Universal Laws of the World
The Morgan Housel Podcast
Morgan Housel
4.9 • 1.1K Ratings
🗓️ 27 November 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
A few laws from random sciences that almost certainly apply to your own -- regardless of what you do for a living.
Thanks to my friends at Nitrogen -- check out nitrogenwealth.com
Transcript
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| 0:00.0 | This episode is brought to you by my friends at Nitrogen. And if you are a financial advisor, |
| 0:04.3 | or if you work with a financial advisor, you should know about nitrogen. It's a great group of people |
| 0:09.7 | with a great product. Nitrogen's platform is built to help financial advisors engage with their |
| 0:14.7 | clients and deliver personalized advice. It's everything from risk-tolerance assessments |
| 0:19.8 | to investing research and retirement planning all in one place. |
| 0:24.8 | If you want to learn more about how nitrogen helps financial advisors bring clarity to their clients' investing strategies |
| 0:30.1 | and join the tens of thousands of financial advisors who are already using the product, head to nitrogenwealth.com. |
| 0:44.3 | Thank you. using the product, head to nitrogenwealth.com. One idea that I've liked for a long time, and I've used it in a lot of my work, is the idea that if an idea, or a rule, or a law law is true in one field, it is probably true in others. |
| 1:00.6 | You can learn a lot about your field, regardless of what your field is, by studying lots of other fields. |
| 1:07.4 | Because so many fields are just under this wide umbrella of behavior. How do people behave? |
| 1:13.6 | How do people respond to risk and greed and fear? And so if you are an investor or a doctor or an |
| 1:21.4 | engineer or a kindergarten teacher, whatever it might be, you can learn so much about your field |
| 1:26.7 | by studying other |
| 1:27.6 | fields. Because all these other fields are connected by this common denominator of how do people |
| 1:33.7 | behave. And restricting your attention to only your own field blinds you to how many |
| 1:40.6 | important things people in other fields have already figured out and learned and documented |
| 1:46.0 | that might be very relevant to your own field. |
| 1:48.9 | So what I want to do today was share with you a handful of laws. |
| 1:53.6 | Most of these are laws that certain specific scientists coined and often named after themselves |
| 1:59.1 | from a huge variety of fields, as you see. But I think all of |
| 2:03.2 | these laws from these various fields can help you in your field and your profession and your life |
| 2:09.2 | regardless of what you do. All right, let's jump right into this. Number one, maybe my favorite one |
... |
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