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Strategies & Market Trends : ahhaha's ahs
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To: DMaA who wrote (13687)3/27/2009 11:22:28 PM
From: Jorj X MckieRead Replies (1) of 24758
 
I had a conversation on greed with my mother the other day on another thread. I stood by the "greed it good" philosophy. She thought (and probably still thinks) that I am nuts.

I lost a fair amount of money trading in 2003 that was attributed to "greed" by some. I countered that the reason I lost a bunch of money was that I got lazy. I believe that the real sin that is often labeled as "greed" ends up being sloth.

My argument is that, if I had paid attention to all the signs in the stock market going into March 2000 and March 2003 and done my homework, I would have walked away with a lot more money. If I had truly been greedy, trying to amass as much wealth as possible, I would have got out of my longs in 2000 and out of my shorts in 2003. But instead, I believed my own bullshit and came out with less. Frankly, I would have applauded myself had truly been more greedy.

And living in southern california, I don't know anybody who didn't know that the housing prices were absurdly inflated. And yet people were taking equity out of their homes based on those inflated values with crazy negative amortization loans and now they are upside down on their mortgages. Was it greed or was it just being too lazy to do the math?

I think the world would be a better place if everybody acted just a little bit more greedy. Then I wouldn't have to worry about the other person's needs and me looking out for my own needs would keep yours' in check (and vice versa).
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