In this episode, we dive into Morgan Housel's new book, Same as Ever, which chronicles a series of human behaviors that tend to repeat over time. We talk about how we're all constantly tempted to change and evolve, when sometimes the most powerful things in our lives are the ones that never change. The book offers great timeless insights into both life and business, such as how to sustain happiness for long periods of life, the most important variable in compounding, and the types of risk we will never predict. We also explore the power of the story, sharing how companies like Nvidia, LEGO, and Trader Joe's have used effective stories to sway customers and investors. Hope you enjoy this one!

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Same as Ever - Morgan Housel

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Recommendation of the Week: Greatest of All Talk Podcast (for NBA fans)

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The Web of Ideas: Same as Ever (my notes on the book)

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Show Notes:

5:40 - Risk is what you don't see coming

13:27 - Happiness is reality minus expectations

20:33 - The best story wins

28:22 - Days of prosperity make us forget adversity

34:16 - The 8th wonder in the world

39:58 - Survival is key

49:21 - Incentives: the most powerful force in the world

58:00 - The long run is just a collection of short runs you have to put up with

1:03:54 - There are no points awarded for difficulty