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What you believe Michel Pireu     | Business Day Thursday, January 10, 2019
From an article by Nick Maggiulli of dollars and data:

“The most important decision any person can make is whether they live in a kind or hostile universe”- Albert Einstein

Technically, this quote is paraphrased and Einstein probably never said it, but it brings up an important point about a question you subconsciously answer every day—is the world kind or hostile?

If you view the world as kind, you believe that, on average, good efforts and deeds are rewarded. But, if you view the world as hostile, you believe that what you do has little impact on your life and everything is up to chance. Your decision on this question can pervade every part of your life. It also can show up in how you invest your money.

What kind of investment world do you think we live in? You might think the question is trivial, but it is THE question. If you believe in the “kindness” of long term equity investments, then a 20% decline should be no big deal. This is par for the course. However, if you believe that equities haven’t been reliable (or no longer will be reliable) for wealth building, you are more likely to panic.

The beauty (and curse) of data is that you can use it to tell whatever story you want. You can build whatever reality you want for yourself. If you want to find someone who will tell you that markets are going to hell, you will find them. If you want to find someone who thinks the opposite, you can find them too. Your beliefs are the primary determinant. You decide what comes in. You decide what sticks. So whether you see the universe as kind or hostile, this belief will flow through your entire belief system and affect all the others.
 
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