{"id":2098152,"date":"2023-11-14T08:05:02","date_gmt":"2023-11-14T13:05:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-housels-new-book-might-be-the-same-as-ever-but-common-sense-never-changes\/"},"modified":"2023-11-14T08:11:49","modified_gmt":"2023-11-14T13:11:49","slug":"morgan-housels-new-book-might-be-the-same-as-ever-but-common-sense-never-changes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-housels-new-book-might-be-the-same-as-ever-but-common-sense-never-changes\/","title":{"rendered":"Morgan Housel&#8217;s book remains timeless as common sense endures."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmorgan-housels-new-book-might-be-the-same-as-ever-but-common-sense-never-changes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2098152&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"article-content\">\n<h2 class=\"wp-block-heading\">The Power of Simple \u200bPrinciples in Investing<\/h2>\n<p>C.S. Lewis once wrote, \u201cThe real job \u2064of every moral \u2062teacher is to\u200b keep on bringing us back, time after time, to the old simple principles which we \u200dare all so anxious not to see.\u201d As in morality, so too in investing. Morgan Housel\u2019s new book, <em>Same as Ever<\/em>, promises \u201ca guide to what never \u2062changes.\u201d Drawing on material from his popular 2020 book, <em>The Psychology\u2064 of Money<\/em>, as well as his <a href=\"https:\/\/collabfund.com\/blog\/authors\/morgan\/\">blog<\/a>, Housel \u200bseeks\u200b less to break new ground than to tell familiar lessons well. And Housel is a gifted\u2064 storyteller.<\/p>\n<p>In the chapter \u201cWild Minds,\u201d for instance, he describes how after Eliud Kipchoge\u2062 won the 2021 Olympic marathon, a logistical snafu left \u200chim and the other two medalists alone in a bare room for a few hours. The other two runners\u200c quickly\u2063 pulled out their phones and began to scroll. Kipchoge just sat and stared at \u2063the wall for hours, silent and content. The bronze medalist later joked, \u201cHe is not human.\u201d<\/p>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-819650272\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-5782b97e36a077ff99aa2d4985615042 fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-5782b97e36a077ff99aa2d4985615042\"><\/div>\n<p>Housel uses\u200b this story \u2062to illustrate how extraordinary\u200d successes \u2014 whether Kipchoge\u200d or Steve Jobs\u200b or Elon Musk \u2014 often have corresponding\u200b oddities or\u2062 even liabilities that we tend to ignore and might not\u200d want\u2064 for ourselves. The difference between you and an Olympic athlete is more than just your VO<sub>2<\/sub> max, and the difference between you and Musk is more than your intelligence.<\/p>\n<p>Kipchoge is also unnaturally serene, and\u2063 Musk is addicted to risk. It\u2019s a package deal. Housel often concludes a point like this with, \u201cIt\u2019s so easy to\u2063 overlook.\u201d He seems to \u200brealize that his contribution is in articulating \u2062common sense and clarifying an intuition rather than offering newfangled solutions. He obliquely acknowledges that style can trump substance in a chapter titled \u200c\u201cBest Story Wins.\u201d<\/p>\n<p>He\u200c relates Yuval Noah Harari\u2019s <a href=\"https:\/\/www.newyorker.com\/magazine\/2020\/02\/17\/yuval-noah-harari-gives-the-really-big-picture\" target=\"_blank\" rel=\"noreferrer noopener\">assessment<\/a> \u200b of his \u200csmash hit <em>Sapiens<\/em>:\u2064 \u201cI thought, \u2018This is so banal!\u2019 \u200cThere is absolutely nothing there that is new. \u2026 It was really reading the kind of common knowledge and just presenting it in a new way.\u201d Harari\u2019s synthesis and writing \u2014 the story he \u2064told \u2014 were the\u200d difference between common knowledge and a book \u2063that sold more than 25 million copies. Similarly, <em>The \u200bPsychology of\u200b Money<\/em> sold 4\u2062 million copies because of Housel\u2019s knack for finding anecdotes and crafting phrases. His investing philosophy is nothing new: Save aggressively, buy and \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-housels-new-book-might-be-the-same-as-ever-but-common-sense-never-changes\/\" title=\"Morgan Housel's book remains timeless as common sense endures.