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 outperformance

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