I’m Just Now Realizing How Stupid We Are

• I've learned that changing your mind is one of the most difficult things we do. It is far easier to fool yourself into believing a falsehood than admit a mistake.
• I've learned that short-term thinking is at the root of most of our problems, whether it's in business, politics, investing, or work.
• I've learned that debt can cause more social problems than some drugs, yet drugs are illegal and debt is tax deductible.
• I've learned that finance is actually very simple, but it's made to look complicated to justify fees.
• I've learned that self-interest is the most powerful force in the world. People in unethical, predatory, and nonsense jobs will do mental gymnastics to convince themselves they're doing the right thing. Those who criticize the behavior of "greedy Wall Street bankers" underestimate their tendency to do the same thing if offered an eight-figure salary.
• I've learned that a willingness to wait longer than other people is your biggest natural edge. If you can think about the next five years while everyone else is fixated on the next five months, you have an advantage that makes high-frequency trading, insider tips, and corporate loopholes look like a joke.
• I've learned that "do nothing" is the best advice for almost everyone almost all the time.

- Morgan House's 3000th column