Author Morgan Housel discusses Duty Free Shoppers co-founder Chuck Feeney's relationship with wealth on Capital Allocators.
Opinion
Housel: Elon Musk's Greatest Product Is Tesla Stock, Not Its Cars
“The greatest product that Elon Musk has ever made is not a Tesla car. It's not a SpaceX rocket. It's Tesla stock. It's the ticker TSLA. Because what he has done is he has told a more effective story about what Tesla might become in the future than maybe any ot…”
Insight
Housel: Excessive VC Capital Broke Good Businesses by Forcing Unnatural Growth
“There were so many businesses in the last decade that were good businesses with a good product that customers loved. And let's say their natural growth rate was 50% per year. Just throwing that out there. But a lot of VCs are like, oh, we're going to give you …”
Prediction Not checkable as stated
Housel: 50 Years of Indexing Beats 98% of Investors Net of Fees
“And I also know that if I can be an index fund investor for 50 years, I will probably end up in the top two percent of all investors who are doing this, particularly after fees, after taxes, transaction costs, top two percent.”
Insight
Housel: Financial Pundits Escape Penalty for Being Wrong by Soothing Clients
“If you are a pundit in the financial industry or an analyst or an economist, whatever word you want to use, If you tell people what they want to hear, you can be wrong for a long time without any penalty, because what you are doing, you're giving your clients …”
Opinion
Morgan Housel attributes 99 percent of Warren Buffett's success to time horizon
“We know with just the simple arithmetic, he's done what he's been able to do because he's been investing for 75 years. That's it. That's 99% of the explanation. So the only book describing Buffett's success, if you want to emulate that success, is the title of…”
Opinion
Housel: A Majority of Personality May Be Inherent at Conception
“Part of that too, actually a huge part of it, is my growing belief that a lot of our personalities, maybe the majority of our personalities, are forged at conception, and there's nothing we can do about it. It's just on the nature-nurture spectrum, there's a l…”