What Never Changes
Everyone tells us to keep our eyes on the never ending changes all around us, but what would happen if we actually turned that around and focused what doesn't change? Ever?
Capital Thinking • Issue #1189 • View online
No one is quoted more often on this blog than Morgan Housel. And there's a good reason for that.
Housel's ability to describe complex subjects, offer valuable insights into human behavior, and spin stories that both entertain and instruct, are unmatched.
His latest book, Same as Ever, is no different. You can buy it on Amazon and Barnes & Noble. (India edition here, UK edition here).
If you're expecting an in-depth book review, here it is: Buy the damn book! Just buy the book.
For a small taste of what it's about, read on.
My New Book
I once had lunch with a guy who’s close with Warren Buffett.
This guy – we’ll call him Jim (not his real name) – was driving around Omaha, Nebraska with Buffett in late 2009. The global economy was crippled at this point, and Omaha was no exception. Stores were closed, businesses were boarded up.
Jim said to Warren, “It’s so bad right now. How does the economy ever bounce back from this?”
Warren said, “Jim, do you know what the best-selling candy bar was in 1962?”
“No.” Jim said.
“Snickers,” said Warren. “And do you know what the best-selling candy bar is today?”
“No,” said Jim.
“Snickers,” Warren said.
Then silence. That was the end of the conversation.
History is filled with surprises no one could have seen coming. But it’s also filled with so much timeless wisdom.
If you traveled in time to 500 years ago or 500 years from now, you would be astounded at how much technology and medicine has changed. The geopolitical order would make no sense to you. The language and dialect may be completely foreign.
But you’d notice people falling for greed and fear just like they do in our current world.
You’d see people persuaded by risk, jealousy, and tribal affiliations in ways that are familiar to you.
You’d see overconfidence and short-sightedness that reminds you of people’s behavior today.
You’d find people seeking the secret to a happy life and trying to find certainty when none exists in ways that are entirely relatable.
When transported to an unfamiliar world, you’d spend a few minutes watching people behave and say, “Ah. I’ve seen this before. Same as ever.”
*Featured post image by Shyam Mishra on Unsplash