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Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy
This collection of essays, written by The Motley Fool's award-winning columnist Morgan Housel, explore the economy we work in and the world we live in. Why are experts so bad at making predictions? Why do rich people take outsized risks to reach for money they don't need? Is America's manufacturing base really dwindling? What did we learn about risk after 9/11? Those questions and many more are tackled in these 21 irreverent and contrarian essays, which will have readers thinking differently about the conventional wisdom.
90 pages, Kindle Edition
First published November 8, 2011
261 people are currently reading
1728 people want to read
About the author
Morgan Housel
21 books3,874 followersMorgan Housel is a partner at The Collaborative Fund. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He lives in Seattle with his wife and two kids.
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Displaying 1 - 30 of 31 reviews
March 23, 2021
TL;DR: Experts are useless. Their forecasts even more so.
August 13, 2020
A pretty short, but excellent collection of interesting essays on investing, finance and business. Definitely worth reading for the last section on investing alone.
February 11, 2020
Author is journalist working for WSJ, and this short book is a collection of his articles/blog posts on the subjects of Economy, finance, investment etc.
July 22, 2025
This was a collection of Morgan Housel's best articles during his time with The Motley Fool.
Kind of crazy how much he's evolved as a writer 1) he's just more compelling today and 2) he was really taking shots at people in his articles back in the day (HP board, Alan Greenspan, goldman executive team, etc.). He really reads like he has a huge chip on his shoulder.
Articles at the beginning were great but the later ones grow progressively worse.
Kind of crazy how much he's evolved as a writer 1) he's just more compelling today and 2) he was really taking shots at people in his articles back in the day (HP board, Alan Greenspan, goldman executive team, etc.). He really reads like he has a huge chip on his shoulder.
Articles at the beginning were great but the later ones grow progressively worse.
August 19, 2020
Great collection of posts
Great example of write often and then post them together as a pretty useful book ;-)
Morgan is a great author and thinker and this book came at the right time for me. I look forward to his book Psychology of Money.
Great example of write often and then post them together as a pretty useful book ;-)
Morgan is a great author and thinker and this book came at the right time for me. I look forward to his book Psychology of Money.
February 3, 2019
Great read
Wonderful book about investing,greed,feeling rich and being rich and also some real insight about people in the stock market.
Condensed history of stock market cycles.
Wonderful book about investing,greed,feeling rich and being rich and also some real insight about people in the stock market.
Condensed history of stock market cycles.
November 1, 2020
Another Gem by Morgan Housel or I would say this was the first gem written by him in 2011. When our pandemic started and the subsequent lockdown was imposed, most of the economic pundits predicted mayhem like never seen before. They had predicted that the entire economy will be in shambles for the next few years and few sectors like auto, real estate might never be able to recover for the next 5 - 10 years. As I write this review, I came across two articles:
1) Maruti Sold Highest cars in October month in its history [Source: RushLane]
2) Mumbai Housing Market (The Costliest in India) Sales in Oct 2020 (Post Covid) surged its Jan 2020 (Pre-covid) levels [Source: Mumbai Mirror}
What does the above say of those pundits? They were wrong. They were wrong for good. But the question is were they wrong for the first time? No! They have been wrong and they will continue to be wrong. Such dubious predictions were made in 2008 during the heights of the Economic crisis as well. They had said the USA will soon disintegrate and it will be acquired by China, Russia and few countries of Europe. But why do we believe them if they have been consistently (if not always) wrong? - The author explains nicely. "We, as humans, like to generalize statistics and reasoning. We cannot deal with an uncertain outcome. It has to be either top or bottom. And Pessimism sells more. It is exactly why analysts on CNBC and other channels love to predict doomsday."
That is also the reason why Donald Trump likes to talk in Superlative Degree - " I am the best president Ever. I know about Taxes, Economy more than anyone else in the world." It is easier for him to penetrate this thought in an Average American's mind (who doesn't read much, does not have an education that fosters them to reason).
Morgan has nicely summed up all the articles of the Motley Fool. He has touched history with a finesse that few could match. His reasoning in few instances does seem like a peg in the square hole but I may attribute it to the difference of culture and understanding. He emphasizes that humans should not believe in any kind of prediction that is done with 100% certainty - because that is just not possible. Rather go with the prediction with the highest probability. And that can never come through a TV analyst. It is only possible by a learned professor (Who doesn't like to be a part of the headline every day) or oneself. Every time you don't know what's going to happen next, refer to history. History has a tendency to repeat itself. And that's why when younger ones hate history and ask why should they study history, tell them, "It has all the answers of what's going to happen in the future"
The reason why everyone should pick up this book is that it will give hope. This hope isn't like that one of "All is Well" from 3 Idiots. The hope comes with the reasoning that is based on economic, political, and psychological analysis.
