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Old 12-06-2016, 03:35 PM
 
Location: SoCal
13,252 posts, read 6,345,210 times
Reputation: 9865

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Quote:
Originally Posted by ohio_peasant View Post
At the risk of veering grossly off-topic, or causing offense to all of the responsible and well-meaning people who are investing to fund their retirement or their children's education or long-term-care or other realities of life, I want to reiterate that if the questions of filling one's belly and mending ones' roof have been addressed, then what remains is a matter of psychology. To an enterprising and clever man like Mathjak, this may be "fun", but to those of us who are so to speak lower on the evolutionary scale, this entails a tremendous psychological burden.

By my reckoning, the scenario devolves to questions of personal vanity; of emotion, self-regard, peace of mind vs. rapacious desire for increase – or, fear vs. greed. They are not practical financial questions… how to afford health-insurance, how to put food on the table, how to leave something for a dignified funeral.

If I am too timorous and conservative in my investments, by relying say on short-term bonds or CDs in lieu of heavy weighting in stocks, that jeopardizes cumulative long-term gains, but assuages feelings of loathsome and ghastly dread, whenever the market drops. Note that such drops do not (for me) bring pressure to sell; I never sell. Instead, the drops or stasis-and-fluctuations trigger feelings that the whole venture is bogus and fraught with contradiction, that my life's endeavor is dumb and ill-posed. But this timid conservatism leads to guaranteed setback and enervation of one's portfolio, and so one finds oneself in a different self-hatred: that for being too cowardly and foregoing the zesty promise of the human potential to rise.

And so we oscillate between dread of suffering a loss in our precious portfolio, or seeing it wither away from inflation.

Note that these stresses increase with increase in one's portfolio. This is because the greater the accumulation (either by additional savings or success in the market), and thereby the higher the ratio of holdings to salary, the less control one has. Even a quiet day's fluctuation can be months of salary. This means that an additional bout of frugality can't possible compensate for market-losses with more savings. But at the same time, if the investment-horizon is infinite, it feels silly to fret over such minutiae, and it becomes incumbent upon one to take the long-view. But this long-view becomes progressively untenable, the longer we see waves of sub-par returns, as has happened for example with European stocks for the past decade. In other words, experience may be a good teacher in preventing us from doing stupid deeds, but it does nothing to guard against stupid thoughts.

So then why bother checking the day's financial news? Why not tune out? Well, on a daily basis one could. In longer time-spans it's harder. Step into any airport lounge, and there's CNBC (or whatever) on-screen, with that dastardly stock-ticker offending our privacy. NPR reports on the markets during All Things Considered, and sometimes I'm too slow in slamming the radio off-button before the report's Sirens inflame my ears. So what about a total news blackout, it being not enough to lash oneself to the mast? OK, not a bad idea. But then one feels disconnected. Eventually one gets infused with the perverse belief, that what we are, what we're worth, is literally what we're worth. Did the market fall today? Then today, my friend, you're a lesser man. Not merely the decline of age has done you in, but the decline of daily vicissitude. It chipped away a bit that formerly was yours. John Donne's Europe has lost a clod, and the whole continent is diminished.

The more that we have, the more our having comes to consume us. We become quotidian machines, a clanking apparatus for spewing out money, insensible to why or where, but merely fed the raw material and outputting the product. And then we ponder that same fact, and grow embarrassed of our own mechanical contrivance, soulless and unnatural.

Taking this to its logical conclusion, one becomes a multi-billionaire locked in a dark padded room, lying in a fetal position on the floor, drooling, whimpering softly, with knees worn raw from knocking rhythmically together – wishing that one's wealth could be expropriated by a tyrannical government, which would send one to the Gulag, penniless and starving, to break rocks in a frozen wasteland, hand-digging a White Sea Canal, and thereby through flinty striving learn a higher morality, a morality beyond self-elevation through parsimonious self-abnegation.

Perhaps, then, the best SWR is 100%?
I think you missed your calling. Join Hamilton cast please.
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Old 12-06-2016, 04:21 PM
 
673 posts, read 2,029,375 times
Reputation: 875
Quote:
Originally Posted by ohio_peasant View Post
At the risk of veering grossly off-topic, or causing offense to all of the responsible and well-meaning people who are investing to fund their retirement or their children's education or long-term-care or other realities of life, I want to reiterate that if the questions of filling one's belly and mending ones' roof have been addressed, then what remains is a matter of psychology. To an enterprising and clever man like Mathjak, this may be "fun", but to those of us who are so to speak lower on the evolutionary scale, this entails a tremendous psychological burden.

