STREET DOGS: Morgan Housel on investing
Here are some of the things Housel picked up in 10 years of writing on the markets
Morgan Housel started writing about investing 10 years ago. These are some of the things he says he’s learned along the way: • Most investors have a hard time distinguishing between what happened and what they think should have happened. • Not caring about temporary things and obsessing over permanent things is underrated. •Most risks are overblown, except the ones no one’s talking about. • There are two red flags: beliefs that haven’t changed in 20 years and beliefs that changed overnight. • Good marketing wins in the short run, good products win in the long run. • Telling the difference between patience and stubbornness is hard. • The number of words is negatively correlated with the amount of insight. • People can be led to believe and defend anything with the right incentives. • The ability to absorb manageable damage is the key to success for businesses, careers and investments. • Every investor should go to investment conferences, if only to meet 400 people who think like you,...
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