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    Collaborative Fund | Morgan Housel | 3/7/18 | 5 min
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    Collaborative Fund
    5 reads
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    • Florian
      Top reader this weekReading streak
      3 weeks ago

      A ton of good advice and some thought provoking statements like this one:

      “The dead outnumber the living 14 to 1, and we ignore the accumulated experience of such a huge majority of mankind at our peril.” The biggest lesson from the 100 billion people who are no longer alive is that they tried everything we’re trying today.

    • deephdave
      Top reader this weekReading streakScout
      3 weeks ago

      Your personal experiences make up maybe 0.00000001% of what’s happened in the world but maybe 80% of how you think the world works. People believe what they’ve seen happen exponentially more than what they read about has happened to other people, if they read about other people at all. We’re all biased to our own personal history. Everyone. If you’ve lived through hyperinflation, or a 50% bear market, or were born to rich parents, or have been discriminated against, you both understand something that people who haven’t experienced those things never will, but you’ll also likely overestimate the prevalence of those things happening again, or happening to other people.