\">hold \u2064low-cost index funds<\/a>, then keep desires in check.<\/p>\n<h2 class=\"wp-block-heading\">Historically Ignorant<\/h2>\n<p>Ostensibly, \u200ca guide\u200b to things that never change\u2063 would have plenty of historical thinkers to draw on since human nature and money are perennial\u2063 topics of interest. Yet Housel rarely uses anything written before 1950 and shows almost no awareness of wisdom literature.\u200c His references often feel more like what you\u200d find scrolling X or YouTube rather than gems found digging in the stacks. Jerry Seinfeld and Jim Carrey rather than \u2064Job and Jesus.<\/p>\n<div class=\"fdrlst__b89e9-53f796c6c256776fe7f9162da6094f31 fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-53f796c6c256776fe7f9162da6094f31\"><\/div>\n<p>The \u2062book reads like a compilation, rather than an expansion, of his \u200dblog: informal, sometimes shallow, always readable. Short, independent chapters end\u200d on cliffhangers like, \u201cNow let me share why it\u2019s so hard to gauge how good our future might be,\u201d and, \u201cNext, one of the wildest stories I know.\u201d These transitions keep the pages turning.<\/p>\n<p>Housel writes for the lay reader, even though he blogs for venture capital firm Collaborative Fund. This proximity to massive wealth \u200cgives him credibility \u200bwhen \u200che argues that money\u2019s greatest value is\u2063 granting autonomy. He warns that trying to buy happiness \u2062makes money function like drugs or alcohol: \u201cincredible if done right, dangerous if used to mask a weakness, and\u2062 disastrous when\u2063 no amount is enough.\u201d<\/p>\n<p>Just like\u200b drugs, money\u2019s effect is shaped by our expectations and prior experience. Housel tells the story of Gary Kremen, the founder of Match.com, who was interviewed in 2007 about his work life. At the time, Kremen was living in Silicon\u2064 Valley,\u200c worth $10 million, and regularly working 60- to 80-hour weeks. When asked why he\u2063 was working so much, he replied: \u2063\u201cYou\u2019re nobody here at $10 million.\u201d It\u2019s one thing\u200c to hear about \u201ckeeping up with the Joneses.\u201d It\u2019s another to imagine $10 \u2063million feeling \u2063like nothing.<\/p>\n<h2 class=\"wp-block-heading\">Health and Wealth<\/h2>\n<p>In his first book, Housel wrote, \u201cThere are two topics that will affect your life whether you are interested in them or not: money and health.\u201d Consequently, fitness and finance are full\u2062 of hucksters and suckers. <a href=\"https:\/\/www.abc.net.au\/news\/2022-12-08\/tiktok-fitness-influencer-liver-king-exposed-using-steroids\/101742792\" target=\"_blank\" rel=\"noreferrer noopener\">Liver King<\/a> and Sam\u2063 Bankman-Fried and\u200d a million like them promise that all those stodgy principles about health and wealth don\u2019t apply\u2064 to you. They dangle a perfect body\u200d or flashy car and promise that this\u2064 is easily attainable (if you trust them) and\u2063 lasting \u200bhappiness is within your grasp.<\/p>\n<div class=\"fdrlst__b89e9-9ee78ec5385674ff0b0989d3f368d911 fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-9ee78ec5385674ff0b0989d3f368d911\"><\/div>\n<p>But of course, it\u2019s never that simple. Instead,\u2064 Housel\u2019s prescription is to hold on to the tensions. Save like a pessimist but invest\u2063 like an\u200b optimist. Embrace the\u2062 stress that motivates you without letting it cripple you. A little \u201cinefficiency,\u201d time not at your desk, is often the most efficient way for knowledge workers to generate insight. He\u200c counters the\u200b popular financial ideal of \u2064retiring at\u2064 30 to live on the beach, instead\u2063 quoting Richard Nixon <a href=\"https:\/\/www.youtube.com\/watch?v=Pc3IfB23W4c\" target=\"_blank\" rel=\"noreferrer noopener\">on the meaning of life<\/a>:<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>The unhappiest\u200d people of the world are those\u2062 in the international watering places like the South Coast of France, and Newport, and\u2064 Palm Springs,\u2063 and Palm Beach. Going to \u2062parties\u2062 every night. Playing golf every afternoon. Drinking too much. Talking \u200ctoo much. Thinking too little. Retired. No \u2064purpose. \u2026 What <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/review-jordan-b-petersons-beyond-order-12-more-rules-for-life\/\" title=\"Review: Jordan B. Peterson\u2019s \u2018Beyond Order: 12 More Rules for Life\u2019\">makes life<\/a> mean something is purpose. A goal. The battle, the struggle \u2014 even if you don\u2019t win it.