Capital Allocators – Inside the Institutional Investment Industry Morgan Housel – Same as Ever (EP.359)
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Jan 1, 2024 
Morgan Housel, a partner at Collaborative Fund and author of bestselling books like "The Psychology of Money," dives into his latest work, "Same as Ever." He discusses timeless truths in finance, emphasizing storytelling and human behavior's role in economic contexts. Housel explores how managing expectations can lead to happiness and delves into the intriguing concept of compounding, highlighting its limitations. Additionally, he sheds light on the complexities of risk in investing and the unique ways readers connect with stories. A thoughtful conversation filled with insights!
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Unexpected Success
- Morgan Housel's book, "The Psychology of Money," unexpectedly sold 4.5 million copies.
- The initial print run was only 5,000, highlighting the unpredictable nature of success.
The Reality of Success
- Career success doesn't necessarily improve all aspects of life.
- While some things improve, others remain unchanged or even worsen due to increased expectations.
Inspiration from the Past
- Reading Benjamin Roth's diary from the Great Depression inspired Housel's new book.
- Roth's observations about human behavior during financial crises resonated across different time periods.
