In that case it’s better to look forward, not back. A lot of the time the motivation is to make ourselves feel bad, not really to learn anything. I should have held onto Tesla – and I should have bought my first flat in London in 1998, not 2018!īut it’s that the way we think about them is so often faulty. ![]() I wouldn’t say that thinking about these missed opportunities is entirely pointless, or even that they’re somehow not real decisions and outcomes. Others mourn the house they didn’t buy or the job they didn’t take – or outside of the financial realm, the person they didn’t marry or the musical instrument they gave up on despite some talent. I wrote about it with respect to my hugely costly Tesla sale a few years ago, for instance. Nick illustrates his point with a graph that shows why basketball star Magic Johnson’s alternatively lived experience where he chose sponsorship by Nike over Converse – thus supposedly ending up $5bn richer – would have at least felt very different over a long reality, and may never have happened at all.Īnyone who invests actively knows about these lost fantasies all too well. But, how you live through that experience in real-time tends to produce very different results. How you imagine an experience is a theoretical exercise. Because the way you think things would’ve turned out is not the way they actually would’ve turned out. I’m here to tell you that this kind of thinking is a mirage. Happily this change of direction has immediately paid off with one of the best posts he’s ever written (and that’s saying something…)Įxploring why you should never look too far down roads you didn’t take – in life or investing – Nick argues: ![]() Unfortunately, this year I strayed a bit from that path.Īnd while I don’t consider it a major mistake, I’m glad I realized what was going on before it was too late. I’ve been able to follow my curiosity wherever it has led me. One of the reasons I’ve been able to blog consistently for nearly seven years is because I’ve always chosen what I write about. I can’t keep doing this and preserve my creative sanity. It's time to start deciding with our heads instead of with our guts.ĭesigned for use with the Better Decisions, Fewer Regrets Video Study available on DVD or streaming video, sold separately.A couple of weeks ago Nick Maggiulli of Dollars and Data fame conceded that lately he’d been writing for the Google’s search algorithm, rather than about what really interested him.Īnd doing so was destroying Nick’s passion for blogging:
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