1.03.2006

MISC: Holiday gifts do NOT make you happy

Material riches fail the happy test, Financial Times reports. Rich people are likely to find more happiness scuba-diving or going to a concert than buying that Ferrari, global investors were told on Friday. According to what many in financial circles will regard a heretical piece of research by Dresdner Kleinwort Wasserstein, materialistic goals may even cause dissatisfaction with life and mental disorders such as paranoia... there was a mass of evidence to suggest that spending on experiences, such as walking the Machu Picchu trail in Peru, rather than possessions, such as flash watches, seemed to make people happier, provided their basic needs were satisfied... Explaining the benefits of experiences over possessions, (James Montier) said they tended to be unique, whereas a house or car is likely to become the norm very quickly. He urged readers to avoid a keep-up-with-the-Joneses syndrome...

Barry Ritholtz observed, ...The value of wealth isn't necessarily the THINGS you can acquire, it is the things you can do with it -- the experiences and memories that you can "acquire."

Think of it this way: It's the not the TOYS, it's the PLAYING...

Could it be true that the best things in life aren't things?

Category: C++ Quant > Random Walk

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