Motley Fool Money The Tastes That Change and Stay the Same
Dec 22, 2023
Morgan Housel, best-selling author known for his insights on investing and behavioral economics, discusses timeless lessons from history in his book, 'Same as Ever.' Ron Shaich, restaurateur and chairman at Cava, shares the journey to his restaurant’s public debut and offers reasons not to underestimate his impact on the industry. They explore how consumer preferences are evolving in the dining sector, and the importance of embracing optimism and adaptability in both investing and food trends.
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History Over Forecasts
- Reading history is more valuable than reading forecasts.
- Human behavior, particularly in financial crises, repeats itself throughout history.
Filter for Timeless Information
- Focus on information with a long shelf life, like competitive advantages.
- Filter news by asking: "Will I care about this in a year?"
Risk Tolerance in Reality
- People overestimate their risk tolerance in abstract scenarios but underestimate it in real-life crises.
- Real-world events add emotional layers to market drops.
