FINANCE IS MORE THAN JUST MATH | MORGAN HAUSEL
FINANCE IS MORE THAN JUST MATH | MORGAN HAUSEL
Morgan Housel analyzes how finance and mathematics are often confused as if they function in the same way, when in reality, they are completely different concepts. In mathematics, there is always a definitive and unchanging answer, whereas in finance, due to its involvement with individuals, there will always be varying responses dependent on individual circumstances. Each person has different needs, requirements, and perspectives, meaning what may be right for one person may not be for another, and vice versa. This aspect is intriguing and prompts reflection, as fully understanding these dynamics allows for more informed growth within society.
Morgan Housel provides an example to illustrate this concept: the majority of lottery tickets are purchased by the poorest individuals. This may seem paradoxical, as those with limited funds spend what they have on a lottery that they are likely to lose. However, the difference lies precisely here: for these individuals, the lottery represents their only chance to improve their financial situation, their sole source of hope. Thus, in finance, there are no absolute answers in terms of right or wrong, as each of us determines what is right for ourselves.
🎙️ Speaker: Morgan Hausel
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