The historic level of volatility in recent weeks is sure to shake the confidence of any investor, trader or money manager.
Does this type of environment not reflect what has happened in past bear markets? Do we not always have the greatest doubt in the most dire of circumstances? Is it not our "fear of falling" that perhaps is the cause of our falling?
Today's Uncommon Wisdom comes from G.W.F. Hegel (1770-1831). You may want to read it at normal pace one time then slowly a second or even third time:
...if the fear of falling into error is the source of a mistrust in Science, which in the absence of any such misgivings gets on with the work itself and actually does know, it is difficult to see why, conversely, a mistrust should not be placed in this mistrust, and why we should not be concerned that this fear of erring is itself the very error.
Is your patience being tested like never before? It is sure to be tested again. Perhaps we should be careful not to allow ourselves to make the mistake of trusting our mistrust or of fearing our fear...
As in golf, fear of hitting the ball into a water hazard can cause you to hit the ball into a water hazard. Focusing on the target where you want the ball to go is a better option than focusing on where you don’t want it to go. As in investing what is the target, long term gains? (“thinking well” using thought without creating fear)
“I refuse to give in to fear, real or imagined, or to be afraid either consciously or unconsciously of anything or anyone.” Tiger Woods
Posted by: Andrew | October 14, 2008 at 06:54 PM
Andrew:
Thanks for the golf analogy! Do you know if Tiger Woods studies philosophy to any degree?
I have read of his meditative practices and the quote you shared reminds me of ancient western and some eastern philosophies as well...
"It is easier to exclude harmful passions than to rule them, and to deny them admittance than to control them after they have been admitted." ~ Seneca (5 BC - 65 AD)
"Be master of mind rather than mastered by mind." ~ Zen Proverb
Thanks for sharing your thoughts...
Posted by: Kent @ The Financial Philosopher | October 15, 2008 at 08:52 AM