The Psychology of Money & Storytelling (ft. Morgan Housel)
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What insights does Morgan Housel share about the psychology of money?
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Please remember that all of the information in this podcast episode is limited to general information only. That means the information is not specific to you, your needs, goals, or objectives. So you should seek the advice of a licensed and trusted financial professional before acting on the information. And before you acquire or apply for a financial product, please read the PDS or product disclosure statement, which should be available on the issuer's website. Lastly, please keep in mind that past performance is not indicative of future performance.
Morgan Housel is a partner at the Collaborative Fund. Previously, he was a columnist at the Wall Street Journal and the Motley Fool. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, the New York Times Sydney Award, and a two-time finalist for the Jareb Loeb Award for Distinguished Business Writing. Basically, Morgan is a big deal. And while I don't know about Kate, I think Morgan is one of, if not the, best investment writers in the world. You've probably heard either Kate or I say things like, 99% of long-term investing is doing nothing. The other 1% changes your life. That was a title of a blog that Morgan wrote. Naturally, Kate and I are stoked to have Morgan on the show and talk about his new book, The Psychology of Money.
I've listened to the book on Audible. Side note, if you're new to Audible, you may be able to get two books for free. But more recently, I bought Morgan's book and I've been flicking back to the parts of it that I found most interesting and most inspiring. Kate and I really hope you enjoy this episode of the Australian Finance Podcast. Let's get into the episode. Kate, welcome to this very special episode of the Australian Finance Podcast.
It's good to be back, Owen, for a brand new year.
Yes, it is indeed. Today we're talking to Morgan Housel. I feel like Morgan's name is brought up probably more often than any other on the show. And many of our listeners would be familiar with Morgan's work. But yeah, Morgan, without trying to butcher an intro to you, you've got a new book out, currently working at the Collaborative Fund, formerly of The Motley Fool. prolific writer. I'm so grateful that you've put your thoughts into a book and that you've taken the time out to join us today. So welcome.
Thanks so much for having me. It's an honor to be here. I love speaking with investors from other countries, so it's really fun to get to do this. Wonderful.
Yeah. Morgan, why don't we just start at the top? You've got the new book, The Psychology of Money.
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Sounds like good money advice... But is it?