Capital Allocators – Inside the Institutional Investment Industry [REPLAY] Morgan Housel – The Psychology of Money (Capital Allocators, EP.155)
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Oct 20, 2025 
Morgan Housel, a partner at Collaborative Fund and author of The Psychology of Money, dives deep into the psychology behind financial decisions. He shares his unconventional journey from ski racing to writing about investing, highlighting the power of narratives in understanding money. Morgan discusses key concepts like luck versus skill, the importance of defining 'enough,' and how patience and compounding drive wealth. He also reveals his personal experiences with stuttering and his simple investment strategy, encouraging listeners to embrace reasonable financial choices.
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Unconventional Teen Education
- Morgan replaced traditional high school with full-time ski racing and worldly travel as a teen.
- He credits that unconventional education with maturity and real-life skills that helped him succeed later.
Writing Career Born From Necessity
- Morgan unexpectedly started writing after getting hired by The Motley Fool during the 2007–2008 crisis.
- He fell in love with writing and published over 3,000 articles there, which launched his career.
Psychology And History Explain Markets
- Morgan found 2008 crisis explanations lived more in psychology and history than in finance textbooks.
- He views investing as the intersection of investing history and human behavior rather than pure math.
