Comments on: fools http://www.bripblap.com/2008/fools/ wealth, work and life success Thu, 18 Mar 2010 04:30:57 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: NapaEats http://www.bripblap.com/2008/fools/comment-page-1/#comment-12209 NapaEats Sat, 29 Mar 2008 01:27:36 +0000 http://www.bripblap.com/2008/fools/#comment-12209 You don't measure a fool by the end result. You measure the fool by how the decision was made. People come up with explanations to fit patterns which is why talk after the fact is cheap. You make the best decision you can at the time, and then you see what happens. Take your real estate example. I live in the Bay Area. Those people who bought in 2003 and sold in 2006 look smart. But there are far more who went through that same decision making process on very similar data in mid 2005 and now look like fools. There might be a few truly wise or truly foolish in each group that deserve their label. But overall, what separated one group from the other is basically luck. You don’t measure a fool by the end result. You measure the fool by how the decision was made. People come up with explanations to fit patterns which is why talk after the fact is cheap. You make the best decision you can at the time, and then you see what happens.

Take your real estate example. I live in the Bay Area. Those people who bought in 2003 and sold in 2006 look smart. But there are far more who went through that same decision making process on very similar data in mid 2005 and now look like fools.

There might be a few truly wise or truly foolish in each group that deserve their label. But overall, what separated one group from the other is basically luck.

]]> By: Steve (Brip Blap) http://www.bripblap.com/2008/fools/comment-page-1/#comment-12094 Steve (Brip Blap) Wed, 26 Mar 2008 02:20:47 +0000 http://www.bripblap.com/2008/fools/#comment-12094 @Alex Le: Oh, sure, failing to take chances is sometimes the best decision in retrospect, although I would say (as you're getting at) making the conscious decision not to do something is a lot, lot better than just getting lucky through inaction. @Alex Le: Oh, sure, failing to take chances is sometimes the best decision in retrospect, although I would say (as you’re getting at) making the conscious decision not to do something is a lot, lot better than just getting lucky through inaction.

]]> By: Steve (Brip Blap) http://www.bripblap.com/2008/fools/comment-page-1/#comment-12087 Steve (Brip Blap) Wed, 26 Mar 2008 02:11:17 +0000 http://www.bripblap.com/2008/fools/#comment-12087 @financialgal: Of course, being foolish is only human - sometimes being foolish IS human. :) @financialgal: Of course, being foolish is only human – sometimes being foolish IS human. :)

]]> By: Steve (Brip Blap) http://www.bripblap.com/2008/fools/comment-page-1/#comment-12086 Steve (Brip Blap) Wed, 26 Mar 2008 02:10:29 +0000 http://www.bripblap.com/2008/fools/#comment-12086 @Mike (Four Pillars): Thanks - and thanks! and there's nothing wrong with being complacent with your career, as long as it's letting you meet your other goals. You're pursuing other goals - blogging, staying fit, having kids - so it's not like you're just treading water. I don't view my career as a central part of my life, either - in fact, I'm trying to minimize it. @Mike (Four Pillars): Thanks – and thanks! and there’s nothing wrong with being complacent with your career, as long as it’s letting you meet your other goals. You’re pursuing other goals – blogging, staying fit, having kids – so it’s not like you’re just treading water. I don’t view my career as a central part of my life, either – in fact, I’m trying to minimize it.

]]> By: Steve (Brip Blap) http://www.bripblap.com/2008/fools/comment-page-1/#comment-12085 Steve (Brip Blap) Wed, 26 Mar 2008 02:08:29 +0000 http://www.bripblap.com/2008/fools/#comment-12085 @Danny: Similar to the comment I made to Hunter, right - timing and patience (or timing and rapid action) can make the difference between seeming smart and seeming foolish. Over analyzing is my current problem, too, and I'm trying to build SOME sense of urgency back into my decision making. @Danny: Similar to the comment I made to Hunter, right – timing and patience (or timing and rapid action) can make the difference between seeming smart and seeming foolish. Over analyzing is my current problem, too, and I’m trying to build SOME sense of urgency back into my decision making.

