1% Action Will Change Your Life | The Psychology of Money

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Trey Lockerbie sits down with Morgan Housel, the author of the international best-selling book, The Psychology of Money, who is a partner at Venture Capital and PE firm Collaborative Fund. He’s a former columnist at The Motley Fool and Wall Street Journal.
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📖 BOOK MENTIONED:
- The Psychology of Money by Morgan Housel - amzn.to/3HhEyzY
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[@TheInvestorsPodcastNetwork]

Hey guys, what are your key takeaways from this episode? Quick side note: We would like to remind the TIP Community to beware of cyber scams & phishing attacks. We have received reports of fake accounts claiming to be affiliated with The Investor's Podcast Network or posing as one of our hosts. Please help us report those suspicious accounts. We will never reach out to you for any business or investment opportunity. Stay vigilant!

[@timrichardson518]

Time value of money

[@timrichardson518]

Cash flows are #1

[@dr.braddlee3194]

That if Morgan was Black, he probably wouln't have quite the same amount of nostalga for the 50's and 60's.

[@ocamp2008]

😊😊😊😊r😊😅😅😮😮😮😮😮😊😮😮

[@tomtomtombygttc6787]

As

[@vigeendharan6109]

My take aways 1. Plan to have a long time frame 2. Research on investing comes at a cost , for buffet it’s family and social life 3. Leverage can lead to downfall . Don’t aim to get rich quickly . 4. 99 percent of your returns will be determined by what you do during 1 percent of the time. 5. Risk is what is left after what you think you took care of everything.

[@JiaruiChen_]

100 percent of the women in my life is from the 99 percentile

[@scarfo441]

Risk I what's left after AaND thats out of our control

[@radiologicphysicist1083]

@@scarfo441 Which is the vast majority of actions and outcomes. One’s circle of influence is quite small compared to the vast sea of possibility in life

[@markiscarter3053]

Thank you

[@ashatou]

This guy is genius and I wish I have read his book 15 years ago. No one taught me anything in his book before. His ideas and thoughts seem too basic and common, but hey, common sense is not common. I would recommend his book for anyone facing hard times managing his or her money.

[@ShabaazKhan99]

This book came out in 2020

[@AlessandroOrlandi83]

Yeah it’s a really good book

[@matmaism]

​@@ShabaazKhan99 he wanted to read it before it was even available to others, get a head start if you will.

[@ikel018]

He's super smart and made some awesome points...took a whole year but thanks KZbin for recommending this.👍

[@fahmimansor]

I disagree. I would recommend the book to anyone.

[@Raymondjohn2]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.

[@kenanporubsky2122]

I think I could really use more guidance to navigate the market, it is completely overwhelming, I've liquidated most of my assets and I could really use some advice on what best to invest into.

[@lipglosskitten2610]

Your best option if you are unfamiliar with the markets is to seek advice or help from a consultant or investing coach. I know it sounds simple or generic, but talking to a consultant helped me stay afloat in the market and increase my portfolio to roughly 65% since January. For me, it's the best method to enter the market right now.

[@hermanramos7092]

@@lipglosskitten2610 please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@lipglosskitten2610]

@@hermanramos7092 My consultant is‘’Christine Jane Mclean’’ I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven't regretted doing so.

[@hermanramos7092]

@@lipglosskitten2610 Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.

[@kingadams7786]

I'm also a proud beneficiary! I've built my portfolio massively and still building. I started with a KZbin referral

[@bellmurphy8489]

thanks...

[@jasmingraham3740]

Those who are successful don't become that way suddenly. Everything most people perceive at first glance- wealth, a successful profession, and a sense of purpose-is the consequence of persistent slog and hustle if you think about it.

[@haydencraig7149]

Most people venture into crypto to be a millionaire meanwhile just want to be debt free

[@stellaparker2372]

Just do the right thing by trading with an expert, trust me you will be successful and debt free......

[@maxiecharles2842]

​@wilson Adams I'm enjoying working under a platform that brings good return in my life and I've been making my weekly returns without stress all in cryptocurrency

[@maxiecharles2842]

​@wilson Adams Learn and trade under a guide do same and I hardly make losses in the market

[@helenjoseph6147]

Starting early is the best way to getting ahead of build wealth, investing remains the priority....

[@mars56100]

Behavior starts at home & should be taught by the parents. My Mother had us on a schedule that taught us responsibility, time management & cleaning techniques. Diffidently had everything to do with my success! Laying a strong foundation .

[@omarsayed9155]

One of the best money interviews I've heard for a long time.

