Morgan Housel: How Smart Entrepreneurs and Investors Grow Wealth on Autopilot | Finance | E336

Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

YAP Media Network

Education, Marketing, Entrepreneurship, Business, Self-improvement

4.8 • 1.3K Ratings

🗓️ 10 February 2025

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

Morgan Housel once looked back at his twenties as a carefree, simple time, living in a beautiful apartment with his wife. But she quickly reminded him how anxious he truly was. His nostalgia had erased the uncertainty he once felt, just like how investors look back at past market growth and assume success was inevitable. In this episode, Morgan explains why the past is never as clear as we remember and why the future won’t be either. He also shares how entrepreneurs can build wealth despite uncertainty, the key to long-term success in the stock market, and practical strategies for sustainable financial planning. In this episode, Hala and Morgan will discuss: (00:00) Introduction (02:14) Why Most Financial Resolutions Fail (04:06) Balancing Saving and Spending Habits (09:15) The Power of Long-Term Investing (13:30) Navigating Startup Risks Wisely (15:49) What Sets Genius Entrepreneurs Apart (18:50) Why Doubt Is Necessary for Entrepreneurs (22:23) How Hindsight Can Misguide Investors (29:22) Wealth Inequality in the Social Media Era (34:36) Turning Anxiety About the Future into Action (40:23) The Financial Mistakes We Keep Repeating (48:38) Elon Musk’s Extreme Risk-Taking Strategy (50:42) Embracing Failure for Lasting Success (53:55) How Rumors Shape Financial Markets Morgan Housel is an investor, partner at The Collaborative Fund, and author of the New York Times bestsellers The Psychology of Money and Same As Ever. A former columnist for The Motley Fool and The Wall Street Journal, he simplifies complex financial ideas, emphasizing long-term thinking, compounding, and decision-making over market predictions. He is also a two-time Best in Business Award winner from the Society of American Business Editors and Writers. Connect with Morgan: Website: morganhousel.com Linkedin: linkedin.com/in/morgan-housel-5b473821 Instagram: instagram.com/morganhousel Twitter: x.com/morganhousel Facebook: facebook.com/morgan.housel.5 Sponsored By: Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify Airbnb - Your home might be worth more than you think. Find out how much at airbnb.com/host Rocket Money - Cancel your unwanted subscriptions and reach your financial goals faster with Rocket Money. Go to rocketmoney.com/profiting Indeed - Get a $75 job credit at indeed.com/profiting RobinHood - Receive your 3% boost on annual IRA contributions, sign up at robinhood.com/gold Factor - Get 50% off your first box plus free shipping when you use code FACTORPODCAST at factormeals.com/profiting50off Active Deals - youngandprofiting.com/deals Resources Mentioned: Morgan Housel: How to ACTUALLY Build Wealth, Investing to Gain Financial Independence | E266: youngandprofiting.co/4147SpO Morgan’s Book, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness: amzn.to/3EoljZ0 Morgan’s Book, Same as Ever: A Guide to What Never Changes: amzn.to/4aOX7uV Morgan’s Podcast, The Morgan Housel Podcast: bit.ly/3EljBre Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new All Show Keywords: Entrepreneurship, entrepreneurship podcast, Business, Business podcast, Self Improvement, Self-Improvement, Personal development, Starting a business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side hustle, Startup, mental health, Career, Leadership, Mindset, Health, Growth mindset. Finance, Financial, Personal Finance, Wealth, Stock Market, Scalability, Investment, Financial Freedom, Risk Management, Financial Planning, Business Coaching, Finance Podcast, Investing, Saving.

Transcript

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0:00.0	New Year's resolutions don't tend to hold up,
0:02.5	because if you need to do something new on January 1st
0:05.8	that you are unwilling to do on December 31st,
0:08.5	you're almost certainly not going to stick with it.
0:10.3	Most people have too much of their money in stocks,
0:13.6	and they should have less.
0:14.9	And the reason why is...
0:16.3	How can we actually plan out what we want to spend our money on this year? If you can earn average returns for an above average period of time,
0:24.6	you will be among the top investors in the world.
0:27.6	Most people are overconfident in what they can do.
0:30.6	You have to have this split personality of,
0:32.6	I'm so good at what I do, and I'm a complete idiot who has no idea what I'm doing.
0:40.4	Bullshit is easier to create than it is to refute.
0:42.8	So meme coins are an example of this.
0:45.5	Someone creates a meme coin and you're like, that's obviously bullshit.
0:46.8	And it becomes doge coin.
0:52.6	So how can we use this information when we're making investors and financial decisions. I think... Yeah, Bam, my guest today is back for his second visit to the show.
1:13.4	You may know him as the author of books like The Psychology of Money and Same As Ever,
1:17.8	or as the host of the Morgan Howell podcast.
1:20.9	I'm, of course, talking about Morgan Howsel.
1:23.6	Morgan is also a partner at the Collaborative Fund and a former columnist at the Motley Fool and
1:28.2	the Wall Street Journal. I spoke to Morgan about a year ago in episode 266 and we talked about
	...

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