We Study Billionaires - The Investor’s Podcast Network TIP602: Same as Ever w/ Morgan Housel
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Jan 26, 2024 
Morgan Housel, a partner at The Collaborative Fund and bestselling author, dives into timeless themes of finance in his latest work, *Same as Ever*. He discusses the fragility of our world and why the most dangerous risks are often unseen. Housel emphasizes the power of storytelling in finance, the importance of a probabilistic mindset in investing, and argues that patience is key to long-term success. He also explores how market extremes, like the meme stock frenzy, are to be expected rather than anomalies in the investment landscape.
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Focus on Behavioral Constants
- Focus on enduring human behaviors, not unpredictable events.
- These behaviors repeat across history, regardless of technology or recessions.
Fragility and Antifragility
- The world is fragile; events compound unpredictably.
- Position yourself for good outcomes, regardless of future events.
Tesla's Near-Death Experience
- In 2018, Tesla was near bankruptcy.
- In 2023, the Model Y became the world's best-selling car.
