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The Morgan Housel Podcast

Do It Your Own Way

The Morgan Housel Podcast

Morgan Housel

Business

4.91.1K Ratings

🗓️ 27 September 2024

⏱️ 14 minutes

🧾️ Download transcript

Summary

The ultimate success metric is whether you get what you want out of life. But that’s harder than it sounds because it’s easy to try to copy someone who wants something you don’t.

This episode is brought to you by my friends at 10 East – an investment platform for sophisticated investors to access private markets. To learn more visit 10east.co.

Transcript

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0:00.0

We talk so much about investing on this podcast and the different ways to do it.

0:05.0

So before we get going, I want to let you know that this episode is brought to you by my friends at 10 East.

0:10.0

10 East is an investing platform for sophisticated investors to access private markets.

0:15.6

It brings the benefits of having your own family office without the cost and the headaches of doing so.

0:22.0

Ten East is founded and led by Michael Lefel,

0:24.8

former deputy executive managing member at Davidson-Kepner.

0:28.9

Tenney's core strategy is to apply institutional grade due diligence

0:32.0

to more niche exposures across private markets in equity and credit and real estate.

0:38.0

The principals and partners at Ten East invest their own money in these deals to align interests. To learn more please check out 10 East.co.

0:46.7

That's the number 10 East.co. One of my favorite ideas is from the poet Christopher Morley who who said, he said it many different ways different times, he said,

1:06.0

the only success in life is to live it in your own way.

1:11.5

And I love that because it's so true independence autonomy just doing whatever you want to do is one thing

1:17.6

but I think more important is almost what he didn't say but implied which is that your way might be different from my way and

1:24.6

different from somebody else's way. There is no one way you just have to find

1:28.6

your way and do it. The ultimate success metric, I think for anything in life, is just whether you get what you want out of life,

1:38.0

whether you got what you aspire to get. That's, how could it get more simple than that?

1:42.8

But it is so much harder than it sounds because it is way easier and more common to try to copy somebody who wants something that you don't

1:54.0

Let me tell you a little story of something I've seen happened to two writers.

1:58.0

I've seen this happen twice and it made me sad each time.

2:01.0

You take an incredibly talented young writer who has a big blog

2:05.8

following. They join a big media company, a big newspaper, where they quickly

2:11.0

fizzled into irrelevance.

...

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