
Afford Anything
Morgan Housel: How to Trend-Proof Your Portfolio and Think Beyond Fads [GREATEST HITS WEEK]
Dec 23, 2024
Morgan Housel, a New York Times bestselling author known for his work on the psychology of money, shares a life-changing decision he made at 17 that serves as a powerful lesson in risk evaluation. He discusses how snap decisions shape our lives, emphasizing that humans aren’t always rational in their choices. Housel also explores the pitfalls of relying on economic predictions and the contrasts between perception and reality in economic conditions. Throughout, he encourages listeners to consider the gradual nature of gains and the importance of empathy in decision-making.
01:06:38
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Quick takeaways
- Morgan Housel illustrates that snap decisions can have life-altering consequences, underscoring the unpredictability of choices we make daily.
- He emphasizes the need to focus on timeless principles instead of transient trends to navigate risks effectively and shape the future.
Deep dives
The Impact of Snap Decisions
Morgan Housel reflects on a life-altering decision he made at the age of 17 that saved his life and ultimately changed its course. While skiing with friends, he opted not to join them on a run, a seemingly minor choice that resulted in his survival when a massive avalanche struck shortly thereafter. This experience highlights the unpredictable nature of decision-making, as the most critical choices in life often stem from instinct rather than calculated thought. Housel asserts that many significant outcomes arise from trivial decisions, emphasizing the unpredictability and fragility of life.
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