why trying to make market predictions is a fool’s game.
24:50 - How Morgan Housel thinks about and handles his own finances.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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