This is your grandfather from 50,000 years ago. You don’t know his name. Let’s call him G50K for the sake of convenience.
His tribe was just learning to use words for communication.
He was still a hunter-gatherer. He lived in a nomadic group. He spent all his day trying to avoid predatory animals. He had to find shelter to survive in summer, winter, and rain.
He had to forage for food every day, otherwise he would have to sleep hungry.
It’s been that way for much of the human history.
Modern humans evolved 200,000 to 300,000 years ago. In contrast, the oldest stock exchange in the world — the Amsterdam Stock Exchange — was established in the year 1602. …
“In any moment of decision, the best thing you can do is the right thing. The worst thing you can do is nothing.” — Theodore Roosevelt
Hundreds of super-smart people have written thousands of books on decision making. Many of them have won the Nobel Prize and other prestigious awards.
I have never won an award in my life. Not even in school. The world doesn’t need another post on decision making by a pseudo-smart guy. But I have this weird itch to talk about it. And I’m going to scratch that itch.
Most of us are capable of making smart choices. We are the most intelligent and most advanced species on the planet. But our history suggests we all have some good stories about our bad decision making skills. …
Imagine life with all the rewards you ever wanted…but without any risk. You regret nothing because everything in your life has happened just the way you wanted. Everything!
You’ve never screwed up. You have made all the right moves in your investing journey. You’ve always invested in stocks that have shot up right after you invested and a few years later you exited it at the peak.
Most investors dream of that kind of life — no risk, no regrets, and all the rewards. …