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Morgan Housel

๐Ÿ‘ค Speaker
6219 total appearances

Appearances Over Time

Podcast Appearances

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

He doesn't think like you and I do.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

Of course he has very strange views about what we should do politically.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

But go on down the list, whether it's Zuckerberg or Bill Gates, like Jeff Bezos, all of them, the reason they're so successful is because their brains don't work like us.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

And a lot of them, I think, have harnessed their demons for productivity.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

And there's another saying from Paul Graham, the investor, who he says, half of the traits of the eminent are actually disadvantages and they succeeded in spite of those things.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

And so it gets dangerous when people try to mimic those traits of like, oh, Steve Jobs was successful and he was kind of a jerk to his employees.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

So maybe I should try to do that too.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

Like, no, he succeeded in spite of being a jerk to his employees.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

And so I think there's a lot of that.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

But in terms of the thin line between bold and reckless is always very difficult to understand in hindsight.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

One example of this is Cornelius Vanderbilt, who was the richest man in the world during his day.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

By any account, by even the most optimistic account, the most charitable account of what he did,

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

the huge portion of his wealth came from breaking laws, just completely flouting the laws.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

And he admitted that he had no qualms about that whatsoever.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

It was an era where he could get away with it.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

He could pay off judges.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

He did pay off judges.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

And we remember him today by and large as being wealthy entrepreneur, maybe like a maverick.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

It's so easy to imagine an alternative history in which eventually caught up with him and they threw him in prison.

Motley Fool Hidden Gems Investing
Morgan Housel on History, AI, and the Future of Investing

And we remembered him as like the old school Bernie Madoff.