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#746 - Morgan Housel - 12 Unexpected Laws Of Human Psychology
Modern Wisdom
Overnight Tragedies & Long Term Miracles
Bad news, like tragedies or catastrophic errors, can happen instantly leading to loss in confidence, while good news, like the decline in heart disease mortality, results from compounding over years. Overnight tragedies are such as Pearl Harbor and 9/11, which transformed the world in a blink of an eye, while long term miracles, like the decrease in heart disease mortality by over 70%, occur gradually over decades. The challenge is that people tend to focus more on immediate bad news, causing pessimism, while overlooking the slow, positive progress.
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