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Shane Parrish

๐Ÿ‘ค Speaker
16064 total appearances

Appearances Over Time

Podcast Appearances

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

In this sense, it changes our behavior.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And because it โ€“ oh, like I want to invest in whatever this get rich quick scheme is or โ€“ how do you think about that?

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And how we teach this has such an impact.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And you mentioned high school students.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

So one of my kids last year came home and he's like, we're having an investing competition in class.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And I was like, well, tell me about this competition.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And it was basically a weekly competition to see who could make the most money.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

I was like, but you're not investing.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

You're speculating.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

I want to come back to the index funds for a second.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

One of the comments we had before was people wanted to know what specific index funds you invest in and what the allocation within those is.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

So if you had 100% of your money into index funds, what percentage is in which?

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

So you're a smart guy.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

So you own VTI.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

What is the S&P 500 right now?

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

I mean, the vast majority of that, that's weighted.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

So a large, historically at least, a large percentage of that is made up of the top 10 companies.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

Or the top three, let's say, yeah.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And you're smart and you hear this and you're like, well, I know history would indicate that this is going to go sideways.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

So I should sell my index funds or how do you think through this or like, how do you keep going?