Morgan Housel
“The Psychology of Money” is acknowledged as a game changer. It gave me fresh perspectives, validation, and the confidence to continue on the path I had set out on financially. So it wasn’t surprising that I was looking forward to Same As Ever.
To begin with, I think you shouldn’t expect the refreshing sense you’d get from the previous book. This is even more so if you’ve been reading the Collab Blog. The book’s cover promises ‘timeless lessons on risk, opportunity, and living a good life’ and to some extent, delivers on all. There are many extremely good insights and the pithy ways in which Housel articulates profound truths continue to be a source of ‘aha’.
What I missed though was the smooth flow of the previous book. It doesn’t help that many of the chapters seem to be force fitted into a narrative, and many anecdotes and other content are from the blog. Housel does go for a structure but I think it might have helped if this were presented as just a series of essays. He does say that these are standalone but then also proceeds to try connections at the end of each chapter. The overall experience therefore is a little jarring.
Having said that, Same As Ever is a useful book to read, with some great but lesser-known anecdotes, and indeed, timeless insights.
Notes and Quotes
“Risk is what’s left over after you think you’ve thought of everything” ~ Carl Richards
“Invest in preparedness, not in prediction” ~ Nassim Nicholas Taleb
Money brings happiness the same way drugs bring pleasure: incredible if done right, dangerous if used to mask a weakness, and disastrous when no amount is enough.
“The majority of Americans were likely than their descendants to be dogged by the frightening sense of insecurity that comes from being jostled by forces – economic, political, international – beyond one’s ken. Their horizons were close to them.” ~ Frederick Lewis Allen (1900)
People don’t want accuracy. They want certainty.
If you have the right answer, you may or may not get ahead. If you’ve the wrong answer but you’re a good storyteller, you’ll probably get ahead (for a while). If you’ve the right answer and you’re a good storyteller you’ll most certainly get ahead.
“Humour is a good way to show you’re smart without bragging” ~ Mark Twain
“The higher the monkey climbs a tree, the more you can see his ass” ~ T. Boone Pickens
“A mind that is stretched by new experience can never go back to its old dimensions” ~ Oliver Wendell Holmes
