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Risk is best defined as whatever could keep a person from their own goals, so stock-market volatility is a risk for a day trader and not for someone retiring in fifty years.

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.

Mental modelMargin of safety

On the topicWhich mental models help you think better?under our view: Leave a margin of safety, because you will be wrong sometimes

What Morgan Housel actually said

  1. Morgan Housel Partner at Collaborative Fund and author of The Psychology of Money
    I think broadly it's anything that's going to prevent you from achieving the goals that you want that's a a very basic answer but I think that's what it is and the reason that's important is because take volatility in the stock market is that risk well it could be if you're a day trader then yes if the market goes down tomorrow that's a risk for you if you're in if you're going to retire in 50 years it's not whatsoever

    Where this was said

    Watch from 0:46:30 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 9th

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

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