Most of our attention goes to things that are huge, profitable, famous, or influential. When most of what we pay attention to is the result of a tail, it’s easy to underestimate how rare and powerful they are.
Morgan Housel
Rare Events, Power Tails, Human Attention, Uncommon, Focus, Influence
Morgan Housel’s Quotes On Topics
Future Planning | Opportunity | Time Horizons | Progress | Social Perception | Bias | Human Beliefs | Actions | Success Reality | Money Psychology | Saving Money | Narratives | Financial Efficiency | Context | Circumstance Changes | Materialism Trap | Social Goals | Stakes | Unknowns | Surprise Lessons | More
More Morgan Housel Quotes
“Having a gap between what you can technically endure versus what’s emotionally possible is an overlooked version of room for error.” Morgan Housel
Emotional Endurance, Error Margin, Financial Resilience, Endurance, Margin, Resilience
Morgan Housel Emotional Endurance, Error Margin, Financial Resilience, Endurance, Margin, Resilience“Happiness, as it’s said, is just results minus expectations.” Morgan Housel
Happiness Formula, Expectation Control, Emotional Balance, Formula, Expectation, Balance
Morgan Housel Happiness Formula, Expectation Control, Emotional Balance, Formula, Expectation, Balance“Doing something you love on a schedule you can’t control can feel the same as doing something you hate.” Morgan Housel
Passion Control, Work-Life Balance, Emotional Freedom, Passion, Balance, Freedom
Morgan Housel Passion Control, Work-Life Balance, Emotional Freedom, Passion, Balance, Freedom“Hindsight, the ability to explain the past, gives us the illusion that the world is understandable. It gives us the illusion that the world makes sense, even when it doesn’t make sense.” Morgan Housel
Hindsight Illusion, World Perception, Understanding Past, Illusion, Sense, Hindsight
Morgan Housel Hindsight Illusion, World Perception, Understanding Past, Illusion, Sense, Hindsight“You will desire less if you care less about what others think of you.” Morgan Housel
Desire Control, External Opinions, Self Liberation, Desire, Opinions, Liberation
Morgan Housel Desire Control, External Opinions, Self Liberation, Desire, Opinions, Liberation“As much as we recognize the role of luck in success, the role of risk means we should forgive ourselves and leave room for understanding when judging failures.” Morgan Housel
Luck Vs Risk, Judging Failures, Success Reality, Self-Forgiveness, Finance Lessons, Resilience
Morgan Housel Luck Vs Risk, Judging Failures, Success Reality, Self-Forgiveness, Finance Lessons, Resilience“There are a million ways to get wealthy and plenty of books on how to do so. But there’s only one way to stay wealthy: some combination of frugality and paranoia.” Morgan Housel
Wealth Preservation, Frugal Mindset, Financial Paranoia, Wealth, Frugality, Paranoia
Morgan Housel Wealth Preservation, Frugal Mindset, Financial Paranoia, Wealth, Frugality, Paranoia“Investing is not a game where the person with the 160 IQ beats the person with the 130 IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.” Morgan Housel
Investment Temperament, Urge Control, Success Intelligence, Temperament, Urges, Intelligence
Morgan Housel Investment Temperament, Urge Control, Success Intelligence, Temperament, Urges, Intelligence“The more you need specific elements of a plan to be true, the more fragile your financial life becomes.” Morgan Housel
Plan Fragility, Financial Flexibility, Risk Awareness, Fragility, Flexibility, Risk
Morgan Housel Plan Fragility, Financial Flexibility, Risk Awareness, Fragility, Flexibility, Risk“Before we go further we should define what optimism is. Real optimists don’t believe that everything will be great. That’s complacency. Optimism is a belief that the odds of a good outcome are in your favor over time, even when there will be setbacks along the way.” Morgan Housel
Optimism Defined, Belief Odds, Overcoming Setbacks, Optimism, Belief, Setbacks
Morgan Housel Optimism Defined, Belief Odds, Overcoming Setbacks, Optimism, Belief, Setbacks“We should avoid the extreme ends of financial planning. Assuming you’ll be happy with a very low income, or choosing to work endless hours in pursuit of a high one, increases the odds that you’ll one day find yourself at a point of regret.” Morgan Housel
Balanced Planning, Financial Extremes, Avoiding Regret, Planning, Financial, Regret
Morgan Housel Balanced Planning, Financial Extremes, Avoiding Regret, Planning, Financial, Regret“Acting on investment forecasts is dangerous. But I get why people try to predict what will happen next year. It’s human nature. It’s reasonable.” Morgan Housel
Forecast Risks, Predicting Trends, Human Nature, Forecast, Trends, Predict
Morgan Housel Forecast Risks, Predicting Trends, Human Nature, Forecast, Trends, Predict“When we pay special attention to a role model’s successes we overlook that their gains came from a small percent of their actions.” Morgan Housel
Role Models, Success Analysis, Selective Observation, Action Impact, Learning From Success, Hidden Efforts
Morgan Housel Role Models, Success Analysis, Selective Observation, Action Impact, Learning From Success, Hidden Efforts“The more you want something to be true, the more likely you are to believe a story that overestimates the odds of it being true.” Morgan Housel
Confirmation Bias, Belief Odds, Truth Desires, Story, Belief, True
Morgan Housel Confirmation Bias, Belief Odds, Truth Desires, Story, Belief, True“Medicine is a complex profession and the interactions between physicians and patients are also complex.” You know what profession is the same? Financial advice.” Morgan Housel
Complex Professions, Financial Advice, Human Interactions, Medical Insights, Similarities, Challenges
Morgan Housel Complex Professions, Financial Advice, Human Interactions, Medical Insights, Similarities, Challenges“After spending years around investors and business leaders I’ve come to realize that someone else’s failure is usually attributed to bad decisions, while your own failures are usually chalked up to the dark side of risk.” Morgan Housel
Failure Perception, Decision Making, Risk Management, Leadership Insights, Investment Lessons, Cognitive Bias
Morgan Housel Failure Perception, Decision Making, Risk Management, Leadership Insights, Investment Lessons, Cognitive Bias“The point is that the ceiling of social comparison is so high that virtually no one will ever hit it. Which means it’s a battle that can never be won.” Morgan Housel
Social Comparison, Unachievable Goals, Personal Satisfaction, Comparison, Goals, Satisfaction
Morgan Housel Social Comparison, Unachievable Goals, Personal Satisfaction, Comparison, Goals, Satisfaction“Like everything else worthwhile, successful investing demands a price. But its currency is not dollars and cents. It’s volatility, fear, doubt, uncertainty, and regret — all of which are easy to overlook until you’re dealing with them in real time.” Morgan Housel
Investment Challenges, Emotional Costs, Real-Time Struggles, Challenges, Costs, Struggles
Morgan Housel Investment Challenges, Emotional Costs, Real-Time Struggles, Challenges, Costs, Struggles