[REPLAY] Morgan Housel – The Psychology of Money (Capital Allocators, EP.155)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.7 • 841 Ratings
🗓️ 1 January 2024
⏱️ 67 minutes
🧾️ Download transcript
Summary
Morgan Housel is a partner at Collaborative Fund and one of my favorite writers about investing. Morgan recently released his first book, The Psychology of Money, and I'll go on record and predict it will be a best-seller in short order.
Our conversation starts with Morgan's non-traditional education, his path to writing, and his process for writing each week. We then turn to the book and discuss some anecdotes about luck and risk, greed, compounding, patience, and tail events. We close with two of Morgan's personal stories – one about his own investing and the other, which seems inconceivable as you listen, about his lifelong challenge with stuttering.
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Transcript
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| 0:00.0 | Capital allocators is brought to you by my friends at WCM Investment Management. |
| 0:07.5 | To outperform the markets, you have to do something differently from others. |
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| 0:22.3 | international growth strategy for the last five years. WCM is a global equity investment manager |
| 0:28.9 | majority owned by its employees. They believe that being based on the West Coast, away from |
| 0:34.7 | the influence of Wall Street Groupthink, provides them with the freedom |
| 0:37.9 | to live out their investment team's core values, think different, and get better. |
| 0:43.7 | As advocates of integrating culture research into the investment process and advancing |
| 0:48.3 | wide moat investing with the concept of moat trajectory, WCM has delivered differentiated returns while building concentrated |
| 0:56.2 | portfolios designed to stand out from the crowd. |
| 1:00.2 | WCM is committed to defying the status quo by dismantling outdated practices, believing |
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| 1:26.9 | This testimonial is being provided by Ted Sides and capital allocators who have been compensated a flat fee by WCM. His payment was made in connection with capital allocators' testimonial and production of podcasts, and does not depend on the success or level of business generated. The opinions expressed are solely those of capital allocators and may not reflect the opinions of others. Investing involves risk, including the possible loss of principle. Past performance is not indicative of future results. Please visit wcminvest.com for WCM's ADV and |
| 1:48.0 | further information. |
| 1:55.2 | Hello, I'm Ted Sides and this is Capital Allicators. This show is an open exploration of the people and process behind capital allocation. |
| 2:06.3 | Through conversations with leaders in the money game, we learn how these holders of the |
| 2:11.1 | keys to the kingdom allocate their time and their capital. |
| 2:14.5 | You can keep up to date by visiting Capital Allocatorspodcast.com. |
| 2:22.0 | My guest on today's show is Morgan Housel, a partner, a collaborative fund, and one of my |
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