A good definition of an investing genius is the man or woman who can do the average thing when all those around them are going crazy. Tails drive eve… - Morgan Housel

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A good definition of an investing genius is the man or woman who can do the average thing when all those around them are going crazy. Tails drive everything.

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Everyone needs the basics. Once they’re covered there’s another level of comfortable basics, and past that there’s basics that are both comfortable, entertaining, and enlightening. But spending beyond a pretty low level of materialism is mostly a reflection of ego approaching income, a way to spend money to show people that you have (or had) money.

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