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The Morgan Housel Podcast

Morgan Housel•www.morganhousel.com
Business

The Morgan Housel Podcast -- timeless lessons on wealth, greed, and happiness.

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Episodes

Playing Your Own Game

From the archives: one of my favorite topics -- the importance of playing your own game. Thanks to my friends at Public.com All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they ea...

Sep 12, 2025•20 min•Season 83Ep. 83

Big Ideas From The Art of Spending Money

Pre-order my new book The Art of Spending Money here . *** Thanks to my friends at Public.com All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible f...

Aug 29, 2025•11 min•Season 1Ep. 82

Investing: The Greatest Show on Earth

Thanks to my friends at Public.com All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocu...

Aug 15, 2025•12 min•Season 1Ep. 81

How I Think About Debt

This episode challenges the common view of debt solely based on interest rates. It argues that the real cost of debt lies in its ability to narrow the range of life's inevitable volatility you can withstand. Using analogies like long-lived businesses and a squiggly line representing life's ups and downs, the host explains how debt reduces your flexibility and options when faced with unforeseen events, emphasizing that volatility is a certainty, not just a possibility.

Jun 02, 2025•9 min•Season 1Ep. 78

Let Me Convince You To Save Money

Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

May 06, 2025•12 min•Season 1Ep. 75

Tariffs, Trust, Risk, and Regret

Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Apr 16, 2025•16 min•Season 1Ep. 73

Reasonable vs. Rational

The most impactful idea to me personally in my book: My theory is that most investment models maximize for risk-adjusted returns, but in the real world every investor wants to maximize for sleeping well at night and being proud of themselves in a complicated world. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Apr 02, 2025•16 min•Season 1Ep. 71

Fees vs. Fines: The Cost of Admission in Investing

One of my favorite psychology studies showed that if you know a reward is coming, but you don't know exactly when, you are susceptible to losing your mind. Isn't it so similar in investing? Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Mar 28, 2025•12 min•Season 1Ep. 70

Beautiful vs. Practical Advice

I heard a phrase recently: “Magazine architect.” It’s a derisive term architects use for their colleagues who design buildings that look beautiful, grace magazine covers, and win awards, but lack functionality for the tenants. The same is so true for financial professionals. If you are looking for practical advice, beware hiring an artist whose goal is to be praised should be, too. Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan....

Mar 20, 2025•13 min•Season 1Ep. 69

The Psychology of Why Prediction Can Be So Hard

A few ideas on why prediction is so hard, and the weird things than happen in our head when we want certain outcome to be true. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Mar 14, 2025•16 min•Season 1Ep. 68

The Art and Science of Investing

Technology is a science. It’s semiconductors and code and batteries. But Steve Jobs talked about how the iPad was playful and begged you to pick it up as much as he’d talk about its processor. The iPhone is a technological marvel, but Jobs spent a lot of time talking about how it felt in your hand, and the experience of opening the box. Job’s insight, and the most important factor in Apple’s success, was realizing that technology isn’t merely a science. It’s just as much an art. Thanks to my fri...

Mar 12, 2025•14 min•Season 1Ep. 67

Counterintuitive Competitive Advantages

A few things you might consider disadvantages that actually, in hindsight, could end up as something you're grateful for. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Mar 04, 2025•12 min•Season 1Ep. 66

Pure Independence

A simple formula for a pretty nice life is independence plus purpose. Purpose is different for everyone. Sometimes it’s family, sometimes it’s community, religion, work, whatever. But independence is more universal. Our desire to be independent, why we want it, what prevents us from achieving it, and why some people sabotage their ability to have it, is such a common story across cultures and generations. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more....

Feb 28, 2025•18 min•Season 1Ep. 65

A Few Things I'm Pretty Sure About

A collection of things I've been thinking about lately that I hope you find valuable regardless of your profession. Thanks to my friends at Eight Sleep. Check out eightsleep.com/morganhousel for more.

Feb 21, 2025•17 min•Season 1Ep. 64

Tails, You Win

A story about how tails drive everything, and why the vast majority of your success in investing and in life will come from just a few of the things you do. Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Feb 07, 2025•16 min•Season 1Ep. 63

All The Different Ways Your Life Could Have Turned Out

Everyone knows one version of the world -- the one that's actually happened. But that's just one of infinitive possibilities that could have occurred. I asked ChatGPT to write different versions of how my life could have ended up, and was stunned by the results. I'd be you'd have the same experience. Thanks to my friends at 10 East -- check out 10east.co .

Jan 29, 2025•20 min•Season 1Ep. 62

Minimum Levels of Stress

Most people – and definitely society as a whole – seem to have a minimum level of stress. They will never be fully at ease because after solving every problem the gaze of their anxiety shifts to the next problem, no matter how trivial it is relative to previous ones. Thanks to my friends at Ramp -- the best expense accounting system I've seen. For more check out ramp.com/morgan.

Jan 24, 2025•13 min•Season 1Ep. 61

What I Learned In 2024: A Tale of Tails

A look at the big story dominating this year: tails drive everything, and everything from businesses to careers either work extraordinarily well, or not at all. With thanks to my friends at Nitrogen: check out nitrogenwealth.com.

Dec 23, 2024•13 min•Season 1Ep. 60

Experts From a World That No Longer Exists

The world evolves faster than people's beliefs do. This episode looks at the need to change your mind, and why it's so difficult to do so. Thanks to my friends at 10 East -- check out 10east.co.

Dec 06, 2024•13 min•Season 1Ep. 58

Universal Laws of the World

A few laws from random sciences that almost certainly apply to your own -- regardless of what you do for a living. Thanks to my friends at Nitrogen -- check out nitrogenwealth.com

Nov 27, 2024•18 min•Season 1Ep. 57

Why Pessimism Sounds So Smart

If you're a student of history, you know that most things have gotten better for most people over time. But read the news and what do you hear? Pessimism, pessimism, pessimism. There are several reasons why. Special thanks to my friends at Readwise -- check out Readwise.IO/morgan.

Nov 15, 2024•17 min•Season 1Ep. 57
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