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☆ Most of Warren Buffett’s wealth was accumulated after age 65. Here’s what that can teach individual investors
▼ + stars: | 2024-05-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

"His skill is investing, but his secret is time," Morgan Housel wrote in the bestselling business book, "The Psychology of Money." To that point, 99% of Buffett's net worth was accumulated after he was 65 years old, Housel said during a 2022 interview with CNBC. That's up substantially from the $84.5 billion net worth Buffett had at the time Housel's book was published in 2020. Most of that wealth came in Buffett's later years, Housel wrote, with $84.2 billion after he turned 50 and $81.5 billion after he turned 65. "The trick is to have a very long hill, which means starting very young or living … to be very old," Buffett said.

Persons: Warren Buffett, Berkshire Hathaway, Morgan Housel, Housel, Buffett Organizations: Berkshire, Berkshire Hathaway, CNBC Locations: Omaha , Nebraska, Buffett's

☆ Wall Street experts have high hopes for 2024, but they're usually wrong
▼ + stars: | 2023-12-04 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The analyst community (which forecasts individual stock earnings and prices) is also making estimates for 2024. Unfortunately, like their macroeconomic strategist brethren, Wall Street analysts also have a long history of being wrong on their forecasts. Since the S & P 500 rises in almost three out of four years, analysts are understandably a generally bullish group. There have been four years in the last 20 where the analyst estimates at the start of the year differed from the final estimates by a margin greater than 25%. No wonder the S & P 500 closed Friday at a new high for the year.

Persons: Bob, John Butters, FactSet, Morgan Housel Organizations: Wall Street

☆ 'The Psychology of Money' author Morgan Housel gives advice to investors afraid of market downturns
▼ + stars: | 2023-12-03 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

The author behind the best-selling book "The Psychology of Money" is trying to relieve investor anxiety over market downturns. "Realizing how inevitable it is makes it more palatable to deal with when you go through it," author and behavioral finance expert Morgan Housel told CNBC's "ETF Edge" recently. He also advises investors to always have a plan for surprise events because they can catch the market off guard. Housel added these surprise events, such as natural disasters and pandemics, tend to be all that matter in market shakeups. But just as the market eventually stabilizes, even times of calm can also "plant the seeds for crazy."

Persons: Morgan Housel, CNBC's, Housel Organizations: Collaborative Fund Locations: Housel

☆ Wall Street is again making predictions for next year, but don't pay too much attention
▼ + stars: | 2023-11-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Not surprisingly, Wall Street tends to be a bullish group. Wall Street has a terrible track record All of this gets investor juices flowing. Wall Street strategists collectively have a terrible track record. As a result, you might be tempted to think you should pay no attention to Wall Street, or anybody else. If nothing else, the predictions of Wall Street strategists are a good starting point for all of us to think about the near future.

Persons: Lori Calvasina, America's Savita Subramanian, Morgan Stanley's Michael Wilson, Goldman Sachs, Morgan Stanley, Jeff Sommer, Sommer, Morgan Housel, I'm Organizations: Deutsche Bank, BMO Capital Markets, RBC Capital Markets, Bank, America's, Wall Street, of America, Barclays, UBS, Wealth, Wells, Wells Fargo Securities, Street, New York Times, Yardeni Research, Federal Reserve, Wall Locations: Wells Fargo, Russia, Ukraine, Israel

☆ 'Same as ever:' Lessons on wealth, greed and happiness from Morgan Housel
▼ + stars: | 2023-11-27 | by ( Bob Pisani | ) www.cnbc.com time to read: +13 min

Morgan Housel(Note: Morgan Housel will be on HalfTime Report today at 12:35 PM ET and on ETF Edge at 1:10 PM. To give you an idea of how big that is, a typical financial book will sell roughly 5,000 copies. Now Housel is back with a second book, "Same As Ever: Timeless Lesson on Wealth, Greed and Happiness." Housel cites Charlie Munger, who noted that the world isn't driven by greed, it's driven by envy. Today's economy is good at generating three things: wealth, the ability to show off wealth, and great envy for other people's wealth."

Persons: Morgan Housel, Twain, Bill Gates, Gates, Morgan, Housel, Charlie Munger, Nassim Taleb, Elon Musk, Steve Jobs, Walt Disney, — Organizations: Collaborative Fund, Edge, Lakeside High School, National War Labor Board, Rolex Locations: Seattle, California

☆ "Zero-day" for commodities
▼ + stars: | 2023-11-27 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email"Zero-day" for commoditiesMorgan Housel, author of "Same as Ever" and partner at the Collaborative Fund, and Dave Nadig, VettaFi financial futurist, join CNBC's Bob Pisani on 'ETF Edge' to discuss the risk behind zero-day options-based ETFs.

