Snap Judgment: When to Trust Your Instincts, When to Ignore Them, and How to Avoid Making Big Mistakes with Your Money

4. Bonds: Malign Neglect

At a cocktail party in Litchfield County, Connecticut, several summers ago, money was the subtext of almost every conversation. Litchfield County, for those who don’t know it, is a rural area of northwestern Connecticut favored by Wall Streeters and other New Yorkers who find the Hamptons to be too much of a scene. The aspirations are slightly different as well, tending toward colonial New England and vague hints of a WASP pedigree supported by displays of collections of early American furniture. Guests at the party talked of many things, such as the impact of the new green resort coming to town, or what they thought of the President. The real-estate agent, the best source of gossip, held forth on who was divorcing and ...