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Author: Goofyhoofy Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59109  
Subject: Re: Your Brain Wants You To Be Poor Date: 2/22/2007 11:50 AM
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Sounds like you complement each other well.

Mrs. Goofy and I are like that. Neither of us bothers with a "budget", but then neither do we drop money with wild abandon, either. She buys what she wants, I buy what I want, and sometimes we go overboard (yikes, I spent $700 at Woodcraft this month) but we have sufficient income to do that. OTOH, my car is a 1997, and hers a 1998, we have no mortgage, so it works out.

One other thing from the article:

People cannot be counted on to do what's best for themselves". So says professor George Loewenstein, PhD. Haisley's advisor and a trailblazer in the budding field of behavioral economics. This simple observation is what sets behavioral economics apart from neoclassical economics, the dominent school of financial thought today. That's been the problem with traditional economists: Their numbers are sharp and they give great graph, but they've been leaving people out of their equations. Now psychology can provide answers to questions economics alone can't compute."

To folks who spent time on the other RE board, I will say that this sounds, in part, like Hocus theory. In spite of intercst's brilliant work on safe-withdrawal rates, there is some portion of people who cannot abide such a simple formula, and who will never be able to sit on a severely down portfolio, confident that it will rebound - someday. Hocus was one such, although he also had other problems worth addressing, which made his arguments difficult, if not impossible, to render.

Anyway, I thought it interesting. There you go. "It's not my fault, your honor, I have this biological problem dating back 500,000,000 years."

I have a 100% sure cure for this condition. Just send $39.99 plus postage and handling ($29.99), and I'll send it out. It's been approved by FDA, SEC, ATF, FBI, DEA, CIA and...the list goes on. Don't wait, order now.


Thank you Dr. Kerkorkian, but I'll try it another way, thanks. ;)
 
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