Morgan Housel: "The Psychology of Money" | SALT Talks #62

Morgan Housel is a partner at The Collaborative Fund, a venture capital firm focused on providing seed and early-stage funding to technology companies, and a former columnist at The Motley Fool and The Wall Street Journal. He is the author of the new book, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. Investors should be writing out their ideas more frequently. When you’re writing, ideas that may have seemed logical and fantastical in your mind may actually turn out to be disjointed and nonsensical. Only through the logic-inducing process of writing can investors make more sound financial decisions. There is also no one-size-fits-all description of a successful investor. However, two principles govern their potential for success: patience and the ability to put up with uncertainty. In finance, soft skills like these often get swept under the rug because they’re immediately measurable in charts or returns. ————————————————————————— To learn more about this episode, including podcast transcripts and show notes, visit salt.org/talks Moderated by Anthony Scaramucci.