Foolish In Love And Money

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Rick Ferri
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Foolish In Love And Money

Post by Rick Ferri » Mon Mar 31, 2014 12:06 pm

Love and money have a lot in common. It struck me how similar these two pursuits are while reading a recent Wall Street Journal article on the pursuit of a satisfying life by Charles Murray. We seek both love and money over our lifetimes; we’re drawn to them, fight over them, agonize over them, neglect them and lose them on occasion, and then seek them again.

Here's more of my foolish thoughts: Foolish In Love And Money.

Rick Ferri
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Re: Foolish In Love And Money

Post by Fallible » Mon Mar 31, 2014 1:00 pm

Love and money (mainly) are both of the brain's emotions, so can foolishness be far behind?

Thanks for another good article.
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VictoriaF
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Re: Foolish In Love And Money

Post by VictoriaF » Mon Mar 31, 2014 1:07 pm

The same parts of the brain are responsible for love and fear. If you want someone to fall in love with you, try to scare them well. Knowing that people are fearful of losing money, it all fits together rather nicely. Have a Great Depression/Recession and the streets will be full of free love.

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Re: Foolish In Love And Money

Post by Grt2bOutdoors » Mon Mar 31, 2014 1:51 pm

Don't be so modest, Rick. :wink:

That was a good piece by Mr. Murray, I read it over breakfast. Your piece is pretty good too! Good of you to let others get a synopsis of the piece w/o having to pick up a copy of the paper, I'm sure Rupert is appreciative of that! :)
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Re: Foolish In Love And Money

Post by Wildebeest » Mon Mar 31, 2014 8:09 pm

Hi Rick,

I read the article by Murray on Saturday and I found it amusing. I read your article and I thought it was great. I hope this means I more secure in love than in money.

It connected with me especially since I am rereading Daniel Kahneman's Thinking, Fast and Slow and was again very surprised to read that primes such as an irrelevant money related object, such as stack of Monopoly on a table, will make test subjects more independent than without an associative trigger. Money primed people are more selfish and stay further apart in getting acquainted conversations ( chair apart 118 versus 80 cm) as by experiments by Kathleen Vohs.

You probably have written about the "anchoring, substitution, optimistic bias" etc and I would be very interested in reading your take on that.

Thanks again
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Rick Ferri
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Re: Foolish In Love And Money

Post by Rick Ferri » Mon Mar 31, 2014 8:38 pm

You probably have written about the "anchoring, substitution, optimistic bias" etc and I would be very interested in reading your take on that.
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Re: Foolish In Love And Money

Post by haban01 » Mon Mar 31, 2014 8:43 pm

Excellent article Rick. I proposed 3 years ago today!! How fittings! :wink:
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Re: Foolish In Love And Money

Post by Howard Donnelly » Mon Mar 31, 2014 9:27 pm

Great article. Thank you, Rick.

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Taylor Larimore
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Re: Foolish In Love And Money

Post by Taylor Larimore » Mon Mar 31, 2014 9:43 pm

Any inkling of achieving fame or fortune in the financial markets left my body a long time ago.
Rick:

Until the last line in your article (quoted above), I was in full agreement.

You are famous for your books and being one of the most highly regarded advisers in the the business. Also, managing over a billion dollars of investor assets may not bring a "fortune," but it ain't tiddlywinks.

We are very grateful for your many contributions (7660 posts) to the Bogleheads Forum.

Thank you and best wishes.
Taylor
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Re: Foolish In Love And Money

Post by ofcmetz » Tue Apr 01, 2014 8:15 am

I read the article by by Charles Murray on my iPad at the PD over lunch while working the dog shift this weekend. It was filled with wisdom and good advice. As someone who got married young, I really identified with his writing. I am now extremely motivated to go out and rematch Groundhog Day as it was always one of my favorite comedies.

Thanks for taking the time to write the nice article about it along with your added wisdom Rick. We appreciate it.
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Rick Ferri
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Re: Foolish In Love And Money

Post by Rick Ferri » Tue Apr 01, 2014 11:24 am

Taylor, I think you know me by now that I don't "do" praise very well. Perhaps it's all those years in the Marine Corps. I can't say. They way I look at, as with you and everyone else on this board, we're all just trying to help do an important job that needs to be done. But thanks for noticing. I appreciate your well wishes.

Rick Ferri
The Education of an Index Investor: flounders in darkness, finds enlightenment, overcomplicates strategy, embraces simplicity.

deikel
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Re: Foolish In Love And Money

Post by deikel » Wed Apr 02, 2014 1:09 pm

If love would be as boring as money, may, we would have lost a great motivator for our civilization...
Everything you read in this post is my personal opinion. If you disagree with this disclaimer, please un-read the text immidiatly and destroy any copy or remembrance of it.

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