By my reckoning, the scenario devolves to questions of personal vanity; of emotion, self-regard, peace of mind vs. rapacious desire for increase – or, fear vs. greed. They are not practical financial questions… how to afford health-insurance, how to put food on the table, how to leave something for a dignified funeral.

If I am too timorous and conservative in my investments, by relying say on short-term bonds or CDs in lieu of heavy weighting in stocks, that jeopardizes cumulative long-term gains, but assuages feelings of loathsome and ghastly dread, whenever the market drops. Note that such drops do not (for me) bring pressure to sell; I never sell. Instead, the drops or stasis-and-fluctuations trigger feelings that the whole venture is bogus and fraught with contradiction, that my life's endeavor is dumb and ill-posed. But this timid conservatism leads to guaranteed setback and enervation of one's portfolio, and so one finds oneself in a different self-hatred: that for being too cowardly and foregoing the zesty promise of the human potential to rise.

And so we oscillate between dread of suffering a loss in our precious portfolio, or seeing it wither away from inflation.

Note that these stresses increase with increase in one's portfolio. This is because the greater the accumulation (either by additional savings or success in the market), and thereby the higher the ratio of holdings to salary, the less control one has. Even a quiet day's fluctuation can be months of salary. This means that an additional bout of frugality can't possible compensate for market-losses with more savings. But at the same time, if the investment-horizon is infinite, it feels silly to fret over such minutiae, and it becomes incumbent upon one to take the long-view. But this long-view becomes progressively untenable, the longer we see waves of sub-par returns, as has happened for example with European stocks for the past decade. In other words, experience may be a good teacher in preventing us from doing stupid deeds, but it does nothing to guard against stupid thoughts.

So then why bother checking the day's financial news? Why not tune out? Well, on a daily basis one could. In longer time-spans it's harder. Step into any airport lounge, and there's CNBC (or whatever) on-screen, with that dastardly stock-ticker offending our privacy. NPR reports on the markets during All Things Considered, and sometimes I'm too slow in slamming the radio off-button before the report's Sirens inflame my ears. So what about a total news blackout, it being not enough to lash oneself to the mast? OK, not a bad idea. But then one feels disconnected. Eventually one gets infused with the perverse belief, that what we are, what we're worth, is literally what we're worth. Did the market fall today? Then today, my friend, you're a lesser man. Not merely the decline of age has done you in, but the decline of daily vicissitude. It chipped away a bit that formerly was yours. John Donne's Europe has lost a clod, and the whole continent is diminished.

The more that we have, the more our having comes to consume us. We become quotidian machines, a clanking apparatus for spewing out money, insensible to why or where, but merely fed the raw material and outputting the product. And then we ponder that same fact, and grow embarrassed of our own mechanical contrivance, soulless and unnatural.

Taking this to its logical conclusion, one becomes a multi-billionaire locked in a dark padded room, lying in a fetal position on the floor, drooling, whimpering softly, with knees worn raw from knocking rhythmically together – wishing that one's wealth could be expropriated by a tyrannical government, which would send one to the Gulag, penniless and starving, to break rocks in a frozen wasteland, hand-digging a White Sea Canal, and thereby through flinty striving learn a higher morality, a morality beyond self-elevation through parsimonious self-abnegation.

Perhaps, then, the best SWR is 100%?
I really enjoyed reading your post. Very well written. Agree with all of it.
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Old 12-06-2016, 05:08 PM
 
Location: Central IL
15,253 posts, read 8,543,297 times
Reputation: 35677
Quote:
Originally Posted by NewbieHere View Post
Thank the the FEDs, they had to do the heavy lifting. Obama did nothing. He plays golf most of the time. Now Trump is elected, they can now raise rate. No more easy money.
Quote:
Originally Posted by reneeh63 View Post
...quite out of place...but President Obama only plays golf when on vacation and he takes far less vacation than Bush did. Now, please blather on.
Quote:
Originally Posted by NewbieHere View Post
My statement was still correct. Obama played 186 games of golf while Bush only played 24 games of golf during their years in the White House.
What a non sequitor...alrighty, Bush played 50 games of tic tac toe while Obama played no tic tac toe but 5 games of chess! What a silly pizzing contest you turned this into!
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Old 12-06-2016, 07:51 PM
 
Location: SoCal
13,252 posts, read 6,345,210 times
Reputation: 9865
Quote:
Originally Posted by reneeh63 View Post
What a non sequitor...alrighty, Bush played 50 games of tic tac toe while Obama played no tic tac toe but 5 games of chess! What a silly pizzing contest you turned this into!
Did I mention Bush? You turned it into a silly pizzing contest.
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