Morgan, I don’t follow you but I saved an article you wrote in 2016 which I keep in my special file with stuff about Buffet, Munger and old Worth Magazine articles by Peter Lynch from the 1990s. These are special investing articles I love and read again from time to time. I just re-read “ the Agony of High Returns”. You wrote about how hard it is to hold on to an excellent growth stock over 20 years to be rewarded with a 1000 bagger. You use the example of the volatility of owning MNST and how it dropped 50% three times and more than three quarters once. You end it with a quote from C. Munger. I like to read your article again, when my growth stocks are in the dumps. And it helps get my head right. Thank you for excellent article written for the Motley Fool from from 8 years ago! 😊
So glad they shared Morgan with you all. His book, Psychology of Money should be the foundation of any plan you might create to get to financial independence. It doesnt teach you to do anything, teaches you how you can do everything as long as you understand what's driving you to do things. I listen to it (on 1.3 speed) almost every month. The audio version is read by a Chris Hill who hosted Motley Fool podcasts and radio shows for decades. Read this and Taleb's Fooled By Randomness and you'll be on your way.
Solid interview. I like the point he makes on having years of expenses saved in cash to help him sleep at night instead of making X amount more in the market.
Totally Agree...cash is king don't listen to the lies. Yes inflation does erode over time, but you compensate for this by adding more..each year..also you are constantly moving cash between bonds accounts money market accounts.. lastly, you can use it to put in your investments..The money you have any decade is a bonus..life is about survival..you shouldn't have to dip into your investments..lastly before retirement during cash will be you main go to. Never ever get complacent about life money events..all of us should listen to Morgan 50% money & 50% investments...we should not fool ourselves into a false sense of security . If you suddenly won £5 million pounds or $5 mil dollars would you really invest it..nah because we have git what we need instead of having to invest for 40 yrs.
Still making about 5% sitting in cash. First time in a long time you get paid for saving. This is they way it should be. It will encourage people to save and spend less money on unnecessary things. Hopefully it will help reduce inflation but our big bosses keep spending tons of money.
Scott, I’m 100% sure that you’ll be very knowledgeable should you spend that much time reading. I am always amazed by your way of thinking and ability to put things into words. To me you’re just as intelligent as M.H. Thanks for this podcast. Greetings from Germany 👋
Human behaviour never changes and that's why everything is a cycle. We live on a round world, it spins round and goes round. The common denominator is round and that's why everything has to be a cycle. Just finished the book and its very good.
He is so right on just being able to sleep at night. Some sleep like a baby on the side of the mountain, some have to be in a bubble. It’s very much an individual thing.
Always love your video's, they are spot on!!!! Do you have a video on selling rental property and putting the proceeds into a retirement account to save on Capital Gains? Thanks!!
I really liked what he said about not jumping into real estate or anything else simply because others are making a lot of money doing it. I've had thoughts about real estate and ultimately decided it wasn't for me. I have my primary home that is almost paid off and I'm happy with just having that. I'm happy with the returns I am getting with my investment portfolio and career.
So I have thought about this a lot as well. Math says real estate is not a great option. First it’s almost like predicting a single stock. If you get a great property at nice price then you have hit gold. Odds of that are pretty low. Second the phantom costs are so unpredictable it could make or break years of appreciation. After years of contemplating this I have come to the conclusion just buy index funds and let it rot till you absolutely need to get it out
Time is the most critical factor in investment growth. The longer you wait, the significantly less you’ll have down the road. If you're aiming to retire by 60, it's not financially ideal to prioritize paying off your mortgage early before the age of 45.
Hi, I have a 3% mortgage interest rate and suddenly became liquid from the sale of a business and i am confused if i should pay off my mortgage or invest in the stock market.
Keeping a 3% mortgage and investing cash in the market, growing at 10-20%, is basic math. Look up dividend aristocrats, companies with a 25+ year dividend track record. Also, its advisable you work with a financial advisor for a well-structured portfolio.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I love you both for bringing Morgan on! Awesome!!! "... dollar cost average into their 401k and forgot their password." He is as enjoyable to listen to as his books are to read.
There is one key point that I agree with the point but not the perspective from Morgan. Money, rather, value *is* a zero sum game. Money printing makes the number go up, but if your dollars grow in line with inflation, you still have the same value. Munger is right. Only 25% can be in the top quartile. Same is true of the bottom quartile. In order to gain value it *must* come from someone else. The best claim I could see for it not being zero sum is to factor in that everyone values everything differently and for every transaction where someone felt they got the better deal, they implicitly believe the other side of the trade lost value. I view value like energy. It cannot be created or destroyed, but it can be converted or transferred.
Great interview! I am actually traveling in Spain right now and this is the book of choice I brought to read. Loved the interview and love the book. I am hoping I can read it twice on this trip!