]]> By: Steve (Brip Blap) http://www.bripblap.com/2008/fools/comment-page-1/#comment-12084 Steve (Brip Blap) Wed, 26 Mar 2008 02:07:10 +0000 http://www.bripblap.com/2008/fools/#comment-12084 @Saving Diva: I can recite lyrics to 80s songs nonstop but I can't remember my to-do list for a day (thanks, Vitalist)...go figure! @Saving Diva: I can recite lyrics to 80s songs nonstop but I can’t remember my to-do list for a day (thanks, Vitalist)…go figure!

]]> By: Steve (Brip Blap) http://www.bripblap.com/2008/fools/comment-page-1/#comment-12083 Steve (Brip Blap) Wed, 26 Mar 2008 02:05:37 +0000 http://www.bripblap.com/2008/fools/#comment-12083 @Hunter: Oh, of course I couldn't have known, but I guess that's the trick to smart investing/wealthbuilding/getting rich, etc. - seeing something others don't. It probably doesn't make me a fool so much as just "average," but somebody knew - somebody bought. But you're right that it's all a question of timing as to whether you look like a fool or a genius - but part of being a genius is mastering timing! @Hunter: Oh, of course I couldn’t have known, but I guess that’s the trick to smart investing/wealthbuilding/getting rich, etc. – seeing something others don’t. It probably doesn’t make me a fool so much as just “average,” but somebody knew – somebody bought. But you’re right that it’s all a question of timing as to whether you look like a fool or a genius – but part of being a genius is mastering timing!

]]> By: Alex Le http://www.bripblap.com/2008/fools/comment-page-1/#comment-12071 Alex Le Tue, 25 Mar 2008 17:35:27 +0000 http://www.bripblap.com/2008/fools/#comment-12071 Nice post. Nonetheless, being a "fool" at the time can save you a lot of money too. Think about the time when you were about to invest in something then got cold feet towards the end and flaked out. It turned out that the "opportunity" was a flop and you could have lost tons of money. Not just money but it occurs almost everyday in your life. That's why you take chances. I think the only way to attack this is to constantly think and evaluate your options and what you are having. Not being greedy is good, and so is being greedy. Not thinking is bad though, and not realizing that you were only a fool earlier is the worst! Nice post.

Nonetheless, being a “fool” at the time can save you a lot of money too. Think about the time when you were about to invest in something then got cold feet towards the end and flaked out. It turned out that the “opportunity” was a flop and you could have lost tons of money. Not just money but it occurs almost everyday in your life. That’s why you take chances.

I think the only way to attack this is to constantly think and evaluate your options and what you are having. Not being greedy is good, and so is being greedy. Not thinking is bad though, and not realizing that you were only a fool earlier is the worst!

]]> By: financialgal http://www.bripblap.com/2008/fools/comment-page-1/#comment-12060 financialgal Tue, 25 Mar 2008 02:52:15 +0000 http://www.bripblap.com/2008/fools/#comment-12060 Being foolish is only human. The trick is to learn from past mistakes, instead of getting hung up on the "why was I so stupid" factor. Last summer I helped a family member manage and close a retail business. I was new to the trials and tribulations of small business, having only worked as a professional trained to write reports and do research, not manage employees and make a profit. After the experience was over, there were a million things that I obsessed over, beating myself up about why I did this instead of doing that. However, I also realized that I had learned what NOT to do in business. Failure and foolishness is the best education, for those who want to learn. Being foolish is only human. The trick is to learn from past mistakes, instead of getting hung up on the “why was I so stupid” factor. Last summer I helped a family member manage and close a retail business. I was new to the trials and tribulations of small business, having only worked as a professional trained to write reports and do research, not manage employees and make a profit. After the experience was over, there were a million things that I obsessed over, beating myself up about why I did this instead of doing that. However, I also realized that I had learned what NOT to do in business. Failure and foolishness is the best education, for those who want to learn.

]]> By: Four Pillars http://www.bripblap.com/2008/fools/comment-page-1/#comment-12059 Four Pillars Tue, 25 Mar 2008 02:39:57 +0000 http://www.bripblap.com/2008/fools/#comment-12059 I just noticed your new byline - very nice! I just noticed your new byline – very nice!

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