Making Sense with Sam Harris #287 — Why Wealth Matters
78 snips
Jul 5, 2022 
Morgan Housel, a Partner at Collaborative Fund and former columnist, delves into the psychology of money and investing. He discusses how personal history shapes our views on economic risk and the distinction between being rich and truly wealthy. Housel highlights the problem of social comparison and its impact on happiness. The conversation explores the role of luck, the power of compounding, and the importance of saving and investing wisely, revealing that genuine financial freedom is a crucial pillar of life satisfaction.
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Valet to Finance
- Morgan Housel bypassed high school to ski race, leaving him with a limited education.
- Working as a valet exposed him to wealth, sparking his initial interest in finance.
Banking to Writing
- Housel pursued finance, interning in investment banking after graduating with an economics degree.
- He quickly realized the hazing-heavy culture wasn't for him and left.
Private Equity and the Crisis
- Housel transitioned to a private equity internship during the 2007 financial crisis.
- Ultimately, he became a financial writer, an unexpected but fulfilling career path.
