Motley Fool Money - Morgan Housel on Market History and Wild Minds

Every stock market valuation is a number from today multiplied by a story about tomorrow.


Morgan Housel is the best-selling author of The Psychology of Money and Same as Ever. Robert Brokamp interviewed Housel at our member event FoolFest. This episode is a cut of their conversation. They discuss:


- Why professional money managers often underperform the market.

- The relationship between success and luck for investors.

- Saving like a pessimist and investing like an optimist.

- What spreadsheets can’t tell you about spending.

- The benefit of losing money early in an investing journey.


Companies/Tickers Mentioned: TSLA


Host: Robert Brokamp

Guest: Morgan Housel

Producer: Ricky Mulvey

Engineer: Tim Sparks

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Global News Podcast - Bonus: The Global Story – The most contested land in the world?

This is a bonus episode from The Global Story - taking a look at a much-debated slogan, and a journey through the land that it refers to; from the River Jordan to the Mediterranean sea. Since the start of the war between Israel and Hamas last year, the cry “From the River to the Sea” has been heard more and more as a pro-Palestinian slogan. But what river? What sea? And what exactly does the phrase mean? It is the subject of intense controversy. BBC Current Affairs journalist Tim Whewell joins our presenter Lucy Hockings to discuss his journey from the River Jordan to the Mediterranean Sea, across a tiny stretch of land - that is perhaps the most argued-over in the world. The Global Story brings you one big story every weekday, making sense of the news with our experts around the world. Insights you can trust, from the BBC World Service. For more, go to bbcworldservice.com/globalstory or search for The Global Story wherever you got this podcast.

NBN Book of the Day - Musa al-Gharbi, “We Have Never Been Woke: The Cultural Contradictions of a New Elite” (Princeton UP, 2024)

How a new "woke" elite uses the language of social justice to gain more power and status--without helping the marginalized and disadvantaged.

Society has never been more egalitarian—in theory. Prejudice is taboo, and diversity is strongly valued. At the same time, social and economic inequality have exploded. In We Have Never Been Woke: The Cultural Contradictions of a New Elite (Princeton UP, 2024), Musa al-Gharbi argues that these trends are closely related, each tied to the rise of a new elite—the symbolic capitalists. In education, media, nonprofits, and beyond, members of this elite work primarily with words, ideas, images, and data, and are very likely to identify as allies of antiracist, feminist, LGBTQ, and other progressive causes. Their dominant ideology is “wokeness” and, while their commitment to equality is sincere, they actively benefit from and perpetuate the inequalities they decry. Indeed, their egalitarian credentials help them gain more power and status, often at the expense of the marginalized and disadvantaged.

We Have Never Been Woke details how the language of social justice is increasingly used to justify this elite—and to portray the losers in the knowledge economy as deserving their lot because they think or say the “wrong” things about race, gender, and sexuality. Al-Gharbi’s point is not to accuse symbolic capitalists of hypocrisy or cynicism. Rather, he examines how their genuine beliefs prevent them from recognizing how they contribute to social problems—or how their actions regularly provoke backlash against the social justice causes they champion.

A powerful critique, We Have Never Been Woke reveals that only by challenging this elite’s self-serving narratives can we hope to address social and economic inequality effectively.

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Everything Everywhere Daily - Gamblers Who Beat the House

You have probably heard the expression, “The house always wins.”

This is usually true….in fact, it's almost always true.

If it weren’t true, then casinos wouldn’t exist. Every game in a casino is designed to give the house an edge so that in the long run, with enough players, they are mathematically guaranteed to win money. 

However, there have been a few occasions where people have figured out a way to use the rules in their favor to win big. 

Learn more about the gamblers who beat the house on this episode of Everything Everywhere Daily.


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Pod Save America - What Undecided Voters Think of Kamala Harris (Ep. 6)

Jon is joined by longtime pollster Sarah Longwell to discuss how swing voters are reacting to Kamala Harris’ unexpected campaign for president. How did they react to Biden’s decision to withdraw? What concerns do they have about Kamala Harris’ chances against Trump? And is her candidacy reigniting their capacity for hope? Sarah shares new focus group tape collected during Kamala Harris’ first week on the campaign trail to find the answers and talks to Jon about the Vice President’s path to the White House. 

Take action with Vote Save America: Visit votesaveamerica.com/2024  

Order Democracy or Else: How to Save America in 10 Easy Steps at crooked.com/books or wherever books are sold. 

Up First from NPR - The Sunday Story: Fighting for Trans Rights in Uganda

This past spring, in the east African nation of Uganda, the country's highest court upheld The Anti-Homosexuality act. It calls for tough sentences-sometimes even the death penalty - for LGBTQ+ people. On this episode of The Sunday Story, the tale of a trans woman in Uganda who calls herself Rihanna Mukasa. Rihanna was one of the first to be brought to court under the Anti-Homosexuality Act. As she fought a convoluted legal battle, she was brutalized in prison for nine months. After her release, Rihanna found an unexpected ally in her deeply traditional and religious mother. Together, they've become outspoken critics of the government, risking their lives to stand up for LGBTQ+ rights in the country that considers them criminals.

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What Next | Daily News and Analysis - TBD | The Panopticon Olympics

How France changed its own laws to have the safest, most pervasively surveilled Olympics ever—and why some are worried the new security system will stay in place long after the games end.


Guests: 

Anne Toomey McKenna, professor, author, and expert in electronic surveillance.

Henry Grabar, covering the Olympics in Paris for Slate.


Want more What Next TBD? Subscribe to Slate Plus to access ad-free listening to the whole What Next family and all your favorite Slate podcasts. Subscribe today on Apple Podcasts by clicking “Try Free” at the top of our show page. Sign up now at slate.com/whatnextplus to get access wherever you listen.

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The Gist - BEST OF THE GIST: Like Gold, Bronze Is Better Than Silver Edition

In this installment of Best Of The Gist, with the 2024 Summer Olympic Games underway in France, we listen back to a 2016 Spiel, in which, Mike tries to get to the bottom of an Olympian canard about the happiness of bronze medalists. Then we listen back to our Tuesday Spiel, when Mike ponders Kamala Harris’ past as a prosecutor and whether or not that will mean anything as she faces a convicted felon in the race for President. 

 

Produced by Joel Patterson and Corey Wara 

Email us at thegist@mikepesca.com 

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Subscribe to our ad-free and/or PescaPlus versions of The Gist: https://subscribe.mikepesca.com/ 

Follow Mike’s Substack: Pesca Profundities | Mike Pesca | Substack 

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