#morgan-housel — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #morgan-housel, aggregated by home.social.
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Toss Securities announces 'Investors 25', its first major offline investment event featuring global experts like Morgan Housel, set for June 5-8 in Seoul
#YonhapInfomax #TossSecurities #Investors25 #MorganHousel #InvestmentEvent #FinancialEducation #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=63387 -
#ThePsychologyofMoney #Book
By #MorganHousel
1. Doing well with money has little to do with how smart you are and a lot to do with how you behave.
2. Getting money is one thing. Keeping it is another.
3. Use the money to gain control over your time.
4. Controlling your time is the highest dividend money pays.
5. Independence doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.
https://www.holisticinvestment.in/money-lessons-from-psychology-of-money-book/ -
A package deal
I often find myself drawn into looking at what other creatives are looking at; I find interest in that second degree of separation. I may be interested in a particular creative person, but only if I’m interested in their specific work. But nearly every creative person I encounter, I’m always asking (literally, or in my internal dialog): Where did they get that idea? What were the inspirations that led to that composition. I suppose that’s right next to being interested in the creative process itself—but that’s not quite it. I don’t really want to know how they do what they do. I want to know who they are, and why they do what they do.
The key thing is that unique minds have to be accepted as a full package, because the things they do well and that we admire cannot be separated from the things we wouldn’t want for ourselves or look down upon.
~ Morgan Housel, from Wild Minds
slip:4ucobo8.
I think it was Homer (Simpson, I mean) who said, just because you are unique, doesn’t mean you are useful. That too harsh by half. It’s not necessary that one be useful (but it’s nice if you want to be able to say, buy food or put a roof over your head.) I want to push back against ‘ol Homer there and amend that to be: Just because you are unique, doesn’t mean people will understand you.
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Everything combines
Everything we experience, do, say and think combines with everything. It’s not strictly fractal because it’s not necessarily self-similar. It’s a rolling boil of randomness within which we find meaning. The meaning isn’t everywhere in there. It’s a precious discovery and in searching for it, we develop a scarcity mindset. We build up skills and heuristics for finding and keeping (learning, remembering) that meaning. Things get simplified so we can hold on to them.
In each case it’s easy to underestimate risk—or at least to be surprised at what happens—because the initial ingredients seem harmless. The idea that two innocent small things can combine to form one big dangerous thing isn’t intuitive.
The same things happens with personality traits.
~ Morgan Housel, from Vicious Traps
slip:4ucobo1.
The very powers which enable us to interact with the world and to grapple—with varying degrees of effectiveness—with our own minds, are the ones which cause us to err. Everything combines and we’re always gauging the size of the effects of each combination. How do we keep errors from creeping into our mindset and world view? Or rather, knowing that they are continuously creeping in, how do we attempt to weed them out? Self-reflection.
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“Think of it this way: Would you rather make $100,000 a year with a spouse who loves you, children who admire you, good friends, good health, and a clear conscience, or make $1,000,000 and have none of those things?”
- #MorganHousel https://collabfund.com/blog/a-few-laws-of-getting-rich/?ref=refind -
Creativerly 237 is out featuring
Tools: #Gridea, #TaskPaper by #HogBaySoftware (cc @jessegrosjean, and news and updates from #acreom, #Skiff, #WordPress, and #Reflect.
Articles: #AnisahOsmanBritton, #LauraHartenberger, #MorganHousel, #OlgaKhazan
Read the whole issue here: https://creativerly.com/intelligent-vs-smart/
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Make a point
I write because it requires me to think. There’s no particular reason why I need to publish what I write. Having targets for what to write, and on what schedule to publish it, simply keeps me accountable. I am certainly better off for having done the writing and the thinking.
Make your point, make it clear, and get out of the reader’s way.
~ Morgan Housel, from Useful Laws of the Land
slip:4ucobo14.
By reading what others have written, I’ve found myself standing on the shoulders of giants.
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Can I flip this?
I expend a lot of time and energy thinking about technology. I’m often trying to share some idea with others, or trying to make a change in the world. But year by year I’m shifting to spending more of that time and energy simply deciding what technology I want to adopt. Mastodon and the corresponding ActivityPub technology which creates the Fediverse is a great example. Should I join in on that new technology and create a presence there?
