Chapter
Investing Tips
1:02:36 - 1:08:33 (05:56)
The importance of learning how to invest properly rather than chasing unsustainable gains, as exemplified by a story of someone who turned $1,000 into $50,000 and eventually half a million.
Clips
While teaching the right way to invest is important, experiencing the ups and downs of investing is also valuable in learning hard lessons.
1:02:36 - 1:04:20 (01:43)
Summary
While teaching the right way to invest is important, experiencing the ups and downs of investing is also valuable in learning hard lessons.
ChapterInvesting Tips
Episode#222 - Morgan Housel - How To Become Wealthy, Stay Wealthy & Be Happy
PodcastModern Wisdom
Bill Ackman made a 6-week short and made billions by placing expensive insurance on his trades in response to the stock market crash in March.
1:04:20 - 1:05:30 (01:10)
Summary
Bill Ackman made a 6-week short and made billions by placing expensive insurance on his trades in response to the stock market crash in March.
ChapterInvesting Tips
Episode#222 - Morgan Housel - How To Become Wealthy, Stay Wealthy & Be Happy
PodcastModern Wisdom
In investing, the success of great investors is often tied to a handful of successful trades they made, while other investments may not matter as much.
1:05:30 - 1:07:04 (01:33)
Summary
In investing, the success of great investors is often tied to a handful of successful trades they made, while other investments may not matter as much. For instance, if Berkshire Hathaway makes $100 billion in profit, the other failed investments they made do not affect their long-term returns.
ChapterInvesting Tips
Episode#222 - Morgan Housel - How To Become Wealthy, Stay Wealthy & Be Happy
PodcastModern Wisdom
The outrageousness of a company's sales or worth does not indicate the limits of its market growth, as an unsustainable business can still become sustainable over time.
1:07:04 - 1:08:33 (01:28)
Summary
The outrageousness of a company's sales or worth does not indicate the limits of its market growth, as an unsustainable business can still become sustainable over time. Predicting the turning point of a company's performance is complex and uncertain.