Stay Tuned with Preet Money and Happiness (with Morgan Housel)
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Dec 14, 2023 
Finance writer Morgan Housel joins Preet to discuss the psychology of money and the motivations that can help and hurt investors. They also explore the problem with referring to federal judges by the presidents who appointed them, damages in the Rudy Giuliani defamation trial, and the podcast industry. Housel's new book Same as Ever: A Guide to What Never Changes is discussed as well.
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Avalanche That Changed A Life
- Morgan Housel survived when two teammates died in a massive avalanche after he skipped a second run on a whim.
- He uses this to show how fragile life is and how major events often hinge on tiny, random choices.
Bet On Human Behavior Not Events
- Predicting specific events is nearly impossible because small shocks compound into unforeseeable outcomes.
- Better predictions come from forecasting stable human behaviors like fear, greed, and tribalism.
Index And Hold For Decades
- Dollar-cost average into broad index funds and hold for decades to capture compounding.
- This approach likely places you in the top 5% of investors over a 30–50 year horizon.