The Global Association of Independent Advisors (GAIA) are pleased to have recently facilitated a presentation for their member firms from noted investment writer Morgan Housel.
In the aim to help member firms always have better conversations and forge deeper connections with their clients, (GAIA) have looked to engage with leading thinkers around the globe in the areas of money, economics, psychology and financial wellbeing.
Morgan Housel’s presentation was the first in this series for GAIA members.
Drawing from his new book ‘The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness’, Mr Housel presented four simple stories on the topics of compounding, risk, markets and simplicity.
Compounding is about our ability to remain invested, lessons from the longevity of Warren Buffett.
Risk is what we don’t see, a lesson from the life and death of Harry Houdini.
Markets continue to work, a lesson that we need focus less on making fantastic decisions and focus more on not making simple mistakes.
Simplicity beats complexity, a lesson that we don’t need the most complex solution to be successful when simplicity often wins.
The stories provided an opportunity to consider these topics from a different angle, facilitating thinking among the GAIA group, with the potential to stimulate new discussions about the importance of behavioural coaching with their client bases.
GAIA would like to thank Mr Housel for his presentation and the follow up Q&A session which provided further valuable insights into his history along with his thinking on money and investment topics.