1) Maruti Sold Highest cars in October month in its history [Source: RushLane]
2) Mumbai Housing Market (The Costliest in India) Sales in Oct 2020 (Post Covid) surged its Jan 2020 (Pre-covid) levels [Source: Mumbai Mirror}
What does the above say of those pundits? They were wrong. They were wrong for good. But the question is were they wrong for the first time? No! They have been wrong and they will continue to be wrong. Such dubious predictions were made in 2008 during the heights of the Economic crisis as well. They had said the USA will soon disintegrate and it will be acquired by China, Russia and few countries of Europe. But why do we believe them if they have been consistently (if not always) wrong? - The author explains nicely. "We, as humans, like to generalize statistics and reasoning. We cannot deal with an uncertain outcome. It has to be either top or bottom. And Pessimism sells more. It is exactly why analysts on CNBC and other channels love to predict doomsday."
That is also the reason why Donald Trump likes to talk in Superlative Degree - " I am the best president Ever. I know about Taxes, Economy more than anyone else in the world." It is easier for him to penetrate this thought in an Average American's mind (who doesn't read much, does not have an education that fosters them to reason).
Morgan has nicely summed up all the articles of the Motley Fool. He has touched history with a finesse that few could match. His reasoning in few instances does seem like a peg in the square hole but I may attribute it to the difference of culture and understanding. He emphasizes that humans should not believe in any kind of prediction that is done with 100% certainty - because that is just not possible. Rather go with the prediction with the highest probability. And that can never come through a TV analyst. It is only possible by a learned professor (Who doesn't like to be a part of the headline every day) or oneself. Every time you don't know what's going to happen next, refer to history. History has a tendency to repeat itself. And that's why when younger ones hate history and ask why should they study history, tell them, "It has all the answers of what's going to happen in the future"
The reason why everyone should pick up this book is that it will give hope. This hope isn't like that one of "All is Well" from 3 Idiots. The hope comes with the reasoning that is based on economic, political, and psychological analysis.
July 14, 2023
Insightful even today
Housel is a gifted writer and extremely insightful regarding financial behavior. You'll get far more from his books than you ever will from any self-proclaimed financial guru with the newest hack to beating the market. Even though this is an older publication, it underscores key concepts and takeaways from his other books, and you can literally see today the relevance they have long-term.
Housel is a gifted writer and extremely insightful regarding financial behavior. You'll get far more from his books than you ever will from any self-proclaimed financial guru with the newest hack to beating the market. Even though this is an older publication, it underscores key concepts and takeaways from his other books, and you can literally see today the relevance they have long-term.
April 13, 2024
In this book, Morgan Housel does a great job showing how negative news and projections don't pan out. Things work out better often, due to human ingenuity. It's 13 years or so ago, and he reflects on dire predictions before that, often showing wonderfully encouraging statistics indicating how things turn out better in the financial markets! It encourages you to be careful about what you are looking at when you read the financial/market news every day!
January 25, 2019
This is one of those books that you want to read and re-read and then well, re-read.
SO much of awesome content, things to read, remind yourself of. The content needs to be read, pondered over, coz that is the only way you get the most from it. TO make the most of it, give it justice it truly deserves.
SO much of awesome content, things to read, remind yourself of. The content needs to be read, pondered over, coz that is the only way you get the most from it. TO make the most of it, give it justice it truly deserves.
March 4, 2018
Nice little “book”
Which is a collection of articles and essays by Housel. Each chapter is in fact a former article or essay and all are easy to read and digest as well as educational. Recommended. 4/5
Which is a collection of articles and essays by Housel. Each chapter is in fact a former article or essay and all are easy to read and digest as well as educational. Recommended. 4/5
March 7, 2019
3.5 rounded. Good information, well written and presented in easily digestible chunks. Probably best for those with limited investing experience but has a few nuggets for experienced investors as well. Examples are a bit outdated but that doesn't take away too much.
February 8, 2020
Better than expected
This turned out to be better than expected. It contains small essay on various topics related to investing. I found it free on Kindle unlimited and happy to read it. It is an easy read which can be read in an evening.
This turned out to be better than expected. It contains small essay on various topics related to investing. I found it free on Kindle unlimited and happy to read it. It is an easy read which can be read in an evening.
January 17, 2021
Dull and a generally outdated Weltanshauuing. A book about that is partially about the economy without a single mention of wealth inequality. This book felt like it was written in 1970. As an aside, I'm noting that ALL of the Kindle Unlimited books suck and I've canceled my trial subscription.
April 12, 2024
Good for what it’s worth. I read ‘Same As Ever’ before this and it hits on some of the same topics and themes. It’s cool in that this was a slice of time (written in 2011) so it’s applied to the events in that year and preceding years.
