Boxer Wisdom

I’ve squandered my resistance for a pocketful of mumbles
Such are promises, all lies and jest
Still the man hears what he wants to hear
And disregards the rest

–Simon and Garfunkel, "The Boxer"

Hearing what we want to hear and disregarding the rest is a common attribute of human psychology. Sometimes that attribute serves us well, and sometimes it can cause us problems. When you’re investing, you actually want to seek out ideas that confirm your theory. However, you don’t want to ignore the arguments on the other side. More importantly, you don’t want to find yourself swimming upstream. Or, to put it in pugilistic terms, you don’t want to be boxing an opponent that’s bigger, stronger and faster than you.

Wisdom about money, investing and life can be found anywhere. If you have a good quote you’d like me to share with your fellow Alert readers, send it to me, along with any comments, questions and suggestions you have about my radio show, newsletters, seminars or anything else. Click here to Ask Doug.