This week we look into delusion, being rational and how you need both to make progress on life goals.
We’re all human … which means none of us is perfect or rational. Every person suffers from delusions to some extent or another. Allowing for these human “flaws” (as a Wealth Coach, I prefer to call them “unique qualities”) is actually healthy. Celebrate the upside to NOT being rational. Add a pinch of delusion with these reads.
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How to Make Others Comfortable Around You
Some people can walk into a room and instantly put everyone at ease. Others seem to make teeth clench and eyes roll no matter what they do. What’s the difference? (The Atlantic)
Where Are We in the Stock Market Today?
Forge First Asset Management’s January 2019 Commentary suggests “We Are Either In The 8th Inning Or We’re Already In Extra Innings.” (Seeking Alpha)
How Great Choices Can Come From Delusion
Malcolm Gladwell and Steven Johnson discuss how better decisions are not always rational or sensible, “If we were all rational, people wouldn’t get married or start businesses. We’d all be single dentists.” (Heleo)
An Economic Solution That Isn't Delusional?
We’re passengers in the backseat of the State-driven car. We suspect that our drivers might be high-functioning lunatics, and we’re all terrified about what they might do next. But we need the eggs. (Epsilon Theory)
“All good things in moderation” is how the saying goes. Of course, an argument can be made that moderation of moderation is also better than the alternative.
The last article here from Epsilon Theory explores some of the limits of delusion. I have said for years that Fed (and other central banks) policy will likely prove to have been reckless. I still expect that the end of this business cycle, whenever it arrives, will be more calamitous than necessary because of those policies. Sadly, the pain from that fallout will be felt more by individual investors and the middle class.
The elites (including policy-makers who did this) will end up a lot better off than you or I. When that scenario does play out, will your portfolio manager and by proxy your portfolio be ready? We do offer a way for you to find out. Click Here for More Information on Risk
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Yours in Wealth Health,