Morgan Housel is a foremost leader on all things money & human nature, writer, and author of the book, The Psychology of Money.
With all we know about how medicine works, we still don’t understand the placebo effect very well. Yet, by all accounts it is very powerful. This episode begins with some interesting research that seems to show that believing you are healthy really makes it so. Source: Howard Brody, M.D. author of “The Placebo Response” ( is a tricky subject for just about everyone. Of course there is the “math of money” that shows how money works numerically but there is also how we feel about money. For example, most experts agree that paying off your mortgage is a bad idea, yet many people feel great when they do it. So, who is right? Joining me to discuss why your attitudes about money are just as important as the math is Morgan Housel. He is a partner at the Collaborative Fund and has been a columnist for the Wall Street Journal and the Motley Fool. Morgan is also author of the book The Psychology of Money ( was the last time you cleaned your car seats? Think about all the times people come in and out of your car and all the stuff they have with them. When you hear this, you will want to clean your seats very soon and clean them very well. has witnessed a time when an attractive person got preferential treatment. Good looking people get out of speeding tickets, they get better tables at restaurants, they make more money and they get promoted faster. And it turns out that just about all of us are likely to treat attractive people better. Why? To answer that and explain the ramifications of all of this is Daniel Hamermesh. He is an economist, and a Professor of Economics at Royal Holloway, University of London and author of the book Beauty Pays: Why Attractive People Are More Successful. ( Learn more about your ad choices. Visit
Morgan Housel is a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal. He's the author of The Psychology of Money, where he shares 19 stories about the strange ways people think about money and teaches you how to manage it. I revere Morgan's writing, and this episode was my chance to finally ask him about how he writes so well. We talk about why listening to loud music helps Morgan think, lessons from his favorite non-fiction writer, and why you should start stories at the moment when you're being eaten by a bear. We also talk about the rise of intangible assets in the economy, why the American economy shifted in the 1970s, and how investment strategies have changed over time. ____________________________ Show Notes 2:00 - How the economy is changing, and why the edge in technology is going up while the edge in finance is going down. 6:38 - How the rise of intangible assets is distorting our view of the economy. 9:58 - The benefit of being slightly underemployed and why perceived "leisure" is so important in Morgan's career. 14:12 - What differed between what Morgan thought he would do as a parent and what he actually does. 15:35 - How the 1970s and 1980s fundamentally shifted the economy and culture of America. 20:22 - The three most important factors in really understanding the economy and whether truth or coherence is more important for social stability. 24:35 - How Morgan gets away with almost no collection or organization in creating his work. 29:58 - Why writing for yourself as a way to better understand your gut feelings will always pay off. 31:46 - How and why Morgan searches for the obvious things nobody pays attention to. 34:00 - Why some colleges are here to stay and others are not going to last according to Morgan. 40:11 - The most important things about writing that Morgan has learned from former and current workplaces. 42:24 - The two articles that Morgan is most proud of writing. 45:46 - What it means that people spend more money on the lottery than movies, music, video games, sporting events, and books combined. 49:06 - Why there aren't enough good books about how to write well. 52:15 - A writer that Morgan wishes more people would read their work. 54:32 - How the Ben Affleck speech in Boiler Room inspired Morgan to work in finance. 56:10 - The most difficult part about writing his most recent book.
Bloomberg Opinion columnist Barry Ritholtz speaks with Morgan Housel, who is a partner at Collaborative Fund and author of the new book "The Psychology of Money: Timeless Lessons on Wealth, Greed and Happiness." A former columnist at The Motley Fool and The Wall Street Journal, he is also a two-time winner of the Best in Business Award from the Society for Advancing Business Editing and Writing (formerly the Society of American Business Editors and Writers). 
Morgan Housel is one of the world's foremost leaders on all things money and human nature. He joins us this week to discuss: -Why education improves outcomes in other disciplines but not always in finance -The just-world fallacy as it pertains to wealth -The inescapability of our personal histories -The appropriate balance between optimism and pessimism Don't miss this conversation with one of the deepest thinkers in finance!
View 2 more appearances
Share Profile
Are you Morgan? Verify and edit this page to your liking.

Share This Creator

Recommendation sent

Join Podchaser to...

  • Rate podcasts and episodes
  • Follow podcasts and creators
  • Create podcast and episode lists
  • & much more

Creator Details

Episode Count
Podcast Count
Total Airtime
5 hours, 55 minutes
Podchaser Creator ID logo 680603