The Morgan Housel Podcast cover image

The Morgan Housel Podcast

Lifestyles

Mar 6, 2023
24:53

Podcast summary created with Snipd AI

Quick takeaways

  • Choosing personal happiness over seeking external approval in financial decisions.
  • Focus on internal satisfaction by aligning spending with personal values for a fulfilling life.

Deep dives

The Story of Donald Crowhurst

Donald Crowhurst, a failed businessman and amateur sailor, entered a solo boat race around the world in 1968. Despite lacking sailing expertise, he sailed halfway down the coast of Africa before his boat sprung a leak. Faced with the choice of turning back and facing failure or continuing the race and risking his life, Crowhurst opted for a third option: deception. He drifted aimlessly in the Atlantic Ocean for six months, sending false radio communications to make it seem like he was progressing in the race. Eventually, he realized that if he won, his fraud would be exposed, leading him to likely take his own life. His boat was later found adrift, but Crowhurst was never seen again.

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