Sunday, December 16, 2007

The psychology of gains and losses

There are more people who are worried about being poor than there are people wanting to get rich.

People feel more upset about investment losses than happy about investment gains. Some investors actually feel content with any gain while cannot tolerate losses.

Ironically, this is the product that people tend to want to buy at high price while sell or turn uninterested when the price is low.

Sunday Blues

What matters?

A lot of time it's not the intellect or hard work that makes a difference, but just contacts and timing. Of course, all four are necessary for big successes, but too often the connection and timing make or break accomplishments.

The other way to look at it is you can control intellect and hard work, while contacts and timing you have less control over. When it comes to adding value to others or this world, there is a place for people who make the right kind of connections and influence decisions. All too often, people use that as a short cut though. I guess the fact that we know about this fact means it's a fair game. It's just our choice whether to leverage it or not.