The Prof G Pod with Scott Galloway Conversation with Morgan Housel — Behaviors that Influence our Money Decisions and Habits
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Nov 16, 2023 
Morgan Housel, a partner at The Collaborative Fund and bestselling author of "The Psychology of Money," shares insights on financial decision-making. He discusses how psychological factors like fear and greed shape our choices, especially in volatile markets. Housel also critiques the relationship between wealth and happiness, noting that material success doesn’t equate to joy. He emphasizes resilience in financial behaviors and the importance of meaningful relationships over social comparisons. Plus, he offers practical advice for young families on homeownership.
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Forecasting vs. Behaviors
- Financial forecasting is unreliable, so focus on unchanging behaviors.
- People consistently react with greed, fear, and uncertainty during financial crises.
Easy Money & Fragile Decisions
- Easy money leads to fragile financial decisions, both individually and institutionally.
- Current housing market prices might be inflated due to a lack of transactions reflecting the increased interest rates.
Home Buying Advice for Young Families
- Prioritize family needs over FOMO when buying a home.
- Avoid overleveraging yourself financially, especially with young children.
