Today, we’re exploring the fascinating intersection of psychology, economics, and demographics through the lens of one of the most insightful thinkers of our time: Morgan Housel.

Housel writes about behavioural finance and has a unique ability to distil complex ideas about human behaviour and economics into simple, powerful insights.

Whether you're an investor, policymaker, or just someone interested in where our world is headed, this episode will give you fresh perspectives on the forces at play in our rapidly evolving demographic landscape.

Morgan Housel on History's Financial Lessons and True Wealth

In this episode we delve into the profound insights of Morgan Housel, exploring the intricate relationship between historical events, personal experiences, and financial behavior. Our conversation allows listeners to rethink their approach to wealth and long-term financial planning.

• The intersection of psychology, economics, and demographics in shaping financial behavior
• The way your perspective colors how you think the world works
•  The significant impact of historical events like the World Wars and the Great Depression on generational attitudes toward money
•  The irrational nature of financial decisions and the importance of considering broader perspectives
• The complexities of using historical data to predict future economic and market trends
• Recognizing the limitations of traditional predictive models in the face of unprecedented events
• The role of human nature and behavioral finance in economic forecasting and long-term planning
• The difficulty of long-term planning in the face of changing goals and circumstances
• Philosophies like Buddhism that emphasize happiness beyond material possessions
• The paradox of wealth as a means to impress others versus achieving personal satisfaction
• The true essence of wealth, including health, love, personal growth, and community contribution
•  The different paces of progress and setbacks

By examining these themes through Morgan Housel's lens, we encourage listeners to challenge conventional wisdom and adopt a multifaceted approach to financial decision-making.

Join us as we uncover how understanding history, human behaviour, and broader perspectives can lead to smarter financial choices and a more balanced view of wealth.

Some of our favourite quotes from the show:

“But if you dig deeper, you understand that nobody's crazy. It's just based on what their experiences have been.” - Michael Yardney

“We need to be aware that there are these biases in us and that we just intuitively throw them out there and again. Ideally, you're constantly doing a bit of self-work.” - Simon Kuestenmacher

“And to put the positive spin on it, take any kind of setback that comes. Take this as an opportunity to reboot, to reset and life's journey is full of resets.” - Simon Kuestenmacher

PLEASE LEAVE US A REVIEW

Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on your favourite podcast app.