This Was Never Easy: A Brief History of Nostalgia
The Morgan Housel Podcast
Morgan Housel
4.9 • 1.1K Ratings
🗓️ 10 October 2024
⏱️ 23 minutes
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Summary
There's a Russian saying that I love: "The past is more unpredictable than the future." It explains so much about nostalgia, and the twisted ways we all view the economic past.
This episode is brought to you by my friends at 10 East – an investment platform for sophisticated investors to access private markets. To learn more visit 10east.co.
Transcript
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| 0:00.0 | We talk so much about investing on this podcast and the different ways to do it. |
| 0:05.0 | So before we get going, I want to let you know that this episode is brought to you by my friends at 10 East. |
| 0:10.0 | 10 East is an investing platform for sophisticated investors to access private markets. |
| 0:15.6 | It brings the benefits of having your own family office without the cost and the headaches of doing so. |
| 0:22.0 | Ten East is founded and led by Michael Lefel, |
| 0:24.8 | former deputy executive managing member at Davidson-Kepner. |
| 0:28.9 | Tenney's core strategy is to apply institutional grade due diligence |
| 0:32.0 | to more niche exposures across private markets in equity and credit and real estate. |
| 0:38.0 | The principals and partners at Ten East invest their own money in these deals to align interests. To learn more please check out 10 East.co. |
| 0:46.7 | That's the number 10 East.co. There's this Russian saying about nostalgia that I thought was so brilliantly put the saying is the past is more unpredictable |
| 1:08.0 | than the future the past is more unpredictable than the future. Wild idea, but stick with me because I think there are so many modern examples of this. |
| 1:20.0 | On Instagram, I subscribe to a couple feeds that are devoted to nostalgia for the 1990s. |
| 1:27.0 | Now, I was a kid in the 1990s. |
| 1:30.0 | That was my era that I grew up in. |
| 1:32.0 | So these nostalgic posts that show 1990s commercials and sporting events and fashion trends. I love them. It just takes me right back to being a child in the 90s and I love them. |
| 1:42.0 | And it's so interesting when you read the comments section. back to being a child in the 90s and I love him. |
| 1:42.5 | And it's so interesting when you read the comments section |
| 1:45.2 | of these posts, because there's a lot of people who |
| 1:48.0 | also grew up in the 90s that comment on these posts, |
| 1:50.4 | and you see the same comment time and time again. The comment is, the late 1990s and the early 2000s were the best time to be alive. |
| 2:02.0 | And they say things like, oh, well, we had the internet, but we weren't |
| 2:06.0 | rotted by social media yet, and the world was so calm, and the economy was great, and everyone |
... |
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