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The Long View

Morgan Housel: No One Hires a Luck Manager

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5775 Ratings

🗓️ 22 May 2019

⏱️ 48 minutes

🧾️ Download transcript

Summary

Investment writer Morgan Housel on coping with behavioral biases, the evolution of the investment industry, and the role of luck in investing.

Transcript

Click on a timestamp to play from that location

0:00.0

At Jackson, we've created a digital retirement planning experience with you and mine.

0:05.5

Visit jackson.com to explore our easy-to-understand resources and user-friendly tools

0:10.1

that are designed to enable financial professionals and clients to plan a path to financial freedom.

0:15.5

Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,

0:20.5

and Jackson National Life Insurance Company of Lansing, Michigan, and Jackson

0:21.4

National Life Insurance Company of New York, purchase New York.

0:27.3

Please stay tuned for important disclosure information at the conclusion of this episode.

0:34.3

Welcome to the Longview podcast. I'm Jeff Patak, Global Director of Manager Research for Morningstar Research Services.

0:41.1

And I'm Christine Ben's director of personal finance for Morningstar.

0:44.4

Our guest this week is Morgan Housel. Morgan is a partner at the Collaborative Fund,

0:48.5

a venture capital firm that makes investments in firms that, in its words, are at the intersection of for-profit and for good.

0:56.0

A former columnist at The Motley Fool and the Wall Street Journal, Morgan has become one of the

1:00.1

most prolific and insightful writers on the investment decision-making process, as evidenced

1:05.6

by his impressive body of work on the Collaborative Fund website's blog.

1:10.4

Morgan joined us today in this live recording of

1:12.9

the Longview from the Morning Star Investment Conference in Chicago. Morgan, thank you so much for

1:18.5

joining us and welcome to the Longview. Thanks for having me. This is great. So I think some of our

1:22.7

listeners are probably already acquainted with your work, but for those who aren't, can you give a

1:26.8

quick thumbnail of your

1:28.0

background and specifically how you came into the investing in finance fields? My whole background

1:33.3

has been in writing for my whole career, and it kind of got that way on accident. This was never

1:38.0

planned to become a financial writer. My plan all throughout college was to do investment banking. That's

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