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b"My guests this week are both veterans of the podcast, Jason Zweig and Morgan Housel. They are two of the best in the world at making the complicated simple, and in that spirit, I\\u2019ll keep this introduction short. Morgan shifted from public markets to the private markets a year ago when he joined the Collaborative Fund, so we begin with what he has learned about venture capital in his first year on the job.\\n \\xa0\\n For comprehensive show notes on this episode go to http://investorfieldguide.com/writers\\n For more episodes go to InvestorFieldGuide.com/podcast.\\n To get involved with Project Frontier, head to InvestorFieldGuide.com/frontier.\\n Sign up for the book club, where you\\u2019ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.\\n Follow Patrick on Twitter at @patrick_oshag\\n \\xa0\\n Books Referenced\\n The Devil's Financial Dictionary\\n Modern Monopolies: What It Takes to Dominate the 21st Century Economy\\n Thinking, Fast and Slow\\n Shoe Dog: A Memoir by the Creator of Nike\\n Life and Fate\\n \\xa0\\n Online References\\n A Rediscovered Masterpiece by Benjamin Graham\\n Rishi Ganti podcast\\n Small Companies Are Gone, But Should they Be Forgotten (Zweig Column)\\n \\xa0\\n Show Notes\\n 1:43 \\u2013 (First question) \\u2013 Morgan on why he got disenchanted with the investment industry and shifted to venture capital\\n 4:05 \\u2013 Jason\\u2019s thoughts about investing in the private markets\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 5:19 - A Rediscovered Masterpiece by Benjamin Graham\\n 7:57 \\u2013 Morgan\\u2019s thoughts on how private market investments differ from public market investments\\n 10:24 \\u2013 Exploring valuations of businesses and what they say about broader trends in the market\\n 13:21 \\u2013 How much does Jason think about individual companies when exploring the overall market trends\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 18:41 \\u2013 The Devil's Financial Dictionary\\n 19:28 \\u2013What does it take to be a successful founder\\n 23:40 \\u2013 How does Jason look at activities that are work related vs just for pleasure\\n 25:33 \\u2013 If Jason had to start a business, what would he do\\n 27:22 \\u2013 What business would Morgan start\\n 29:18 \\u2013 Problems with the financial planning industry\\n 30:56 -\\xa0 The role of stress in personal and business development\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 31:04 \\u2013 Modern Monopolies: What It Takes to Dominate the 21st Century Economy\\n 38:17 \\u2013 Are there signs that let you know when to cut and run vs when to keep slogging along with something\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 42:02 \\u2013 Thinking, Fast and Slow\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 44:03 \\u2013 Shoe Dog: A Memoir by the Creator of Nike\\n 44:20 \\u2013 Principals to approach learning\\n 50:10 \\u2013 The idea of keeping your identity small in a world where social media encourages one-upmanship\\n 53:56 \\u2013 Last significant thing Morgan changed his mind about\\n 55:23 \\u2013 Why Morgan chooses passive investing with stocks, but as a VC, essentially is a stock picker in private markets\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1:00:44 \\u2013 Rishi Ganti podcast\\n 1:02:14 \\u2013 What major thing did Jason change his mind about\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1:02:30 \\u2013 Small Companies Are Gone, But Should they Be Forgotten (Zweig Column)\\n 1:06:33 \\u2013 What was the most interesting idea Jason and Morgan have been tackling and what data helped to spark that interest\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 1:09:32 \\u2013 Life and Fate"