Updated: Feb 15
Morgan Housel is a partner at Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. Author of the book The Psychology of Money.
Interviewer is Vishal Khandelwal. He is the founder of Safal Niveshak, an investor education initiative. He is an independent analyst, financial writer, and value investing.
We learned the following from the interview:
Writing is important in clarifying our own thoughts - writer is doing as much learning as the reader. Legendary investor, Howard Marks, has been writing memos since 1990. Initially, no one was reading his memos but that didn't bother him as he was writing the memos for himself
Multi-disciplinary approach to investing is key to success - we should have diverse/broad based learning. [Our thoughts - partly because investing is a skill and not a exact science, with financial market driven by psychology (emotions)]
Focus on basics like having robust personal finance which is driven by good savings rate. Investing builds on these basics. It's important to keep things simple - lot of very smart people tend to have lower returns as they get impatient to get in the way of compounding [Expert Contributor (MrFINER) has written on this subject - you can find his post here]
He is optimistic about the future coming out of the pandemic as biggest innovations happens when the world is on fire (or human beings are pushed to a corner). [Our thoughts (example) - We can see the number of innovations or start-ups coming out of Israel where many of these are driven by continuous war like scenario and are matter of life & death for its citizens. You can read a good book: Start-up Nation on the subject]
Do watch this video and share your learnings with us in the comments section below.