Investing as a sport?

Written by David Leonhardt


I said last week that money doesn't generally buy happiness, butrepparttar lack of it can buy absolute misery. This, byrepparttar 112738 way, is not just my personal observation. It isrepparttar 112739 conclusion of some ofrepparttar 112740 most respected happiness researchers (Yes, there is such a thing -- read my book.)

The trouble is that we have to pay attention to money more when we lack it than when we have it. This doesn't seem fair, butrepparttar 112741 Lord works in mysterious ways. Most people are invested inrepparttar 112742 stock market, either directly or through mutual funds, pension plans or some other vehicle. So it is hard not to be part ofrepparttar 112743 Panic Crowd. But I ,in all my financial wisdom, have two golden rules to offer. These may not make you rich, but they will keep you happy.

Number One: Place your investments inrepparttar 112744 safest vehicles possible (Do as I say, not as I do!) and forget about them. Whenrepparttar 112745 next recession ends, take inventory and see that you still have investments. Most of us don't get a rush out of watching our investments plunge or yo-yo up and down. Most people are happier when they forget they even have investments.

Number Two: If you are one of those people with a terminal case of Itchy Trading Finger, then you probably would not be happy ignoring your investments. Place aside what you need forrepparttar 112746 long term, such as retirement if your heart lasts that long. Don't play with this money. Don't touch it. Trade only with "extra" money. The rest of you are asking, "What's that?", but Itchy Trading Fingers know what I'm talking about. They view stock trading as a sport.

In fact, stock trading is a sport. Much more than, say, hunting. Think about it. In a sport, two equal opponents square off against one another. "Letrepparttar 112747 best one one win." Each facesrepparttar 112748 same challenges. Each is armed withrepparttar 112749 same weapons. Each has an equal chance of feelingrepparttar 112750 thrill of victory andrepparttar 112751 agony of defeat (unless, of course, you happen to berepparttar 112752 Tampa Bay Devil Rays).

Staying Sane While Wall Street Crashes

Written by David Leonhardt


Everybody is ridingrepparttar Wall Street Roller coaster. Even if you are not invested,repparttar 112737 headlines scream out one word: PANIC!

It's hard not to join inrepparttar 112738 panicking. The Panic Crowd seems to be having allrepparttar 112739 fun these days. But they don't have allrepparttar 112740 happiness. You see, it's true what your mother told you: money doesn't buy happiness, at least not for most people. Butrepparttar 112741 lack of money does buy pure misery.

Did you ever wonder why so many office towers have fusion-sealed, micron-proof windows to keep office workers safe from any semblance of fresh air? It has to do withrepparttar 112742 stock market. During The Great Depression, just too many brokers were jumping out of windows. This enraged a nation of vengeful investors, who demanded to kill their brokers personally. So henceforth all windows were sealed.

(The good news is that byrepparttar 112743 timerepparttar 112744 windows were sealed, The Great Depression had ended, so there have been very few reported cases of enraged investors killing their brokers. However, there have been several incidents of "office air suffocation syndrome" -- but that's another issue for another column.)

Oh no! Not another Top Ten list!

Here are The Happy Guy's Top Ten Tips for Staying Sane While Wall Street Crashes Around You:

1. Don't panic. Enough people are doing that already; you're needed elsewhere.

2. Don't joinrepparttar 112745 Panic Crowd. They are NOT having more fun, they just act that way to attract new members fold. Misery loves company.

3. Take inventory. Do you haverepparttar 112746 basic necessities? If so, you are OK. When they come to take away your television remote control, then panic.

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