How Morgan Housel Think About Market & His Investment Strategy.

So Hello Guys This Is The New Edition Of Zero To One ->

So i recently i listen this podcast and i have drawn some of the learnings from it. Here the learnings list is prepared by me and i would be share it in my own words.

Learnings :

1. The very important behaviours?we need to consider beyond investing are Risk Greed Fear And Uncertainty in market.
2. Rather than thinking what will happen I future its better to be prepare for uncertain things that may happen based on past data.
3. Here Morgan housel when talks about the risk management part many people are forecasting a potential uncertain things that may rise and giving them the probability like(10% chances or 50% chances) the total probability must be below 100% because you don’t know the things that will happen in future so the uncertain things may look like 2008 crises, Covid-19 and many more
4. Morgan says that risks is what we don’t see and things that happens, happen for the reasons that we cannot imagine
5. He also say that people usually thinks in yes or no pattern like in 2016 precedential election the prediction of Donald Trump win was only 25% but he won and people start to criticise the forecaster that he was wrong but they don't think that he actually give 25% of chances of winning Donald trump Here Morgan says that people judge in binary term.
6. Here Morgan housel say that there is a big but uncertain event in every 10 years which fundamentally break the world.
7. ?When it comes to changing peoples mind the numbers don’t change the peoples mind but stories do change the peoples mind this is because numbers are hard to contextualize but stories are simple to memorize.
8. Stories works all over the world like in politics, finance because the person with right answer necessarily doesn't get ahead but the person with great story does (The Elon musk told the story of tesla that what tesla could be in coming future and look it went very well)
9. Every valuation number is number from today multiply by the story of tomorrow.
10. Market almost never spent any time at that level it is always at some irrational boom or bust.
11. Here Morgan say that 95% of the time market either look overvalued or undervalued.
12. The investing strategy of Morgan Housel is pretty simple he say that he is happy with average returns for above average time
13. Here Morgan suggest that if you want to be happy keep less expectation and you will be happy because people usually measured the success by net-worth money and the materialistic things and at some point they are going to be unhappy so its very important to measure the success with your health & good relationships happiness and all.

Thank You.....