[@sebfox2194]

Check out the recent interviews with William Green too.

[@Harperrr.99]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $120,000 bond/stock portfolio.

[@Aziz__0]

Investing in stocks is a good idea, a good trading system would puts you through many days of success.

[@kurttSchuster]

@@Aziz__0 True, the US-Stock Market had been on it's longest bull-run in history, so the mass hysteria and panic is relatable, considering were not accustomed to such troubled markets, but as you mentioned there are avenues lurking around if you know where to look, l've netted over $650k in the past 8 months and it wasn't some rocket-science strat. I applied , I just knew I needed a firm and reliable technique to navigate better in these times, so I hired a portfoilo advisor.

[@kurttSchuster]

@Margaret my financial advisor is 'NICOLE DESIREE SIMON'. I found her on a CNBC interview where she was featured Afterwards I reached out to her. she has since then provided me with entry and exit points in securities I focus on.

[@liliavicol9433]

I hope you haven't!

[@motive7475]

Stay in the market. Keep buying and buying and buying. If you had and hopefully you did you would be up a lot in 11 months. I have been through 2000 and 2008 didn’t panic kept on investing

[@K2VB]

The relationship between behaviour and intelligence is just an incredible insight. As someone who has grown up in finance I find this to be such an under appreciated - and more importantly underestimated point. This entire video is such a great educational piece…. I think people have no idea.

[@ExtraordinaryLiving]

Wow, this talk is excellent! And it took me until near the end to realize that it is almost one year old (yet all the points in the talk is still relevant.) I would really like to see an updated discussion of the current time (March of 2023) with Morgan Housel again.

[@thegamerboneless2864]

This dude is prime writer, he feels the need he has to explain everything he talks about, 3-4 different ways, I love it 😂😂😂😂

[@rayappagari]

Perspective is everything.

[@michaelgraham19871]

The 1% Millionaires stay rich by staying off high interest debts and investing passively. Personally i made my first million from having investments that spreads across stocks, etfs, coins and bonds, looking into Nfts .What i can say to early investors is diversification and solid management..at this point I'm actually grateful for my advisor Olivia Rene Reyes. it's been great.

[@walter.dlawson2580]

Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth.

[@donaldlocher2537]

out of curiosity I did read about Olivia Rene Reyes on the web, she has a great resume

[@meredithelbert6608]

Glad to see someone being honest about money, lots of people talk about it but no one really gives good advice on the matter, this is really refreshing

[@gagnecaron658]

i'm happy there are lots of people doing so well...Love this channel for the transparency

[@brkctrl]

All these bots infesting all videos on KZbin about investing. Don’t just go for random people name dropped by ransoms on KZbin for financial advice! Go find legitimate financial advisors at your bank or credit union.

[@k.6160]

That was a great interview! I listened to the full audio book before this. I learned so much from both! About WW2, M1 changes, fascinating!!! Thank you so much 😊

[@TheInvestorsPodcastNetwork]

Glad you liked it! Thank you so much for your support!🙌

[@davelewis3740]

Some amazing insights. The one where investors unfortunately take cues from investors who are playing a different game really hits home. It’s messed me up many times

[@readandinvest]

Thank you!😀

[@ahagopian100]

Yes, being frugal and starting modest home based business blossomed into early retirement with ample income.

[@koketsomokone2975]

I needed to hear this perspective! A great reminder on the often overlooked fundamentals 👌🏾

[@alandean9291]

Mr. Housel is obviously envious of Warren Buffett He says “ he doesn’t want that life”? Mr. Buffett is one of the most respected men in the world and has had a fantastic life. A life Mr. Housel only dreams about. I’ve never heard anyone criticize Mr. Buffett. He’s smarter, his books sell more than yours and he’s a classy man. Don’t knock one of, if not best investors the world has seen. Good luck sir.

[@frederickfrost6561]

Great interview with timeless advice

[@atlantiscolors4491]

I always looking for the simple thing or intense under the hood. One day I thought about him all day. A few days later, it struck me hard that he just want to keep the value of money he had. There is no secret formula he is holding back. He has been just finding companies which can survive for at least a century. That is it and interest in addition. Having said that, this video is the most precious one that every investers have to watch.

