Morgan Housel

My new book The Art of Spending Money is out now. You can buy it here: morganhousel.com/aosm I hope you enjoy reading it as much as I enjoyed writing it.

I don't fully buy the idea that living in an age of uncertainty is what's driving the decline in fertility. The Baby Boom took place when your kids had to practice duck-and-cover drills at school to prepare for what was seen as the inevitable nuclear apocalypse.

I love this so much

"Self-control is empathy with your future self." - Seinfeld

I’m in love with this sentence: “The best math you can learn is how to calculate the future cost of current decisions.”

@heresyfinancial @grok Great Depression nostalgia …

If we adjust every expense indexed to median household income, here is what the costs would be (according to @grok) : Adjusted 2024 Equivalent Cost of Living • New House - $188,646 • Median HH Income - $83,730 per year • New Car - $41,599 • Average Rent - $1,306 per month • Harvard Tuition - $20,316 per year • Movie Ticket - $12.09 each • Gasoline - $4.84 per gallon • US Postage Stamp - $1.45 each

I say this line by Cormac McCarthy in my head at least twice a week

@cshapiro @Inc @collabfund 🙌

Today we’re announcing Collab Holdings, a different approach to private equity for extraordinary consumer brands. As the world gets faster, more synthetic, more algorithmically optimized, people reach for things that feel slow, crafted, and real. The companies that serve this instinct represent one of the most interesting opportunities in consumer investing.

@KFILE I remember when Jim Cramer told Jon Stewart, "Look, you have to understand that we have 17 hours of live TV to fill every day." And Stewart responded, "Maybe you could cut down on that?"

Oh my God

@fortworthchris collabfund.com/blog/minimum-l…

When problems become rare, we count more things as problems.

@SixSigmaCapital Lloyd Blankfein's recent book was very good.

I’ve just realised I haven’t read a book in more than 6 months which is Highly unusual for me as I’ve read at least 15 each year for most my adult life So with that being said any you’d recommend, non fiction but not necessarily investing books ?

Long-Term Money Some thoughts on generational progress and spoiled kids. collabfund.com/blog/long-term…

“The secret to life is so simple. You don’t have a lot of envy, you don’t have a lot of resentment, you stay cheerful despite your troubles. All these are simple rules.” “And I was 7 years old when I figured this out.” - Charlie Munger. 2019

.@collabfund led @WHOOP's recent $575m funding round. @cshapiro and I sat down with founder/CEO @willahmed to talk about early visions, scaling a company, and life as a CEO: Apple Podcast: podcasts.apple.com/us/podcast/wil… Spotify: open.spotify.com/episode/0Foo5i…

@johnarnold same for pointing out that average MPG has improved substantially over the decades. during the 1970s oil shock the average car got 12 mpg vs. 31 today.

Saying $4 gas isn’t especially high on an inflation-adjusted basis is incredibly tone-deaf, but is also true.

@RaminNasibov The CEO of Two Buck Chuck wine was once asked how he could profitably sell wine for less than the cost of bottled water. "They're overcharging for the water. Don't you get it?" he replied.

Where is the logic here?

You see the placebo effect in young kids. Give them Advil when they're sick and THIRTY SECONDS later they say, "It's working, I feel better."

@JrdnMcFarland @jimcramer "The Vietnam war should not be a template we strive to follow" doesn't seem political.

@morganhousel @jimcramer Woah this is the most political I've ever seen you be. Lol. And it's still not even aggressive.

If the infrastructure is not taken out and the money is not taken away why should Iran come to the peace table. They are taunting us with $200 oil. They do not have the cards; our military must be unleashed. Time to do what we did to Hanoi...to get them to the table

@theRa1nMak3r @dougboneparth It has the highest inheritance tax in the country:

@dougboneparth There is no inheritance or gift tax in the state of WA. You can use that as well and utilize a “trust.” Moving is one way but here are other options as well.

How to avoid the Washington State millionaire tax: 1. Leave Washington

@judgeglock Everything is cyclical

Since I was younger, many of the public debates and concerns have not just changed, they're the polar opposite of what they were. I'm sure I missed some but... -Nobody follows politics v. Everybody is too obsessed with politics - Kids are too wild and are always partying v. Kids are too lonely and isolated. -The world will die of overpopulation v. The world will die of underpopulation - Cities are emptying and are too poor v. Cities are getting too crowded and expensive - Debate whether there is systematic anti-black, anti-female discrimination v. debate whether there is systematic anti-white, anti-male discrimination - Girls are ignored and are underperforming in school v. Boys are ignored and are underperforming in school - Republicans can't appeal to the working class v. Democrats can't appeal to the working class - Automation is destroying blue collar jobs v. Automation is destroying white collar jobs There are other ones, such as the obsession with big box retailers destroying small stores, and now people lamenting the old big box bookstore. Anyway, it's a good reminder that part of having public debate is people never being happy with whatever point on the spectrum we're landing at any point in time.

The demand for forecasts goes up when there’s an unforeseen shock, which is when forecasts become the least accurate.