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Morgan Housel discusses his book Same as Ever, which argues that the most important truths about human behavior never change. While technology and culture evolve, the psychology of greed, fear, risk, and storytelling remains constant across centuries.
This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.
Canon
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Housel argues that instead of trying to predict what will change (which is impossible), focus on what stays the same: people's relationship with greed, fear, social status, tribalism, and the desire for certainty. These constants are the reliable foundation for any long-term strategy.
Highlights
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Risk is what is left over after you have thought of everything — the things that surprise you are by definition the things you were not thinking about
Housel defines real risk as the events no one is talking about, because the events everyone fears are already priced in and hedged against. True risk is what remains after all known risks have been accounted for.Was this useful?