Author: Morgan Housel

Morgan Housel is a partner at Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal.

Common Causes of Very Bad Decisions · Collaborative Fund

Reading Time: 5 minutes Italian psychologist Massimo Piattelli-Palmarini was once asked why people keep making the same mistakes. He said: Inattention, distraction, lack of interest, poor preparation, genuine stupidity, timidity, braggadocio, emotional imbalance, ideological, racial, social or chauvinistic prejudices, and aggressive or prevaricatory instincts. Let me add some more: Incentives can tempt good people to push the boundaries farther […]

What We're Reading

Reading Time: 2 minutes No tenure: Despite working dozens of hours a week and teaching an unconscionable number of classes (often at different schools), many faculty members “lack a living wage, benefits, pension, long-term contract, paths for career advancement, involvement in [university] governance, [and] protection[s] of academic freedom.” At nonunionized universities, which is to say most of them, the […]

What We’re Reading · Collaborative Fund

Reading Time: 2 minutes College admissions: With a tsunami of applicants who are qualified on the surface, what matters at this point are the elements that differentiate students and the chances that they will ultimately choose Davidson—what admissions officers call LTE, likelihood to enroll. The more these admissions officers dissect an applicant’s intentions now, the better Davidson will fare […]

Save Like A Pessimist, Invest Like An Optimist · Collaborative Fund

Reading Time: 5 minutes In 1984 Jane Pauley interviewed 28-year-old Bill Gates. “Some people call you a genius,” Pauley said. “I know that might embarrass you but …” Gates deadpans. No emotion. No response. “OK, I guess that doesn’t embarrass you,” Pauley says with an awkward laugh. Again, zero reaction from Gates. Of course he was a genius. And […]

What We’re Reading · Collaborative Fund

Reading Time: 2 minutes Divergent outcomes: In March and April, according to OpenTable, the reservation booking company, business in restaurants in Germany and the U.S. were in the identical place, down over 90 percent year over year. Since then they have diverged widely: data for Aug. 16 (the latest data at this writing) shows German restaurants enjoyed 9 percent […]

What We’re Reading · Collaborative Fund

Reading Time: 2 minutes Wealth: When you’re trying to get wealthy, you think it’s this ridiculously important thing. And then when you make some level of money and you’re “financially independent,” you realize that it does make your life easier. In some ways you have a little bit more access to things and certainly more luxury, but it doesn’t […]

What We’re Reading · Collaborative Fund

Reading Time: 2 minutes Intelligence: To solve logic-proof problems requires intelligent, logical people to admit the possibility they might be wrong about something, but these people’s minds are often most resistant to change – perhaps because their status is deeply entwined with their capacity for reason.. Highly educated people don’t merely use logic; it is part of their identity. […]

What We’re Reading · Collaborative Fund

Reading Time: 2 minutes Covid habits: Americans are smoking more during the coronavirus pandemic because they are spending less on travel and entertainment and have more opportunities to light up. They are also switching back to traditional cigarettes from vaping devices in the wake of federal restrictions on e-cigarette flavors. Executives at Marlboro maker Altria Group Inc. pointed to […]

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