If you look around and compare investing with commonplace entertainment….
In the popular media, we have some who are obsessed wih celebrities. Similarly, there are legions of people who follow business persons at the same levels of fascination.
This reminds the following:
“A man is likely to mind his own business when it is worth minding. When it is not, he takes his mind off his own meaningless affairs by minding other people’s business.”
― Eric Hoffer, “The True Believer: Thoughts on the Nature of Mass Movements.”
This quote tells me that those who psychologically chase after any kind of celebrities, even financial ones, need to take stock of their own lives.
While treating investing as entertainment might benefit those who are not able to partake in their own lives fully, investing as entertainment seems to be just as foolish as fashion trend spotting or celebrity worship.
While investing as entertainment can relieve some aspects of boredom, it can easily lead to financial reverses.
I’d be the first to admit that sometimes I turn to the state of my investments as a source of distraction from everyday affairs. There may be some moments in the day when I have some free minutes when I wonder “how is market doing?” and off I go to check prices.
The urge to find out “what is going on” combined with the desire to potentially profit from price moves can completely obliterate the feelings of measured normalcy.
Perhaps that detour to check prices is slightly harmless, but if that distraction fleshes out to actual trading, it can become a concern.
Are your investments entertainment? Let me know here.
The photo of a lone tree in a vineyard was taken in Napa, California, 2024.
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