4.6 • 4.7K Ratings
🗓️ 30 July 2022
⏱️ 86 minutes
🧾️ Download transcript
Ryan talks to Morgan Housel about the real definition of wealth, the intricacies of building an audience as an author, the sacrifice required to gain success, and more.
Morgan Housel is a partner at The Collaborative Fund. His book The Psychology of Money: Timeless lessons on wealth, greed, and happiness is a deep dive into the psychology of money and investing. Morgan is a two-time winner of the Best in Business Award from the Society of American Business Editors, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He serves on the board of Markel and has presented at more than 100 conferences all over the globe.
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| 2:20.0 | One of the tricky things about being ambitious or trying to be good at what you do is there's a inherent competitiveness right I want to be not just good at what I do that's like in my control but that there's this part of you that wants to be better than other people to beat other people to get the most to spend more weeks X right anyone who attempts to master a profession. |
| 2:46.0 | There's a part of you that naturally gravitates towards comparison still to comparison is dangerous comparison is the thief of joy is the arose of outputs it but I think the other part of this that I have learned as a writer one of the beauty of the profession that the sort of competitiveness and this tendency towards comparison misses is that we're actually not competing with each other by that I mean me and my fellow authors. |
| 3:13.0 | What we're competing against is people not reading and somebody reading my books doesn't take away from reading other books just as the success of someone else a friend or peer. |
| 3:25.0 | There success doesn't take away from people reading my books in fact it makes them more likely to read my book so I was people sometimes will get them to say Brian all these books like why not read the original Stokes I go yeah I know for a fact how many people I've driven to read the original Stokes because of the success of my books all of what just to say it's taken some work but you get to a place where when you see someone else's success in Santa Catox about this you want to get to a place where you're. |
| 3:54.0 | Happy for them you enjoy your rooting for them you hope they sell a bazillion cops you hope they do really well and this is just bringing me to today's guest Morgan Howell who just has sold a metric ton of books and a very short amount of time which is extremely difficult to do his new book the psychology of money timeless lessons on wealth green and happiness is a deep dive into the psychology of the world. |
| 4:23.0 | The difference between being rich and being wealthy how we measure our success problem with comparison as I was just saying and much more it's sold nearly two million copies and been translated into 46 languages just he's on a hell of a run and I actually first heard of Morgan because he is doing what I'm talking about which is not being competitive and genuinely rooting for other people he said some very nice things about me and my writing on Tim Ferriss's podcast. |
| 4:52.0 | And I got a note from someone that heard it and I listened to that and then I read the book and so I was very excited to have this interview Morgan is a two time winner of the best in business award from the society of American business editors he's the winner of the New York Times Sydney award and a two time finalist for the Gerald Globe Award for distinguished business and financial journalism he serves on the board of Markle and has presented him more than a hundred conferences around the globe is also a partner at the collaborative fund. |
| 5:21.0 | But I will say this his book is really great it is really genuinely good I loved reading it I took a bunch of notes I wish more writers would write in this style as we talk about in today's interview I loved the stories I loved that it was both general and specific and you took a lot out of it and I think it's a very apt for this crazy moment in economic history that we are in and I recommended highly we've had some trouble getting it at the pain and porch but I'm pretty sure that I'm going to be able to do that. |
| 5:50.0 | I'm not going to do the pain and porch but I'm pretty sure we've got it in now Morgan was nice enough to help so I recommend reading the psychology of money anywhere you get your books but if you want to pick it up at the pain and porch go for it and you go to Morgan's website and Morgan house of calm and follow him on Twitter at Morgan House will enjoy. |
| 6:09.0 | Well I loved the book and I know you said some very nice words about me on Ferris's podcast which Fristo his editor sent me and I really appreciate it all all well deserved. |
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