[@briannicholas5490]

I don't believe in luck I believe in trust and understanding. I've been trading forex for some months now and I've made good amount of money of over $78,100 with her simple strategies of trading. Meeting with stacy has been one of my best experience these past few months and am expecting more withdraws from her

[@mariaruthmathew4452]

I have incurred so much losses trading on my own..I trade well on demo. But I think the real market is manipulated. Can anyone help me out or at least tell me what I'm doing wrong

[@mumeenyakub2246]

trading in the financial market is very volatile and risky to trade that's the reason most investors trade with a professionals

[@shirleymartha9848]

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

[@peggywendy2534]

Then, how can someone get a professional manager that is trustworthy and legit they are hard to find this days

[@felixeikeartur7911]

I think | heard that name before, I stumbled upon one of her clients testimonies here some

[@DonPavardenis]

Started listening couldn't stop. Need to buy a book

[@kgomotsomaila6083]

Very informative. What I liked about him is that he's very honest and not just telling us good things just to buy his book.

[@TheInvestorsPodcastNetwork]

Thank you for sharing your thoughts!🙌

[@RoyReyes]

thank you. this is very helpful.

[@ronaldh8298]

Bought the book. I read it every two months. Very good book.

[@TheGoalGuide]

Boom! Another great episode, Bedros. I’m always impressed at how you and Ray show respect to everyone. I don’t think I’ve ever had a conversation with Ray where he didn’t call me “sir”. It’s almost uncomfortable. You exemplify what you preach and I appreciate that the most.

[@MannehN]

This was such a great discussion. And I'm a HUGE fan of long term index investing where I too buy the entire market. My goal is to never sell unless maybe, maybe if it's life changing. I want to make more money not to be able to spend more or have more "fun" but to invest more. And it doesn't matter if the market is up or down. And since there's no such thing as saving/investing too much money, I just keep stuffing that thing.

[@shoes123uk8]

Great episode, really enjoyed it.

[@sunkiran100]

What a great talk. Especially the details of M1 and M2. One thought on Buffett's methods of investing might be still relevant. Monish Pabrai or Nick Sleep are most current adoptors of Buffett style of investing.

[@christmas10023]

Nice interview in Barron's. And what you're saying is please reconsider B4 buying an old investing book online.

[@VideoAssociates]

Excellent interview. Impatience is the biggest reason people will detour from their investment pathway

[@akimexgreen5841]

I loved this interview.

[@CoachAdeja]

Love this!!!

[@ferarranz]

just fantastic! very interesting!

[@stevendanibasen7578]

Thank's Man..."Patience" say's it all

[@thegamerboneless2864]

I wanna add, I practice and back test and run my strategy over and over, go over my data, but I enjoy doing this. I do not move my capital lightly, I take all emotion out of my strategy or I would be all over the place, if I worked with my emotions I would be homeless, I do not have it in me to see loses or not pull profit, I’m not capable of it 😂, so I let my risk management handle that. I also keep my long term security away from my passion and love for trading, I do the buffet strategy for my security, I make sure it’s consistent.

[@beerman204]

People want to be successful like Buffett but very very few are willing to be that dedicated and that patient. And as Housel has stated, if your expectations are over the top, your results and satisfaction will be under the table (my words).....

[@clemfarley7257]

Some will get their wish of making $ and seeing it grow. This guy gets it. No one wants to be Buffett. It came out a great cost. It seems as if young or inexperienced or one-dimensional or poorer people flock to these videos. It’s too bad that at 60 you realize that you misspent too much your love and focus. But to learn some things, to become financially literate or develop some wealth… great.

[@U2haveaniceday20]

New to the channel and really enjoyed. Thanks so much for sharing ✌️

[@TheInvestorsPodcastNetwork]

Awesome, thank you so much!🙌

[@angelsancheese]

What a great video. Thank you Morgan Housel and thank you for the good questions!

[@jonathan.writes]

Love it how the interview always ends right when theres hints that Bitcoin Shills are wrong. That whole M1 and M2 money supply bit was amazing and well versed. Morgan is truly gifted.

[@delinquense]

Morgan provides the absolute best investment advice bar none, on the internet or anywhere .... and I've watched literally hundreds of channels and investing decades longer than him!

[@judysamaniego1606]

I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?

[@garyjesus1387]

Wow I'm just shocked some one mentioned expert Mrs Claudia Walter's name i thought I'm the only one trading with her

[@miaejaita7119]

Mrs Claudia Walter's service is really good, I invested $22,000 and made a profit of $81,000 after a week. I still wonder how she gets her analysis

[@Kateschrad]

Wow!! Impressive you trade with Mrs Claudia Walter's too! I thought people don't know her that well.... She's really awesome!

[@brianboogie9700]

How does this Bitcoin stuff work, I am interested and willing to invest heavily as I have heard too many testimonies

[@nelsonkatherine2123]

Who's this professional trader and how can I get In Touch with her? Can I start with 2000$?

