WCI #172: Behavioral Finance with Morgan Housel
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 20 August 2020
⏱️ 72 minutes
🧾️ Download transcript
Summary
Our guest this week is one of my favorite writers. Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. His passion for finance and investing come through in his writing. I am intensely jealous when I look at his writing because of his talent. He is insightful and easy to read. He takes complex and important topics and makes them simple to understand. We really dive into behavioral finance topics in this episode. My favorite piece of his was called The Psychology of Money and was the base for his new book coming out September 8th. It is filled with so many pearls that it should be required reading for humans. I pull a few of those pearls out today and discuss them. We talk about some of "the flaws, biases, and causes of bad behavior" he has seen often when people deal with money. Listen to the episode and go pre-order his book. It will almost surely be a best seller and definitely on my recommended reading list.
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Transcript
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| 0:00.0 | This is the White Coat Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street. |
| 0:06.0 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:12.0 | Here is your host, Dr. Jim Dolly. |
| 0:15.0 | This is White Coat Investor Podcast number 172, |
| 0:21.0 | Behavioral Finance with Morgan Howzel. |
| 0:25.0 | Still not sure what to do with your student loans, |
| 0:27.0 | overwhelmed with how to tackle that giant debt |
| 0:29.2 | in an ever-changing political climate. |
| 0:31.3 | The expert's Student Loan Advice.com are here to help guide you |
| 0:34.6 | through the best options to manage your loans. Our experienced staff have consulted on |
| 0:38.9 | over 250 million dollars in student loan debt and the average student loan advice.com |
| 0:43.9 | client has saved over a hundred ninety thousand dollars. You will receive a |
| 0:48.0 | customized student loan plan using the principles of the whitecoat investor get |
| 0:51.8 | answers to all of your student loan questions, gain clarity about your financial future, and start down the right path toward financial freedom. Book a consult today at student loan advice.com. You can do this and the white code investor can help. |
| 1:05.6 | All right, welcome back to the podcast. I hope you're having a great month. |
| 1:10.8 | We're recording this. Let's see, in July, July 30th to run on August 20th. |
| 1:16.5 | Sorry, we got to record things in advance sometimes when I go on too many trips. |
| 1:20.3 | Apparently, we're not going to be recording for a few weeks due to a trip to the Teton's I'm taking my daughter on so |
| 1:27.7 | Hopefully this isn't totally out of date in three weeks, but I don't think it will be I think it's going to be pretty evergreen. |
| 1:33.0 | Let's hit our quote of the day. |
| 1:35.0 | This one comes from Christine Ben's the Director of Personal Finance at Morningstar. |
| 1:39.0 | She said, |
... |
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