We Study Billionaires - The Investor’s Podcast Network
Business:Investing
On today’s episode, Clay is joined by Morgan Housel to discuss his newest book, Same as Ever, and uncover the key themes in financial history that have never changed.
Morgan Housel is a partner at The Collaborative Fund. He’s the New York Times Bestselling author of The Psychology of Money and Same As Ever. His books have sold over 4.5 million copies and have been translated into more than 50 languages. He also serves on the board of directors at Markel.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
02:34 - The key themes that seem to never change throughout history.
04:37 - Why the world is much more fragile than we’re led to believe.
09:04 - Why the biggest risk is the one you don’t see coming.
24:49 - The true power of exceptional storytelling.
23:28 - The importance of thinking probabilistically.
27:00 - Why every stock valuation is a number from today multiplied by a story about tomorrow.
27:32 - Why successful stock picking is about so much more than the numbers.
29:22 - Why market extremes such as the meme stock craze are not unnatural, and they should actually be expected.
32:19 - Morgan’s investment approach.
38:21 - Why most investor’s biggest advantage is patience.
41:31 - Why most competitive advantages eventually die.
51:33 - How the world’s most successful people utilize inefficiency and slack to achieve more.
55:43 - Why Morgan writes for an audience of one.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
SPONSORS
Support our free podcast by supporting our sponsors:
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Learn more about your ad choices. Visit megaphone.fm/adchoices
TIP635: Deep Diving Into The Warren Buffett Way w/ Robert Hagstrom
TIP634: Value Investing Fundamentals w/ John Huber
BTC184: Q2 Macro w/ Luke Gromen (Bitcoin Podcast)
RWH045: Real Success w/ Christopher Tsai
TIP633 : What I Learned from Chris Mayer w/ Clay Finck
BTC183: Bitcoin Investing Opportunities in Africa w/ Abubakar Nur Khalil
TIP632: Mastermind Q2, 2024 w/ Tobias Carlisle and Hari Ramachandra
TIP631: The Bullish Energy Cycle w/ Arvind Sanger
BTC182: Bitcoin Mastermind 2Q 2024 (Bitcoin Podcast)
TIP630: The Wealthy Gardener w/ Kyle Grieve
TIP629: Berkshire Hathaway Annual Shareholder's Meeting 2024 w/ Clay Finck and Kyle Grieve
BTC181: The US's Economic Hitman w/ John Perkins
TIP628: The Inner Scorecard w/ Mohnish Pabrai
TIP627: Best Quality Idea Q2 2024 w/ Clay Finck & Kyle Grieve
BTC180: The Current Challenges Bitcoin Faces w/ Max Hillebrand (Bitcoin Podcast)
RWH044: How To Beat The Market w/ Bryan Lawrence
TIP626: Intelligent & Rational Long-Term Investing w/ François Rochon
BTC179: The Business of Football and Bitcoin w/ Peter McCormack (Bitcoin Podcast)
TIP625: Berkshire Hathaway w/ Chris Bloomstran
TIP624: Studying Financial History w/ Clay Finck
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Forward Guidance
Macro Voices
Money Girl
So Money with Farnoosh Torabi
The YNAB Podcast