Chapter
The Risks We Don't Envision
1:52:34 - 1:59:33 (06:59)
The biggest risks are usually the ones we don't envision, and only planning for risks that are imaginable would often result in missing the actual biggest risk that could hit us.
Clips
The psychological experience of living through a period of calamities and disasters is very different, and investing during these times is stressful.
1:52:34 - 1:55:14 (02:40)
Summary
The psychological experience of living through a period of calamities and disasters is very different, and investing during these times is stressful. Even if the average shows positive results, it's important to look at the experiences during the specific time periods.
ChapterThe Risks We Don't Envision
Episode#576: Morgan Housel — The Psychology of Money, Picking the Right Game, and the $6 Million Janitor
PodcastThe Tim Ferriss Show
Focusing solely on the risks that you can envision will cause you to miss the biggest risk that could actually hit you, just like how no investor had a pandemic on their economic outlook for 2019.
1:55:14 - 1:57:28 (02:14)
Summary
Focusing solely on the risks that you can envision will cause you to miss the biggest risk that could actually hit you, just like how no investor had a pandemic on their economic outlook for 2019. It's crucial to be prepared for the unexpected to avoid being wiped out.
ChapterThe Risks We Don't Envision
Episode#576: Morgan Housel — The Psychology of Money, Picking the Right Game, and the $6 Million Janitor
PodcastThe Tim Ferriss Show
The speaker talks about his experience reading books on Kindle and how he uses it to track and share his highlights with friends.
1:57:28 - 1:59:33 (02:05)
Summary
The speaker talks about his experience reading books on Kindle and how he uses it to track and share his highlights with friends.