Persons: Morgan Housel, Dave Nadig, Bob Pisani Organizations: Collaborative Fund

☆ ETF Edge: Why change seems to be accelerating but human behavior is not
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge: Why change seems to be accelerating but human behavior is notMorgan Housel, author and partner at the Collaborative Fund, and CNBC's Bob Pisani join 'Halftime Report' to discuss the impact of behavior on investing, the frequency of 100-year events, and more.

Persons: Morgan Housel, Bob Pisani Organizations: Collaborative Fund

☆ "Calm plants the seed for crazy"… or, investing in the inevitable
▼ + stars: | 2023-11-27 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email"Calm plants the seed for crazy"… or, investing in the inevitableMorgan Housel, author of "Same as Ever" and partner at the Collaborative Fund, and Dave Nadig, VettaFi financial futurist, join CNBC's Bob Pisani on 'ETF Edge' to discuss the impact of human behavior on investing.

Persons: Morgan Housel, Dave Nadig, Bob Pisani Organizations: Collaborative Fund

☆ ETF Edge, November 27, 2023
▼ + stars: | 2023-11-27 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge, November 27, 2023Morgan Housel, author of "Same as Ever" and partner at the Collaborative Fund, and Dave Nadig, VettaFi financial futurist, join CNBC's Bob Pisani on 'ETF Edge' to discuss everything from the impact of behavior on investing, the frequency of 100-year events, and more.

Persons: Morgan Housel, Dave Nadig, Bob Pisani Organizations: Collaborative Fund

☆ Bill Gates is a 'rational optimist' – and maybe you should be too
▼ + stars: | 2023-11-09 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Bill Gates has found the perfect balance between optimism and pessimism, says Morgan Housel. The Microsoft cofounder also seems to be demonstrating "rational optimism" when it comes to AI. Morgan Housel describes Gates a "rational optimist" in a piece for CNBC, meaning he prepares for any short-term setbacks while maintaining an optimistic outlook for the future. AdvertisementAdvertisementWorrying about having enough cash to pay staff wages is the perfect example of rational optimism, says Housel. The 68-year-old is now applying his rational optimism to AI.

Persons: Bill Gates, Morgan Housel, —, Gates, Housel, Charlie Rose, He's Organizations: Microsoft, Service, CNBC, Bloomberg Locations: Harvard

When it comes to money, your mindset has a big impact on the way you spend, save, and invest. For me, four lessons from the book helped me improve my money mindset and invest more. Housel writes, "My own theory is that, in the real world, people do not want the mathematically optimal strategy. This is in line with some advice I've offered in my book "Dear Debt," regarding debt repayment. Reading "The Psychology of Money" was so fulfilling for me and helped me shift my money mindset out of anxiety and scarcity to feelings of "enoughness."

Persons: Reading Morgan, I've, —, Morgan Housel, Warren Buffett, Buffett, it's, Housel, he's, there's, doesn't, Bill Gates, Gates, Kent Evans Organizations: Reading, Service, —

☆ The No. 1 'hidden' skill behind billionaire Bill Gates' success, says psychology expert—it works 'in any field'
▼ + stars: | 2023-11-07 | by ( Morgan Housel | ) www.cnbc.com time to read: +2 min

NEW YORK, NEW YORK - SEPTEMBER 21: Bill Gates, Founder of Breakthrough Energy and Co-Chair of the Bill & Melinda Gates Foundation, speaks onstage at The New York Times Climate Forward Summit 2023 at The Times Center on September 21, 2023 in New York City. Optimism and pessimism are hard to deal with. Optimism and pessimism seem like conflicting mindsets, so it's more common for people to prefer one or the other. Successful people find a balance between pessimism and optimismBill Gates is a great example of how effective this hidden skill is. What Gates seems to get is that you can only be an optimism in the long run if you're pessimistic enough to survive the short run.

Persons: Bill Gates, Melinda Gates, Charlie Rose, Warren Buffett's, Gates Organizations: NEW, Breakthrough Energy, Melinda Gates Foundation, The New York, Climate, The Times Center, Microsoft Locations: New York City

☆ A real-estate investor who owns 12 properties shares the 10 business, investing, and personal development books that helped him build a $2.7 million portfolio in just 4 years
▼ + stars: | 2023-05-05 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +9 min

These books cover real estate and investing, business, personal development, and leadership. Intrigued by real-estate investing, Rivers took the plunge and bought his first real-estate investment property in 2019. In a recent interview, Rivers shared the 10 books — spanning topics such as business, investing, and personal development — that helped him scale his portfolio quickly. "What It Takes" by Stephen A. SchwarzmanThis book, written by the billionaire investor and Blackstone CEO Stephen A. Schwarzman, is one of Rivers' personal favorites. While much of the focus for entrepreneurs is on building a business, Rivers said understanding how to sell a business was just as important.

