everything i've learned from Morgan Housel

two books in ten minutes: The Psychology of Money & Same As Ever

Some authors have an extraordinary gift of storytelling. For me, Morgan Housel is a prime example of such a talent — his use of accessible language, engaging anecdotes, and a deep understanding of data make him one of my favorite non-fiction authors.

Recently, I revisited his book The Psychology of Money and delved into Same As Ever for the first time. Both works have become akin to personal finance bibles for me, offering a comprehensive introduction to the realms of investing, the history of greed, the art of risk optimization, and the navigation of uncertainty.

The Psychology of Money: The book is a compelling, quick read that shows how the ability to achieve wealth often depends more on healthy behavioral skills than on intelligence — and that behavior is often hard to teach. He illustrates his points through a series of short stories about people’s money-making decisions. Here are my favorites.

Your personal experiences with money make up maybe 0.0000001% of what’s happened in the world, but maybe 80% of how you think the world works.