I wonder, when this new GFC ( Global financial crisis) hits if Australia will handle it better or worse because we didn’t really do the last 2008 one 🤔
Great interview. We sold our inherited NJ condo after 12 years. My cousin was my tenant. I realize that I couldn’t deal with real tenants. Plus we got burnt with the tech bubble and the Iraq war late eighties purchasing our first house when we were 23 y/o. The house mortgage was under underwater in 3 years!
In todays market with people having access to the markets on their phones, I don’t think it’s a good idea to buy and hold forever because there are too many pump and dump happening
@@carlyndolphin That’s a dumb take on life. You offer extremely bad advice. The problem is within you, not the comment you responded to. Someone can’t handle opposing views and would prefer an authoritarian take at shutting the other person up.
@@AliBooondokI am actually on the autistic spectrum plus I have ADHD and dyslexia. In monetary terms I have achieved more than you. £4 million in commercial and residential property (no mortgages), plus £1 million in global ETFs and a company worth £1 million.
The guy in the blue shirt is a terrible interviewer. Every episode i watch he drags the question on, stutters, etc... like bruh just be a straight shooter and ask the question directly. Stop wasting everyones time!
Morgan, I don’t follow you but I saved an article you wrote in 2016 which I keep in my special file with stuff about Buffet, Munger and old Worth Magazine articles by Peter Lynch from the 1990s. These are special investing articles I love and read again from time to time.
I just re-read “ the Agony of High Returns”. You wrote about how hard it is to hold on to an excellent growth stock over 20 years to be rewarded with a 1000 bagger. You use the example of the volatility of owning MNST and how it dropped 50% three times and more than three quarters once. You end it with a quote from C. Munger. I like to read your article again, when my growth stocks are in the dumps. And it helps get my head right. Thank you for excellent article written for the Motley Fool from from 8 years ago! 😊
Morgan is so well spoken and intelligent. I love listening to him speak👏🏾
Just finished reading psychology of money 👍🏿; it’s a book you can read over and over and still pick up new things. Will start the new one this weekend
This guy has changed my thinking regarding investing, I'm most grateful to you.
So glad they shared Morgan with you all. His book, Psychology of Money should be the foundation of any plan you might create to get to financial independence. It doesnt teach you to do anything, teaches you how you can do everything as long as you understand what's driving you to do things. I listen to it (on 1.3 speed) almost every month. The audio version is read by a Chris Hill who hosted Motley Fool podcasts and radio shows for decades.
Read this and Taleb's Fooled By Randomness and you'll be on your way.
Ppppppppp
Solid interview. I like the point he makes on having years of expenses saved in cash to help him sleep at night instead of making X amount more in the market.
Dumb
Clever...Warren Buffett has millions in cash...common sense
Totally Agree...cash is king don't listen to the lies. Yes inflation does erode over time, but you compensate for this by adding more..each year..also you are constantly moving cash between bonds accounts money market accounts.. lastly, you can use it to put in your investments..The money you have any decade is a bonus..life is about survival..you shouldn't have to dip into your investments..lastly before retirement during cash will be you main go to. Never ever get complacent about life money events..all of us should listen to Morgan 50% money & 50% investments...we should not fool ourselves into a false sense of security . If you suddenly won £5 million pounds or $5 mil dollars would you really invest it..nah because we have git what we need instead of having to invest for 40 yrs.
Still making about 5% sitting in cash. First time in a long time you get paid for saving. This is they way it should be. It will encourage people to save and spend less money on unnecessary things. Hopefully it will help reduce inflation but our big bosses keep spending tons of money.
@@holdencawffle626 Care to explain your comment?
Morgan you are AMAZING!!! Love your simple principles and not interested in real estate either!
Wow! Fantastic episode. I have not read the psychology of money yet, but this episode seemed to completely encompass what the psychology of money is.
Scott, I’m 100% sure that you’ll be very knowledgeable should you spend that much time reading. I am always amazed by your way of thinking and ability to put things into words. To me you’re just as intelligent as M.H.
Thanks for this podcast. Greetings from Germany 👋
Morgan shares is knowledge in a very simplified easy to understand manner. Thank you Morgan.
Awesome interview! Morgan, if you ever write another piece, please consider writing on "how to think like nobody is watching"😊😅
One of best interview I ever heard! Thank you!
Morgan never misses! Basically, boring and consistent will get you there!
Human behaviour never changes and that's why everything is a cycle. We live on a round world, it spins round and goes round. The common denominator is round and that's why everything has to be a cycle. Just finished the book and its very good.
This was my absolute favorite episode so far!!
Morgan has a great podcast too, surprised it wasn't mentioned.
followed, thank you
Love his book. My favorite of all times!
He is so right on just being able to sleep at night. Some sleep like a baby on the side of the mountain, some have to be in a bubble. It’s very much an individual thing.
A great interview. Thank you
That question about real estate investing and the answers were amaaazing. Thank you!
I bought of his books and learned alot.
Always love your video's, they are spot on!!!! Do you have a video on selling rental property and putting the proceeds into a retirement account to save on Capital Gains? Thanks!!
