Episode
#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
1:02:34
Published: Mon Mar 16 2020
Description
Morgan Housel is a writer and investor. Markets are down 25% and the biggest single day market move in recent history was due to the Coronavirus Outbreak. What does this mean for the global economy? Expect to learn Morgan's advice for trading and holding assets during this time, why the markets have reacted in this way, what the signals would be that things are improving, how you can financially prepare for the coming months and much more. Extra Stuff: Follow Morgan on Twitter - https://twitter.com/morganhousel Buy Morgan's Book - https://amzn.to/2xAHWXD My first episode with Morgan - https://youtu.be/91TgP1D0Kps Take a break from alcohol and upgrade your life - https://6monthssober.com/podcast Check out everything I recommend from books to products - https://www.amazon.co.uk/shop/modernwisdom - Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/ModernWisdomPodcast Email: https://www.chriswillx.com/contact
Chapters
The podcast explores the current state of the financial markets in relation to the COVID-19 pandemic, discussing strategies for coping with the situation and how to avoid boredom while under containment or lockdown.
00:00 - 03:24 (03:24)
Summary
The podcast explores the current state of the financial markets in relation to the COVID-19 pandemic, discussing strategies for coping with the situation and how to avoid boredom while under containment or lockdown.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The severity and length of the COVID-19 pandemic may not equate to that of the Great Depression, but it is likely to cause significant changes to the regular order of life.
03:24 - 16:36 (13:11)
Summary
The severity and length of the COVID-19 pandemic may not equate to that of the Great Depression, but it is likely to cause significant changes to the regular order of life. China may face the biggest economic hit initially, but they also have the potential for a faster recovery due to their quick response to control the curve.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The recent stock market meltdown raises questions about the role of computer algorithms in financial decisions during a crisis.
16:36 - 20:31 (03:55)
Summary
The recent stock market meltdown raises questions about the role of computer algorithms in financial decisions during a crisis. These automated programs can lead to bizarre outcomes during times of market volatility and create a new layer of risk in the market.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
In 2011, financial markets took a downturn and looked like the start of another great recession.
20:32 - 24:55 (04:22)
Summary
In 2011, financial markets took a downturn and looked like the start of another great recession. However, many investors did not make a single transaction during that time, showing the importance of a long-term investment strategy.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
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.
24:55 - 30:25 (05:29)
Summary
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.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
Losing a significant portion of your investments is something that should be expected as a long-term investor to earn profits, and such losses can range from 20% to 50%.
30:25 - 37:19 (06:54)
Summary
Losing a significant portion of your investments is something that should be expected as a long-term investor to earn profits, and such losses can range from 20% to 50%. Financial risks are unique to every person and are dependent on their financial, job, and family situations.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The unpredictability of the pandemic has proven that no one truly knows what the future holds, despite claims made by some experts.
37:19 - 44:28 (07:08)
Summary
The unpredictability of the pandemic has proven that no one truly knows what the future holds, despite claims made by some experts. The quick sharing of the genetic sequence of COVID by China shows the importance of working together to combat the virus.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The discussion revolves around whether people should feel guilty about investing in stocks, particularly if their wealth is used to secure their family's future, and the benefits of making systematic investments in the stock market.
44:28 - 49:34 (05:06)
Summary
The discussion revolves around whether people should feel guilty about investing in stocks, particularly if their wealth is used to secure their family's future, and the benefits of making systematic investments in the stock market.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The current situation has led to a high level of uncertainty, causing people to be cautious about predicting their future.
49:34 - 54:40 (05:05)
Summary
The current situation has led to a high level of uncertainty, causing people to be cautious about predicting their future. The pandemic has caused much anxiety and difficulty in many people's lives, leading to a sense of hesitation in facing the unknown.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The COVID-19 pandemic has made people search for ways to spend their free time at home.
54:40 - 59:09 (04:29)
Summary
The COVID-19 pandemic has made people search for ways to spend their free time at home. Among the options, listening to podcasts and reading books is becoming increasingly popular.
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
In this podcast episode, the speaker shares some anti-fragile pieces of advice for challenging times, such as buying a Kindle, a new musical instrument, and seeking accurate news from reliable sources.
59:09 - 1:02:19 (03:09)
Summary
In this podcast episode, the speaker shares some anti-fragile pieces of advice for challenging times, such as buying a Kindle, a new musical instrument, and seeking accurate news from reliable sources.