Morgan Housel (@morganhousel), partner at Collaborative Fund, and author of the book The Psychology of Money, joins Erik on this episode to discuss:
- Why it’s not realistic to be rational and an investor should aim to be merely reasonable instead.
- What people don’t understand about compounding.
- The difference between getting wealthy and staying wealthy.
- Bets on what is going to change vs. what is not going to change.
- Why people overestimate the benefit that money brings to them.
- The value of owning your time.
- What we can learn from the partnership of Buffett and Munger.
- His advice on resisting the allure of pessimism.
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