☆ A real estate investor who owns 12 units shares the 10 business, investing, and personal development books that helped him build a $2.7 million portfolio in just 4 years
▼ + stars: | 2023-04-16 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +9 min

These books cover real estate and investing, business, personal development, and leadership. Intrigued by real estate investing, in 2019 Rivers decided to take the plunge and buy his first real estate investment property. In a recent interview with Insider, Rivers recalled only making $28,000 during his first year of selling real estate. It taught him the expectations to set for his employees while he was building up his full-service real estate firm, Rivers Capital Group. While much of the focus for entrepreneurs is on building a business, Rivers believes that selling a business is just as important.

☆ Early retiree says reading these 8 books helped him save $1 million: ‘I wasn’t born into money'
▼ + stars: | 2023-03-14 | by ( Steve Adcock | ) www.cnbc.com time to read: +3 min

This book was originally published in 1996, but the basic money principles can still be applied today. For example, many experts recommend brewing your coffee at home to save money, but not Sethi. In fact, he teaches readers to uncover their "rich life" by spending lavishly on things they care about while cutting back on what doesn't matter. Money expert Morgan Housel explores the psychological side of finance in a clever and non-judgmental way. "Your Money or Your Life: 9 Steps to Transforming Your Relationship With Money and Achieving Financial Independence"

☆ The fear of missing out can be a killer for investors. Here's how top-ranked financial advisors keep it at bay
▼ + stars: | 2022-10-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Michael H | Digitalvision | Getty ImagesThe fear of missing out, or FOMO, can be a powerful psychological force — and it may lead unwary investors to lose bundles of money, according to financial advisors. Financial advisor Josh Brown uses the term "animal spirits" to describe the concept of investors allowing their emotions to guide them. Problem is: Investors often only hear about the big winners, not the duds, advisors and experts said. Various hype-men and -women and social media communities helped nudge investors to buy in last year. watch nowHow advisors overcome investors' FOMOPlaying off that future regret is how top financial advisors try to dissuade investors from succumbing to FOMO.

☆ Here's why Warren Buffett has been so successful, 'Psychology of Money' author says
▼ + stars: | 2022-09-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

There's a very simple reason why billionaire investor Warren Buffett has been so successful, according to "Psychology of Money" author Morgan Housel. In fact, "99% of Warren Buffett's net worth was accumulated after he was 65 years old," he said. "The real lesson, if you look at his net worth, is that it is just the amount of time he's been doing it for," Housel added. "If Buffett had retired at age 65, you would have never heard of him." Buffett, who is worth more than $97 billion , recently turned 92.

☆ CNBC Pro Exclusive: Morgan Housel and Bob Pisani talk smarter investing at Future Proof Conference
▼ + stars: | 2022-09-13 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Exclusive: Morgan Housel and Bob Pisani talk smarter investing at Future Proof ConferenceCNBC Senior Markets Correspondent Bob Pisani sits down exclusively with "The Psychology of Money" author Morgan Housel to discuss smarter ways to invest and spend to create generational wealth.

Warren Buffett is a skilled investor who is studied, analyzed, and imitated by many. But the "secret" to Buffett's immense wealth is simply how long he's been investing, writes Morgan Housel in his new book "The Psychology of Money." "Effectively all of Warren Buffett's financial success can be tied to the financial base he built in his pubescent years and the longevity he maintained in his geriatric years," Housel writes in his book. And if you invest money at the level of someone like Buffett, the results become "ridiculous, impractical numbers," Housel writes. High returns are nice, of course, but they're difficult to come by and not the only way to build wealth, Housel writes.

☆ A father's letter to his kid: The 9 money and life lessons most people learn too late in life
▼ + stars: | 2020-06-19 | by ( Morgan Housel | ) www.cnbc.com time to read: +5 min

But, one day, she'll need some money and life advice. As a father who has spent much of his career studying and writing about money, behavioral finance and business, this is what I'll tell her:1. It's easy to assume that wealth and poverty are caused by the choices we make, but it's even easier to underestimate the role of chance in life. Warren Buffett once said: True success in life is "when the number of people you want to have love you actually do love you." No amount of money can compensate for a lack of character, honesty and genuine empathy towards others.

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