The incredibly bright and insightful Morgan Housel of the Collaborative Fund drops by the Compound to discuss some of the biggest mistakes and misconceptions that plague investors year after year - and what can be done about them.Morgan talks with Michael Batnick and Barry Ritholtz about:* how there is no such thing as an optimized portfolio* why recent trends are more instructive about the near term future, but long term trends are the ally of most investors* the fact that investing is one of the only endeavors in which the application of more effort doesn't equate to better results* the hindsight bias that all of us fall victim to* the reality behind some of the most famous investor track records* the inconsistency you are required to put up with in the pursuit of long term outperformance1-click play or subscribe on your favorite podcast app Subscribe to the mini podcast on iTunes or Spotify  Enable our Alexa skill here - "Alexa, play the Compound show!" Talk to us about your portfolio or financial plan here: http://ritholtzwealth.com/ Check out our video channel, "The Compound," over on YouTube:https://www.youtube.com/thecompoundrwmObviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.