172: Behavioral Finance with Morgan Housel

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 20 August 2020

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our guest this week is one of my favorite writers. Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. His passion for finance and investing come through in his writing. I am intensely jealous when I look at his writing because of his talent. He is insightful and easy to read. He takes complex and important topics and makes them simple to understand. We really dive into behavioral finance topics in this episode. My favorite piece of his was called The Psychology of Money and was the base for his new book coming out September 8th. It is filled with so many pearls that it should be required reading for humans. I pull a few of those pearls out today and discuss them. We talk about some of "the flaws, biases, and causes of bad behavior" he has seen often when people deal with money. Listen to the episode and go pre-order his book. It will almost surely be a best seller and definitely on my recommended reading list.

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Transcript

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0:00.0	This is the White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street.
0:06.0	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:12.0	Here's your host, Dr. Jim Dolly.
0:18.0	This is White Code Investor Podcast number 172, Behavioral Finance with Morgan Hellezel.
0:24.0	Instead of helping 11 to 30 patients a day, what if you could affect exponentially more?
0:29.0	In just 30 minutes, you can positively impact the patient journey, improve the development of medical devices, and influence emerging treatments.
0:36.0	Join more than 2 million healthcare professionals around the world who take part in paid medical studies with M3 Global Research.
0:43.0	You have a wealth of medical knowledge and experience that few others possess.
0:46.0	Join M3 Global Research and help shape the future of healthcare.
0:50.0	Go to www.whitecodeinvestor.com slash M3 Global today to learn more.
0:57.0	Alright, welcome back to the podcast.
0:59.0	Hope you're having a great month.
1:02.0	We're recording this.
1:03.0	Let's see in July, July 30th to run on August 20th.
1:07.0	Sorry, we got to record things in advance sometimes when I go on too many trips.
1:11.0	Apparently, we're not going to be recording for a few weeks due to a trip to the Tetons.
1:16.0	I'm taking my daughter on.
1:17.0	So hopefully this isn't totally out of date in three weeks, but I don't think it will be.
1:21.0	I think it's going to be pretty evergreen.
1:23.0	Let's hit our quote of the day.
1:25.0	This one comes from Christine Benz, the director of personal finance at Morningstar.
1:29.0	She said, of course, Hubert isn't the exclusive domain of financial professionals.
	...

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