September 23, 2024
It's a decent collection of articles. However, if you have already read Psychology of Money and Same as Ever by the author, don't bother reading this because pretty much everything mentioned here is repeated in one way or the other in either of those books.
April 20, 2018
Fantastic
If you have a desire to gain a better understanding of markets read everything that Housel writes. Informative without requiring a PHD in Economics.
If you have a desire to gain a better understanding of markets read everything that Housel writes. Informative without requiring a PHD in Economics.
September 14, 2019
Good read. Although all examples are not relevant in 2019 but wisdom/lessons shared are timeless.
December 30, 2019
Just random thoughts penned down
Very avg, started with right concept but it ended up with just a collection of thoughts that are loosely connected with the main topic.
Very avg, started with right concept but it ended up with just a collection of thoughts that are loosely connected with the main topic.
April 2, 2020
Good collection of Blog write ups
Make sense. Get you in to thinking mode. Dont binge read. Read one essay a day and then ponder over it for few min.
Make sense. Get you in to thinking mode. Dont binge read. Read one essay a day and then ponder over it for few min.
October 24, 2021
It's for US readers
I should have know from the title and the blurb, nevertheless, it's a decent read. Morgan housell is a brilliant thinker and pragmatist.
I should have know from the title and the blurb, nevertheless, it's a decent read. Morgan housell is a brilliant thinker and pragmatist.
March 24, 2022
A quick read that exposes the risks and inaccuracies of forecasting in general, and the need for precaution and prudence when exposed to mass spread of information, especially the dire ones.
October 2, 2022
Outstanding collection of essays on investing by my favourite investing author. 100 stars.
November 5, 2022
How we forget
There is more good going on than the media would have you believe, there is no substitute to preceptive analysis
There is more good going on than the media would have you believe, there is no substitute to preceptive analysis
October 28, 2023
Articles collected in a book. Articles were as always good but a bit too superficial, more depth is gained by reading “Psychology of Money”.
October 26, 2024
A little dated but interesting stuff!
January 14, 2026
We have been doctrined because we do some changes. Accepted Islam. Peace be upon him. Ahlussunnah wal jama'ah.
This entire review has been hidden because of spoilers.
February 9, 2026
Really enjoyed this one. Great short stories that are excellent reminders for all investors! Morgan Housel does not miss.
April 20, 2025
Everyone Believes It; Most will be Wrong is by far one of the best books i have read this year but more importantly i can this book as the seed from which “The Psychology of Money” will germinate from and become a best seller. Everyone Believes is just as profound and thought provoking as it was on the day it was published. Housel often states that he writes material for longevity and not for the ephemeral mass consumption and short term focused market, and this book stands as testament to that.
Some of the chapters that hit home to me as a reader and investor were: Ignore reports of the death of individual investor, How the surplus became a deficit, The world is so much more dangerous than you think, Buffett’s crazy comments show why he’s successful, and these last two were particular favourites - 7 traits of phenomenal investors and Investing isn’t for wusses.
I enjoy reading Morgan’s work because he is able to take quick and yet deep dives into subjects and subject areas that i have never considered. I have noticed that on occasion if he steers a little to far from his financial core he starts to miss the bulls-eye but still hits the target. In saying that there are more than enough occasions where i have had to stop reading put down the Kindle and walk away to have more of a think on what he has said and more importantly, why it needed to be said.
Hopefully Housel will write another short book along the lines of Everyone Believes, but with a different focus area where he can deep dives into banking, international money exchange or industrial finance - as some ideas. He has the access, the skill and the ability, so it would be great to see him have a bit of a literary flex.
I loved putting this book down to think about what i had just read as much as i enjoyed picking it up to start read the next section.
Some of the chapters that hit home to me as a reader and investor were: Ignore reports of the death of individual investor, How the surplus became a deficit, The world is so much more dangerous than you think, Buffett’s crazy comments show why he’s successful, and these last two were particular favourites - 7 traits of phenomenal investors and Investing isn’t for wusses.
I enjoy reading Morgan’s work because he is able to take quick and yet deep dives into subjects and subject areas that i have never considered. I have noticed that on occasion if he steers a little to far from his financial core he starts to miss the bulls-eye but still hits the target. In saying that there are more than enough occasions where i have had to stop reading put down the Kindle and walk away to have more of a think on what he has said and more importantly, why it needed to be said.
Hopefully Housel will write another short book along the lines of Everyone Believes, but with a different focus area where he can deep dives into banking, international money exchange or industrial finance - as some ideas. He has the access, the skill and the ability, so it would be great to see him have a bit of a literary flex.
I loved putting this book down to think about what i had just read as much as i enjoyed picking it up to start read the next section.
January 3, 2025
Economic history can be summed up as the story of impecably bad forecasting
Displaying 1 - 30 of 31 reviews