Morgan Housel
12 statements across 1 episodes · 1 bullish · 3 bearish · 1 people on the record · first statement Apr 7, 2024 by Morgan Housel · said 1 times in 1 episodes since 2024 · across every show →
On the record as a speaker too: Morgan Housel's record, appearances and statements → this page counts the times other people say the name.
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Everything said about Morgan Housel, oldest first
Apr 7, 2024
Housel: Investors must believe absurd stories because winning startups also sounded ridiculous
“So the fact that we can point out Theranos and FTX and WeWork, I think doesn't do justice to say that, like, you shouldn't believe in ridiculous stories, because the ones that do work out were also ridiculous stories.”
Apr 7, 2024 neutral
Housel: Capital cycles inevitably attract tourist investors who leave in downturns
“It's always the case that whenever you have a capital cycle in any, whether it's public markets or private equity or VC, that you're going to get a lot of
Tourist investors, people who are there because it's fun and they want to be there to enjoy the view, but…”
Apr 7, 2024 positive
Housel: 'The Psychology of Money' grew from 5,000 print run to 5M+ copies sold
“The first print run of Psychology of Money was 5000 copies. And we did it because that's what we thought it was. If we sold 5000 copies, we would have been stoked. Like the book industry is not, it's not easy to get people to pay 25 dollars for a piece of cont…”
Apr 7, 2024 negative
Housel: Morning routine obsessions ignore basic cause and effect
“I think like the most perverse example of this Is the obsession with like morning routines. It's people getting so caught up in cause and effect that, you know, oh, if this person is, has this, if this successful person eats this for breakfast, that's what I s…”
Apr 7, 2024
Housel: Extreme outlier success is driven primarily by luck, without exception
“Daniel Kahneman, the great psychologist, he said something one time where he said, the greater, the degree of success, like the higher to the outlier the more standard deviations away from norm that you are of successful, the higher, the more luck played a rol…”
Apr 7, 2024
Housel: Risk and luck are external factors that outweigh intentional action
“I actually think that risk and luck are virtually the same things, just in opposite directions. Risk and luck, the definition that I would give to both of them are, there are things that can happen outside of your control that have a bigger influence on outcom…”
Apr 7, 2024 negative
Housel: WeWork was egregious storytelling, whereas Theranos and FTX were straight fraud
“And I would separate Theranos and FTX, which were just straight up fraud from something like WeWork, which was a story about what it could become, but it just became the most egregious kind of, I think Scott Galloway calls it yoga babble where it's like, no, t…”
Apr 7, 2024 bearish
Apr 7, 2024 neutral
Housel: Extreme founder success is normally paired with undesirable personal traits
“So many, maybe there are exceptions to this, but I think it is the norm that the ridiculously successful, crazy genius entrepreneur also has personality traits that you and I would not want to associate with, probably wouldn't want to work with, wouldn't want …”
Apr 7, 2024 neutral
Apr 7, 2024 neutral
Housel: Outlier achievers are driven by internal torture, not motivation
“The right word to describe a lot of these people in any career, whether it's sports or startups, whatever it would be, is not even, it's not driven. It's not motivated. I think the right word is tortured. They are tortured that they are there. There's a proble…”
Apr 7, 2024
Housel: Economic pessimism and founder hate stem from status insecurity
“I just think a lot of whether it's jealousy or economic pessimism is because people who don't feel good about their success They almost fantasize about other people failing in order to make themselves like justify their lower status in the world.”