Morgan Housel – The Art of Spending Money (EP.466)

Capital Allocators – Inside the Institutional Investment Industry

Ted Seides – Allocator and Asset Management Expert

Investing, Capitalallocation, Business

4.8 • 806 Ratings

🗓️ 20 October 2025

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Morgan Housel is a bestselling author, partner at Collaborative Fund, and Board member of Markel. Morgan's work focuses on the intersection of human behavior and financial decision making. His first book, The Psychology of Money, has sold 10 million copies since releasing five years ago and is already one of the best-selling investment books of all time. His second, Same as Ever, explores human behaviors that never change, and is rapidly approaching 1 million copies sold.

Our conversation discusses Morgan's latest work, The Art of Spending Money: Simple Choices for a Richer Life. I wanted to get him back on the show to share his thoughts on a subject that affects us all. But I wasn't expecting to have my mind turning on how Morgan's insights about envy, aspiration, and contentment also apply to the assessment of money managers and corporate executives.

His recently released book is another tour de force, and I suspect, once again, will soon hit the best seller list.

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Transcript

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0:00.0	Most bad financial decisions happen when you follow the strategy that is right for somebody else,
0:05.8	but not for you. You have to view it as an art, not a science. That's why the book is not called
0:10.7	the science of spending money.
0:17.8	I'm Ted Sides, and this is Capital Allocators.
0:23.6	My guest on today's show is Morgan Housel, bestselling author, partner a collaborative
0:29.3	fund, and board member of Markell.
0:32.6	Morgan's work focuses on the intersection of human behavior and financial decision-making.
0:38.9	His first book,
0:44.9	The Psychology of Money, has sold 10 million copies since releasing five years ago and is already one of the best-selling investment books of all time. The second, same as ever, explores human
0:51.5	behaviors that never change and is rapidly approaching a million copies
0:56.1	sold.
0:57.1	Our conversation discusses Morgan's latest work, the art of spending money, simple choices
1:03.1	for our richer life.
1:05.0	I wanted to get him back on the show to share his thoughts on the subject that affects
1:09.1	us all, but I wasn't expecting to have my mind turning on how Morgan's insights about envy,
1:15.4	aspiration, and contentment also apply to the assessment of money managers and corporate executives.
1:22.2	His recently released book is another tour to force, and I suspect once again will soon hit the bestseller list.
1:29.6	Before we get to the interview, a quick announcement. We've set new dates for our capital
1:34.1	allocators university for investor relations and business development professionals. Those dates are
1:39.3	December 3rd and 4th in New York City. Later in the year is just a better time of year for this gathering. It's post-AGM season, travel starts to wind down, it's right before the holiday crunch time, and it's a great time for capital raisers to reflect on their previous year and plan for the year ahead. December 3rd and 4th in New York City. CAU for IRBD is a closed door gathering for capital raisers to connect with peers,
2:02.7	learn from allocators and other experts, and really share in best practices with each other.
2:07.9	You can learn more at capital allocators.com slash university.
	...

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