The Prof G Pod with Scott Galloway The Psychology of Money — with Morgan Housel
91 snips
Feb 23, 2023 
Join Morgan Housel, a partner at The Collaborative Fund and author of 'The Psychology of Money,' as he uncovers the emotional side of wealth-building. He emphasizes the vital role of personal behaviors in achieving financial success and the balance between growth mindset and discipline. The conversation touches on the importance of strategic investing and the necessity of adapting to life events, like having a child, to shape financial priorities. Housel also highlights the need for empathy in navigating social media dynamics and economic cycles.
AI Snips
Chapters
Books
Transcript
Episode notes
Financial Success as a Soft Skill
- Financial success isn't hard science; it's a soft skill.
- Behavior outweighs knowledge in building wealth.
Balancing Optimism and Pessimism
- Getting rich requires optimism, but staying rich requires pessimism.
- Save cautiously, but invest with optimism for long-term growth.
Diversification and Economic Security
- Diversify investments early to avoid concentration risk.
- Prioritize long-term economic security over chasing extreme wealth.
