korrents

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Because stock returns are concentrated in a few winners that are very hard to know in advance, owning the whole index guarantees owning whichever ones turn out to be the drivers.

Drawn from what Morgan Housel said

Subjectsstock marketinvesting
What these subjects mean

stock market Equities as a whole: what returns have been, whether prices carry information, and what attention does to them.

investing Putting money into markets on purpose: what a portfolio is for, whether active management earns its cost, and what money is actually a means to.

What Morgan Housel actually said

  1. Morgan Housel Partner at Collaborative Fund and author of The Psychology of Money
    it's always the case that it's very taal driven the distribution of returns and owning the index just guarantees that whatever is going to be the next driver I own because it's extremely difficult to know what those are going to be

    Where this was said

    Watch from 0:14:05 plays here

    ↗Morgan Housel: What You Need to Master (And Avoid) to Get Rich, Stay Rich, and Build Wealthyoutube.com

    28 May 2024 · video · 1h 34m · spoken · machine transcript

    All 12 korrents from this recordingthis one is 5th

Added to korrents 9 Oct 2026 · How quotes work · Something wrong? Tell us

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