Gut Instincts and Big Decisions, with Morgan Housel

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 14 February 2024

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

#488: Ever made a flippant, seemingly minor decision that radically changed the course of your life? Morgan Housel has experienced this. At age 17, he made a quick decision that ended up saving his life. Sadly, two of his friends were less fortunate. He shares that story in today's podcast episode, and sheds light on the lessons he's learned from it. Housel says that his lifesaving choice -- and many of our other important decisions -- are snap verdicts, ones that we don’t spend much time thinking about. If pivotal moments are decided in a flash, how do we navigate risk? How do we evaluate our options? Housel says this comes understanding concepts that remain constant, consistent, and universal. We need to accept that humans aren’t rational. We must appreciate the reasons why the best answer doesn’t always win. We ought to remember that we overlook many good things happening around us. These constants will most likely impact our futures. Housel was named by MarketWatch as one of the 50 most influential people in the market. He is the New York Times bestselling author of The Psychology of Money. His new book is titled Same As Ever. He joins us to discuss the ideas in his latest book. For more information, visit the show notes at https://affordanything.com/episode488 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Have you ever made a flippin seemingly minor decision that radically changed the course of your life?
0:06.3	Morgan Housle has experienced this. At age 17, he made a snap judgment that ended up saving his life and sadly two of his friends were less fortunate.
0:18.0	He's going to share that story in today's episode.
0:21.0	Welcome to the Afford Anything Podcast, the show that understands you can
0:23.9	afford anything but not everything. Every choice carries a trade-off and that
0:28.1	applies not just to your money but to any limited resource that you need to manage
0:31.7	like your time, your focus, your energy.
0:34.6	So what matters most and how do you make decisions accordingly?
0:38.6	Those are the questions that this show is dedicated to exploring.
0:41.9	My name is Paula Pant, I am the host of the
0:43.7	podcast. And today's guest, Morgan Housele, was named by Market Watch as one of the
0:49.0	50 most influential people in the market, which is shocking to me that they think that there are
0:55.3	49 other peers within his cohort because it is hard to imagine anyone who is consistently
1:02.4	as original in his thinking when it comes to his
1:06.4	analysis of investments of the markets of risk as Morgan Housele. He is the New York
1:11.8	Times best-selling author of The Psychology of Money, and his latest book is called
1:16.0	Same As Ever, which explores concepts that remain constant, consistent, and universal. that
1:25.0	that humans are not rational.
1:28.0	Here he is, Morgan Houssel.
1:30.0	Hi Morgan.
1:32.0	Paul, it's so good to be back.
1:33.0	Thanks for having me.
	...

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