<\/p>\n<\/blockquote>\n<p>While finance can \u2063be esoteric, Housel brings out the broad applications of investing principles, often\u2064 concluding, \u201cA lot\u2063 of things work \u2062like that.\u201d A good reputation, marriage, and investment all \u2064compound \u200bslowly over time, but they can be ruined in a \u2064matter of minutes. If you have enough stability \u200cto handle short-run problems in\u200c your portfolio or career,\u2063 you can stick around for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-are-paying-the-bill-for-our-governments-unwavering-support-of-ukraine\/\" title=\"Americans Are Paying The Bill For Our Government\u2019s \u2018Unwavering Support\u2019 Of Ukraine\">long-term gains<\/a>. \u2062You must keep running to stay in place in your \u200drelationships, your business, your career because no competitive advantage or one-time effort makes success permanent.<\/p>\n<p>Good moral\u2062 teachers remind us of what we know but ignore, and C.S. Lewis also warned that \u200bnew moralities are the domain of \u201cquacks and cranks.\u201d Today, we might add influencers to that list. Some might call <em>Same \u2063as Ever<\/em> redundant, self-evident, or boring, but there is a\u2062 comfort in truths well-spoken\u200c rather than schemes well-disguised. Housel is the rare teacher who \u200cis bold enough to teach old ideas but skilled enough to make them fresh.<\/p>\n<hr class=\"wp-block-separator\">\n<\/div>\n<p> <\/p>\n<h2> What are some common behavioral\u200c biases that can negatively impact investment decisions?<\/h2>\n<p><span>  \u200c T. He warns against trying to time\u200d the market or chase the\u2063 latest investment fad. Instead,\u2064 he advises investors to focus on\u200d the\u2062 long-term, \u2063to stay disciplined in their approach, and to be aware of their own behavioral biases.<\/p>\n<p>Housel emphasizes\u2064 the importance of understanding our own psychology when it comes to investing. He \u200dexplains how our emotions\u2064 and biases can often lead us\u200c astray and cause us to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kamala-harris-blusters-protect-the-vaccinated-gets-mocked-what-the-hell-is-it-even-for\/\" title=\"Kamala Harris Blusters \u2018Protect The Vaccinated,\u2019 Gets Mocked: \u2018What The Hell Is It Even For?\u2019\">make irrational decisions<\/a>. By\u200b recognizing these biases and learning to manage them, investors can improve their chances of success.<\/p>\n<p>One of the \u200bkey principles \u200bHousel promotes is the value of simplicity. He argues that complicated \u200cinvestment strategies often do\u200b more \u2064harm than\u2064 good<\/p>\n","protected":false},"excerpt":{"rendered":"<p>C.S. Lewis believed moral teachers must consistently remind us of basic principles we often overlook. This concept applies to investing as well. Morgan Housel&#8217;s book, Same as Ever, serves as a guide to timeless principles that remain unchanged.<\/p>\n","protected":false},"author":1418,"featured_media":2098153,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[],"class_list":["post-2098152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2098152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1418"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2098152"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2098152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2098153"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2098152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2098152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2098152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}