Events like COVID, September 11th, financial crises, and Pearl Harbor demonstrate how bad news occurs rapidly, while instances of good news, like the gradual reduction in heart disease mortality over 80 years, illustrate slow compounding. The gradual improvement in heart disease mortality saved millions of lives by compounding at a rate of one and a half percent annually. While bad news garners immediate attention, good news often unfolds quietly over time, leading to significant positive outcomes that are easily overlooked in the fast-paced news cycle.
We may live in an ever-evolving world, but some things never change. The power of a good story. The miracle of compound interest. The cold, hard fact that money can’t buy happiness. This is the deceptively simple premise of “Same as Ever” by Morgan Housel. If we can master the behaviors that never change, we’ll be ready to handle whatever the future throws at us. On today’s show, Morgan sits down with Rufus to share some of the timeless lessons from his new book as well as enduring wisdom from his last, “The Psychology of Money.”
Host: Rufus Griscom
Guest: Morgan Housel
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