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恨人有, 笑人无.

Tuesday, July 16, 2013

We are human, we are flawed and money issues sometimes bring out the worst in us!

I read this in a rather candid article:

I have a tendency to use money as a scorekeeper in life. If I’m doing well financially, I’m beating all of those schmucks who have less than I do. And all of the people who are doing better than me got there because they cheated, got lucky, or otherwise fell into wealth.

The problem is the worst when I notice other people’s money making me mad. Here (is an example) of the sorts of relationships and encounters that stick in my craw:

  • I have an acquaintance who is aloof, socially awkward and somewhat dimwitted. He also tends towards greed and arrogance to boot. But somehow, despite all of these serious faults, he has a knack for making big money. Against all odds, he is succeeding in his field. If current trends continue, he will end up far wealthier than me. And it burns me up.

Source: Your money, my problem.

I have always said that there is no need to compare. Why do people like to keep score and measure how successful a person is? The only person I should compare against is myself.

The Chinese have a saying:

恨人有, 笑人无.

Translation:
To loathe people who have wealth and to laugh at people who don't.

This is a behaviour we should all avoid.

Related posts:
1. Money making.
2. To be a happy peasant.

15 comments:

coconut said...

you said what i wanted to say (before i finished reading),

the only person you should compare is yourself through the passing of time, worth repeating you agreed?

AK71 said...

Hi coconut,

We can never get too much good advice. More the merrier. ;)

coconut said...

this is exactly what i say to smol, if he is to compare his trading results, he will not see whether he has improve or not.

trading P/L are the results of market movements, not directly reflating on the traders discipline (to act and stick to plan). just by looking at the profit, say you make good money in a row, does not necessary means you are a good trader.

you can only feels through time and many trades that you began to act decisively specially in an adverse conditions, that you had come a long way being a trader.

AK71 said...

Hi coconut,

I agree. It is more about having a plan and being consistent. A good trader is able to act without emotions. He trades like he is flipping a switch on and off.

How much money a trader makes is simply the end result of his trading. It doesn't really tell us whether his technique and temperament make him a good trader.

You are a Master. :)

coconut said...

i'm still learning (about myself) not master la.

you had touch a subject that is most critical to a trader, namely the ability to see ourself through times. if there is a secret to trading, this is it, knowing ourself.

the market is not our friend or enemy, its a reflation of ourself when we interact with it.

SnOOpy168 said...

got ink leh.

AK71 said...

Hi coconut,

Yes, I agree and I have said time and again that having knowledge of TA and FA is incomplete without self-knowledge. :)

AK71 said...

Hi SnOOpy168,

Ink? Where, where? Don't scare me. I am wearing a white shirt today.

Kah Khek Toh said...

Comparison might not be a bad thing, it can serve as self motivation. I have read this book on strengthsfinder and it talks about how ppl are successful. It is to find your strength and build on it. More than likely, your acquaintance have been making use of his strength knowingly or unknowingly. A toast to you finding and using your strength and getting ahead of your acquaintance in the near future.

-KK

AK71 said...

Hi KK,

To be honest, when I was much younger, yes, I was concerned with how I was doing compared to my peers.

These days, if I do talk about it, it is with much less emotion. Maybe I have less fire. Maybe I am more enlightened. Maybe I am more bochap. ;)

Sanye ◎ 三页 said...

Using money as scorekeeper is dangerous. It leads to greed. The Bible says:

"贪财是万恶之根。有人贪恋钱财,就被引诱离了真道,用许多愁苦把自己刺透了。"

Comparison may not necessarily be a bad thing. However do not let it lead you to envy or hatre. The Chinese say:

"人比人,气死人“

coconut said...

wow AK, we are quite alike le, i use to be very competitive too, always must win one.

but once i get into the market, being compeitive only brings much disappointment and frastration.

who cares about what other traders can make, i only watch my own foot steps and see whether i'm moving north or south.

AK71 said...

Hi Sanye,

Radix malorum est cupiditas!

You say it in Chinese, I say it in Latin. LOL.

AK71 said...

Hi coconut,

You have attained Nirvana!

AK71 said...

Watch our steps. Know where we are going. If we keep looking at where others are going, we might fall into a longkang.

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