Morgan Housel – A Successful Value Investor Focuses on Why a Stock Is Cheap

<p><a href= "https://www.linkedin.com/in/morgan-housel-5b473821/"><strong>Morgan Housel</strong></a> <span style="font-weight: 400;">is a partner at</span> <a href="https://www.collaborativefund.com/"><span style= "font-weight: 400;">The Collaborative Fund</span></a> <span style= "font-weight: 400;">and a former columnist at The Motley Fool and The Wall Street Journal.</span></p> <p><span style="font-weight: 400;">He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism.</span></p> <p><span style="font-weight: 400;">His book</span> <em><span style= "font-weight: 400;">The Psychology of Money,</span></em> <span style="font-weight: 400;">was just released and is available</span> <a href= "https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness-ebook/dp/B084HJSJJ2/"> <span style="font-weight: 400;">here</span></a><span style= "font-weight: 400;">.</span></p> <p><strong> </strong></p> <p><strong>“Investing is not like physics where the laws of gravity were the same in Newton’s days, and they are in our days. Investing strategies evolve overtime to get to the point where they don’t work anymore.”</strong></p> <p><span style="font-weight: 400;">Morgan Housel</span></p> <p><span style="font-weight: 400;"> </span></p> <h2><strong>Worst investment ever</strong></h2> <p><span style="font-weight: 400;">One of the first investment books that Morgan read was the</span> <a href= "https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661"> <span style="font-weight: 400;">Intelligent Investor</span></a> <span style="font-weight: 400;">by Benjamin Graham, written over 50 years ago. The book talks about all these practical strategies that value investors can use to pick stocks. One of them that Graham goes into great detail about is buying stocks for less than the book value.</span></p> <h3>