Cocktail Economics: Discovering Investment Truths from Everyday Conversations

Chapter 8. Pipelines to Our Investment Returns: How We Get What We Want, in the Amount We Want, and When We Want It

Why are you reading this book? I assume it’s because you want to make money through your investments, and perhaps more money than the average Jane or Joe. That’s good, and it shows decisiveness. And if you don’t mind, I’d say it reveals an admirable distance from emotion. Our emotions have their place, but they can get in the way of an investment strategy. When purely thought of in terms of our motivations, investing is a pragmatic venture. Pragmatism focuses on the ends, not the means, and emotions need not apply. At this point, you should have a grasp of just how important those means can be. But let’s be honest: We involve ourselves ...