Everyone Believes It; Most Will Be Wrong Quotes

“What really gives people meaning and happiness is a combination of four things: Control over what they're doing, progress in what they're pursuing, being connected with others, and being part of something they enjoy that's bigger than themselves.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“Malcolm Gladwell put it best: "Good writing does not succeed or fail on the strength of its ability to persuade. It succeeds or fails on the strength of its ability to engage you, to make you think, to give you a glimpse into someone else's head -- even if in the end you conclude that someone else's head is not a place you'd really like to be.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“Buffett's rich because he thinks about investments as businesses -- commitments backed by people he trusts, and people who trust him -- not as tradable shares that can be bought or sold with abandon. That, more than anything, is what's made him so successful.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“Part of Goldman Sachs' business is advising public companies on the virtues of returning private. Gone are the worries of beating expectations every quarter. Focus can shift to the long term. No disgruntled shareholders, no outside influences -- just business.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“What looks like tomorrow's problem is rarely the real problem when tomorrow rolls around." In other words, the world is fundamentally unpredictable. Things happen that no one could have seen coming. If you can't accept that when things change your opinions might need to change, too, you will be left anchored to a reality that no longer exists -- and likely making terrible predictions.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“Here's what we do know. In the field of positive psychology, the study of what motivates people and makes us happy, researchers are mostly in agreement: Money isn't the key to happiness. What really gives people meaning and happiness is a combination of four things: Control over what they're doing, progress in what they're pursuing, being connected with others, and being part of something they enjoy that's bigger than themselves. Keep that in mind, and I want to ask you: What is enough? How much is enough money? How much is enough success? There's no right answer; everyone's different. Just something to think about next time you find yourself reaching for more.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“But to quote Buffett again, who once ridiculed a different group of defunct financiers: "To make money they didn't have and didn't need, they risked what they did have and did need. And that's foolish. It is just plain foolish. If you risk something that is important to you for something that is unimportant to you, it just does not make any sense.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“The title, as Bogle explains, comes from a conversation between Kurt Vonnegut and novelist Joseph Heller, who are enjoying a party hosted by a billionaire hedge fund manager. Vonnegut points out that their wealthy host had made more money in one day than Heller ever made from his novel Catch-22. "Yes," says Heller, "but I have something he will never have: enough.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“When Rich People Do Stupid Things March, 2011 Enough. That's the title of Vanguard founder John Bogle's book about measuring what counts in life.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“People focus on role models; It is more effective to focus on antimodels -- people you don't want to resemble when you grow up.” --Nassim N. Taleb”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“There are three types of business writing. The first is breaking news. That's what Reuters does -- just the facts. The second is analyzing news, or putting those basic facts into context. Think New York Times and Wall Street Journal. The third is taking existing facts and analysis and presenting them in a way that causes readers to think differently about a topic. That's what I try to do when I write.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“The main distinction is that those who make the best predictions have a collection of little ideas and are always incorporating new information into their outlooks, while those making the worst predictions have one grand theory that they trumpet through thick and thin. Tetlock calls the former foxes, the latter, hedgehogs.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

“The United States, with income per capita of $29,000 and annual health care expenditures per head of $5,711, sees a life expectancy of seventy-seven years. Compare this to Costa Rica, where annual income per head is $6,500, annual health expenditures per capita is $305, and life expectancy is seventy-nine years.”
― Morgan Housel, Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy