You might think you want an expensive car, a fancy watch, and a huge house. But I’m telling you, you don’t. What you want is respect and admiration f… - Morgan Housel

The more you want something to be true, the more likely you are to believe a story that overestimates the odds of it being true.

An important thing about this topic is that most great things in life — from love to careers to investing — gain their value from two things: patience and scarcity. Patience to let something grow, and scarcity to admire what it grows into. But what are two of the most common tactics when people pursue something great? Trying to make it faster and bigger. It’s always been a problem, and always will be. Same as ever.

Intelligence is not a reliable advantage in a world that’s become as connected as ours has. But flexibility is.