Masters in Business At the Money: Behavior Beats Intelligence (Podcast)
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Jul 24, 2024 
Morgan Housel, author of 'The Psychology of Money', discusses how behavior beats knowledge in investing with Barry Ritholtz. They explore managing fear, greed, and luck, and how to find happiness in financial decisions. The podcast emphasizes the impact of behavior over intelligence in navigating market volatility and the importance of understanding the psychology of money in investing.
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Behavior Trumps Intelligence
- Financial success depends more on behavior than raw intelligence or mathematical skills.
- Managing emotions like greed and fear is crucial for investing success.
Do Less, Earn More
- Avoid reacting to frequent market information and resist the urge to constantly adjust your portfolio.
- Leaving your investments alone to compound over time often yields better results.
Luck Shapes Investing Careers
- Luck plays a huge role in investing, such as birth timing and circumstances beyond control.
- Even skilled investors acknowledge how timing and environment significantly affect outcomes.