[@troyduong4810]

Love this video

[@Thrivinglife3835]

I just bought the book and I saw this in my feed. 😊 I’ve enjoyed listening. I’ve learned so much!

[@TheInvestorsPodcastNetwork]

Glad it was helpful! Feel free to share the video with those you think would benefit.😊 Thank you for your support!🙌🏼

[@kathyjohnson8199]

Heard the book on audible, but purchased the book Sat. So many gems

[@TheInvestorsPodcastNetwork]

@@kathyjohnson8199 Thank you for sharing!

[@cryptogold8753]

Fantastic interview 🙏

[@choski76]

fantastic guest.

[@beskidwood]

13.40 "being right is the enemy of staying right" Jason.... (I could not hear the surname, sounds like Right). This is just one of many evergreens from this interview. Thank you for such quality content. Marek, Poland.

[@nohaybandaninguna]

Best book I've ever read about personal finance - should be required reading for any young person entering adult age.

[@sillycoin]

What an eye-opening point of views!!!

[@asher3795]

Great book.

[@pesu000]

Usefull info, thank you so much, Only 1 point, I feeling the host sound sleepy 😂

[@7777maesteg]

I mostly invest in REITs for my pension as they pay good dividends so that in retirement I can spend the dividends instead of reducing my fund by 3% a year idea and run out of money if I live a long life (which I plan to do!)

[@donmek]

This has simply changed my life

[@hypnotechno]

Wow such a tour de force of wisdom !!!

[@dmm6671]

Wow, great insights

[@R4GS63AMG]

Just started reading this book, so far loving it. Quite informative about personal finance and seeking the importance of luck/risk

[@connectionsconnections819]

Which book?

[@NFTeve]

I liked the patience part . Really enjoy your life and relax and wait!! (With ur Bitcoin)

[@misasylvester3744]

These strategies are quite rigorous for the huklumu\jregular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

[@bashirshehu8135]

Truly to build wealth during a recession, you should focus on where you can save money and invest in foreign currency

[@elisatseng6286]

A very educational and informative interview. Thank you!

[@user-bp9wk7ui2s]

I started investing March 2020! :) I think the best moment was really "seconds" before the pandemic hits, the global markets were suffering from the oil prices being in a all time low in a fabricated manner!

[@richardmacauley1107]

Buffet is doing what makes him happy

[@TheLegendaryMac]

So glad I took the time to watch this video. It was really informative and had very interesting viewpoints. Made me reflect a lot on my trading style.

[@TheInvestorsPodcastNetwork]

Glad it was helpful!

[@chinchiayeh]

My favorite.

[@frankmathews1358]

This is great. Thank you. So much.

[@tdl2920]

While there is plenty to glean from the Buffet story, it's crucial to recognize he came about during the expansion and zenith of empire USA. The situation today is quite different as the empire is well into its sunset phase. Be adaptive.

[@josiahleonard2319]

What a coincidence that I just finished this book! I loved this discussion - thank you!

[@CurtisMoe]

Lol. I watched the interview then bought the book.

[@duncanray387]

I watched this and now I'm thinking, do I need to read the book 🤔

[@sinatra187]

@@duncanray387 you won't be disappointed. Read or listen to the book my friend

[@GoldenSkeeter]

Patience pays

[@KabodS7]

Morgan , the way you pronounce Zimbabwe is way more than my fellow people👌🏾

[@Biztalkcontrolcenter]

This guy is a genius

[@johnpatterson6448]

Very sane comments on Warren Buffet

[@sunair2002]

Great talk between Morgan and Trey.

[@Historyteacheraz]

Everything Morgan does is great! He helps you learn how to invest and thrive. A Teenager’s Guide on how to Invest Like Warren Buffett teaches the key investment principles to new investors.

[@TiagoRamosVideos]

Very interesting 👌 I learned a lot, thanks 🙏

[@TheInvestorsPodcastNetwork]

Glad it was helpful!

[@dbanka471]

I have read his book at least 10 times and it superb and his genius stands out more- I am a huge fan

[@TheInvestorsPodcastNetwork]

Glad you enjoyed the book. Thanks for tuning in!

[@janetstauffer9138]

Love this!

[@cybercab]

That’s really interesting about the classification of savings. I’d love to see the actual numbers.

[@Kaodusanya]

Wow this guy called it. I didn't realize this was an interview from a year ago till I heard him talking about having inflation this summer and I was like what??

