Morgan Housel on Gaining a Competitive Edge as an Investor | Afford Anything Podcast (Audio-Only)

Morgan Housel has spent thousands of hours reading about investing.
As a former columnist for the Wall Street Journal and The Motley Fool, he's spent more than a decade reading, interviewing, thinking and writing about how to manage money.
And he's come to a simple conclusion: less is more.
Doing nothing is often the best course of action.
Patience, humility and long-term thinking give individual investors a massive competitive edge over major institutions.
The classic strategy of dollar-cost averaging into index funds is a smart approach.
And ultimately, success is based more on emotions than Excel.
This week, Morgan joins me on the podcast to discuss how to gain a competitive edge as an investor.
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For more information, visit the show notes at affordanything.com/episode12
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[@dyhppyx]

Paula really appreciate how you sum it up at the end

[@PlayDohMagic]

awesome information

[@srishail05]

Thank you 🙏

[@Lifeissorich.]

34:43

[@jeremysilverman2561]

So broadly if the thesis is buy and hold passive index funds, once you've spent a few days putting a portfolio together, you then leave it alone for 20 years, perhaps rebalancing annually. So my question is what else do you do with your time? Why do you constantly check Bloomberg, Twitter, NY times, etc? Surely these only increase your propensity to tinker

[@sabyasachirimpa]

Index funds are for those salaried people who don't have enough time to analyse and invest. For them passive investing is best.

[@jeremysilverman2561]

@@sabyasachirimpa You can still put together a diversified portfolio of passive ETF trackers and active ETFs. I think even for those who have the time to analyse, passive ETFs will outperform over the long term, after costs.

[@carlgarrett5142]

I highly recommend the book "Fortune's Children" that Morgan mentioned on the show.