The Morgan Housel Podcast

The luckier you are the nicer you should be, plus three questions from you.

Transcribed - Published: 1 June 2026

This podcast is going through some changes. As part of the new format, I'll be answering your questions on future episodes. Have a question? Send it to pod@longtermwords.com.

Transcribed - Published: 25 May 2026

Generational progress, wealth, and spoiled kids.

Transcribed - Published: 6 April 2026

We're back! A list a few big things I've been thinking about lately.

Transcribed - Published: 16 January 2026

This is a full-chapter preview of my new book, The Art of Spending Money, out today. Click here to buy the book.

Transcribed - Published: 7 October 2025

We became aware of each other at the same time we grew apart financially, and the psychology of when news went from local to national to global.

Transcribed - Published: 1 October 2025

From the archives: one of my favorite topics -- the importance of playing your own game. Thanks to my friends at Public.comAll investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Alpha is an experimental AI tool powered by GPT-4. Its output may be inaccurate and is not investment advice. Public makes no guarantees about its accuracy or reliability—verify independently before use.

Transcribed - Published: 12 September 2025

Pre-order my new book The Art of Spending Money here. ***Thanks to my friends at Public.comAll investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Alpha is an experimental AI tool powered by GPT-4. Its output may be inaccurate and is not investment advice. Public makes no guarantees about its accuracy or reliability—verify independently before use.

Transcribed - Published: 29 August 2025

Thanks to my friends at Public.comAll investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Alpha is an experimental AI tool powered by GPT-4. Its output may be inaccurate and is not investment advice. Public makes no guarantees about its accuracy or reliability—verify independently before use.

Transcribed - Published: 15 August 2025

Thanks to my friends at Public.com and their podcast The Rundown -- ⁠click here for more.⁠

Transcribed - Published: 7 August 2025

Thanks to my friends at Public.com and their podcast The Rundown -- click here for more.

Transcribed - Published: 29 July 2025

Thanks to my friends at ⁠⁠Ramp⁠⁠ -- the best expense accounting system I've seen. For more check out ⁠⁠ramp.com/morgan.

Transcribed - Published: 2 June 2025

Thanks to my friends at ⁠Ramp⁠ -- the best expense accounting system I've seen. For more check out ⁠ramp.com/morgan.

Transcribed - Published: 16 May 2025

Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 6 May 2025

Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 24 April 2025

Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 16 April 2025

Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Transcribed - Published: 8 April 2025

The most impactful idea to me personally in my book: My theory is that most investment models maximize for risk-adjusted returns, but in the real world every investor wants to maximize for sleeping well at night and being proud of themselves in a complicated world.Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Transcribed - Published: 2 April 2025

One of my favorite psychology studies showed that if you know a reward is coming, but you don't know exactly when, you are susceptible to losing your mind. Isn't it so similar in investing? Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 28 March 2025

I heard a phrase recently: “Magazine architect.”It’s a derisive term architects use for their colleagues who design buildings that look beautiful, grace magazine covers, and win awards, but lack functionality for the tenants.The same is so true for financial professionals. If you are looking for practical advice, beware hiring an artist whose goal is to be praised should be, too.Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 20 March 2025

A few ideas on why prediction is so hard, and the weird things than happen in our head when we want certain outcome to be true. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Transcribed - Published: 14 March 2025

Technology is a science. It’s semiconductors and code and batteries.But Steve Jobs talked about how the iPad was playful and begged you to pick it up as much as he’d talk about its processor. The iPhone is a technological marvel, but Jobs spent a lot of time talking about how it felt in your hand, and the experience of opening the box.Job’s insight, and the most important factor in Apple’s success, was realizing that technology isn’t merely a science. It’s just as much an art.Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 12 March 2025

A few things you might consider disadvantages that actually, in hindsight, could end up as something you're grateful for. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Transcribed - Published: 4 March 2025

A simple formula for a pretty nice life is independence plus purpose.Purpose is different for everyone. Sometimes it’s family, sometimes it’s community, religion, work, whatever.But independence is more universal. Our desire to be independent, why we want it, what prevents us from achieving it, and why some people sabotage their ability to have it, is such a common story across cultures and generations.Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more. 

Transcribed - Published: 28 February 2025

A collection of things I've been thinking about lately that I hope you find valuable regardless of your profession. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more. 

Transcribed - Published: 21 February 2025

A story about how tails drive everything, and why the vast majority of your success in investing and in life will come from just a few of the things you do. Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 7 February 2025

Everyone knows one version of the world -- the one that's actually happened. But that's just one of infinitive possibilities that could have occurred. I asked ChatGPT to write different versions of how my life could have ended up, and was stunned by the results. I'd be you'd have the same experience. Thanks to my friends at 10 East -- check out 10east.co.

Transcribed - Published: 29 January 2025

Most people – and definitely society as a whole – seem to have a minimum level of stress. They will never be fully at ease because after solving every problem the gaze of their anxiety shifts to the next problem, no matter how trivial it is relative to previous ones. Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Transcribed - Published: 24 January 2025

A look at the big story dominating this year: tails drive everything, and everything from businesses to careers either work extraordinarily well, or not at all.  With thanks to my friends at Nitrogen: check out nitrogenwealth.com.

