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Invest Like the Best, EP. 04 - Morgan Housel – Walking and Thinking
Differences in private vs. public investing.
Habits.
Sources of inspiration.
NOTES - THREAD
@morganhousel
@collabfund https://open.spotify.com/episode/3uAVIjiiGm4Wd7EbkebyjM?si=libPssFWSuyWw2DJaMt7HQ
Differences in private vs. public investing.
Habits.
Sources of inspiration.
NOTES - THREAD
@morganhousel
@collabfund https://open.spotify.com/episode/3uAVIjiiGm4Wd7EbkebyjM?si=libPssFWSuyWw2DJaMt7HQ
Public market vs. venture?
Many aspects that are the same - value, risk, psychology, etc.
Many differences - diligence process, level of quantitative analysis
Many aspects that are the same - value, risk, psychology, etc.
Many differences - diligence process, level of quantitative analysis
Venture viewed as less analytical and fuzzier ('do I believe in this person')
Sounds bullshit but so much bullshit in all areas of finance.
Danger in relying on the model, false precision problem huge in public.
Venture more explicit in recognising the huge range of outcomes.
Sounds bullshit but so much bullshit in all areas of finance.
Danger in relying on the model, false precision problem huge in public.
Venture more explicit in recognising the huge range of outcomes.
Reading process / how find books?
Reading great way to improve your own writing AND to find new ideas.
Finding new books - read recommendations from people who are smarter than him.
This writing is incredible
https://meltingasphalt.com/
@KevinSimler
Reading great way to improve your own writing AND to find new ideas.
Finding new books - read recommendations from people who are smarter than him.
This writing is incredible
https://meltingasphalt.com/
@KevinSimler
Process for writing?
Organic process, hard to force it, leads to poor outcomes.
As with most innovation = old pieces + new patterns.
Being curious / collecting stuff / relying on subconscious process to find patterns/ideas.
Organic process, hard to force it, leads to poor outcomes.
As with most innovation = old pieces + new patterns.
Being curious / collecting stuff / relying on subconscious process to find patterns/ideas.
Early career advice?
Seen people brilliant on paper, skill that is lacking is empathy.
Ability to interact with coworkers and clients with empathy, incredibly important.
Intersection of technical and personal skills the winning combo.
Seen people brilliant on paper, skill that is lacking is empathy.
Ability to interact with coworkers and clients with empathy, incredibly important.
Intersection of technical and personal skills the winning combo.