I really liked what he said about not jumping into real estate or anything else simply because others are making a lot of money doing it. I've had thoughts about real estate and ultimately decided it wasn't for me. I have my primary home that is almost paid off and I'm happy with just having that. I'm happy with the returns I am getting with my investment portfolio and career.
So I have thought about this a lot as well. Math says real estate is not a great option. First it’s almost like predicting a single stock. If you get a great property at nice price then you have hit gold. Odds of that are pretty low. Second the phantom costs are so unpredictable it could make or break years of appreciation. After years of contemplating this I have come to the conclusion just buy index funds and let it rot till you absolutely need to get it out
Time is the most critical factor in investment growth. The longer you wait, the significantly less you’ll have down the road. If you're aiming to retire by 60, it's not financially ideal to prioritize paying off your mortgage early before the age of 45.
Hi, I have a 3% mortgage interest rate and suddenly became liquid from the sale of a business and i am confused if i should pay off my mortgage or invest in the stock market.
Keeping a 3% mortgage and investing cash in the market, growing at 10-20%, is basic math. Look up dividend aristocrats, companies with a 25+ year dividend track record. Also, its advisable you work with a financial advisor for a well-structured portfolio.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Melissa Elise Robinson is the advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Yes, absolutely fabulous interview. Not long enough! Definitely tge best or one of the best episodes.❤
I love you both for bringing Morgan on! Awesome!!! "... dollar cost average into their 401k and forgot their password." He is as enjoyable to listen to as his books are to read.
This was really good 😊
Great to hear. Learned alot. Thank you so much❤
I also read psychology of money on my honeymoon 😅
Great Information thanks ❤
There is one key point that I agree with the point but not the perspective from Morgan. Money, rather, value *is* a zero sum game. Money printing makes the number go up, but if your dollars grow in line with inflation, you still have the same value. Munger is right. Only 25% can be in the top quartile. Same is true of the bottom quartile. In order to gain value it *must* come from someone else. The best claim I could see for it not being zero sum is to factor in that everyone values everything differently and for every transaction where someone felt they got the better deal, they implicitly believe the other side of the trade lost value.
I view value like energy. It cannot be created or destroyed, but it can be converted or transferred.
Great interview! I am actually traveling in Spain right now and this is the book of choice I brought to read. Loved the interview and love the book. I am hoping I can read it twice on this trip!
I wonder, when this new GFC ( Global financial crisis) hits if Australia will handle it better or worse because we didn’t really do the last 2008 one 🤔
Great interview. We sold our inherited NJ condo after 12 years. My cousin was my tenant. I realize that I couldn’t deal with real tenants. Plus we got burnt with the tech bubble and the Iraq war late eighties purchasing our first house when we were 23 y/o. The house mortgage was under underwater in 3 years!
I am 73 and I did not know my grand parents working
All four of my grandparents where retired when I was born. They retired I am guessing around 50 years old
Morgan doesn’t consider the benefit of leverage in real estate which can multiply total returns significantly. That’s a double edged sword of course.
Seems like as the years pass it's harder and harder to be optimistic. They feed you fear at every angle.
Yea I think most people don’t invest because there is an actual chance that you can lose all your money in 2 seconds
In todays market with people having access to the markets on their phones, I don’t think it’s a good idea to buy and hold forever because there are too many pump and dump happening
Because wallstreet is in the red so they push their narratives to scare investors.
The Reasonable Optimus is as epic definition
❤❤❤
Who’s the person with the beard in the thumbnail?
Realistic confidence.
5:00
My idol ❤❤ Change my life !
Sweet video!
Expert advice is important. That’s why I DON’t go to doctors for health advice
Yes stay away from doctors they’re trained to make you a permanent customer
In the video they literally talked about how this analogy doesn’t transfer as well into finance.
ESTJ with developed Ne
How does he get 5% on his cash?! Newbie here…
Money market account like one at Schwab
Some certificates of deposit offer 5%
Etrade has a premium savings account as does Morgan Stanley.
more videos
@4:15 it's definitely Trump 😂
Another jack bogle disciple
OMG, I can't stand this woman!
If you have nothing positive to say keep your mouth shut.
@@carlyndolphin That’s a dumb take on life. You offer extremely bad advice. The problem is within you, not the comment you responded to. Someone can’t handle opposing views and would prefer an authoritarian take at shutting the other person up.
@@AliBooondokI am actually on the autistic spectrum plus I have ADHD and dyslexia. In monetary terms I have achieved more than you. £4 million in commercial and residential property (no mortgages), plus £1 million in global ETFs and a company worth £1 million.
@yunzhenzeng-posner4203, just go and watch other podcast if you don't want her, ok???!!!...you're being rude...
The guy in the blue shirt is a terrible interviewer. Every episode i watch he drags the question on, stutters, etc... like bruh just be a straight shooter and ask the question directly. Stop wasting everyones time!
Cry about it and go take a hike
Exactly frugality at the moment will buy you time in the future.