Chapter
How to Prepare for Economic Uncertainty
24:55 - 30:25 (05:29)
The hosts discuss how to be prepared for unforeseen economic uncertainty, including hoarding cash as a security blanket and being mentally prepared for worst case scenarios.
Clips
The speaker discusses his willingness to prepare himself for any unexpected event leading to economic hardship, and his investing philosophy which emphasizes survival over maximizing returns.
24:55 - 27:34 (02:39)
Investing
Summary
The speaker discusses his willingness to prepare himself for any unexpected event leading to economic hardship, and his investing philosophy which emphasizes survival over maximizing returns.
ChapterHow to Prepare for Economic Uncertainty
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
Choosing to hold a large amount of cash may result in a less profitable long-term investment strategy, but can provide a safety net during a market downturn.
27:34 - 30:25 (02:50)
Investing
Summary
Choosing to hold a large amount of cash may result in a less profitable long-term investment strategy, but can provide a safety net during a market downturn.