Transcribed - Published: 23 December 2024

A look at why so many Americans think the best was better than it was: People in the past may have been poorer than we are now, but they probably did a better job keeping their expectations in check. Thanks to my friends at nitrogenwealth.com.

Transcribed - Published: 18 December 2024

The world evolves faster than people's beliefs do. This episode looks at the need to change your mind, and why it's so difficult to do so.  Thanks to my friends at 10 East -- check out 10east.co. 

Transcribed - Published: 6 December 2024

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

Transcribed - Published: 27 November 2024

If you're a student of history, you know that most things have gotten better for most people over time. But read the news and what do you hear? Pessimism, pessimism, pessimism.  There are several reasons why.  Special thanks to my friends at Readwise -- check out Readwise.IO/morgan.

Transcribed - Published: 15 November 2024

A few easy-to-overlook skills that are so vital in today's world.  Brought to you my friends at Readwise -- visit Readwise.io/morgan. 

Transcribed - Published: 4 November 2024

This episode digs into one of my favorite books of all time: The Big Change by Frederick Lewis Allen. Written in 1952, it's a remarkable look at how quickly the world can change, with so many profound insights that I find relevant today.  Special thanks to my friends at Readwise.io/morgan for making this happen. 

Transcribed - Published: 22 October 2024

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.

Transcribed - Published: 10 October 2024

A lot of mistakes in life come when you think risk is something caused by external forces, when in fact the weight of your own success is enough to pull you down without any outside help. 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.

Transcribed - Published: 4 October 2024

The ultimate success metric is whether you get what you want out of life. But that’s harder than it sounds because it’s easy to try to copy someone who wants something you don’t. 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.

Transcribed - Published: 27 September 2024

Some of the most interesting stuff I've come across lately. 

Transcribed - Published: 12 September 2024

In some fields our knowledge is seamlessly passed down across generations. In others, it’s fleeting. To paraphrase investor Jim Grant: Knowledge in some fields is cumulative. In other fields it’s cyclical (at best).

Transcribed - Published: 29 August 2024

Jeff Bezos once said there are different kinds of smart. Distinguishing the various flavors is important because if you think smarts comes in just one form, you’ll miss dozens of other nuanced varieties.BS is the same. It comes in countless forms, some harder to spot than others. False modesty, projecting, double standards, hypocrisy, tugging at heartstrings – these aren’t lies; they’re subtle forms of BS which is why they’re so prevalent.

Transcribed - Published: 25 July 2024

A few important money and life topics to make you ponder. 

Transcribed - Published: 1 July 2024

"Nature is not in a hurry, yet everything is accomplished,” said Chinese philosopher Lao Tzu.Giant sequoias, advanced organisms, towering mountains – it builds the most jaw-dropping features of the universe. And it does so silently, where growth is almost never visible right now but staggering over long periods of time.It’s quiet compounding, and it’s a wonder to see.I like the idea of quietly compounding your money. Just like in nature, it’s where you’ll find the most impressive results.

Transcribed - Published: 17 June 2024

My deepest forecasting belief is that you can better understand the future if you focus on the behaviors that never change instead of the events that might.And those behaviors have a common denominator: They follow the path of least resistance of people trying to simplify a complex world into a few stories that make sense and make them feel good about themselves.Simple stories, feel-good stories. Those are some of history’s most seductive beliefs, and they always will be.Here are a few that stick out.

Transcribed - Published: 11 June 2024

The most productive work you can do often looks like the laziest -- but it can be hard to accept that because of how the workplace has changed over the last 100 years. 

Transcribed - Published: 24 May 2024

Every great idea can be taken too far.  Take the notion that investors should ignore the short run.It's important to recognize that the long run is just a collection of short runs, and capturing long-term growth means managing the short run effectively enough to ensure you can stick around for a long time.

Transcribed - Published: 13 May 2024

I wrote letters to both of my kids the day before they were born.  Here's what I wanted them to know about money.  And even if you don't have, or want, kids, I think you'll find this helpful. 

Transcribed - Published: 6 May 2024

Hacks are hard because shortcuts rarely exist. Prizes take time and effort.The personal finance industry – filled with advice that sounds and feels good without moving the needle – needs to recognize this.These aren’t fun hacks, but no one said this was easy.

Transcribed - Published: 25 April 2024

Luck plays such a big role in the world. But few people want to talk about it. If I say you got lucky, I look jealous. If I tell myself that I got lucky, I feel diminished. Maybe a better way to frame luck is by asking: what isn’t repeatable? And maybe better yet: The way to get luckier is to find what’s repeatable.

Transcribed - Published: 11 April 2024

The fun part of behavioral finance is learning about how flawed other people can be. The hard part is trying to figure out how flawed you are, and what stories make sense to you but would seem crazy to others.

Transcribed - Published: 5 April 2024