In so many of my chats with the lads at our weekly footie game, we often focus on what’s new, what’s trending, and what seems to be transforming overnight. Even when walking through our local village markets with my girls, we’re on the lookout for anything we haven’t seen before.
It’s easy to get caught up in the whirlwind of change. But what if the key to navigating an uncertain world isn’t found in what changes—but in what stays the same?
In Same as Ever, Morgan Housel makes a compelling case for grounding ourselves in the constants of human behaviour. While economies fluctuate, technologies advance, and political landscapes shift, human emotions—like greed, fear, hope, and resilience—remain unyielding. These emotional threads have driven history for centuries, and they continue to shape the choices we make today.
When we apply this perspective to financial planning, it reveals profound insights. Consider the cyclical nature of markets. Every financial crash feels like the end of the world, and every bull market feels invincible.
Yet, if you zoom out, you’ll see a pattern that has repeated for decades. Human emotion—fear driving sell-offs and greed driving bubbles—is the constant behind these cycles. Yes, we spoke about this in our previous blog, but recognising this can prevent us from making impulsive decisions and encourage long-term thinking. And we need to be reminded of this often!
Housel’s philosophy also applies to broader life planning. Take the concept of “enough,” which he frequently explores. The relentless pursuit of more—more money, more recognition, more possessions—can leave us exhausted and unfulfilled. But when we reflect on what truly matters, the constants emerge: meaningful relationships, a sense of purpose, and the freedom to live according to our values.
These are the elements that, regardless of how society evolves, have always mattered and will continue to matter when I speak with both locals and foreigners.
Another timeless truth Housel highlights is the power of patience. In investing, compounding rewards those who can wait. In life, relationships deepen, skills improve, and clarity emerges with time. The irony, of course, is that patience feels harder to practice in a world that promises instant gratification at every turn.
But it’s precisely because of this pace that patience becomes even more valuable—a timeless skill in an ever-changing world.
Housel reminds us to focus less on what’s new and more on what’s enduring. By anchoring ourselves to these constants, we can better weather uncertainty and make decisions that serve us in the long run.
So, the next time you feel overwhelmed by the pace of change, take a step back. Reflect on what has always been true, and let that guide your next move. Sometimes, the answers to our most pressing questions have been in front of us all along.
