Morgan Housel — The Psychology of Money, Picking the Right Game, and the $6 Million Janitor

Career Moves

Morgan Housel discusses the significant career transitions he has experienced, emphasizing the responsibilities and challenges that come with them. He shares how he moved from The Motley Fool to becoming a partner at Collaborative Fund and a board member at Markel Corporation, highlighting the unexpected opportunities that arose along the way 1. Housel also recounts his early career struggles during the 2007 financial crisis and the uncertainty he faced when transitioning from private equity to writing 2.

I was a summer intern at the time, and the idea was I was going stick around full time after college and become a full time employee, which would have been that fall. And so that was the plan. It was kind of all sketched out like, here's what I'm going to do, I'm going to stick around. And then just before I was going to start full time is when they said, hey, there's not going to be a spot here for you.

--- Morgan Housel

   

From Finance to Writing

Housel reflects on his transition from finance to writing, driven by necessity rather than choice. He describes the initial discomfort and challenges he faced, including a lack of writing background and the harsh feedback from online readers 3. Over time, he developed his writing skills and found his unique voice in the financial media world. Housel also shares his father's unconventional career path, which influenced his own approach to career and financial stability 4.

I had no writing background. And then so the first year was really hard because I had no idea what I was doing, both on the investing front front, like, I had no idea what I was talking about. And on the writing front, I just didn't know how to write a good paragraph.

--- Morgan Housel

   

Influential Voices

Housel provides insights into the world of journalism, particularly the influential voices on Twitter and the importance of thoughtful content. He highlights figures like James Clear and Mark Manson, who maintain a high standard of quality in their tweets 5. Housel also discusses the journalists he respects and follows, emphasizing the value of multidisciplinary thinking and diverse perspectives in journalism 6.

James, Mark and Naval, I think, have, in my view, played the game really well. Josh Brown, he quit Twitter about a year ago, but I thought he was the king.

--- Morgan Housel

   

Serendipity in Writing

Housel delves into the serendipitous moments that have shaped his writing career, including a chance encounter that led him to The Motley Fool 7. He also shares his admiration for prolific writers like Matt Levine, who consistently produce high-quality content despite the challenges of the writing process 8. Housel underscores the universal skills of great writers, noting that their observations and communication abilities can be applied across various fields.

Writing is hard. It's not even for the people that make it look easy. It's almost always like a daily panic attack of, like, oh, shit, what am I going to do now? What am I going to write about now?

--- Morgan Housel