Morgan Housel
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Morgan Housel

Partner, Collaborative Fund and Columnist, The Motley Fool

Award-winning financial analyst, Morgan Housel uses history, psychology, and recent business trends to tell stories about how investors, economists, and business leaders go astray, and what they can do to overcome their own biases and pitfalls.

  
What Other Fields Teach Us About Investing

Investing is more than just the study of finance. It’s ultimately the study of human behavior and how people react under pressure and with limited information. There are many lessons from diverse fields that can teach us valuable investing takeaways, such as how the War on Cancer focuses on complicated treatments with low chance of success while discounting simple prevention that can make a massive difference. The best investors in the world integrate knowledge from many different fields, including psychology, sociology, history, biology and physics. Morgan Housel shares four lessons from different fields to help make you a better investor.

The Messy World of Risk

Risk, in investing textbooks, is taught as the stock market going up and down. In the real world, risk is far more complicated, harder to define and different for every investor. Risk in the real world is not being able to meet your financial goals, which is primarily caused by investors’ own biases and behaviors, particularly buying when the market is high and selling after a pullback. Morgan Housel shares five clear stories of how investors, business executives and everyday people misinterpreted risk to disastrous consequences, and how investors can identify and correct their own biases to make better investment decisions.

You Are Here*

If the market never fell, it wouldn’t be risky. If it wasn’t risky, everyone would buy it. If everyone bought it, it would get expensive. When it’s expensive, it’s risky. And when it’s risky, it falls. Morgan Housel shows why market volatility and bear markets are not only normal, but inevitable. Using stock market history, economic theory and current examples of real investors, he walks audiences through the history of bull and bear markets, turning points and the smartest ways investors can navigate volatility—namely, learning how to deal with and accept it, rather than attempting to avoid it.

Meet Morgan Housel

Award-winning financial analyst, Morgan Housel uses history, psychology, and recent business trends to tell stories about how investors, economists, and business leaders go astray, and what they can do to overcome their own biases and pitfalls.

Morgan Housel is a partner at the Collaborative Fund, a venture capital firm backing young companies that are moving the world forward. He is also a columnist at The Motley Fool, where he specializes in the psychology of investing. Previously, he was a columnist at The Wall Street Journal. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers and was selected by the Columbia Journalism Review for the Best Business Writing anthology. In 2013 and 2016, he was a finalist for the Gerald Loeb Award and Scripps Howard Award. Using insights from psychology, history, neurology and sociology, Morgan walks audiences through the cognitive biases that cause investors to become their own worst enemies, and explains how understanding your own behavior can be the key to reaching your financial goals. An expert on behavioral finance and investing history, his presentations combine storytelling with the latest research to discuss the current state of financial markets, the investment industry and personal finance. He has authored two books: Everyone Believes It; Most Will Be Wrong and 50 Years in the Making: The Great Recession and Its Aftermath. “Morgan Housel’s explanatory skills are simply superb. Best of the class,” praised the judges of the prestigious Society of American Business Editors and Writers.

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