Summary of Same as Ever by Morgan Housel: A Guide to What Never Changes E-Book

SUMMARY GP

• Herausgeber: BookRix
• Kategorie: Geisteswissenschaft
• Sprache: Englisch

Veröffentlichungsjahr: 2023

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This book does not in any capacity mean to replace the original book but to serve as a vast summary of the original book.
 
Summary of Same as Ever by Morgan Housel: A Guide to What Never Changes
 
IN THIS SUMMARIZED BOOK, YOU WILL GET:
 

• Chapter astute outline of the main contents.
• Fast & simple understanding of the content analysis.
• Exceptionally summarized content that you may skip in the original book

 
 
Morgan Housel's book, "Same as Ever," offers a powerful tool to understand the changing world. The book teaches us to focus on what remains constant, rather than speculating about the future. Housel's approach to investing involves optimizing risk, seizing opportunities, and living our best life. By focusing on what is permanently true, we can better anticipate the big stuff and achieve success in both financial comforts and a well-lived life. 

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GP SUMMARY

Summary of Same as Ever by Morgan Housel: A Guide to What Never Changes

Morgan Housel's "Same as Ever" provides a valuable approach to understanding the changing world, emphasizing the importance of focusing on what remains constant, optimizing risk, seizing opportunities, and living a fulfilling life.BookRix GmbH & Co. KG81371 Munich

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Summary of Same as Ever

A

Summary of Morgan Housel’s book

A Guide to What Never Changes

GP SUMMARY

Summary of Same as Ever by Morgan Housel: A Guide to What Never Changes

By GP SUMMARY© 2023, GP SUMMARY.

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Author: GP SUMMARY

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NOTE TO READERS

This is an unofficial summary & analysis of Morgan Housel’s “Same as Ever: A Guide to What Never Changes” designed to enrich your reading experience.

DISCLAIMER

The contents of the summary are not intended to replace the original book. It is meant as a supplement to enhance the reader's understanding. The contents within can neither be stored electronically, transferred, nor kept in a database. Neither part nor full can the document be copied, scanned, faxed, or retained without the approval from the publisher or creator.

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This eBook is licensed for your personal enjoyment only. This eBook may not be resold or given away to other people. If you are reading this book and did not purchase it, or it was not purchased for your use only, then please purchase your own copy. You agree to accept all risks of using the information presented inside this book.

Copyright 2023. All rights reserved.

Introduction

In this book, the author discusses the timeless wisdom that remains unchanged in a changing world. The author shares his experiences with Warren Buffett and Jim, who were discussing the global economy's decline during a lunch conversation. The author argues that history is filled with surprises and surprises, but also contains timeless wisdom. The author explains that people fall for greed and fear, risk, jealousy, and tribal affiliations in familiar ways, while overconfidence and shortsightedness are relatable to today's behavior.

The author believes that these timeless lessons can help us make better sense of our own lives, understand why the world is the way it is, and become more at ease with what the future holds. He also highlights the importance of focusing on universal truths, which don't rely on chance, luck, or accident. For example, the author cites Naval Ravikant's quote about living in a way that if his life played out 1,000 times, he would be successful 999 times.

The book is divided into twenty-three chapters, each with a personal story about the scariest day of his life. The author believes that these universal truths will be as relevant in every imaginable version of one's life, as they were in the past. The author encourages readers to read independently and consider the relevance of these topics in their own lives.

Hanging by a Thread

The author shares a personal story about a ski accident that led to the author's interest in history. Growing up in Lake Tahoe, the author was part of the Squaw Valley Ski Team, which consisted of a dozen racers. They had become inseparable friends and skied six days a week, traveling the globe to find snow. On February 15, 2001, the team had just returned from a race in Colorado when a blizzard extreme hit. The storm left three feet of heavy, wet snow, creating textbook avalanche conditions. Ski resorts are good at protecting customers from avalanches by closing off dangerous slopes and using explosives to set them off late at night.

On February 21, 2001, the author and two friends decided to ski the backside of Squaw Valley (now Palisades Tahoe) after an avalanche. The author was caught in the snow, realizing they had no control in these situations. The avalanche ended quickly, and the author agreed to pick up Brendan and Bryan to avoid having to hitchhike back.

However, the author found Brendan and Bryan missing and had to drive around to pick them up. When Bryan's mom called the author, she realized they had skied the backside of KT-22 the day before and had not seen them since. The author's mother, an expert skier herself, pieced together what may have happened.

The author recounts a tragic incident involving two ski racers, Brendan and Bryan, who were found dead in an avalanche. They were discovered wearing their ski boots on their feet, which led to the police filing a missing person report. The author was informed by the local search and rescue team, who discovered the avalanche debris field and searched for them.

The author's locker room was almost empty by midnight, but by nine a.m., the area was filled with other ski racers, parents, friends, and family eager to help. The author fell asleep, but woke up to a scream, yelling, and commotion. She realized that the avalanche had killed Brendan and Bryan, who were born one day apart and died ten feet from each other.

The author then reflects on the decision to ski the backside with the two skiers, a decision that almost certainly saved their life. They have no explanation for this decision, as they didn't think through the danger or consult an expert. They believe it was a random and thoughtless bit of dumb luck that became the most important decision of their life.

The author shares three examples of how much of today's world relies on small things that are often overlooked. For example, the Battle of Long Island could have been the end of the Revolutionary War if the wind wasn't blowing in the right direction.