Grasping the value of new technology requires imagination. But unless you have skin in the game that doesn’t seem worth the effort because technology is supposed to make things easier and simpler, not wrack your brain.
slip:4ucobo16.
Housel’s covers that, and three other intriguing points about why new technology is a hard sell. I’m left wondering could I use the points raised in the article to help me make decisions about technology? If I flip the article’s thinking over (from an others-directed “why doesn’t technology get adopted” direction to a self-directed “why I might not adopt technology” direction) then I can ask myself corresponding questions. For example, for the quoted point above, I can ask: Am I engaging my imagination at all when considering some piece of technology? (Aside: I decided, yes, and you can search for
@[email protected]wherever you are in the Fediverse.)ɕ
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I waffled on my title. I started a draft with the current title, which is simply item #7 plucked from Housel’s post. Later, I misread it as “Irreverant…” and, even after noticing my speling error, still thought myself clever; “Haha, yes, I am irreverant in all circumstances.” Which my mind then toggled back to “irrelevant” and, “Yes, I am probably also irrelevant in all circumstances.” Ouch.
The firehose makes it easy to mirror the poor Oxford boy: since information is free and ubiquitous but adding context has a mental price, the path of least resistance is to know facts without a clue where they go or whether they’re useful.
~ Morgan Housel from, https://collabfund.com/blog/different-kinds-of-information/
And no, it’s not at all a diss on [a]social media. It’s a terrific little post listing different kinds of information. I’d love to be a source of a large amount of #2 and #4. But if I’m being honest, I’m more a source of #5. …and #7, I definitely generate a lot of that. Maybe even some of #8—but only in the, “oh my gawd, no! Spit that out!” sort of way.
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#2 #4 #5 #7 #7-for-sunday #experience-and-learning #knowledge-systems #morgan-housel #wisdom
https://constantine.name/2023/07/09/irrelevant-in-all-circumstances/
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Creativerly 226 is out featuring
Tools: #Spacedrive, #Webstudio, and fresh updates and news from #Coda (AI Integration), #Uizard (Autodesigner), and #DETA (New website and docs).
Articles: #GregMcKeown (#HarvardBusinessReview), #MorganHousel (#CollaborativeFund), #MarkManson, #JuddAntin
Read the whole issue here: https://creativerly.com/a-file-explorer-from-the-future/
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This collection of epigrams by #MorganHousel is golden, and it summarises so well my own thinking in some areas, like #philosophy, #economics:
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Creativerly 219 is out featuring
Tools: #StudioAI, @omnivore, and new updates by #Napkin, #Supernotes, and #Capacities.
Articles: #SimoneStolzoff (http://every.to), #AnneLaureLeCunff (nesslabs.com), #AllieVolpe (vox.com), #MorganHousel (collabfund.com).
This issue has been brought to you by Meco (https://www.meco.app/get/4rks?ref=creativerly.com) ✨
Read it here: https://creativerly.com/the-read-it-later-app-for-serious-readers/
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A Few Rules
The person who tells the most compelling story wins.
Something can be factually true but contextually nonsense.
Tell people what they want to hear and you can be wrong indefinitely without penalty.
Woodrow Wilson said government "is accountable to Darwin, not to Newton."
Behavior is hard to fix.
"Logic is an invention of man and may be ignored by the universe," historian Will Durant.
Being good at something doesn’t promise rewards.
The world is governed by probability, but people think in black and white ... because it’s easier.
Henry Luce: "Show me a man who thinks he’s objective and I’ll show you a man who’s deceiving himself."
People learn when they’re surprised.
Most fields have only a few laws.
The only thing worse than thinking everyone who disagrees with you is wrong is the opposite: being persuaded by the advice of those who need or want something you don’t.
Simple explanations are appealing even when they’re wrong.
Self-interest is the most powerful force in the world. (For good and bad.)
History is deep.
Don’t expect balance from very talented people.
Progress happens too slowly to notice, setbacks happen too fast to ignore.
It is way easier to spot other people’s mistakes than your own.
Reputations have momentum in both directions.
History is driven by surprising events, forecasting is driven by predictable ones.
-- Morgan Housel
(Abridged, see source for full version.)