[@mendeleyborisov92]

Getting into the stock market has panned out to be one of the smartest moves I've made financially after I got introduced to it by a colleague. I’ve made good returns with expert guidance and watching great videos like these.

[@OlineFarms]

How did you do it? I’m trying to put some money in to see if I can earn but I always hit a dead end.

[@mendeleyborisov92]

@@OlineFarms Investing without sufficient knowledge deems your chances of being profitable at an inherently high rate because it is risky and requires considerable skill as individuals who attempt to trade themselves end up losing money. Profiting from the stock market is possible, personally, I don't underestimate the role that professional guidance plays as Herman W Jonas, an astute fund manager has given me an edge over the rest of the market which has propelled me to gain more. Here,

[@Andale856]

@@mendeleyborisov92 Quite true. From my experience it’s about understanding the market and volatility, but that’s difficult to do without help and guidance.

[@Sithembile499]

I invest because it affords me and my family the opportunity to live an incredibly fulfilling life, and I just don’t mean financially. Time wise also. I started out with Herman about a month ago and it’s surprising the rate at which I’ve been able to grow my roi. Even got my first payout last week. Real stand up guy.

[@Allandexx]

Hi are slots available on his platform for new investors as I’m willing to part with a percentage if he’ll be willing to help me.

[@srini4uall]

Great discussion. I liked the way he described what a investor mind set should be and understanding what is enough.

[@SkyLoreking]

What use is having that kind of money when you don't spend it at least sparingly.thank you for the video

[@kadiprincess9975]

Thank you

[@TheInvestorsPodcastNetwork]

You're welcome!🙌

[@TheEti1980]

Great Interview! Just ordered the book!!

[@TheInvestorsPodcastNetwork]

Awesome! Thank you!

[@matthewnoble7768]

Just wow! So much intelligence and passion here. Brilliant podcast. I am so grateful. I'm ordering that book right now as well.

[@TheInvestorsPodcastNetwork]

Wow, thank you!

[@stavaloni8156]

Thank you for the vid

[@TheInvestorsPodcastNetwork]

Our pleasure! Thank you for your support!

[@nicholasmartinez6043]

Love this interview. Morgan approaches investing from the standpoint that really matters, our behavior. He also explains it in such a way all of us can actually relate to. My take away is to ask myself “why am I buying x,y,z investment?” wherever I do buy an investment. Am I succumbing to the wrong cues or internal biases? What are my goals and does this actually make sense. I think our natural behavior as human is to take our cues from other humans because that’s how we have survived as a species. However, if we do that in investing, we are playing a dangerous game because everyone’s goals are different and everyone’s psychology is different.

[@TheInvestorsPodcastNetwork]

Great takeaway! Thank you for sharing 🙌

[@sjaw100]

The compounding effects go super big near the end term….the longer the greater the compounding!

[@thegamerboneless2864]

I met Buffet twice, even had a water with him. One thing he told me is the best asset we have is time. He actually told my young nephew. I think buffet loves what he does, what he does is retiring to Florida, or those memories others have and consider their fun, or entertainment he does what he does 😂. Also Bens philosophy that buffet always says is the best way to invest moats and all that value investing, is great for buffets profits, he wants retail investors all investors to buy into his BERK, and hold, it’s his bottom line so of course he will continue to tell investors to invest and hold with the thought that since he is saying this they will buy and hold his shares, 😂 it’s a great strategy. The little old man who seems so friendly and he uses that I would too 😂

[@viktorcojocaru5411]

Unknown unknowns are always going to be part of the biggest game of all

[@wonggentle]

Very nice, thank you!

[@TheInvestorsPodcastNetwork]

Glad you like it!

[@Siaziyu]

Interesting staff

[@filmawayvlad]

Impressive to say the least!

[@williscox6025]

Cool interview

[@jaliali84]

Amazing discussion looking forward to reading the book.

[@rayng4336]

There will be no hyperinflation in the country that holds the reserve currency. PERIOD!!! And you can take that the the bank!

[@eddiegill]

Buffet said he doesn’t understand Apple but just sees it as a consumer product company selling a device everyone sees as essential if not addictive

[@larrygerry985]

Investing is a psychological game which is a tough task. Since 2020 we have seen massive swings.

[@dustinmorris1317]

Awesome video! But, will the index fund really outperform the index-like fund of legendary investor Warren Buffett, Berkshire Hathaway. Is the overvalued S&P lower risk than a cash cow like Berkshire? I’m not so sure.

[@sublyme2157]

Two things that really stood out in The Intelligent Investor: 1) winning formulas stop working when everyone starts using them, and 2) every company eventually goes away