Greed and Capitalism

What kind of society isn't structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system.
- Milton Friedman

Monday, January 19, 2015

Daniel Kahneman on owning stocks



"If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. Its the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, youll be miserable."
----Daniel Kahneman, Princeton professor of psychology, in Jason Zweig, Do You Sabotage Yourself? Money Magazine, May, 2001, p. 78.

 

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