The Morgan Housel Podcast
Trying Too Hard
Sep 18, 2023
The discussion explores the pitfalls of trying too hard, illustrating how excessive effort can backfire in investments. It emphasizes the evolution of once-rejected ideas into today's successes, showcasing the necessity of adaptability. A humorous take on the complexities of expertise reveals that simpler solutions often work better than overcomplicated narratives. Additionally, the podcast delves into the tension between expert advice and personal ethics, particularly in medicine, highlighting the challenges in balancing knowledge with empathy.
13:41
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Quick takeaways
- Trying too hard in investing can lead to catastrophic mistakes and worse results than those who put in less effort or had less knowledge.
- Experts anchored in old wisdom can fail to recognize new opportunities, hindering their success in various fields.
Deep dives
Trying too hard in investing
In investing, it is possible to try too hard and be too focused on intelligence and effort. Overcomplicating things and having a huge ego can lead to catastrophic mistakes. People from prestigious educational backgrounds often make mistakes that those with less education wouldn't. Trying too hard can result in worse results than those who put in less effort or had less knowledge.
