Housel Morgan > Quotes

“I have pledged—to you, the rating agencies and myself—to always run Berkshire with more than ample cash ... When forced to choose, I will not trade even a night’s sleep for the chance of extra profits.”
― Housel Morgan, The Psychology of Money

“Two topics impact everyone, whether you are interested in them or not: health and money”
― Housel Morgan, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

“It comes from investor John Templeton’s view that “The four most dangerous words in investing are, ‘it’s different this time.”
― Housel Morgan, The Psychology of Money

“Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort. They are so similar that you can’t believe in one without equally respecting the other.”
― Housel Morgan, The Psychology of Money

“A genius is the man who can do the average thing when everyone else around him is losing his mind"
Napoleon”
― Housel Morgan, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

“Reputation is invaluable. Freedom and independence are invaluable. Family and friends are invaluable. Being loved by those who you want to love you is invaluable. Happiness is invaluable. And your best shot at keeping these things is knowing when it’s time to stop taking risks that might harm them. Knowing when you have enough.”
― Housel Morgan, The Psychology of Money

“Fuscone”
― Housel Morgan, The Psychology of Money

“hitchhiked”
― Housel Morgan, The Psychology of Money

“The challenge for us is that no amount of studying or open-mindedness can genuinely recreate the power of fear and uncertainty. I can read about what it was like to lose everything during the Great Depression. But I don’t have the emotional scars of those who actually experienced it. And the person who lived through it can’t fathom why someone like me could come across as complacent about things like owning stocks. We see the world through a different lens.”
― Housel Morgan, The Psychology of Money

“In finance, spending less than you make, saving the difference, and being patient is perhaps 90 percent of what you need to know to do well.”
― Housel Morgan, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

“It is hard to teach behavior even to smart people”
― Housel Morgan, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

“Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort. They are so similar that you can’t believe in one without equally respecting the other. They both happen because the world is too complex to allow 100% of your actions”
― Housel Morgan, The Psychology of Money

“Everything worth pursuing has less than 100% odds of succeeding, and risk is just what happens when you end up on the unfortunate side of that equation”
― Housel Morgan, The Psychology of Money

“The line between “inspiringly bold” and “foolishly reckless” can be a millimeter thick and only visible with hindsight.”
― Housel Morgan, The Psychology of Money

“Getting money is one thing. Keeping it is another.”
― Housel Morgan, The Psychology of Money

“apropos”
― Housel Morgan, The Psychology of Money

“Risk is what you don't see.”
― Housel Morgan, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

“The world is full of obvious things which nobody by any chance ever observes.” —Sherlock Holmes”
― Housel Morgan, The Psychology of Money

“janitor to philanthropist.”
― Housel Morgan, The Psychology of Money

“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.”
― Housel Morgan, The Psychology of Money

“executive”
― Housel Morgan, The Psychology of Money

“I’ve been banging away at this thing for 30 years. I think the simple math is, some projects work and some don’t. There’s no reason to belabor either one. Just get on to the next.”
― Housel Morgan, The Psychology of Money

“A bit more means waiting for a good job to come around after you get laid off, rather than having to take the first one you find. That can be life changing.”
― Housel Morgan, The Psychology of Money

“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. The simple idea that most people wake up in the morning trying to make things a little better and more productive than wake up looking to cause trouble is the foundation of optimism.”
― Housel Morgan, The Psychology of Money

“cackling”
― Housel Morgan, The Psychology of Money

“There is no reason to risk what you have and need, for what you don't have and don't need.”
― Housel Morgan, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

“blue chip stocks.”
― Housel Morgan, The Psychology of Money

“I am optimistic and confident that the world can generate real economic growth and that over the next 20 years that growth will accrue to my investments.”
― Housel Morgan, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

“Money is everywhere, it affects all of us, and confuses most of us. It offers lessons on things that apply to many areas of life, like risk, confidence, and happiness.”
― Housel Morgan

“incredulously”
― Housel Morgan, The Psychology of Money