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    Collaborative FundMorgan Housel4/2/218 min
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    Collaborative Fund
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    • deephdave
      Top reader of all time
      1 year ago

      People are astoundingly good at adapting. When contemplating change it’s tempting to draw a straight line and assume a change in circumstances leads to an equal change in how you feel. But it’s never like that. When faced with a change people quickly say, “OK, this is the new baseline. Our expectations now begin there.” It’s part of why we are so bad at forecasting.